ECON514 MACROECONOMIC THEORY AND POLICY
| Course Code: | 3110514 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 8.0 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Graduate |
| Course Coordinator: | Assoc.Prof.Dr. HAKAN ERCAN |
| Offered Semester: | Fall Semesters. |
Course Objectives
The objective of the course is to provide the students with the necessary background to understand macroeconomic aggregates and have a solid background in understanding the mechanisms underpinning the macroeconomy. The course starts with the analysis of the core theoretical models used in macroeconomics, for both closed and open economies. Then, we study how to make use of the theries to enhance understanding of real-world macroeconomic experiences (especially involving macroeconomic policy).
Course Content
This is an intermediate macroeconomics course specifically designed for non-departmental students.
Course Learning Outcomes
Bu the end of the coyrse the students are expected to learn: how to (i) demonstrate their understanding of the extended Keynesian income-expenditure model algebraically and diagrammatically; (ii) explain the creation and role of the Money in the economy; (iii) derive and make use of the the IS and LM curves from equilibria in the asset and goods markets; (iv) derive and evaluate the relationship between prices and income using AS-AD analysis; (v) use economic analysis to evaluate current social and political issues and policies; (vi) apply macroeconomics to current policy issues.
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