Information Package / Course Catalogue
Monetary Economy
Course Code: ECN511
Course Type: Area Elective
Couse Group: Second Cycle (Master's Degree)
Education Language: Turkish
Work Placement: N/A
Theory: 3
Prt.: 0
Credit: 3
Lab: 0
ECTS: 5
Objectives of the Course

It is aimed that the student will analyze the future of the international monetary system, taking into account the developments in monetary policy strategies in developed, emerging and transition economies and financial crises in line with the knowledge of monetary theory and policy acquired at the undergraduate level.

Course Content

Starting with the determination of the interest rate and the exchange rate, and giving information on the transmission channels, central bank independence and monetary policy regimes will be examined, and in this direction, firstly the applications regarding the monetary policy strategies in developed economies and then in emerging and transition economies will be discussed. The period will come to an end with the frequent financial crises and the effects of this on the future of the international monetary system.

Name of Lecturer(s)
Learning Outcomes
1.Learn basic information about how monetary economy works.
2.Can distinguish monetary policy strategies in terms of developed, emerging and transition economies.
3.Interpret the policies of Central Banks.
4.Follows the current developments in monetary economy.
5.Analyze financial crises and the future of the international monetary system within the framework of monetary economy.
Recommended or Required Reading
1.Fatih ÖZATAY – Parasal İktisat: Kuram ve Politika, Efil Yayınevi: Ankara.
2.Frederic S. MISHKIN – Para Politikası Stratejisi, Efil Yayınevi: Ankara
3.E. BULUT ve B. DEMİREL – Uluslararası Parasal İktisat, Pelikan Yayınları
4.Bora SÜSLÜ ve Özgür BALMUMCU - Modern Para Teorisi ve Politikası, Efil Yayınevi.
Weekly Detailed Course Contents
Week 1 - Theoretical
Theoretical Fundamentals of Money: What is Money?
Week 2 - Theoretical
An Overview of the Financial System and the International Financial System
Week 3 - Theoretical
Theories of the Demand for Money Before and After Keynes
Week 4 - Theoretical
Money Supply and the Money Creation Process of the Central Bank
Week 5 - Theoretical
Interest Theories
Week 6 - Theoretical
Determination of Interest Rate
Week 7 - Theoretical
Determination of Exchange Rate
Week 8 - Theoretical
Monetary Transfer Channels
Week 9 - Intermediate Exam
Midterm Examination
Week 10 - Theoretical
New Keynesian Economics and Optimal Monetary Policy
Week 11 - Theoretical
Fundamentals of Monetary Policy Implementation and Central Bank Independence
Week 12 - Theoretical
Monetary Policy Practices in Ensuring Price Stability
Week 13 - Theoretical
Regimes Based on Money and Exchange Rates in Open Economies
Week 14 - Theoretical
Monetary Policy Strategies in Emerging and Transition Economies
Week 15 - Theoretical
What Have We Learned About Monetary Policy?
Week 16 - Final Exam
Final Examination
Assessment Methods and Criteria
Type of AssessmentCountPercent
Midterm Examination1%30
Final Examination1%70
Workload Calculation
ActivitiesCountPreparationTimeTotal Work Load (hours)
Lecture - Theory140342
Individual Work140228
Midterm Examination123225
Final Examination128230
TOTAL WORKLOAD (hours)125
Contribution of Learning Outcomes to Programme Outcomes
PÇ-1
PÇ-2
PÇ-3
PÇ-4
PÇ-5
PÇ-6
PÇ-7
PÇ-8
PÇ-9
PÇ-10
PÇ-11
PÇ-12
PÇ-13
PÇ-14
PÇ-15
OÇ-1
3
4
5
3
4
2
OÇ-2
2
5
4
2
3
2
OÇ-3
2
4
5
2
3
2
OÇ-4
3
4
4
3
2
2
OÇ-5
2
3
3
2
2
2
Adnan Menderes University - Information Package / Course Catalogue
2026