| Course Unit Code | Course Unit Title | Type of Course Unit | Year of Study | Semester | Number of ECTS Credits | | İKT603 | MONETARY THEORY | Compulsory | 1 | 1 | 5 |
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| Level of Course Unit |
| Second Cycle |
| Objectives of the Course |
| The aim of this course is to create the theoretical ground on the functioning of the monetary and financial system by dealing with advanced topics in monetary theory, to ensure that the student is equipped to analyze the monetary and financial system and to understand the necessary policies. |
| Name of Lecturer(s) |
| Dr. Öğr. Üyesi Aslı GÜLER |
| Learning Outcomes |
| 1 | Gain information fundamental conceptions, process and methods about money market, monetary theory and policy. | | 2 | Understand that the logic of money markets, the description of money supply and its determinants, money demands theories, the aims and instruments of monetary policy and fiscal policies. | | 3 | Determine the money supply by the aid of balance sheets of CB and dep.banks, the money multiplication, money demand and interest rates, the using of mon. pol. Instr., monetary transm. mech. and money and fiscal policy appl. | | 4 | Analyze the interaction mechanisms between financial sector and real sector by using technics which learned in monetary theory and policy courses and macroeconomics especially for Turkish economy and other economies. | | 5 | Attain the results that they are able to use by institutions that they implement economic stabilisation measures and monetary policy. |
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| Mode of Delivery |
| Formal Education |
| Prerequisites and co-requisities |
| To have taken the undergraduate monetary theory and policy course. |
| Recommended Optional Programme Components |
| None |
| Course Contents |
| Interaction between money and macroeconomic variables, Money Demand, Money supply, Determining the interest rate, Determining the exchange rate |
| Weekly Detailed Course Contents |
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| 1 | İntroduction to the theory of money
| | | | 2 | Potential growth rate, price stability, financial stability, interest and exchange rate rates and monetary policy relations. | | | | 3 |
Functions of money, dysfunctionality of money, money in utility function | | | | 4 | Money demand theories | | | | 5 | Electronic money | | | | 6 |
CBRT Balance Sheet | | | | 7 | Creating Money Base | | | | 8 |
Mid-term exam
| | | | 9 | Definition of money suply and the role of central bank (theoretical definition of money suply and CBRT definition of money suply
| | | | 10 | The process of money suply (deposits, loan, and money multipliers)
| | | | 11 | Present value, internal rate of return, yield to maturity, rate of return and real interest. | | | | 12 | Determining the interest rate level | | | | 13 | Risk and Interest, Term structure of interest rates
| | | | 14 | Nominal and real exchange rates, movements in exchange rates disconnected from economic fundamentals, exchange rate models | | | | 15 | Purchasing power parity theories, uncovered interest rate parity, the effect of expectations on the rate of interest
| | | | 16 | Written end-of-term exam
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| Recommended or Required Reading |
| Fatih Özatay, Parasal İktisat: Kuram ve Politika, Efil Yayınevi.çkin Yayıncılık ve Dağıtım,2002, Ankara |
| Planned Learning Activities and Teaching Methods |
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| Assessment Methods and Criteria | |
| SUM | 0 | |
| SUM | 0 | | Yarıyıl (Yıl) İçi Etkinlikleri | 40 | | Yarıyıl (Yıl) Sonu Etkinlikleri | 60 | | SUM | 100 |
| | Language of Instruction | | Turkish | | Work Placement(s) | | None |
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| Workload Calculation |
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| Midterm Examination | 1 | 1 | 1 |
| Final Examination | 1 | 1 | 1 |
| Attending Lectures | 14 | 3 | 42 |
| Individual Study for Mid term Examination | 8 | 6 | 48 |
| Individual Study for Final Examination | 6 | 10 | 60 |
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| Contribution of Learning Outcomes to Programme Outcomes |
| LO1 | 5 | 5 | 4 | 5 | 5 | 5 | 4 | 3 | 4 | 5 | 4 | 3 | 4 | 4 | | LO2 | 5 | 5 | 4 | 5 | 5 | 5 | 4 | 3 | 4 | 5 | 4 | 3 | 4 | 4 | | LO3 | 5 | 5 | 4 | 5 | 5 | 5 | 4 | 3 | 4 | 5 | 4 | 3 | 4 | 4 | | LO4 | 5 | 5 | 4 | 5 | 5 | 5 | 4 | 3 | 4 | 5 | 4 | 3 | 4 | 4 | | LO5 | 5 | 5 | 4 | 5 | 5 | 5 | 4 | 3 | 4 | 5 | 4 | 3 | 4 | 4 |
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| * Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High |
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