MONEY THEORY AND POLICY PROGRAMME COURSE DESCRIPTION

Code	Name of the Course Unit	Semester	In-Class Hours (T+P)	Credit	ECTS Credit
EFS509	MONEY THEORY AND POLICY	1	3	3	6

GENERAL INFORMATION
Language of Instruction :	Turkish
Level of the Course Unit :	MASTER'S DEGREE, TYY: + 7.Level, EQF-LLL: 7.Level, QF-EHEA: Second Cycle
Type of the Course :	Elective
Mode of Delivery of the Course Unit	-
Coordinator of the Course Unit	Assist.Prof. MEHMET SAYA
Instructor(s) of the Course Unit	Assist.Prof. MUSTAFA KEREM BÖRÜ
Course Prerequisite	No

OBJECTIVES AND CONTENTS
Objectives of the Course Unit:	The aim of this course is to provide the students with a general knowledge on monetary theory and policy. Especially financial institutions, central banking, money supply and demand and money policy.
Contents of the Course Unit:	Introduction (why study money?, what is money?, definitions of money and it's functions) , financial system (financial markets, it's structure, tools and functions, financial institutions) , financial sector in Türkiye (the central bank, commercial banks, investment and development banks, insurance companies, credit cooperatives) , money supply (the definitions of money supply and the role of central banking, multiple deposit creation and money supply process, money multiplier end factors that determine the money multiplier) , demand for money, general structure of monetary policy (goals of monetary policy, tools of monetary policy: required reserve ratio, discount policy, open market operations, interest rate, selective credit control) , monetary policy strategies (the role nominal anchor, exchange rate targeting, monetary targeting, inflation targeting, monetary policy application in Turkey) , monetary and fiscal policies (real and monetary compartment in economy, IS-LM analysis) , transmission mechanisms of monetary policy.

KEY LEARNING OUTCOMES OF THE COURSE UNIT (On successful completion of this course unit, students/learners will or will be able to)
Gain information fundamental conceptions, process and methods about money market, monetary theory and policy.
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.
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..

WEEKLY COURSE CONTENTS AND STUDY MATERIALS FOR PRELIMINARY & FURTHER STUDY
Week	Preparatory	Topics(Subjects)	Method
1	-	Meaning, features and occuring and kinds of money	-
2	-	Functions of money and definition of money suply	-
3	-	Functions of financial markets, basic structure and instruments of financial markets	-
4	-	Functions of financial intermediation, mainly financial institutions and financial institutions in Türkiye	-
5	-	Cental Bank of Republic of Türkiye, commercial banks, Istanbul Stock Exchange Market, bankers and other financial institutions.	-
6	-	Definition of money suply and the role of central bank (theoretical definition of money suply and CBRT definition of money suply	-
7	-	Process of money suply (deposits, loan, and money multipliers)	-
8	-	MID-TERM EXAM	-
8	-	MID-TERM EXAM	-
10	-	Modern quantity theory (Chicago approach of Neo-classical school) and Keynesian money demand theory	-
11	-	Basic structure, goals and instruments of monetary policy	-
12	-	Strategies of monetary policy (exchange rate targeting, monetary targeting, inflation targeting)	-
13	-	The applications of monetary policies in Türkiye	-
14	-	Monetary and fiscal policies, real and nominal sectors and IS-LM analysis, inefficiency of moneary and fiscal policies (crowding out)	-
15	-	Macroeconomic general balance analysis: according to different economic schools transmitions mechanism (general balance analysis in Keynesian and Classical systems)	-
16	-	FINAL EXAM	-
17	-	FINAL EXAM	-

SOURCE MATERIALS & RECOMMENDED READING

ASSESSMENT
Assessment & Grading of In-Term Activities	Number of Activities	Degree of Contribution (%)	Description	Examination Method
Mid-Term Exam	1	50
Final Exam	1	50
TOTAL	2	100

Level of Contribution
0	1	2	3	4	5

KNOWLEDGE
Theoretical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Summarizing the basic and advanced topics regarding economics and finance				3
2	Identifying the theories regarding economics and finance				3
3	Having knowledge of international economics and finance				3

KNOWLEDGE
Factual
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Interpreting the relevance of economics and finance with the other disciplines				3

SKILLS
Cognitive
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Interpreting the contemporary affairs regarding economics and finance				3
2	Expressing opinion about national and international economy politics				3

SKILLS
Practical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Making economic and financial analyses				3
2	Preparing files for economics and finance			2

OCCUPATIONAL
Autonomy & Responsibility
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Searching efficiently the literature related to the field				3
2	Doing qualitative and quantitative researches about the issues related to the field				3
3	Recognizing data collecting procedures.			2

OCCUPATIONAL
Learning to Learn
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Recognizing the new and practical approaches regarding the field of economics and finance				3
2	Adopting the philosophy of life-long learning					4

OCCUPATIONAL
Communication & Social
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Using Turkish efficiently in written and oral communication in accordance with the rules					4
2	Comprehending the effects of economic and financial phenomena on society.				3

OCCUPATIONAL
Occupational and/or Vocational
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Continuous improving of knowledge regarding the structure and characteristics of microeconomic variables				3
2	Understanding the relation among the concepts like growth, investment, inflation, interest rates, unemployment, exchange rate and international trade and interpretation of those.					4

WORKLOAD & ECTS CREDITS OF THE COURSE UNIT
Workload for Learning & Teaching Activities
Type of the Learning Activites	Learning Activities (# of week)	Duration (hours, h)	Workload (h)
Lecture & In-Class Activities	14	3	42
Preliminary & Further Study	14	2	28
Land Surveying	0	0	0
Group Work	0	0	0
Laboratory	0	0	0
Reading	14	1	14
Assignment (Homework)	0	0	0
Project Work	0	0	0
Seminar	0	0	0
Internship	0	0	0
Technical Visit	0	0	0
Web Based Learning	14	1	14
Implementation/Application/Practice	0	0	0
Practice at a workplace	0	0	0
Occupational Activity	0	0	0
Social Activity	0	0	0
Thesis Work	0	0	0
Field Study	0	0	0
Report Writing	1	20	20
Final Exam	1	2	2
Preparation for the Final Exam	4	4	16
Mid-Term Exam	4	4	16
Preparation for the Mid-Term Exam	0	0	0
Short Exam	0	0	0
Preparation for the Short Exam	0	0	0
TOTAL	66	0	152