Graduate Education Institute · Islamic Economics and Finance (English) · Master
ECTS: 7.5 T+P+L: 3+0+0 Departmental Elective
Coordinator:
Course Objective
The main objective of this course is to analyze the economic problems from a global perspective and to search for solutions through the knowledge gained from the basic concepts and subjects of macroeconomics.
Course Content
Macro economics is a course that systematically examine the following issues; national income, basic macroeconomic problems and policy instruments, determination of income and price level, total income-total expenditure model, public budget and fiscal policy, monetary theory and policy, international finance, economic growth and development issues.
Course Learning Outcomes
- The student will be able to evaluate macro economics, analyze macroeconomics in terms of money, commodity and labor markets by using macro magnitude; will also be able to understand current economic problems and produce solutions.
Core Area Distribution
(22) Humanities%100
Teaching Methods
ExpressionDiscussionExercise and PracticePresentationGuided PracticeProblem Solving
Assessment & Evaluation
Testing (Essay / Tests: True-Falls, multiple-choice, short answer, matching)
ECTS / Workload
| Activity | Quantity | Duration (h) | Total Workload |
|---|---|---|---|
| Course Duration (Including Exam Week) | 16 | 3 | 48 |
| Out of Class Study Period | 16 | 5 | 80 |
| Midterm | 1 | 4 | 4 |
| Quiz | 0 | 0 | 0 |
| Assignment | 14 | 3 | 42 |
| Practice | 0 | 0 | 0 |
| Final | 1 | 4 | 4 |
Course Schedule
| Week | Subject | Preparation |
|---|---|---|
| 1 | General Intro. | .Related Articles |
| 2 | Keynesian Theory, IS-LM model | . |
| 3 | Keynesian Theory and IS-LM | Paul Samuelson and Robert Solow (1960), “Analytical Aspects of Anti-Inflation Policy,” American Economic Review 50: pp. 177-94. |
| 4 | IS-LM model III | . |
| 5 | Phillips Curve | . |
| 6 | New Keynesian Models | Mankiw, N. Gregory, 1988. “Imperfect competition and the Keynesian cross,” Economics Letters, Elsevier, vol. 26(1), pages 7-13 |
| 7 | Monetarism and New Classical Economics | Milton Friedman (1968), “The Role of Monetary Policy,” American Economic Review 58 (May): 1-17. Robert Lucas and Thomas Sargent(1979),“After Keynesian Macroeconomics,” in After the Phillips Curve: The Persistence of High Inflation and High Unemployment (Boston: Federal Reserve Bank of Boston), chapter 19. |
| 8 | Midterm | . |
| 9 | The Solow Model and Growth Accounting | – Robert M. Solow, “A Contribution to the Theory of Economic Growth,” Quarterly Journal of Economics, February 1956, pp. 65-94. – Robert Solow (1957), “Technical Change and the Aggregate Pro- duction Function,” Review of Economics and Statistics 39: pp. 312-20. |
| 10 | The Neoclassical growth model | Sala-i-Martin, Xavier X, 1996. “The Classical Approach to Convergence Analysis,” Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-36, July. |
| 11 | The Neoclassical growth model | Sala-i-Martin, Xavier X, 1996. “The Classical Approach to Con- vergence Analysis,” Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-36, July. |
| 12 | Overlapping Generations | Peter A. Diamond, “National Debt in a Neoclassical Growth Model,” American Economic Review, December 1965, pp. 1126- 1150. |
| 13 | Overlapping Generations II | . |
| 14 | Endogenous Growth Theory | – Romer, Paul M. 1990. “Endogenous Technological Change.” Journal of Political Economy 98 (October, Part 2): S71-S102. – Solow, Robert M, 1994. “Perspectives on Growth Theory,” Jour- nal of Economic Perspectives, American Economic Association, vol. 8(1), pages 45-54, Winter. |
| 15 | Augmented Growth Models | . |
| 16 | Overview | . |