1. ACADEMIC SEMESTER
| Course Code and Name | İKT502 Microeconomic Analysis II |
| Local Credits / Ects | (3 0 3) 8 |
| Course Description | Production Function, Technological Development, Factor Substitution Flexibility and Income Distribution / Incomplete Competition Conditions in Factor Market; Operation and Conditions of Different Labor Markets / Firm’s Capital Structure, Capital Cost and Firm’s Investment Decision / Mergers in Oligopoly Environment: Horizontal and Vertical Mergers / Anatomy of Market Failures: Missing Competition Markets, Allocation Efficiency and X Inefficiencies / Market Failures: Positive and Negative Externalities, Public Goods, Asymmetric Information / General Equilibrium and Welfare Theory / Intervention to Market Economy and Social Welfare. |
| Course Code and Name | İKT501 Microeconomic Analysis I |
| Local Credits / Ects | (3 0 3) 8
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| Course Description | General Evaluation of Neo-Classical Firm Theory / Pricing Models in Imperfect Competition Environment I: Bain’s Limit Pricing Model / Pricing Models in Imperfect Competition Environment II: Contributions to Limit Pricing Theory / Firm Behavior in Imperfect Competition Environment: Baumol’s Model of Sales Revenue Maximization Model Behavior in Business Environment: Marris’ Business Management Initiative Model, Cyert and March’s Behavioral Model / Consumer Behavior, Contributions to Benefit and Consumer Theory. |
| Course Code and Name | İKT503 Macroeconomic Theory |
| Local Credits / Ects | (3 0 3) 8 |
| Course Description | Introduction: Macroeconomic problems, objectives and tools; The course of Keynes economics / Classics and Keynes: Keynes’ rejection of Say’s law, the content of the General Theory, the Great Depression / Orthodox Keynesian: The discussion of equilibrium in economics, underemployment, Phillips curve, Basic propositions of Tobin and Orthodox Keynesian / Expectations of quantity including the Phillips curve, stabilization policy and Friedman / New Classical School: The structure of New Classical models from Muth to Lucas, the explanation of economic fluctuations, the effect of unexpected changes in money supply, dynamic time inconsistency, confidence and monetary rules, central bank independence debates / Reel Conjuncture School: Real Business Cycle Theory, technology and supply shocks, Solow’s balance, Review of the Great Depression / New Keynesian School: Rise of Keynesian economics, real rigidities, macroeconomics without LM. |
| Course Code and Name | İKT504 Macroeconomic Policy |
| Local Credits / Ects | (3 0 3) 8 |
| Course Description | Post Keynesian School: Taxonomic critique of Say law, investments, liquidity, decision and uncertainty / Austrian School: The intertemporal structure of capital, capital-based macroeconomic framework, a reassessment of Keynes’ saving paradox, conjuncture theory of the Austrian School, inflation and deflation / New Political Macroeconomics I: Political effects on government’s choice of economic policy, opportunism and partisanship, policy-based economic models / New Political Macroeconomics II: Review of central bank independence, economic policy of debt and deficits, political limits to economic growth / Modern Economic Growth: Long period and growth, convergence discussion, Solow and Romer, the effect of institutions and geography / Turkish Economy with Crises and Development: Cadre Movement, Socialist tendency, Democratic Movement, undisciplined development, planning, supply shocks, political instabilities and crises / Conclusion: Developments in macroeconomics summary, agreed and discussed points, Turkish academic macroeconomics. |
| Course Code and Name | İKT505 Econometrics I |
| Local Credits / Ects | (3 0 3) 8 |
| Course Description | Definition of Econometrics and Econometric Approach / Verbal, Geometric, Mathematical and Econometric Models / Statistical Theory and Econometric Techniques / Structural Analysis, Preliminary Reporting and Economic Policy Evaluation / Economic Events, Economic Data and Refining of Data / Descriptive Measures / Simple Correlation Coefficient / Estimation and Hypothesis Tests / Simple Linear Regression Model / Least Squares Estimation / Interpretation of Regression Estimates and Determination Coefficients / Properties of Regression Coefficients / Hypothesis Tests / Sample Solutions / Multiple Regression Analysis Multiple Determination Coefficient / Variable Variables / Function Choices / Semi-Logarithmic Models F Tests in Multiple Regression |
| Course Code and Name | İKT506 Econometrics II |
| Local Credits / Ects | (3 0 3) 8 |
| Course Description | Analysis of Variance / Chow Test / Violation of the Assumption of Normality / Violation of the Zero Mean Assumption / Violation of the Homoscedasticide Assumption / Heteroskedasticide Tests and Problem Solving / Autocorrelation Assumption / Solution of the Problem / Autocorrelation Tests Detection and Testing / Solution of Multiple Linear Relations |
| Course Code and Name | İKT530 Research Methods and Ethics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | The main objective of this course is to examine the research process (problem determination, data collection, data analysis and interpretation of results), to review the major scientific research methods (experimental method, description method, historical method, etc.) and to enable students to conduct research on a specific topic. literature finding, data collection, data evaluation and report writing techniques. Some statistical and bibliographic software packages for data evaluation and report writing will also be used throughout the course. |
| Course Code and Name | İKT597 Seminar |
| Local Credits / Ects | (0 0 0) 0 |
| Course Description | The seminar course encourages students to do individual research on a specific theoretical or applied economic problem. The student is guided by an advisor and is expected to write regular reports. Thus, current and specific problems can be discussed. |
1. ACADEMIC SEMESTER
| Course Code and Name | İKT529 Mathematical Economics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Course Objectives, Scope and Basic Concepts / Functional Relationship / Linear Functions / Linear Demand and Supply Models / Second and Third Order Functions / Major Function Types / Derivatives / Derivatives in Economics, Elasticities in Economics, Relationship between Market and Individual Demand Elasticities / Demand Theory and Consumer Behavior Theory Derivative / Optimization of Functions with a Single Explanatory Variable / Equilibrium under Total and Incomplete Competition Conditions / Total Variation / Total Derivative / Derivative in Closed Functions / Two Input Cobb-Douglas Production Function / Homogeneous Functions / Euler’s Theorem, Income Sharing / Maximum and Minimum in Multiple Explanatory Variables Determination of Points / Lagrange Multipliers Method / Optimization of Limited Functions. |
| Course Code and Name | İKT528 Public Sector Economics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Market economy and public economy separation / Market failures / Economic rationale for public sector / Public goods theory / Basic features of public services (defense, education, health, etc.) / Externalities / Decision making processes in public economy |
| Course Code and Name | İKT527 Welfare Economics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Concepts of Market Failure and State Failure / Definition of Welfare State and Social Policy / Social Functions of State / Emergence of Modern Social Welfare State / Debates on Welfare State / Duties of Modern Social State / Health and Education Expenditures / Labor Market and Full Employment Goal / Unemployment, Poverty Income Distribution, Inequality / Income Distribution in Turkey / Limits of the Welfare State |
| Course Code and Name | İKT526 Applied Econometrics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Deviations from Classical Least Squares Assumption / Delayed Variables and Distributed Delay Models / Autoregressive Models / Rational Expectations / Restricted Hypotheses / Constrained Regression Method / Simultaneous Equation Systems and Their Results / Simultaneous Equation Deviation and Solutions / Indirect Least Squares Method Method of Squares. |
| Course Code and Name | İKT525 Environmental Economics and Policy |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Outline Natural Resources / The Problem of Adequacy of Natural Resources / Social Optimality in Natural Resource Utilization Rate / Reasons for Mismanagement of Natural Resources / Property Rights and Natural Resources / Natural Resources and Economy / Natural Resource Goods and Services / Natural Resource Modeling / Non-renewable Resources / Natural Resources and Public Policies / Economic Efficiency / Types of Public Policies / Centralization / Placement Policies / Determination of the Value of Natural Resources / Mining Economy / Economy of Recycling / Energy Economy / Energy Consumption and Prices / Forest Economy / Determination of Product Time in Forest / Related Forest Regulations / Water Economy / Land Economics / Wildlife and Biodiversity |
| Course Code and Name | İKT524 Econometric Models |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Univariate time series models / ARIMA model / Bob-Jenkins method / Deterministic and stochastic trends / Non-stationary unit roots; test and model selection / VAR models / Structural VAR / Cointegration; Johansen method. Basic theory and optimization algorithms / Convex optimization / Geometry of convex sets / Basic convex analysis / Principle of optimality / Duality / Numerical algorithms / Newton method, internal point methods, dynamic programming / Engineering applications. |
| Course Code and Name | İKT523 History of Economic Thought |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Definition, Scope, Method and Relation of History of Economic Thought and Relation with Other Disciplines / Economic Thought in Ancient Age / Economic Thought in the Middle Ages / From Mercantilism / Mercantilism to Classical Theory: Liberal Thoughts / Physiocracy / Classical Theory / David Ricardo / T.Malthus / JBSay / HC Carey / WN Senior / A General Analysis and Criticism of Classical Theory / First Reactions to Classical: Marxism / Historian School / Marginalism / Marginalism: Austrian School / Marginalism: Lausanne School / Neoclassical Economics / J.M. Keynes / Monetarism / Rational Expectations Theory: New Classical and New Keynesian Schools / Rational Expectations Theory: Real Conjuncture Theory. |
| Course Code and Name | İKT522 Turkey-EU Economic Integration |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Historical Development of the Idea of European Union, Theory of Customs Unions, From European Community to European Union, EU’s Institutional Structure, Law, European Monetary System and Euro, EU’s Common Policies: Common Trade Policy, Common Competition Policy Comparison with Turkish Economic Policies , the EU’s common policy on the Common Industrial Policy and Turkish Industrial Policy Compared to the Common Agricultural Policy, Enlargement Strategy, the European Union’s Political Integration Discussing Turkey-EU Relations: Customs Union Pre-Turkey-EU Relations: Customs Union |
| Course Code and Name | İKT521 International Finance |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | International Financial System, Fundamentals of Foreign Exchange Regime, Exchange Rate Policy, Foreign Exchange Market, Futures Contracts, Forward Contracts, Futures Contracts, Swap, Foreign Exchange Option Transactions, Purchase Option, Sell Option |
| Course Code and Name | İKT520 General Economic History |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Economic History as a Field of Science / Agricultural Revolution and Its Consequences / Early Economies / Economy of the Roman Empire / European Society and Economy in the Early Middle Ages / European Economy in the Middle Ages: Structural Changes / European Economy in the Middle Ages: Economic Performance / European Economy in Late Middle Ages / Society and Economy in Asia, Africa and America Before Modern Times / Geographic Expansion and Economic Consequences / Change of Economic Power Balance in Europe / Industrial Revolution / Industrialization and Economic Changes in the Nineteenth Century / Spread of Industrialization / Twentieth World Economy in the 20th Century: Structural Changes / World Economy in the Twentieth Century: Wars and Economic Performance |
| Course Code and Name | İKT519 Investment Projects Analysis |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Investment, Investment Project, Basic Concepts, Types of Investment, Investment Project, Stages, Investment Thought, Investment Idea and Pre-Feasibility, Transition to Final Project. Economic Studies, Technical Studies, Introduction to Financial Studies and Legal Studies, Economic Studies: Investigation of Economic Conditions, Market Research and Demand Analysis, Site Selection, Capacity Planning and Production Method, Determination of Economic Life, Technical Study: Fixed Investment Costs and Working Capital , Total Investments, Financial Investigation: Forming Proforma Statements, Determination of Cash Inflows and Outflows Through Economic Life, Project Evaluation Models: Static Methods, Dynamic Methods, Methods and Sampling Considering Time Value of Money, Sampling Methods and Sampling |
| Course Code and Name | İKT518 Labor Economics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Theoretical and empirical analysis of the labor market: labor supply, demand for labor, and equilibrium / Demographic characteristics (gender, race and ethnicity, marital status, etc.)) and the links between labor market positions / Human capital investments; home production and division of labor, fertility; job change and migration / Determination of real and nominal wages; compensating wage differences; trade unions, public and private sector employment, the informal sector and layered labor markets; unemployment and poverty; discrimination / Turkey selected for analysis for the labor market. |
| Course Code and Name | İKT517 Theories of Growth |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Development and Underdevelopment / Approaches Explaining Underdevelopment / Capital Accumulation and Technology / Financing of Development / Population, Employment Problems and Human Capital in Development / Development and Foreign Trade / Resource Allocation Problem / Development and Industrialization Strategies / Determinants of Sustainable Development and Poverty / Development Planning / Economic Growth and External Growth Theories / Internal Growth Theories |
| Course Code and Name | İKT516 Energy Economics and Policy |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Factors Affecting Human Economic Activities: Economic, Social, Political, Geographical / Human Resources / Natural Resources and Natural Economic Zones / Agriculture Industrial Zones / Ecology Science / Raw Materials / Mines and Energy Resources |
| Course Code and Name | İKT515 Economies of the Middle East |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Population in the Middle East and Characteristics of the Population / Role of the Public Sector in the Middle East / Natural Resources in the Middle East / Syrian Economy / Lebanese Economy / Egyptian Economy / Israeli Economy / Palestinian Economy / Iranian Economy / Jordanian Economy / Saudi Arabia Economy / Other Gulf Countries Economy / Iraq / Morocco / Tunisia and Algeria |
| Course Code and Name | İKT514 History of Ottoman Economics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | General Introduction: History, Economic History and Ottoman Economic History / Ottoman Empire: Foundation Period / Society and Economy Ottoman Economic Rationale / Economic World View Income Sources and Expenditures in Ottoman Empire Trade and Trade in Turkey: Domestic and Foreign Trade East-West Trade International Trade Customs Regime XVII. Century Ottoman Economic Order and Change Population, Agriculture, Trade / Industry Ottoman-European Economic Relations / Change in Agriculture and Industry and the Role of the State XVIII. 19th Century Ottoman Economy / Industrial Revolution and Its Effects and Consequences 19th Century Ottoman Economy: Empire and Industry |
| Course Code and Name | İKT513 Turkey Economics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Economic policies of the Ottoman Republic / Republic of Turkey in 1923 and has inherited the legacy of Economics / first fifteen years, institutional arrangements and economic development / Economy of Turkey period 1939-50 / 1950-60 Period Liberal Development Model, 1960-1978 Period: Development plans and Economic development / Economic Crisis, January 24 Stability Program / 1980s economic liberalization Applications, Privatization Program / in the 1990s Turkey Economics / 2000s Turkey Economy: inflation-Fighting Program in November 2000 and February 2001 crises and Powerful Transition to Economics Program / Analysis of Basic Economic Sectors: Agricultural, Industrial and Service Sectors in 1980-2002 Period / Foreign Economic Developments in 1980-2002 Period: Liberalization in Foreign Economic Relations: Globalization, Relations with EU / Capital Market in 1980-2002 Period: Banking Sector, Central Bank / 1980–2002 Term Is it in the Public Sector / Turkey Population, Labor and Employment Issues / Income Distribution in Turkey. |
| Course Code and Name | İKT512 Financial Markets and Institutions |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Financial Assets / Financial Markets / Globalization and Derivative Markets / Financial Intermediaries and New Developments in Markets / Deposit Acceptors / Central Banking and Monetary Policy / Insurance Companies / Investment Companies and Pension Funds / Determination of Securities Prices and Interest Rates / General Level of Interest Rates and Structure / Structure and Operation of Primary and Secondary Markets / Public Securities Market / Private Bonds Market / Stock Markets / Futures Markets / Option Markets / Swap Markets. |
| Course Code and Name | İKT511 Industrial Organization |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Industrial Organization Theory/ Modeling of Company Behavior and Sector Dynamics in the Firm / In-Sector Dynamics in Incompetitive Competitive Environments and Different Firm Structures and Behaviors / Inter-Firm Strategic Relations / Regulation Mechanisms / Endogenous R & D Investments / Integration of New Technologies into Production Process / Horizontal and Vertical Combinations. |
| Course Code and Name | İKT510 Money Economics |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description |
Money and Economy / The Nature of Money, Payment Systems and Financial System / Money Standards, Central Banking and Free Banking / Money Supply Analysis / Money Demand Analysis / Keynesian-Neoclassical Synthesis / Rational Expectations and Money / Money, Inflation, Unemployment and Inflation / Interest Theories, Inflation and Money / Monetary Policy Science-Art Discussion / Application Problems in Monetary Policy / Objectives, Instruments, Targets and Indicators of Monetary Policy / Impact Channels of Monetary Policy / Effectiveness of Monetary Policy / Open Economy and Monetary Policy / International Policy Coordination Inflationary Monetary Policy. |
| Course Code and Name | İKT509 Comparative Economic Systems |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Introduction: Economic System, Economic Model and Basic Comparison Criteria / Intellectual Environment Preparing the Capitalist System / Institutions, Development and Transformation of Capitalism / Evolution of the Capitalist System: Liberal Capitalism, Intrusive Capitalism / Success and Failure of Capitalism: Market Failures and Public Failures / Intellectual Basis of Socialist System : Socialism Before and After Marx, Market Socialism / Marxist Thought: Philosophy, History and Political Economy / Problems of Socialism and Transition Economies after 1990 / Intellectual Foundations of the Communist System / Mixed Systems / Basic Problems of Underdeveloped and Underdeveloped Countries / Economic Systems, Democracy and Growth Relationship Basic approaches used to explain human behavior. |
| Course Code and Name | İKT508 International Economic Policy |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | Arguments of Restriction of International Trade / Customs Tariffs, Small Country and Large Country Model, Effect of Tariffs on Prices and Terms of Trade / Optimum Tariff, Effective Customs Tariff Rate and Macro Effect of Tariffs / Quotas, Effects and Tariffs / Subsidies and Impacts / Dumping and International Price Differentiation / International Trade Policy Other Tools / practice of International Trade Policy: GATT and the world Trade Organization, the State’s Direct Trading and Planned Economy in Foreign Trade / Foreign Trade Planning and Technical / Economic Integration and Customs Union Theory / Turkey-EU Relations / International Reserves and Liquidity / Euro-Dollar Market / International Financial Markets and Foreign Debts of Emerging Economies / Stabilization of Goods Prices in Emerging Economies / International Factor Movements |
| Course Code and Name | İKT507 International Economic Theory |
| Local Credits / Ects | (3 0 3) 6 |
| Course Description | International Trade Theory in terms of Supply: Theory of Absolute and Comparative Advantages / Hecksher-Ohlin Theorem and Criticism / International Trade Theory in terms of Demand: Mutual Demand Law, Proposal Curves, Criticism of Mutual Demand Law / Social Indifference Curves and General Balance Analysis in Foreign Trade / Other International Trade Theories / Terms of Trade / Impoverished Growth / Balance of Payments, Balance of Payments, Money and Payments Balance / Exchange Market, Exchange Rate, Exchange Rate System Concept, International Monetary System / Fixed Exchange Rate System / Fixed Adjustable Exchange Rate System / Devaluation and Revaluation / Elasticities Approach: Marshall-Robinson-Lerner Charter / Massification Approach / Monetarist Approach / Floating Exchange Rates / Exchange Rate Systems in Practice / Open Economy Macroeconomics |