Management

COURSE CONTENTS

MUST COURSES

İŞL 601 Asset Pricing Theory

The course focuses on the main theoretical foundations of finance, including investment decision making, utility theory, portfolio theory, equilibrium asset pricing, arbitrage asset pricing, the term structure of interest rates, option pricing theory, derivatives pricing, asset prices informational efficiency, asymmetric and incomplete information, agency theory, and performance measurement. The course emphasizes applications of mathematical and probabilistic tools/methods to provide a rigorous development of each topic.

İŞL 602 Advanced Empirical Finance

This course covers the challenges in the empirical analysis of a range of topics in asset pricing as well as corporate finance. The course will emphasize the practical implementation of financial econometric methods as well as the data which is core to empirical finance. Extraction of data, use of historical asset prices, company and market information as well as high-frequency data will be discussed in detail. 

İŞL 603 Corporate Finance Theory

The course covers a selection of important topics in corporate finance theory. It provides an in-depth literature background for students interested in Corporate Finance Theory and prepares students interested in conducting research related to Corporate Finance Theory. The course covers classic Corporate Finance papers and recent research questions, particularly financial contracting, incomplete contracts, control and corporate governance, financial intermediation, bankruptcy, and Dynamic Corporate Finance.

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 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.

İŞL 690 Seminar

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

ELECTIVE COURSES

İŞL 553 Management Accounting         

Financial accounting at enterprises, cost accounting, basic concepts of management accounting, cost-volume-profit relations, cost distribution, cost systems, cost and revenue review methods used for decision-making, standard costs and flexible budget applications, and management accounting in planning, audit and success assessment.

İŞL 554 Financial Accounting Standards and Applications

This course has been designed for the students, who seek a course in the field of financing-accounting at specialization level.   This is an advanced level course intended to provide the student with comprehensive knowledge about the fundamentals of Turkish Accounting System and Accounting Standards.   Studies will be conducted in respect of the development and applications of accounting and financial reporting in Turkey, Turkish Accounting Standards (TAS) and Turkish Financial Reporting Standards as well as the valuation criteria in accounting.   Each student, who completes the course, will have have gained extensive knowledge about Turkish Accounting Standards as well as the skills to read the financial statements prepared in conformity to such standards on account of the practical applications within the scope of the course.

İŞL 562 Financial Analysis

Financial analysis, financial planning, inventory and cash management, management of receivables, short-term financing, debt policy, profit policy, optimal capital composition, time value of money, investment budgeting, leverage and risk, dividend policy, fundamentals of international financial management.

İŞL 566 Portfolio Analysis and Management

Risk and return analysis of portfolios, optimal portfolio, portfolio management, portfolio creation models, management of pension assets and pension funds.

İŞL 570 Digital Finance

This course aims to introduce students to the ongoing digital revolution, explain how it transforms financial practices, and discuss how it can affect the financial world more in the future. The course will begin by explaining the digital ecosystem, especially digital technology, actors, and their regulations. Specifically, the course will cover block chain technology and other technological developments affecting financial applications. The course will cover applications in digital money, wallet, deposit, and loan in detail. Students will be asked to use some of the financial digital applications. The course also aims to discuss the possible problems of digital finance.

İŞL 563 Derivatives and Risk Management

A broad range of derivative products are examined with a primary focus on how to use these for the management of financial risks. The course introduces standard models of pricing forward, futures and options on diverse underlying assets. The course then explores hedging methods to conduct risk management for business operations, speculative trades, and issued financial instruments. After completing this course students will be familiar with derivatives valuation and their use in risk management.

İŞL 568 Financial Markets and Institutions

Overview and deeply investigation of financial markets and financial institutions, globalization of financial markets and institutions, determination of interest rate, Loanable Fund Theory, periodic structure of interest rate, central banks, US Central Bank System, structure of US Central Bank System, monetary policy instruments, various economic variables of monetary instruments effects on money supply, targeting interest rates against money supply, international monetary policies and strategies, definition of monetary 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 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

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

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 603 Macroeconomics I

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

SUİ 651 Globalization and Political Economy of Development

The aim of this course is to make an in-depth discussion on the political economy of Globalization and Development. In this context, the roles of rising powers in the transforming international system will be discussed. In the first part of the course, the differences between 'market' and 'market economy' will be discussed with reference to classical political economy theories; The rise of capitalism and the foundations of state-market relations will be discussed. Then, the relations between capitalism, development, democracy, and autocracy will be discussed with reference to the relevant theories. In the second part of the course, the focus will be on the “global south”; The development and democratization experiences of BRICS and near-BRICS countries will be evaluated. In the last part, Turkey's political economy will be analyzed comparatively.

BİL 541 Artificial Intelligence

Smart mediums. Search methods for problem solving. Informed and non-informed search methods. Discovery methods. Restriction replacement problems. Gameplay. Information and reasoning: First degree logic. Information notation. Learning. Selected topics: Artificial Neural Networks and genetic algorithms.

BİL 573 Data Mining

Data warehouse and online analytics. Time series analysis. Pre-processing of data. Analysis of data-mining tasks. Grouping. Association and rule deduction. Classification and estimation. Sequential analysis and data mining applications.        

MAT 505 Mathematics of Finance I

Discrete and continuous time models, benefit (theory), use risk terms, financial markets for many assets. Portfolio assessments, portfolio optimization, incompleteness of markets, limitations.

MAT 506 Mathematics of Finance II

Introduction to derivative products, analysis of some statistics and mathematical theories, product pricing with Black-Scholes model, evaluation of options for other investment products, interest derivative bonds.

MAT 533 Real Analysis I

Liminf, limsup and convergence properties of set sequences, algebra and sigma-algebra concepts, Borel algebra concept, measure concept, counting measure, Lebesgue measure, outside measure concept, Lebesgue exterior measure, measurable functions and their basic properties, integral of simple and positive functions, Fatou Lemma, Monotone Convergence Theorem, integrable functions, relationship between Lebesgue integral and Riemann integral, Lebesgue Convergence Theorem, Lp spaces and their applications.

MAT 534 Real Analysis II

Convergence of sequences of functions: uniform convergence, point convergence, convergence in measurement, Lp convergence, nearly convergence; Vitali Covering Theorem, oscillating functions, Stieltjes integral and its properties.