ECON102 - Introduction to Economics II - 2014


This is an introductory level macroeconomics course that examines the short-run and long-run determination of key macroeconomic variables in both closed and open economies, primarily in the context of an AD/AS model. Topics covered include national income, theory of income determination, money and banking, fiscal policy, monetary policy, and international trade. The course aims to develop a general framework to analyse important policy questions and provide a sound understanding of macroeconomic aggregates and macroeconomic and financial linkages between economies. More specifically, the course aims to provide students with a solid economic grounding in understanding the mechanisms underpinning the macroeconomy.

There are two main objectives of this course. Firstly, to provide knowledge of the core theoretical models used in macroeconomics, for both closed and open economies, and to use them to enhance understanding of real-world macroeconomic experiences (especially involving macroeconomic policy). Secondly, to give students a solid grasp of macroeconomic analysis at the introductory level using both graphical and algebraic techniques. Throughout the course emphasis is placed on developing the skills needed to critically evaluate explanations of economic outcomes in this framework and policy success on both a theoretical and empirical basis.

On completion of this course the student will be able to understand theoretical models which are used to explain the behaviour of the aggregate economy in the short and long run and will have gained the ability to use these models to answer questions about the impact of shocks and of macroeconomic policy on a small open economy.


  • 3 credits, Department of Business Administration (İşletme Bölümü), 2nd Semester, must course.

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