COURSE UNIT TITLE

: ECONOMIC CYCLE TEORIES

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
IKT 5124 ECONOMIC CYCLE TEORIES ELECTIVE 3 0 0 5

Offered By

Economics

Level of Course Unit

Second Cycle Programmes (Master's Degree)

Course Coordinator

PROFESSOR DOCTOR NEVZAT ŞIMŞEK

Offered to

Economics

Course Objective

In the countries where the market economy is hegamonic, the economic activity level doesn t always maintain a certain level and does not develop in a continious form. Conversely, it shows a continious fluctuation. This situation was put forth by studies on economic life and it is obverved that these fluctuations result from differerent effect, direction and intensity of economic, social, psychological and etc causes on the event examined. The aim of this course is to question the causes of business cycles on theoritical bases. The theoretical explanations put forth on this subject and also the economic crisis in Turkey and the World economies will be taken in hand with the basic articles in the literature.

Learning Outcomes of the Course Unit

1   To be able to learn the theoretical explanations of why do economies live business cycles.
2   To be able to understand the viewpoints of different approaches in the economic theory in the context of external and internal theories.
3   To be able to comprehend the interaction of econometry, philosophy, politics and economic theory.
4   To be able learn the evolution of ideas in macroeconomics.
5   To be able to learn the approaches which were developped about the reasons and the effects of business cycles.
6   To be able to learn the causes and the results of economic crises in Turkey and the World.

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 Economic methodology and the evaluation of business cycles in the context of economic methodology
2 Business cycles and its types, Cyclic situation analysis, the causes of cycles
3 The Classical theory and its mechanism, Cycle theory
4 Some basic arguments, remindings and first period business cycle theories.
5 Keynesian theory and cyclical fluctuations
6 Monetarist theory and cyclical fluctuations
7 New classical theory and cyclical fluctuations
8 Real Business cycles
9 Real Business cycles (midterm exam will be held in this week except the course hour)
10 New keynesian theory and cyclical fluctuations.
11 Political business cycles.
12 Financial crisis models.
13 Cyclical fluctuations in the world and crises
14 Cyclical fluctuations in Turkey and crises

Recomended or Required Reading

Main References:
- Hall, Thomas E. (1990); Business Cycles: The Nature and Causes of Economic Fluctuations, Preager Publishers,New York.
Supplementary References:
- Green, Steven L. (1993); Macroeconomics Analysis and Application,The Dryden Press,USA.
- Snowdon, Brian, Vane, Howard ve Wynarczyk, Peter (1994); A Modern Guide to Macroeconomics, Edward Elgar Publishing Company, Cambridge.
- KIng, Robert G. ve Plosser, Charles I. (1984); Money, Credit, and Prices in a Real Business Cycle , American Economic Review, Vol. 74, No.3, June.
- Kydland, Finn E. ve Prescott, Edward C. (1990); Business Cycles:Real Facts and Monetary Myth , Federal Reserve Bank of Minneapolis Quarterly Review, Spring.
- Long, John B. ve Plosser, Charles I. (1983); Real Business Cycles ,Journal of Political Economy,Vol.:91, Number:1, February.
- POLAT, Eralp (2005), Konjonktürel Dalgalanmalar ve Sermaye Piyasası, IMKB Örneği , Mert Matbaacılık, Istanbul.

Planned Learning Activities and Teaching Methods

It is especially important for the student who take the course formally to participate and continue the course, and it is an important factor to determine their in period and after period performances. As well as participation to the course every participant have to prepare a research study (end of period study) in the concept of the course. The course will be operated through verbal explanation and theoritical argument.

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 MTE MIDTERM EXAM
2 STT TERM WORK (SEMESTER)
3 FIN FINAL EXAM
4 FCG FINAL COURSE GRADE MTE * 0.30 + STT * 0.30 + FIN* 0.40
5 RST RESIT
6 FCGR FINAL COURSE GRADE (RESIT) MTE * 0.30 + STT * 0.30 + RST* 0.40


*** Resit Exam is Not Administered in Institutions Where Resit is not Applicable.

Further Notes About Assessment Methods

As well as exams done, presentations and tasks will be decisive.

Assessment Criteria

A written document containing the above-mentioned learning outcomes and presentations, the course through oral discussions, practical evaluation of the results discussed within the group.

Language of Instruction

Turkish

Course Policies and Rules

Students must join at least 70% of the courses which is equal to minimum 10 weeks of lesson.

Contact Details for the Lecturer(s)

Room Number 432, Dokuz Eylul University, Faculty of Economics and Administrative Sciences, Campus of Dokuzcesmeler

Office Hours

Thursdays, 10:00 - 11:00

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Giving the Lecture 14 3 42
Before/After Lecture Preperation Process 13 2 26
Preperation for the mid exam 1 20 20
Preperation for the final exam 1 25 25
Preperation of essay 1 15 15
Final Exam 1 3 3
Mid Exam 1 3 3
TOTAL WORKLOAD (hours) 134

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9
LO.1535
LO.245
LO.323
LO.44245
LO.554
LO.62435