Course Unit Code | Course Unit Title | Type of Course Unit | Year of Study | Semester | Number of ECTS Credits | 140400108111 | MACROECONOMIC MODELS | Elective | 4 | 8 | 4 |
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Level of Course Unit |
First Cycle |
Objectives of the Course |
To be able to explain econometric methods for modeling economic problems and making policy recommendations based on economic theories. |
Name of Lecturer(s) |
Dr. Gürkan BOZMA |
Learning Outcomes |
1 | To be able to evaluate the problems related to macroeconomic modeling and econometric modeling. | 2 | To be able to explain unit root analysis, non-stationary series, cointegration and structural change. | 3 | To be able to do theoretical and econometric modeling of non-stationary macroeconomic time series. | 4 | To be able to apply the relevant macro modeling method to various fields of economics. | 5 | To be able to analyze the findings obtained as a result of econometric modeling in the predictions of economic theory. | 6 | To be able to apply scientific research rules and ethical rules on an academic study. |
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Mode of Delivery |
Daytime Class |
Prerequisites and co-requisities |
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Recommended Optional Programme Components |
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Course Contents |
The course focuses on macroeconomic modeling and econometrics of macroeconomic modeling at the undergraduate level. Within this framework, non-stationary macroeconomic time series variables
Emphasis is placed on the concept of econometric modeling. In this direction, the main areas of the course can be identified as problems related to macroeconomic modeling and econometric modeling, unit root analysis, non-stationary series, cointegration and structural change. The theoretical and empirical econometric modeling of non-stationary macroeconomic time series will enable those taking this course to apply the related method to various fields of economics. |
Weekly Detailed Course Contents |
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1 | Basic Concepts: Model, Modeling, Economic Model, Mathematical Model, Econometric Model, Economic Theory and empiricism, Modeling Requirement | | | 2 | Exercise: Fundamental Keynesian Model for the Small Open Economy | | | 3 | Econometric Modeling (Estimation, Forecasting and Simulation Methods), univariate, single equation and multi equilibrium (system) modeling and estimation | | | 4 | Time Series, Cross Section and Panel Data Analysis | | | 5 | Time Series Econometrics and Stationarity Analysis: Theory and Practice | | | 6 | Data Analysis, Stationarity of the series, spurious regression, unit root | | | 7 | Long-run, Economic Theory and Cointegration Analysis: Theory and Practice | | | 8 | Midtrem Week | | | 9 | Midtrem Week | | | 10 | Cointegration Analysis: Single equation and system estimation methods | | | 11 | Using Econometric models at the economic policy forecasts: Lucas Critique and structural change | | | 12 | Modeling Applications: Money Demand | | | 13 | Modeling Applications: Supply and Demand Functions of Export | | | 14 | Modeling Applications: Phillips Curve | | |
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Recommended or Required Reading |
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Planned Learning Activities and Teaching Methods |
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Assessment Methods and Criteria | |
Midterm Examination | 1 | 100 | SUM | 100 | |
Final Examination | 1 | 100 | SUM | 100 | Term (or Year) Learning Activities | 40 | End Of Term (or Year) Learning Activities | 60 | SUM | 100 |
| Language of Instruction | | Work Placement(s) | |
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Workload Calculation |
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Midterm Examination | 1 | 1 | 1 |
Final Examination | 1 | 1 | 1 |
Attending Lectures | 12 | 3 | 36 |
Practice | 4 | 15 | 60 |
Case Study | 2 | 2 | 4 |
Project Preparation | 2 | 2 | 4 |
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Contribution of Learning Outcomes to Programme Outcomes |
LO1 | 3 | 1 | 4 | | | | | | | | | | | | | | | LO2 | 2 | 1 | 3 | 3 | 2 | 3 | 3 | 4 | 4 | 3 | 4 | 4 | 3 | 4 | 4 | | 4 | LO3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 2 | 3 | 2 | 3 | 2 | 2 | 3 | 2 | LO4 | 2 | 3 | 1 | 1 | | 2 | 2 | 1 | 2 | 3 | 3 | 3 | 3 | 2 | 3 | 3 | 2 | LO5 | 1 | 3 | 3 | 3 | 2 | 3 | 2 | 1 | 3 | 2 | 1 | 2 | | 2 | 2 | | 1 | LO6 | 1 | 3 | 1 | 1 | 1 | 1 | 2 | | 2 | | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
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* Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High |
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Iğdır University, Iğdır / TURKEY • Tel (pbx): +90 476
226 13 14 • e-mail: info@igdir.edu.tr
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