COURSE UNIT TITLE

: MACROECONOMIC MODELLING

DEGREE PROGRAMMES

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
IKT 4015 MACROECONOMIC MODELLING ELECTIVE 3 0 0 5

Offered By

Economics

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR UTKU UTKULU

Offered to

Economics (Evening)
Economics

Course Objective

Based on the economic theories, explaining the econometric methods for modelling economic problems and make policy recommandations

Learning Outcomes of the Course Unit

1   To be able to evaluate problems of the macroeconomic modelling and econometric modelling
2   To be able to explain unit root analysis, non-stationary series, coentegration and structural change
3   To be able to modelling non-stationary macroeconomic time series theoretically and econometrically
4   To be able to apply related macroeconomic modelling method to the various areas of economic science
5   To be able to analyze findings of the econometric modelling in the economic theory forecasts
6   To be able to use scientific research rules and ethic rules on an academic study

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 Basic Concepts: Model, Modeling, Economic Model, Mathematical Model, Econometric Model, Economic Theory and empiricism, Modeling Requirement
2 Exercise: Fundamental Keynesian Model for the Small Open Economy
3 Econometric Modeling (Estimation, Forecasting and Simulation Methods), univariate, single equation and multi equilibrium (system) modeling and estimation
4 Time Series, Cross Section and Panel Data Analysis
5 Time Series Econometrics and Stationarity Analysis: Theory and Practice
6 Data Analysis, Stationarity of the series, spurious regression, unit root
7 Long-run, Economic Theory and Cointegration Analysis: Theory and Practice
8 Cointegration Analysis: single equation and system estimation methods
9 Cointegration Analysis: single equation and system estimation methods (continued)
10 Cointegration Analysis: single equation and system estimation methods (continued)
11 Using Econometric models at the economic policy forecasts: Lucas Critique and structural change
12 Modeling Applications: Money Demand
13 Modeling Applications: Supply and Demand Functions of Export
14 Modeling Applications: Phillips Curve

Recomended or Required Reading

Taylor, J.B. (1989), The Evolution of Ideas in Macroeconomics , The Economic Record, 65, 185-189.
Utkulu, U. (1997) How to estimate long-run relationships in economics: an overview of recent approaches , DEÜ IIBF Dergisi, 12(2), 39-48.
Charemza, W.W.&D.F. Deadman (1997), New Directions in Econometric Practice, Edward Elgar, UK.
Enders, W. (2004), Applied Econometric Time Series, 2nd Ed., Wiley.
Bardsen, G., Q. Eitrheim, E.S. Jansen & R. Nymoen (2005), The Econometrics of Macroeconomic Modeling, Oxford University Press, UK. It is recommended to read 7th Chapter with "New Keynesian Phillips Curve title of the book.
Romer, D. (1996), Advanced Macroeconomics, McGraw Hill.

Planned Learning Activities and Teaching Methods

Besides theoretical and methodology contribution in the class, the lecture, in terms of method, is supported by the economteric program application. For this purpose, theoretical knowledge are transferred to application with econometric programs.

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 MTE MIDTERM EXAM
2 MTEG MIDTERM GRADE MTEG * 1
3 FIN FINAL EXAM
4 FCGR FINAL COURSE GRADE MTEG * 0.40 + FIN * 0.60
5 RST RESIT
6 FCGR FINAL COURSE GRADE (RESIT) MTEG * 0.40 + RST * 0.60


Further Notes About Assessment Methods

None

Assessment Criteria

To be announced.

Language of Instruction

Turkish

Course Policies and Rules

To be announced.

Contact Details for the Lecturer(s)

Prof. Dr. Utku UTKULU / utku.utkulu@deu.edu.tr

Office Hours

Varies for each semester. To be announced.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 14 3 42
Tutorials 3 3 9
Preparations before/after weekly lectures 14 2 28
Preparation for midterm exam 1 5 5
Preparing assignments 1 20 20
Preparing presentations 1 20 20
Preparation for final exam 1 10 10
Midterm 1 1 1
Final 1 1 1
TOTAL WORKLOAD (hours) 136

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9
LO.111111
LO.211
LO.311
LO.411
LO.51111
LO.611

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

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