ECON502 MACROECONOMIC THEORY I
| Course Code: | 3110502 |
| METU Credit (Theoretical-Laboratory hours/week): | 4 (4.00 - 0.00) |
| ECTS Credit: | 10.0 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Graduate |
| Course Coordinator: | Prof.Dr. DÜRDANE ŞİRİN SARAÇOĞLU |
| Offered Semester: | Fall Semesters. |
Course Objectives
By the end of thia course, the studenst will be able to
- Analyze the static Classical and Keynesian models for a closed economy and use them to enhance understanding of real-world macroeconomic experiences
- Analyze long run economic growth models (the Solow model, Ramsey model, and the endogenous growth models, overlapping generations model) to derive and understand the transitional path of an economy towards its long run equilibrium
- Develop a solid grasp of macroeconomic analysis at the advanced level using mathematical methods
- Understand theoretical models which are used to explain the behaviour of the aggregate economy in the short and long-run and gain the ability to use these models to answer questions about the impact of shocks and policy in a small closed economy
- Demonstrate competency in solving complex macroeconomic problems utilizing theoretical models which facilitate understanding the behaviour of economic agents and the aggregate economy
- Understand the response of policy makers to macroeconomic issues and expectations
Course Content
Analytical treatment of the Classical, Keynesian and Tobin's dynamic aggregative models; reduced forms, impact multipliers and basic notions of stability analysis; implications of different money regimes and alternative definitions of disposable income; rapid review of the theories of inflation and unemployment are discussed in this course.
Course Learning Outcomes
By the end of this course the students will be able to
- Show advanced level of knowledge on the macroeconomic theory and macroeconomic indicators, competency in modelling, analysis and application of macroeconomic theories using advanced mathematical methods
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Advanced level of knowledge on the theory of economics and economic indicators, competency in modelling, analysis and application of economic theories using advanced mathematical and econometric techniques; | ✔ | |||
| 2 | Competency in asking the right research questions; | ✔ | |||
| 3 | Develop an innovative knowledge, method, design and/or practice or adapt an already known knowledge, method, design and/or practice to another field; research, conceive, design, adapt and implement an original subject; | ✔ | |||
| 4 | Conceive the interdisciplinary interaction which the field is related with; efficient use of time; demonstrate leadership in contexts requiring innovative and interdisciplinary problem solving; | ✔ | |||
| 5 | Ability in thouroughly explaining the impact of economic policies on individuals, markets and countries with the help of the theoretical background achieved during program of study; | ✔ | |||
| 6 | Contribute to the progression in the field by producing an innovative idea, skill, and/or practice or by adapting an already known idea, skill, and/or practice to a different field independently; | ✔ | |||
| 7 | Contribute to the transition of the community to an information society and its sustainability process by introducing scientific, technological, social or cultural improvements; | ✔ | |||
| 8 | Ability and competence to work and conduct research with national and international research groups and partnerships; | ✔ | |||
| 9 | Defend original views when exchanging ideas in the field with professionals and communicate effectively by showing competence in the field. | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution