ECON204 MACROECONOMIC THEORY II
| Course Code: | 3110204 |
| METU Credit (Theoretical-Laboratory hours/week): | 4 (3.00 - 2.00) |
| ECTS Credit: | 7.0 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Prof.Dr. DÜRDANE ŞİRİN SARAÇOĞLU |
| Offered Semester: | Fall and Spring Semesters. |
Course Objectives
Course Content
Intertemporal consumption-saving decisions; Ricardian equivalence theorem; credit market imperfections; intertemporal investment decision of the firm; optimal investment rule; cash-in-advance model; Fisher relation; Liquidity trap; menetary policy rules; neutrality of money; New Keynesian Economics; Keynesian transmission mechanism for monetary policy; menu cost models; Freidman rule; Financial intermediation and Banking; The Diamond-Dybvig Banking model; The Phillips curve; Rational expectations hypothesis; Time consistency problem; Beginning of Modern Macroeconomics; The Neoclassical Synthesis; The Rational Expectations Critique.
Course Learning Outcomes
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Use and develop skillfully economic concepts and theories, analyse economic behaviour and events by conceptualizing and evaluating via scientific methods (Has skills regarding theory and analysis) | ✔ | |||
| 2 | Evaluate how economic policies affect economic performance and how economic interest, relationship and interaction affect policy decisions (Knowledgeable about economic policies) | ✔ | |||
| 3 | Design and carry out studies regarding data collection, analysis and evaluation, that can be used in decision processes at every level (individual, firm, government, etc.)(Knowledgeable about quantitative and qualitative methods) | ✔ | |||
| 4 | Evaluate systematically and compare economic knowledge, phenomena and methodology; Develop critical, creative/innovative approaches to these (Critical, creative, innovative) | ✔ | |||
| 5 | Understand current economic phenomena and relevant political developments using information and data from various resources and provide multifaceted explanations (Concerned about current events) | ✔ | |||
| 6 | Follow developments in economic theory and methods; Be open to continuous learning (Open to continuous learning) | ✔ | |||
| 7 | Have skills to work independently and in a team (Individual and teamwork) | ✔ | |||
| 8 | Approach critically to economic and societal events and problems while being sensitive to social problems; Produce solutions to these problems by scientific approach; Share own thoughts (Sensitive to social problems) | ✔ | |||
| 9 | Communicate clearly, effectively and fluently (in English and Turkish) verbally and in writing, utilizing new technologies (Has effective communication skills) | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution