PAÜ .:. Eğitim Öğretim Bilgi Sistemi

COURSE INFORMATION

Course Code	Course Title	L+P Hour	Semester	ECTS
ECON 333	BUSINESS CYCLES AND ECONOMIC POLICY	3 + 0	8th Semester	5

COURSE DESCRIPTION

Course Level	Bachelor's Degree
Course Type	Elective
Course Objective	The course has two main objectives: First is to analyze the principal economic and theoretical mechanisms that are at the origin of business cycle fluctuations. Second is to give students the tools and methodologies that are necessary to build a rigorous business cycle analysis and to establish short-term macroeconomic policy and forecasts.
Course Content	The main focus of the course is the analysis of the economic business cycle, that is the succession over time of periods of expansion and periods of recession. The course is divided in two parts. The first part is devoted to the presentation of some important stylized facts about the economic business cycles in the advanced economies and to the analysis of the principal economic mechanisms that are considered to be at the origin of business cycle fluctuations. In the second part, it is examined the tools and methodologies that are necessary to build a rigorous conjectural analysis and to establish short-term macroeconomic policy and forecasts
Prerequisites	No the prerequisite of lesson.
Corequisite	No the corequisite of lesson.

COURSE LEARNING OUTCOMES

1	Explain the meaning and importance of the business cycles.
2	To understand the comprehensive modern theories about the business cycles
3	To learn the economic policy tools developed in accordance with the business cycle theories.
4	to learn the tools and methodologies needed to create a short-term macroeconomic policy.

COURSE'S CONTRIBUTION TO PROGRAM

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COURSE DESCRIPTION

Activities	Quantity	Duration (Hour)	Total Work Load (Hour)
Course Duration (14 weeks/theoric+practical)	14	3	42
Hours for off-the-classroom study (Pre-study, practice)	14	5	70
Mid-terms	1	7	7
Final examination	1	11	11
Total Work Load ECTS Credit of the Course			130 5

COURSE DETAILS

Select Year

	Course Term	No	Instructors
Details	2019-2020 Spring	2	MUSTAFA OZAN YILDIRIM

Course Details

Course Code	Course Title	L+P Hour	Course Code	Language Of Instruction	Course Semester	Mode of Delivery
ECON 333	BUSINESS CYCLES AND ECONOMIC POLICY	3 + 0	2	English	2019-2020 Spring	Face to Face

Course Coordinator	E-Mail	Phone Number	Course Location	Attendance
Assoc. Prof. Dr. MUSTAFA OZAN YILDIRIM	moyildirim@pau.edu.tr		İİBF C0104	%70

Goals		The course has two main objectives: First is to analyze the principal economic and theoretical mechanisms that are at the origin of business cycle fluctuations. Second is to give students the tools and methodologies that are necessary to build a rigorous business cycle analysis and to establish short-term macroeconomic policy and forecasts.
Content		The main focus of the course is the analysis of the economic business cycle, that is the succession over time of periods of expansion and periods of recession. The course is divided in two parts. The first part is devoted to the presentation of some important stylized facts about the economic business cycles in the advanced economies and to the analysis of the principal economic mechanisms that are considered to be at the origin of business cycle fluctuations. In the second part, it is examined the tools and methodologies that are necessary to build a rigorous conjectural analysis and to establish short-term macroeconomic policy and forecasts

Topics

Weeks	Topics
1	Introduction, Syllabus and Basic Facts
2	The Facts of Business Cycles: Why Study Business Cycles?
3	The Macroeconomic Theory of Business Cycles: Early Business Cycles Theories
4	The Macroeconomic Theory of Business Cycles: Keynes and Keynesian Theory
5	The Macroeconomic Theory of Business Cycles: The Monetarist Model
6	The Macroeconomic Theory of Business Cycles: The Rational Expectations Model
7	The Macroeconomic Theory of Business Cycles: Real Business Cycle Models
8	The Macroeconomic Theory of Business Cycles: New Keynesian Models
9	The Macroeconomic Theory of Business Cycles: Models of Credit and Financial Instability
10	Modern International Recessions and Depressions
11	Business Cycles in Turkey
12	Business Cycles and Fiscal Policy
13	Stabilization Policy: How and Why?
14	Conclusions

Materials

Materials are not specified.

Resources

Resources	Resources Language
Knoop, A. T. (2010). Recessions and Depressions: Understanding Business Cycles	English

Course Assessment

Assesment Methods	Percentage (%)	Assesment Methods Title
Final Exam	60	Final Exam
Midterm Exam	40	Midterm Exam

L+P: Lecture and Practice
PQ: Program Learning Outcomes
LO: Course Learning Outcomes

Prospective Student