Tourism and Hotel Management (English)
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

General course introduction information

Course Code:

FNCE405

Course Name:

Central Banking and Monetary Policy

Course Semester:

Spring

Course Credits:

Theoretical	Practical	Credit	ECTS
3	0	3	6

Language of instruction:

Course Requisites:

Does the Course Require Work Experience?:

Type of course:

Faculty Elective

Course Level:

Bachelor

TR-NQF-HE:6. Master`s Degree

QF-EHEA:First Cycle

EQF-LLL:6. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator :

Dr.Öğr.Üyesi MEHMET GÖKHAN GÖKTAN

Course Lecturer(s):

Dr.Öğr.Üyesi MEHMET GÖKHAN GÖKTAN

Course Assistants:

Course Objective and Content

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.

Learning Outcomes

The students who have succeeded in this course;

Learning Outcomes

1 - Knowledge
Theoretical - Conceptual
1) • Provide institutional features of central banks
2) • Recognize basic tools and strategies of monetary policy.
3) • Discuss and analyze current applications globally regarding key issues identified
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
1) • Identify transmission mechanisms of monetary policy decisions
Competence to Work Independently and Take Responsibility

Lesson Plan

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.

Sources

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

Course-Program Learning Outcome Relationship

Learning Outcomes	1	2	4	3
Program Outcomes
1) Learning the facts, concepts and principles related to tourism and hotel management
2) Having a theoretical and practical knowledge at the basic level related to the field
3) To be able to make analytical evaluations for tourism and travel sector
4) Learning the basic laws and regulations and professional standarts that apply regarding the tourism sector in Turkey and physical environment associated with hotel management space, tools, and use acquainted with the technology, applying the ethical values, protecting the natural environment
5) To be able to work efficiently in the tourism sector
6) Learning the characteristics of the major tourist destinations to apply this knowledge in the tourism sector for Turkey and worldwide
7) Organizing, coordinating and developing departments in accommodation organizations
8) To be able to define and develop sales techniques and income management practices applied in accommodation and food and beverage companies
9) Demonstrating the ability to apply professional working techniques in food and beverage establishments

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	Learning the facts, concepts and principles related to tourism and hotel management
2)	Having a theoretical and practical knowledge at the basic level related to the field
3)	To be able to make analytical evaluations for tourism and travel sector
4)	Learning the basic laws and regulations and professional standarts that apply regarding the tourism sector in Turkey and physical environment associated with hotel management space, tools, and use acquainted with the technology, applying the ethical values, protecting the natural environment
5)	To be able to work efficiently in the tourism sector
6)	Learning the characteristics of the major tourist destinations to apply this knowledge in the tourism sector for Turkey and worldwide
7)	Organizing, coordinating and developing departments in accommodation organizations
8)	To be able to define and develop sales techniques and income management practices applied in accommodation and food and beverage companies
9)	Demonstrating the ability to apply professional working techniques in food and beverage establishments

Learning Activity and Teaching Methods

Field Study
Lesson
Reading
Homework

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Oral Examination
Individual Project
Group project

Assessment & Grading

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

Workload and ECTS Credit Grading

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