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Course Contents

/Course Contents
Course Contents2017-08-04T09:23:20+00:00

ECON 101 Introduction to Economics I (3 0 3) (ECTS:6)

This is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course begins with an introduction to supply and demand and the basic forces that determine an equilibrium in a market economy. Then, it introduces a framework for learning about consumer behavior and analyzing consumer decisions. The final section of the course turns our attention to firms and their decisions about optimal production, and the impact of different market structures on firms’ behavior.

ECON 102 Introduction to Economics I (3 0 3) (ECTS:6)

This is an introductory level macroeconomics course that examines the short-run and long-run determination of key macroeconomic variables in both closed and open economies, primarily in the context of an AD/AS model. Topics covered include national income, theory of income determination, money and banking, fiscal policy, monetary policy, and international trade.

ECON 107 Computer Application in Social Sciences (1 2 2) (ECTS:5)

Computer hardware and software, Computer and Information System, Windows Operating System, Microsoft Word, Excel, and PowerPoint, Internet browsing, Introduction to Statistical Package for Social Scientists (SPSS), Data handling in SPSS, Data Tables and Charts.

ECON 203 Public Finance (3 0 3) (ECTS:5)

This course examines the economics of government policy. It relies on theoretical and empirical research to explore how government affects the allocation of resources and the distribution of income and to characterize optimal government policy. Topics covered include the economic role of government, the public provision for social goods, public choice and fiscal politics, public expenditures and introduction to taxation.

ECON 204 Economic History (3 0 3) (ECTS:5)

A survey of world  economic history covering primitive societies, slave owner and feudal societies, asian mode of production, industrial revolution, colonization, economic developments in the world during 20th century, economic history of ottomans and republic of turkey.

ECON 207 Microeconomic Theory I (3 0 3) (ECTS:5)

In this course following topics will be covered: Unconstrained Optimization, Constrained Optimization, Budget Constraint, Utility, Choice, Demand, Slutsky Equation, Consumer Surplus, Demand Elasticities, Application of Consumer Choice Theory, Uncertainty, Equilibrium, Production and Costs

ECON 208 Microeconomic Theory II (3 0 3) (ECTS:5)

In this course the following topics will be covered: Profit Maximization and Competitive Firm, Competitive Industry, Application of Competitive Market Theory, Monopoly, Monopolistic Competition, Oligopoly, Applications of Noncompetitive Market Models, Economics of Information, Employment and Pricing Inputs, Wage, Rent, Interest and Profit, Application of Input Market Analysis, General Equilibrium, Welfare Economics, Public Goods and Externalities

ECON 209 Macroeconomic Theory I (3 0 3) (ECTS:5)

This is the first intermediate level core macroeconomic theory course in the eight-quarter undergraduate sequence in economics. Its purpose is to analyze the functioning of the aggregate economy starting from topics in basic ggregate data measurement. Given an introduction to the macroeconomic data and the basic flexible price model, the course addresses the macroeconomic concern of long‐run economic growth and its determinants. The course covers the following topics: macroeconomic measurement and data, labour markets and unemployment, economic growth, consumption and saving, investment, and money and banking.

ECON 210 Macroeconomic Theory II (3 0 3) (ECTS:5)

This is the second intermediate level core macroeconomic theory course in the eight-quarter undergraduate sequence in economics. The topics we shall study include the business cycles, the effectiveness of the government’s intervention through fiscal and monetary policies, macro policies under different exchange rate systems, government debt and budget deficits, the financial system, and alternatives perspectives on stabilization policy.

ECON 214 History of Economic Thought (3 0 3) (ECTS:4)

A historical survey of the development of economic analysis covering the contributions of Mercantilists, Physiocrats, Classical economists, Marxists, Institutionalists, Neo-Classics, Keynesians and Neo-Liberal schools of thought.

ECON 301 Theory of International Economics (3 0 3) (ECTS:5)

In this course first mercantilists’ view on trade, Adam Smith’s Law of Absolute Advantage and David Ricardo’s Law of Comparative Advantage will be studied. Then standard trade theory will be presented which will be followed by analysis of equilibrium relative price with trade. After that, Hechscher-Ohlin (H-O) Theory will be looked into. New trade theories based on imperfect competition will be covered next. Finally trade barriers including tariffs quotas and export subsidies will be analyzed.

ECON 302 International Economics Policy (3 0 3) (ECTS:4)

In this course first balance of payments will be studied. Then equilibrium foreign exchange rate, arbitrage, spot and forward rates, swaps, futures, options, speculation and interest arbitrage will be covered. Next topic will be theories about exchange rate determination such as purchasing power parity theory and monetary approach to exchange rate determination. Then balance of payments adjustment with exchange rate changes, stability of foreign exchange markets, j-curve effect and currency pass-through will be analyzed. Next income determination in an open economy, foreign repercussions and absorption approach will be studied. Finally adjustment policies in the context of IS-LM-BP model will be analyzed.

ECON 303 Research Methods (3 0 3) (ECTS:5)

Theoretical approaches, methodology and strategy in social research; quantitative and qualitative research methods; ways of collecting and evaluating data; sampling techniques; preparation and implementation of results; ethical problems of research.

ECON 305 Money and Banking (3 0 3) (ECTS:5)

This is an undergraduate course that focuses on the study of financial markets and institutions, especially the study of money and banking. Four topic areas will be stressed: Fundamentals of Financial Markets, Financial Institutions, Central Banking and the Conduct of Monetary Policy,. Economic tools and concepts will be developed within a unifying analytical framework to enable students understand issues in these topic areas. The real-world application of these tools and concepts will also be stressed.

ECON 306 Monetary Policy (3 0 3) (ECTS:5)

This course will investigate the origins and role of money, theories regarding the supply of and demand for money and the role of money in determining aggregate demand, output, prices and other key macroeconomic variables. The relationship between money, credit and debt will be emphasized. This course will also analyse the evolving role of central banking and views regarding the role and conduct of monetary policy, including recent and historical international policy actions.

ECON 307 Public Sector Economics (3 0 3) (ECTS:4)

This course will cover the major topics in public sector economics. We will examine the issues concerning the provision and allocation of public goods and services from a theoretical perspective, and look into some cases of public provision such as education, social insurance, social security, and health insurance.

ECON 308 Fiscal Policy (T) (3 0 3) (ECTS:5)

The objective of the course is to introduce the students to the study of fiscal policy and some of the ongoing academic debates. In this course the following topics will be covered: types of government expenditure, different views towards government expenditure, taxation,  types of inflation and fiscal policies against inflation, role of treasury and central bank, seignorage and the Laffer curve, crating revenue through government bonds, international fiscal institutions, foreign aid, depression, tax policies to cure depression, stagflation, solving the problem of stagflation

ECON 311 Econometrics I (2 2 3) (ECTS:6)

ECON311 is the first course in the Econometrics sequence. This course is designed to provide students with an introductory level of the econometrics and its practices. Practical issues is going to be studied in the lab lectures exercising with real data set by using Eviews and Stata softwares. Topics include Classical Linear Regression; Methods of Estimation; goodness of fit and test of hypothesis; model specification and model selection

ECON 312 Econometrics II (2 2 3) (ECTS:6)

ECON311 is the second course in the Econometrics sequence. This course include the topics such as functional forms of econometric models, working with qualitative variables, and the consequences and remedies for deviations from assumptions used for classical models.

ECON 313 Tax Law (T) (3 0 3) (ECTS:4)

The course addresses the principles of taxation and Turkish Tax System. It focuses on the sources of the Turkish tax legislation, procedures of taxation, tax laws and their applications in Turkey, and Turkish Tax Administration.

ECON 403 Development Economics (3 0 3) (ECTS:5)

The nature of economic development theories, historical roots and general aspects of underdevelopment, major theories of economic development, sustainable growth, structural changes in underdeveloped countries, ecological problems

ECON 407 Turkish Economy (3 0 3) (ECTS:5)

Overall structure of the turkish economy, national income, savings, investments, public economy, privatization and neo-liberal economic policies, international economic relations, past economic crisis, major sectors of the economy covering agriculture, industry and  services and their sub- sectors, regional economic differences, future economic expectations

ECON 408 European Union (3 0 3) (ECTS:5)

Main topics that are covered in this course are: Foundations of EU, Institutional Framework of EU, Policies of EU, Economic and Monetary Union and finally EU-Turkey Relations

ECON 409 International Economic Relations of Turkey (3 0 3) (ECTS:5)

The course aims to deepen students’ understanding of how economic theory can be theoretically and empirically applied to economic policy problems, taking Turkey as a case study. Concepts are illustrated in terms of selected current economic issues by using articles from journals and newspapers. Strong emphasis will be given to the role of economic policy and institutions, both at the national and international level.

ECON 410 Economic Analysis (3 0 3) (ECTS:5)

This course reviews concepts and techniques usually covered in algebra, analytical geometry, and the first semester of calculus. The course emphasizes the reasons economists use mathematical concepts and techniques to model behavior and outcomes.  Lectures will demonstrate the power of math to answer economic questions, stressing the reasons economists use math and explaining mathematical logic and techniques. Discussion sections will demonstrate solutions for problems, answer questions about material presented in the lectures or book, and focus on preparing students for exams.

ECON 411 Industrial Organization (3 0 3) (ECTS:5)

Analysis of the behavior of firms under different industrial structures – competitive, monopolistic, oligopolistic. Specific topics covered include pricing, product differentiation, imperfect competition, collusion and cartels, vertical and horizontal integration, mergers, and network effects. Main analytical tools will be microeconomic theory and game theory. The theoretical work will be supplemented with empirical evidence from academic research and the popular press.

ECON 412 Seminar in Economics (0 6 3) (ECTS:5)

Students shall choose a seminar topic in economics with the supervision of the lecturer as their assignment. After their research work, written papers shall be submitted to the lecturer and their work shall be subject to the class discussion.

ECON 413 Agricultural Economics (3 0 3) (ECTS:5)

This course is an introduction to the study of the field of agricultural economics and fundamental economic problems and their applications to the problems of the industry of agriculture. Concepts are illustrated in terms of selected current social and economic issues, including the role of agriculture in both the national and international dimension. The main topics that will be covered are natural resources, the environment and agriculture, government intervention in agriculture, impacts of macroeconomic policy actions on agriculture, why nations trade, agricultural trade policy and preferential trading arrangements.

ECON 414 Labor Economics (3 0 3) (ECTS:5)

This course explores how labor markets operate and how institutions shape labor market performance and outcomes from a theoretical and empirical perspective. Topics to be covered include, labor supply, labor demand, wage determination, human capital, wage inequality, mobility, discrimination, unions, labor discipline, unemployment and bargaining power.

ECON 415 Competition Policy and Regulation (3 0 3) (ECTS:5)

This course examines economic theory of the competition law (antitrust) and policy in the light of the important cases from USA, Europe and Turkey. The course introduces the instruments of the competition policy, and examines the reasoning behind the government intervention to the markets with these instruments. The relationship between competition policy, economic regulation, privatization and state aids will be also discussed in the course.

ECON 416 Financial Markets (3 0 3) (ECTS:5)

In this course topics that will be covered include: reasons for studying financial markets, functions and structure of financial markets, present value, types of credit market instruments, yield to maturity, interest rates and returns, real and nominal interest rates, determinants of asset demand, equilibrium in bond market and equilibrium interest rate, liquidity preference framework and money market equilibrium, risk and term structure of interest rate, computing price of a common stock, how markets set prices, rational expectations, efficient market hypothesis, behavioural finance, financial regulation, causes of financial crises and dynamics of financial markets in emerging market economies

ECON 417 Transition Economies (3 0 3) (ECTS:5)

The analysis of the economic policies of transition economies (Former ‘‘Socialist Block’’) in close connection with their historical, cultural and political aspects; their economic relations with Turkey; the future impact of the transitional economic policies on these countries and on the world economy.

ECON 418 Turkish Tax System (3 0 3) (ECTS:5)

The course cover the following topics: The sources of  taxes in Turkey, basic tax concepts, tax payers and their responsibilities, tax collection, taxes on income, wealth, and consumption.

ECON 419 Environmental Economics (3 0 3) (ECTS:5)

This course analyzes the theoretical tools and empirical techniques necessary for understanding of resource and environmental economics, developed in both static and dynamic framework. The main focus of the course is on the theory of externalities and regulation theory, as applied to environmental problem.

ECON 420 Urban Economics (3 0 3) (ECTS:5)

This course draws on economic theory and applied methods to analyze the factors underlying urban economies and the markets for land, housing, and transportation. A number of key topics in urban economics will be considered: the theory of location choice and land rents; agglomeration, congestion and other local spillovers; housing investment and the evolution of the housing stock; land use and land use regulation; and local public finance.

ECON 421 Business and Society (3 0 3) (ECTS:5)

This course is designed to investigate the broad range of business ethics issues that managers face today and will face in the future.  A critical focus is placed on effectively managing the firm’s political, legal, economic, and social stakeholders.

ECON 422 International Monetary System (3 0 3) (ECTS:5)

The course will include the following topics: exchange rate determination, monetary and fiscal policy in an open economy, financial crises, the choice of exchange rate systems, the single currency in Europe, global finance imbalances, and international debt. The course will start by introducing the basic concepts and models of international macroeconomics. In the rest of the semester students will learn how to apply these models to recent events and current policy issues.

ECON 423 Time Series Econometrics (3 0 3) (ECTS:5)

The course will provide a basic introduction to modern time series analysis. Topics covered include time series regression, ARIMA models, unit root tests and multi equation time series models.

ECON 424 Contemporary Issues of Economic Theory (3 0 3) (ECTS:5)

This course revolves around current debates in economic theory, economics and human behavior, desicion making under uncertainity, neuro-economics ecological – green economy, feminist economy, neo-marxists, evolotionary economics, globalization& its consequences.

ECON 425 Applied Econometrics (2 2 3) (ECTS:5)

This course introduce R programming and its use in handling the econometrics problems. The R being a platform of open-source free software provides an ideal computing environment for learning the application of econometrics through creating and sharing users’ own modules. R system is introduced and R programming, data management in R, and R graphics are discussed. Linear regression using R is explored and econometrics models are studied using data sets from the data archives of leading applied econometrics sources.

ECON 426 Introduction to Game Theory (3 0 3) (ECTS:5)

In this course first basic concepts of Game theory in the context of static games will be introduced, which include dominant strategy, weakly dominant strategy, dominant strategy equilibrium, iterated dominant strategy and iterated equilibrium, Nash equilibrium and games with continuous strategies. Then applications of game theory in oligopolistic settings will be studied, which include Cournot game, Bertrand game, Stackelberg game and Contestable monopoly. Next some examples from strategic trade policy will be given. Then dynamic games with complete information will be studied where game tree representation of games, subgame perfect equilibrium and backward induction will be looked at. Finally repeated games will be looked into

ECON 427 Introduction to Economic Dynamics (3 0 3) (ECTS:5)

This course is an example-driven treatment of introductory economic dynamics for students with a basic familiarity with spreadsheets. It aims to teach students to set up and investigate simple dynamic models.  It studies the “motion” of economic processes: disequilibrium behavior in convergence to equilibrium. This course presents the essentials of macroeconomic dynamics, including: Keynesian Dynamics, IS-LM dynamics, inflation-unemployment dynamics, rational expectations and saddle points, fiscal dynamics and chaos theory.

ECON 428 Economics of Innovation and Knowledge (3 0 3) (ECTS:5)

The course begins with an introduction to the economic analysis of knowledge, creation of which is a public good. Policy issues are considered next, which include the different methods for rewarding innovation, such as prizes, intellectual property, and contests. Other topics considered are the diffusion of knowledge, the role that knowledge plays in the economic growth of nations, how new knowledge is transferred, how technological change affects policy and the distribution of income.

ECON 430 Game Theory (3 0 3) (ECTS:5)

In this course first dynamic games with complete information will be studied, which include Subgame Perfect Equilibrium, Repeated Games and Bargaining. Then Uncertainty will be introduced into games. And then static games with incomplete information and dynamic games with incomplete information will be analysed.

ECON 432 Topics in Econometrics (2 2 3) (ECTS:5)

This course covers advanced topics in econometrics. The course starts with a review of basic techniques of estimation and inference, and gradually moves into more advanced topics, such as Instrumental variables; Model selection and specification; Probit, logit and Tobit models; Simulation methods.

ECON 434 Panel Data Econometrics (3 0 3) (ECTS:5)

The important subjects in this course are pooled, random and fixed effect estimators for large N small T panels, Mean Group estimator, seemingly unrelated regression and pooled mean group estimators for small N and large T or large N large T panels. Topics of tests of panel unit root, panel cointegration, and cross section dependency will also be covered.

ECON 436 Introduction to Economic Growth (3 0 3) (ECTS:5)

The aim of the course is to provide students with a rigorous introduction to the conceptual tools developed to analyze and identify the sources of economic progress. What makes economies grow? Why are some countries so rich and others so poor? What explains growth miracles and disasters? The course will cover the exogenous and endogenous growth model;, and discuss the role of ideas, human capital, and innovation in the growth process.

ECON 499 Field Study (0 6 3) (ECTS:5)

Before the semester begins, the assigned faculty members of the department will search for companies, firms or institutions where students can go and help them solve a problem they have related with economics. Once the semester begins, under the guidance of a faculty member, the students will visit the selected company on a regular basis and come up with a solution to the previously determined problem of the company. In the end of the semester, students are expected to prepare a report and present it.