FACULTY OF BUSINESS

Department of International Trade and Finance

ITF 208 | Course Introduction and Application Information

Course Name
Financial Macroeconomics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ITF 208
Fall/Spring
3
0
3
6

Prerequisites
None
Course Language
English
Course Type
Service Course
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives The primary objective of the course is to examine the role that the financial markets and financial institutions play in modern macroeconomics, particularly focusing on the causes of recessions and depressions. The course discusses both the empirical and theoretical links between financial system and economic performance as well as case studies of the role of finance in specific business cycles episodes.
Learning Outcomes The students who succeeded in this course;
  • will be able to represent history of financial development.
  • will be able to explain business cycles and early macroeconomic theories of finance.
  • will be able to discuss Keynesian, Monetarist, Neoclassical and New Institutional Theories of Finance.
  • will be able to explain models of risk and the costs of credit intermediation.
  • will be able to apply models of credit rationing.
  • will be able to discuss the role of financial systems in monetary and stabilization policy.
  • will be able to give information about banking crises, asset bubbles, capital flight and the causes of international financial crises.
  • will be able to give information about the basics of financial markets and institutions.
Course Description The content of the course is to examine the role that the financial markets and financial institutions play in modern macroeconomics, particularly focusing on the causes of recessions and depressions.

 



Course Category

Core Courses
X
Major Area Courses
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction
2 The Basics of Financial Markets and Financial Institutions Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter1
3 A Brief History of Financial Development Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter2
4 Business cycles and Early Macroeconomic Theories of Finance Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter3
5 Business cycles and Early Macroeconomic Theories of Finance Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter3
6 Keynesian, Monetarist, and Neoclassical Theories Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter4
7 New Institutional Theories of Finance: Models of Risk and the Costs of Credit Intermediation Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter5
8 New Institutional Theories of Finance: Models of Credit Rationing Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter6
9 MidTerm
10 The Role of Financial Systems in Monetary and Stabilization Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter7
11 Banking Crises and Asset Bubbles Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter8
12 Banking Crises and Asset Bubbles Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter8
13 Capital Flight and the Causes of International Financial Crises Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter9
14 International Financial Crises: Policies and Prevention Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter10
15 What we have Learned, What we still Need to Learn about Financial Macroeconomics Modern Financial Macroeconomics: Panics, Crashes, and Crises, by Todd A. Knoop Blackwell, 2008, Chapter11
16 Final Exams

 

Course Notes/Textbooks Book Chapters and Powerpoint slides
Suggested Readings/Materials Books1) Principles of Macroeconomics: Global Financial Crisis Edition (with Global Economic Crisis GEC Resource Center Printed Access Card) by John B. Taylor and Akila Weerapana , SouthWestern College/West; 6th edition, 2009.2) Macroeconomic Theory and Its Failings: Alternative Perspectives on the Global Financial Crisis, by Steven Kates (Editor), Edward Elgar Publications, 2010JournalsReview of financial economics  Journal of financial economics  Applied financial economics  Applied financial economics letters  Current issues in economics and finance  International Journal of Applied Economics & Finance  OECD Journal of Business Cycle Measurement and Analysis  Financial TimesWall Street JournalForeign Affairs

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
5
60
Portfolio
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
40
Final Exam
Total

Weighting of Semester Activities on the Final Grade
100
Weighting of End-of-Semester Activities on the Final Grade
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
16
0
Field Work
0
Quizzes / Studio Critiques
5
12
60
Portfolio
0
Homework / Assignments
0
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
30
30
Final Exam
0
    Total
138

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to identify and analyze problems in the field of trade and finance, and to develop solutions.

X
2 To be able to use the theoretical and practical knowledge gained in the field of International Trade and Finance. X
3 To be able to analyze the developments in global markets by using critical thinking skills. X
4 To be able to analyze and interpret data in the field of finance, commerce and economics by using information technologies effectively. X
5 To be able to acquire knowledge about the legal regulations and practices in the field. X
6 To be able to foresee and define the risks that could be encountered in the field of trade and finance and to take decisions to manage such risks. X
7 To be able to acquire and use verbal and numerical skills necessary for the nature of international trade and finance program. X
8 To be able to obtain, synthesize and report the information related to the fields of trade and finance. X
9 To be able to contribute to the solution of problems as individual, team member or leader.
10

To be able to evaluate the issues related to the field with an ethical perspective and social sensitivity.

11 To be able to collect data in the areas of International Trade and Finance and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1).
12 To be able to speak a second foreign at a medium level of fluency efficiently.
13 To be able to relate the knowledge accumulated throughout human history to their field of expertise.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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