Economics

Curriculum of Master's Degree Program (With Thesis):

• The minimum total number of credits required for a Master's Degree (With Thesis): 21, ECTS: 63 + 8 + 60  
• Number of must courses to be taken: 3 Courses  
• Number of elective courses to be taken: 4 Courses 

Curriculum of Master's Degree Program (Without Thesis):

• The total number of credits required for a Master's Degree (Without Thesis): 30, ECTS: 90  
• Number of elective courses to be taken: 3 Courses
• Number of must courses to be taken: 7 Courses

ELECTIVE COURSES

Maximum TWO courses, which are considered appropriate by the advisors, may be taken as elective courses among the courses of the Business Administration and International Relations Graduate programs.

COURSES AND COURSE CONTENTS  

COMPULSORY COURSES

İKT 511 Microeconomics I 
Preferences and choice. Consumer's choice. Classical demand theory. Total demand. Production. Choice in uncertainty. General equilibrium. Equilibrium and basic characteristics of welfare. Positive theory of equilibrium. Fundamentals of competitive equilibrium.  

İKT 531 Macroeconomics I
Traditional Keynesian models, total demand and supply dynamics. Open economy. Rational expectations.   Neo-Keynesian models. Real cyclical movements.

İKT 555 Research Methods
The objective of this course is to teach the students, who write thesis or projects at the academy, or who intend to conduct research outside the school, the fundamental research methods. The scope of the course generally covers the data set analysis and interpretation, hypothesis testing methods, basic theoretical topics for econometric analysis, econometric analysis methods and applications. The course will also encompass the teaching of matters of ethics in academic research.

ELECTIVE COURSES

İKT 512 Microeconomics II
Game theory: Basic concepts in non-cooperative (procedural) games, simultaneous games, dynamic games.   Market distortions: Exogeneity and public goods, market powers.   Information and incentive economics: Contrary choices (signaling and separation models) and moral hazard models, mechanism design.  

İKT 513 Microeconomics of Competitive Power
Basic elements that determine national and regional competitive power. Addressing and deliberation of competitive power within the framework of companies, clusters, sub-regions, countries and country groups. Successful and unsuccessful case studies on the sources of level of efficiency country-wide or any individual region in the developed and developing countries. Analysis of public policies, company strategies, clustering approaches, level of convenience of business and investment environment, which are directly related to the competitive power.

İKT 514 Industrial Organization
Applied studies in industrial organization: Static analysis (theory, estimation): Demand systems, game theoretical concepts of cost functions and equilibrium and applications.  Dynamic analysis (theory, calculation, estimation): Single agent problems, dynamic games and applications.  

İKT 515 Health Economics
Health capital. Global health. Health insurance. Productivity of medical expenditures. Healthcare service markets.

İKT 516 Experimental Economics
Historical origin of experimental approaches in economics. Design and testing of hypotheses. Theoretical and experimental analysis of individual decisions. Comparison of theoretical and experimental forecasts in game theory. Experimental analysis of social behaviors, partition, equity and reciprocity. Public goods and experimental results in coordination problems. Field tests. Programming of tests in the computer environment and laboratory applications.

İKT 517 Behavioral Economics
Development of behavioral economics. Fundamental concepts. Relations with standard economic model and method. Risk and decision-making in uncertainty. Decision-making in time: Reduced benefit model and alternative choice models. Behavioral game theory. Equity and social preferences. Behavioral finance.  

İKT 518 Sustainable Development
The concept of sustainable development, and the development and main principles of the same. Economic theories on efficiency and equity. Ecological systems and economic processes. Management and utilization of natural resources and sustainability. National and global environmental policies and sustainability. Climate change and sustainable development. Current issues in sustainable development  

İKT 519 Energy Economics
Energy and economy. Market structures of traditional and alternative energy resources. Inter-period production and consumption theory and nuclear energy. Energy and finance. Energy policies and regulations. Energy, environment and sustainable development: Climate change, energy efficiency and renewable energy. Multicultural energy markets and management. Turkish energy market and policy.

İKT 532 Macroeconomics II
Economic growth: Solow and Swan model, endogenous technology models, continuous generations-Diamond model-, Samuelson OLG (monetary) model and Ramsey model. Monetary policy. Fiscal policy. Consumption: Standard consumption problem (intertemporal consumption choice), recurring revenue hypothesis, asset pricing, capital asset pricing model based on consumption and equity capital premium puzzle. Investment: Neo-Classical investment theory, linear and convex cost analysis, Tobin's q. Average Q and marginal q. Unemployment: Job seeking and match-based unemployment model.

İKT 533 Monetary Economy
Money demand: Money in benefit function, shopping time models, cash money models. Monetary demand. Inflation, interest and exchange rate. Transfer channels. Independence of the central bank. Budget financing and money: debt dynamics, unpleasant monetarist arithmetic, fiscal dominance. Monetary policy regimes: monetary control, exchange rate regimes, inflation targeting, financial stability and monetary policy. Monetary policy instruments. Financial crises.  

İKT 551 Numerical Methods
Probability. Random variables and their distribution. Expectation. Estimation. Probability distribution of estimators. Hypothesis test. Matrices. Geometry of matrices. Solution of linear equation systems. Determinant, eigen value, eigen vector.

İKT 552 Econometric Analysis
Simple linear regression analysis. Smallest squares method. Generalized smallest squares method. Autocorrelation. Autocorrelation. Multiple regression. Estimation with instrumental variables.

İKT 553 Applied Econometrics I (Time-Series Analysis)
ARMA models. Stationary and Wold notation. Data analysis with frequency methods, Dynamic stochastic general equilibrium models: Solutions and covergence. Vector auto-regression: Parameter determination, shock analyses, Granger causality. Trends and unit root: Co-integration and error correction model. GMM and simulation estimators. Probability methods: Kalman filter and estimation of DSGE models with the highest probability. Calibration. Bayesian methods (vector auto-regression and DSGE models).  

İKT 554 Applied Econometrics II (Microeconometrics)
Panel data analysis. Maximum likelihood method. Method of moments. Probit, logit, Tobit models. Sampling choice. Average treatment effect. Count data models. Duration analysis.  

İKT 558 Advanced Artificial Intelligence for Economics and Finance
In this course, advanced artificial intelligence and machine learning methods widely used in economics and finance will be discussed. Applied topics such as the analysis of macroeconomic variables with big data, forecasting prices in financial markets; identifying cooperative financial instruments with big data methods, identifying subgroups in economic networks, identifying fraudulent players in tenders and financial markets will be examined using real data sets. Applications will be developed with computer programming languages. In the framework of the course, methods such as clustering, regression tree, support vector machines, neural networks / deep learning, Bayesian networks and clique detection will be applied to economic and financial problems with real data sets.

İKT 561 Mathematics for Economists
Static optimization: Lagrange, Kuhn-Tucker, closed function and envelope theorems. Introduction to real analysis: Sets, metric spaces, functions, continuity, compactness, convexity. Fixed point theorems. Dynamic optimization: Dynamic programming, change analysis, optimal control theory.  

İKT 570 History of Economic Thoughts  
Introduction of basic schools of economic thoughts. Classical economic analysis: Adam Smith, David Ricardo, John Stuart Mill. Marxist economic analysis. Neo-classical economic analysis. Keynesian and post-Keynesian economic analysis.  

İKT 581 Selected Topics in Microeconomics
The scope of this course covers topics from various subsidiary fields of microeconomics. The topics of the course will focus on the applications of the theory of microeconomics. Such fields as general equilibrium, game theory, contract theory, asymmetric information and network theory will be covered for the analysis of the applied research questions in the field of microeconomics.  

İKT 582 Selected Topics in Macroeconomics
The scope of this course covers topics from various subsidiary fields of macroeconomics. The topics of the course will focus on the applications of the theory of macroeconomics. Such fields as dynamic stochastic general equilibrium, game theory, optimal control, asymmetric information and modelling with heterogeneous agents will be covered for the analysis of the applied research questions in the field of macroeconomics.  

İKT 590 Seminar
Presentations by the faculty members of the department or non-member lecturers.  

İKT 591 Research Seminar  
Seminars by the faculty members of the department or non-member lecturers about research and writing techniques with a view to improve the research capacities and capabilities of students, which are to be attended compulsorily. 

Curriculum of Doctoral Program:

• The minimum total number of credits required for a Doctoral Degree: 21, ECTS: 63 + 8 + 170 = 241

• Number of must courses to be taken: 3 Courses  
• Number of elective courses to be taken: 4 Courses 

ELECTIVE COURSES

In addition, the courses offered in other graduate programs within the Graduate School of Economics and Social Sciences can be taken upon approval of the graduate advisor.

COURSES AND COURSE CONTENTS

COMPULSORY COURSES

İKT 601 Microeconomics I

General equilibrium: existence of solution, optimality condition, stability, continuity. The center of exchange economy. Major economies and convergence theorem. Social choice, economic design, and matching issues.

İKT 603 Macroeconomics I

Neo-Keynesian models, real business cycle models. Rational expectations models and Neoclassical growth models.

İKT 655 Research Methods

The aim of this course is to teach basic research methods to students who will write a thesis or project in the academy and who will do research outside the school. Thus, it is aimed that students can use the research methods applied in economics in a research question. The course generally covers data set analysis and its interpretation, hypothesis testing methods, basic theoretical issues for econometric analysis, econometric analysis methods and applications. Within the framework of the course, ethical issues in academic research will also be taught.

İKT 690 Seminar

Presentations by the faculty members of the department or non-member lecturers.

ELECTIVE COURSES

İKT 513 Microeconomics of Competitive Power
Basic elements that determine national and regional competitive power. Addressing and deliberation of competitive power within the framework of companies, clusters, sub-regions, countries and country groups. Successful and unsuccessful case studies on the sources of level of efficiency country-wide or any individual region in the developed and developing countries. Analysis of public policies, company strategies, clustering approaches, level of convenience of business and investment environment, which are directly related to the competitive power.

İKT 514 Industrial Organization
Applied studies in industrial organization: Static analysis (theory, estimation): Demand systems, game theoretical concepts of cost functions and equilibrium and applications.  Dynamic analysis (theory, calculation, estimation): Single agent problems, dynamic games and applications.  

İKT 515 Health Economics
Health capital. Global health. Health insurance. Productivity of medical expenditures. Healthcare service markets.

İKT 516 Experimental Economics
Historical origin of experimental approaches in economics. Design and testing of hypotheses. Theoretical and experimental analysis of individual decisions. Comparison of theoretical and experimental forecasts in game theory. Experimental analysis of social behaviors, partition, equity and reciprocity. Public goods and experimental results in coordination problems. Field tests. Programming of tests in the computer environment and laboratory applications.

İKT 517 Behavioral Economics
Development of behavioral economics. Fundamental concepts. Relations with standard economic model and method. Risk and decision-making in uncertainty. Decision-making in time: Reduced benefit model and alternative choice models. Behavioral game theory. Equity and social preferences. Behavioral finance.  

İKT 518 Sustainable Development
The concept of sustainable development, and the development and main principles of the same. Economic theories on efficiency and equity. Ecological systems and economic processes. Management and utilization of natural resources and sustainability. National and global environmental policies and sustainability. Climate change and sustainable development. Current issues in sustainable development  

İKT 519 Energy Economics
Energy and economy. Market structures of traditional and alternative energy resources. Inter-period production and consumption theory and nuclear energy. Energy and finance. Energy policies and regulations. Energy, environment and sustainable development: Climate change, energy efficiency and renewable energy. Multicultural energy markets and management. Turkish energy market and policy.

İKT 533 Monetary Economy
Money demand: Money in benefit function, shopping time models, cash money models. Monetary demand. Inflation, interest and exchange rate. Transfer channels. Independence of the central bank. Budget financing and money: debt dynamics, unpleasant monetarist arithmetic, fiscal dominance. Monetary policy regimes: monetary control, exchange rate regimes, inflation targeting, financial stability and monetary policy. Monetary policy instruments. Financial crises.  

İKT 551 Numerical Methods
Probability. Random variables and their distribution. Expectation. Estimation. Probability distribution of estimators. Hypothesis test. Matrices. Geometry of matrices. Solution of linear equation systems. Determinant, eigen value, eigen vector.

İKT 552 Econometric Analysis
Simple linear regression analysis. Smallest squares method. Generalized smallest squares method. Autocorrelation. Autocorrelation. Multiple regression. Estimation with instrumental variables.

İKT 553 Applied Econometrics I (Time-Series Analysis)
ARMA models. Stationary and Wold notation. Data analysis with frequency methods, Dynamic stochastic general equilibrium models: Solutions and convergence. Vector auto-regression: Parameter determination, shock analyses, Granger causality. Trends and unit root: Co-integration and error correction model. GMM and simulation estimators. Probability methods: Kalman filter and estimation of DSGE models with the highest probability. Calibration. Bayesian methods (vector auto-regression and DSGE models).  

İKT 554 Applied Econometrics II (Microeconometrics)
Panel data analysis. Maximum likelihood method. Method of moments. Probit, logit, Tobit models. Sampling choice. Average treatment effect. Count data models. Duration analysis.  

İKT 558 Advanced Artificial Intelligence for Economics and Finance   

In this course, advanced artificial intelligence and machine learning methods widely used in economics and finance will be discussed. Applied topics such as the analysis of macroeconomic variables with big data, forecasting prices in financial markets; identifying cooperative financial instruments with big data methods, identifying subgroups in economic networks, identifying fraudulent players in tenders and financial markets will be examined using real data sets. Applications will be developed with computer programming languages. In the framework of the course, methods such as clustering, regression tree, support vector machines, neural networks / deep learning, Bayesian networks and clique detection will be applied to economic and financial problems with real data sets.

İKT 561 Mathematics for Economists
Static optimization: Lagrange, Kuhn-Tucker, closed function and envelope theorems. Introduction to real analysis: Sets, metric spaces, functions, continuity, compactness, convexity. Fixed point theorems. Dynamic optimization: Dynamic programming, change analysis, optimal control theory.  

İKT 570 History of Economic Thoughts  
Introduction of basic schools of economic thoughts. Classical economic analysis: Adam Smith, David Ricardo, John Stuart Mill. Marxist economic analysis. Neo-classical economic analysis. Keynesian and post-Keynesian economic analysis.  

İKT 581 Selected Topics in Microeconomics
The scope of this course covers topics from various subsidiary fields of microeconomics. The topics of the course will focus on the applications of the theory of microeconomics. Such fields as general equilibrium, game theory, contract theory, asymmetric information and network theory will be covered for the analysis of the applied research questions in the field of microeconomics.  

İKT 582 Selected Topics in Macroeconomics
The scope of this course covers topics from various subsidiary fields of macroeconomics. The topics of the course will focus on the applications of the theory of macroeconomics. Such fields as dynamic stochastic general equilibrium, game theory, optimal control, asymmetric information and modelling with heterogeneous agents will be covered for the analysis of the applied research questions in the field of macroeconomics.