COURSE UNIT TITLE

: OPEN ECONOMY MACROECONOMICS

DEGREE PROGRAMMES

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
ECN 5030 OPEN ECONOMY MACROECONOMICS ELECTIVE 3 0 0 6

Offered By

Economics (English)

Level of Course Unit

Second Cycle Programmes (Master's Degree)

Course Coordinator

PROFESSOR DOCTOR PINAR NARIN EMIRHAN

Offered to

Economics (English)

Course Objective

The objective of the course is to provide students a theoretical base to understand the basic international financial relations among nations. The course aims to extend students knowledge and understanding of macroeconomic policy in the context of the open economy.

Learning Outcomes of the Course Unit

1   Demonstrate understanding of how exchange rates are determined within different institutional settings for monetary policy.
2   Assess the usefulness of the theory of purchasing power parity as a guide to the behavior of exchange rates.
3   Demonstrate understanding of how the effects of changes in fiscal and monetary policy are modified through the foreign exchange markets and foreign trade.
4   Interpret real world economic data and discuss whether or not they correspond with theory.

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 Introduction
2 Balance of Payments
3 Balance of Payments of Turkey
4 Exchange Markets
5 Future Exchange Transactions
6 Theories of Exchange Rate
7 Mid-term
8 Monetary and Portfolio Approaches to Exchange Rates
9 Price Change in Fixed Exchange Rate System
10 The Income Adjustment Mechanism
11 Mundell-Fleming Model
12 Mundell-Fleming Model
13 International Monetary System
14 General Overview

Recomended or Required Reading

1.Salvatore, Dominick (2004), International Economics, Eight Edition, John Wiley.
2. Lecture Notes and academic papers

Planned Learning Activities and Teaching Methods

1. Lectures
2. Class Discussions
3. Assignments

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 * 0.40 + STT * 0.10 + FIN* 0.50
5 RST RESIT
6 FCGR FINAL COURSE GRADE (RESIT) MTE * 0.40 + STT * 0.10 + RST* 0.50


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

Further Notes About Assessment Methods

None

Assessment Criteria

1. The learner will evaluate economic theories and apply them to the analysis of an open economy.
2. The learner will discuss and analyze government policies.
3. The learner will construct and use the Mundell-Fleming model.
4. The learner will apply mathematical and graphical techniques in an appropriatye manner.

Language of Instruction

English

Course Policies and Rules

It is obligatory to attend at least 70% of the classes.

Contact Details for the Lecturer(s)

saadet.kasman@deu.edu.tr

Office Hours

To be announced.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 13 3 39
Tutorials 13 1 13
Preparation for midterm exam 1 10 10
Preparation for final exam 1 20 20
Preparing assignments 4 10 40
Preparations before/after weekly lectures 13 1 13
Midterm 1 2 2
Final 1 2 2
TOTAL WORKLOAD (hours) 139

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9PO.10
LO.154
LO.2252
LO.3141
LO.41234

CONTACT INFORMATION
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Phone: +90(232) 412 12 12 - Fax: +90 (232) 464 81 35

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