Applied Economics and Finance Graduate Programs

Master’s Degree

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

  • The minimum total number of credits required for a Master's Degree (without thesis): 30, ECTS: 90
  • Number of must courses to be taken: 4 Courses  
  • Number of elective courses to be taken: 6 Courses

1. Year

Fall Semester
Course Code Course Name Credits ECTS
UEF 511 Microeconomics I 3 9
UEF 531 Macroeconomics I 3 9
UEF 555 Research Methods 3 9
  Elective Course 3 9
Spring Semester
Course Code Course Name Credits ECTS
UEF 562   Principles of Finance 3 9
  Elective Course 3 9
  Elective Course 3 9
  Elective Course 3 9
UEF 598 Term Project 0 0
Summer Semester
Course Code Course Name Credits ECTS
  Elective Course 3 9
  Elective Course 3 9

 

ELECTIVE COURSES

COURSE CODE

COURSE NAME

CREDITS

ECTS

İKT 513

Microeconomics of Competitive Power       

3

9

İKT 514

Industrial Organization

3

9

İKT 515

Health Economics

3

9

İKT 518

Sustainable Development

3

9

İKT 519

Energy Economics

3

9

İKT 533

Monetary Economy

3

9

İKT 551

Numerical Methods

3

9

İKT 552

Econometric Analysis

3

9

İKT 553

Applied Econometrics I (Time-Series Analysis)

3

9

İKT 554

Applied Econometrics II (Microeconometrics)

3

9

İKT 581

Selected Topics in Microeconomics

3

9

İKT 582

Selected Topics in Macroeconomics

3

9

İŞL 554

Financial Accounting Standards and Applications

3

9

İŞL 560

Money and Capital Market Applications

3

9

İŞL 561

Macroeconomic Overview of Turkish Economy

3

9

İŞL 562

Financial Analysis

3

9

İŞL 563

Risk Management and Derivative Instruments

3

9

İŞL 564

Investment and Securities Analysis

3

9

İŞL 565

Macroeconomics for Business Administrators

3

9

İŞL 566

Portfolio Analysis and Management

3

9

İŞL 568

Financial Markets and Institutions

3

9

İŞL 569

Current Issues in Finance

3

9

İŞL 571

Project Finance

3

9

The courses offered in other graduate programs within the Graduate School of Economics and Social Sciences can be taken depending on the approval of the advisor.

 

COURSES AND COURSE CONTENTS

COMPULSORY COURSES

UEF 511 Microeconomics

Introduction to consumer theory. Budget constraint. Utility concept and utility maximization problem. Intertemporal budget constraint and choice, present value, interest rate and inflation. Exchange, general equilibrium and efficiency. Uncertainty, expected value and expected utility, risk aversion. Introduction to producer theory, cost curves, profit maximization and cost minimization. Perfect competition and monopoly. Non-cooperative games (extensive and normal form games) and solution concepts. Repeated games. Cooperative games, applications (oligopoly, information economics, auction theory). Cooperative and non-cooperative bargaining.

UEF 531 Macroeconomics

Closed-economy Macro. Macroeconomic data. Money and Inflation. Unemployment. Economic Growth. Economic fluctuations and crisis. Aggregate demand. Aggregate Supply. Macroeconomic Policy: Monetary, fiscal. Money demand and supply. Open-economy Macro. Aggregate demand in open-economy. Foreign exchange market and determination of exchange rate. Current account and balance of payments. Monetary and fiscal policy in open-economy. Transfers and economic growth.

UEF 562 Principles of Finance

This course examines the area of finance, its objectives and practices from a brand-new perspective. Modern portfolio theory, pricing models of financial assets, new financial instruments, structured products, capital markets and basic properties, stock exchange, stock valuation, bond and valuation, primary and secondary markets, interest rate theory, risk and return concepts, option contracts , futures and forward contracts, economic and sector analysis, basic and technical analysis, options, portfolio selection, capital market theory, portfolio management.

UEF 555 Research Methods

The aim of this course is to teach basic research methods to students who write a thesis or project. 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.

 

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 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 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 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.  

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 560 Money and Capital Market Applications

Banking and capital market instruments and case studies regarding the functioning of markets; study and discussion of intermediary institutions, corporate investors and private pension funds, which will be attended and contributed market professionals.

İŞL 561 Macroeconomic Overview of Turkish Economy

Balance of international payments, consolidated budget balance, balance of the banking sector, balances of real sector (sector balances) and balances of the central bank, analysis of the mutual interaction mechanisms of balances, identification of the basic structural characteristics of Turkish economy, macroeconomic policy assessments.

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 563 Risk Management and Derivative Instruments

The concept and types of risk, measuring and assessment of risk, financial risk management and derivative markets, currency-interest ad index futures, forward and future pricing, future hedging and speculation, option, option valuing models (Black Sholes, binomial etc.), trading strategies, swap, new generation derivatives, case studies.

İŞL 564 Investment and Securities Analysis

Corporate and individual investments, money and capital market instruments and valuing, securities (stock) market, equity market indices, concepts of risk and return and measuring of the same, bond and stock valuing, efficiency of markets.

İŞL 565 Macroeconomics for Business Administrators

General principles ad fundamental concepts of macroeconomics, national income, fundamentals of economic growth, total demand, total supply, unemployment, impacts of economic policies on economic stability and growth, international monetary system and exchange rates, change in macroeconomic dynamics and impacts of the same on enterprises.

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 568 Financial Markets and Institutions

Capital markets, the place of banks within the financial system, banking, investment funds and mutual funds according to the types and functions of the same, securities and futures exchanges in Turkey, BASEL II new capital reconciliation and applications, BASEL II and Turkish banking system.

İŞL 569 Current Issues in Finance

Management of currency risk; measuring risk appetite in global markets; foreign exchange market operations; commodity market operations (gold-silver-oil); interest-parity relation; inter-market analysis; reserve diversifications of Central Banks and the impact of the same on prices; case studies.

İŞL 571 Project Finance

Characteristics and types of investment projects, Critical factors that affect investment decisions, Concept of project finance, How to develop an appropriate finance strategy, Potential financial institutions, ECAs-International financial institutions-Commercial Banks, Credit facility allocation criteria of financial institutions, Build-operate-transfer model, Turnkey project finance, Project evaluation methods.

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