Advanced Macroeconomics (ECON 360)

2022 Spring
Faculty of Arts and Social Sciences
6/7 ECTS (for students admitted in the 2013-14 Academic Year or following years)
Riccardo Franceschin,
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Formal lecture
Interactive,Communicative,Discussion based learning
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Economic growth, business cycles: real business cycles, Keynesian theories of business cycles, nominal rigidities; consumption: life-cycle and permanent income hypotheses, interest rates and savings; investment: cost of capital, the effects of uncertainty; government debt; unemployment; inflation and monetary policy.


The main objective is to teach intertemporal optimization and apply it to certain macroeconomic issues such as unemployment, inflation, fiscal and monetary policies, and their effects on the macroeconomy.


  • On completion of the module, students should be able to a) demonstrate an understanding of specific issues which are important in advanced macroeconomics, b) develop an understanding of advanced macroeconomic theories and methods, c) apply modern macroeconomic models and methods in order to critically assess economic policy issues, d) develop an appreciation of some important contemporary developments in macroeconomics that are relevant for policy analysis.


1. Understand the world, their country, their society, as well as themselves and have awareness of ethical problems, social rights, values and responsibility to the self and to others. 5

2. Understand different disciplines from natural and social sciences to mathematics and art, and develop interdisciplinary approaches in thinking and practice. 4

3. Think critically, follow innovations and developments in science and technology, demonstrate personal and organizational entrepreneurship and engage in life-long learning in various subjects; have the ability to continue to educate him/herself. 3

4. Communicate effectively in Turkish and English by oral, written, graphical and technological means. 4

5. Take individual and team responsibility, function effectively and respectively as an individual and a member or a leader of a team; and have the skills to work effectively in multi-disciplinary teams. 1

1. Develop knowledge of theories, concepts, and research methods in humanities and social sciences. 5

2. Assess how global, national and regional developments affect society. 5

3. Know how to access and evaluate data from various sources of information. 5

1. Provide constructive analysis of economic phenomena at the national and international level, and interactions between the two. 5

2. Develop an understanding of organizations and institutions in the society as well as their influence on the economy. 4

3. Recognize how incentives shape the behavior of individuals and organizations. 5

4. Identify "economic" problems and propose alternative models and/or design and conduct research to provide viable solutions using theoretical tools and/or quantitative methods. 5

5. Communicate problems and solutions to managerial and policy decision-making units as well as to lay audiences. 4


  Percentage (%)
Final 45
Midterm 45
Assignment 10



J. Barro, Macroeconomics, The MIT Press 5th edition