Genetics and Bioengineering | |||||
Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 |
Course Code: | FNCE405 | ||||||||
Course Name: | Central Banking and Monetary Policy | ||||||||
Course Semester: | Fall | ||||||||
Course Credits: |
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Language of instruction: | EN | ||||||||
Course Requisites: | |||||||||
Does the Course Require Work Experience?: | No | ||||||||
Type of course: | Compulsory | ||||||||
Course Level: |
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Mode of Delivery: | Face to face | ||||||||
Course Coordinator : | Dr.Öğr.Üyesi MEHMET GÖKHAN GÖKTAN | ||||||||
Course Lecturer(s): |
Dr.Öğr.Üyesi MEHMET GÖKHAN GÖKTAN |
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Course Assistants: |
Course Objectives: | The objective of this course is to introduce the basics of the goals of central banks, the central bank’s balance sheet; monetary base; multiple deposit creation; the money multiplier; the interbank market (market for reserves); open market operations; discount policy; reserve requirements; monetary targeting; inflation targeting; Taylor rule; unsterilized and sterilized interventions; exchange rate targeting; transmission mechanisms of monetary policy; zero interest rate policy; quantitative easing policy; discussion on modern money creation and its effects on economic activity. |
Course Content: | The goals of central banks, the central bank’s balance sheet; monetary base; multiple deposit creation; the money multiplier; the interbank market (market for reserves); open market operations; discount policy; reserve requirements; monetary targeting; inflation targeting; Taylor rule; unsterilized and sterilized interventions; exchange rate targeting; transmission mechanisms of monetary policy; zero interest rate policy; quantitative easing policy; discussion on modern money creation and its effects on economic activity. |
The students who have succeeded in this course;
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Week | Subject | Related Preparation |
1) | • Describe the course • Quick Recap: Define Money in economic sense and Explain the Functions of Money • Quick Recap: Recognize Money and the monetary aggregates • Quick Recap: Define The time value of money and the present value concept • Quick Recap: Recognize the Bond Market • Syllabus. • Explain the Meaning of Money • Explain Medium of Exchange as function money. • Explain Unit of Account as a Function of Money. • Explain Store of Value as a Function of Money. • Discuss the ways how to measure Interest Rates. • Discuss Present Value. • Discuss Yield to Maturity. | none |
2) | • Quick Recap: Recognize the General Principles of Banking • Explain the Price Stability Goal and the Nominal Anchor • State the Other Goals of Monetary Policy • Discussion: Should the Price Stability Be the Primary Goal of Monetary Policy? • Explain the Structure and Independence of the Central Banks in accordance with the ethical and political considerations throughout the world. • Analyze FED • Analyze European Central Bank • Analyze Bank of Canada • Analyze Bank of Japan • Analyze Central Bank of Republic of Turkey • Analyze the Trend Toward Greater Independence | Read, in Mishkin, Chapters 3&4&5 on pages 95-161 Read, in Mishkin, Chapters 9&14 on pages 232-260 and 360-385. |
3) | • Define the Players in the Money Supply • Explain the CB's Balance Sheet • Illustrate the control of the Monetary Base • Explain the Multiple Deposit Creation • State and discuss the factors that determine the Money Supply • Analyze the derivation of Money Multiplier • Identify Four Players in the Money Supply Process • Analyze The Fed’s Balance Sheet • Discuss Control of the Monetary Base • Discuss Open Market Operations • Recognize Discount Loans (Liqudity Window) Policy • Justify Multiple Deposit Creation | Read, in Mishkin, chapter 15 on pages 386-410. Review Lecture Notes. |
Course Notes / Textbooks: | The Economics of Money, Banking and Financial Markets Frederick S. Mishkin, 11th ed., (Global Edition) 2016 ISBN-10: 1-29-209418-4 • ISBN-13: 978-1-292-09418-2 |
References: | The Economics of Money, Banking and Financial Markets Frederick S. Mishkin, 11th ed., (Global Edition) 2016 ISBN-10: 1-29-209418-4 • ISBN-13: 978-1-292-09418-2 |
Learning Outcomes | 1 |
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Program Outcomes | ||||||||||
1) Sufficient knowledge in mathematics, science and engineering related to their branches; and the ability to apply theoretical and practical knowledge in these areas to model and solve engineering problems. | ||||||||||
2) The ability to identify, formulate, and solve complex engineering problems; selecting and applying appropriate analysis and modeling methods for this purpose. | ||||||||||
3) The ability to design a complex system, process, device or product under realistic constraints and conditions to meet specific requirements; the ability to apply modern design methods for this purpose. (Realistic constraints and conditions include such issues as economy, environmental issues, sustainability, manufacturability, ethics, health, safety, social and political issues, according to the nature of design.) | ||||||||||
4) Ability to develop, select and use modern techniques and tools necessary for engineering applications; ability to use information technologies effectively. | ||||||||||
5) Ability to design experiments, conduct experiments, collect data, analyze and interpret results to examine engineering problems or discipline-specific research topics. | ||||||||||
6) The ability to work effectively in disciplinary and multidisciplinary teams; individual work skill. | ||||||||||
7) Effective communication skills in Turkish oral and written communication; at least one foreign language knowledge; ability to write effective reports and understand written reports, to prepare design and production reports, to make effective presentations, to give and receive clear and understandable instructions. | ||||||||||
8) Awareness of the need for lifelong learning; access to knowledge, ability to follow developments in science and technology, and constant self-renewal. | ||||||||||
9) Conform to ethical principles, and standards of professional and ethical responsibility; be informed about the standards used in engineering applications. | ||||||||||
10) Awareness of applications in business, such as project management, risk management and change management; awareness of entrepreneurship, and innovation; information about sustainable development. | ||||||||||
11) Information about the universal and social health, environmental and safety effects of engineering applications and the ways in which contemporary problems are reflected in the engineering field; awareness of the legal consequences of engineering solutions. |
No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
Program Outcomes | Level of Contribution | |
1) | Sufficient knowledge in mathematics, science and engineering related to their branches; and the ability to apply theoretical and practical knowledge in these areas to model and solve engineering problems. | |
2) | The ability to identify, formulate, and solve complex engineering problems; selecting and applying appropriate analysis and modeling methods for this purpose. | |
3) | The ability to design a complex system, process, device or product under realistic constraints and conditions to meet specific requirements; the ability to apply modern design methods for this purpose. (Realistic constraints and conditions include such issues as economy, environmental issues, sustainability, manufacturability, ethics, health, safety, social and political issues, according to the nature of design.) | |
4) | Ability to develop, select and use modern techniques and tools necessary for engineering applications; ability to use information technologies effectively. | |
5) | Ability to design experiments, conduct experiments, collect data, analyze and interpret results to examine engineering problems or discipline-specific research topics. | |
6) | The ability to work effectively in disciplinary and multidisciplinary teams; individual work skill. | |
7) | Effective communication skills in Turkish oral and written communication; at least one foreign language knowledge; ability to write effective reports and understand written reports, to prepare design and production reports, to make effective presentations, to give and receive clear and understandable instructions. | |
8) | Awareness of the need for lifelong learning; access to knowledge, ability to follow developments in science and technology, and constant self-renewal. | |
9) | Conform to ethical principles, and standards of professional and ethical responsibility; be informed about the standards used in engineering applications. | |
10) | Awareness of applications in business, such as project management, risk management and change management; awareness of entrepreneurship, and innovation; information about sustainable development. | |
11) | Information about the universal and social health, environmental and safety effects of engineering applications and the ways in which contemporary problems are reflected in the engineering field; awareness of the legal consequences of engineering solutions. |
Field Study | |
Lesson | |
Reading | |
Homework |
Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing) | |
Oral Examination | |
Individual Project | |
Group project |
Semester Requirements | Number of Activities | Level of Contribution |
Midterms | 1 | % 40 |
Final | 1 | % 60 |
total | % 100 | |
PERCENTAGE OF SEMESTER WORK | % 40 | |
PERCENTAGE OF FINAL WORK | % 60 | |
total | % 100 |
Activities | Number of Activities | Workload |
Course Hours | 16 | 48 |
Study Hours Out of Class | 16 | 52 |
Project | 1 | 12 |
Homework Assignments | 4 | 12 |
Quizzes | 3 | 6 |
Midterms | 1 | 15 |
Final | 1 | 22 |
Total Workload | 167 |