Department of Economics and Finance

Undergraduate Course Contents

First Semester

Turkish I: The objective of this course is to show the students characteristics and rules of Turkish Language through examples; make them achieve the habit and skill of showing their emotions, thoughts, plans, impressions, observations, and experiences accurately and efficiently in writing and verbally; develop their vocabulary with the help of written and verbal texts; teach them the rules of comprehending accurately the texts they read or programs they listen to; develop their language skills which form the basis of the communication between individuals and populace. Students will be taught how to use the written communication tools accurately and efficiently in this course. Various types of written statements will be examined through a critical point of view by doing exercises on understanding, telling, reading, and writing. Punctuation and spelling rules, which are basis of written statement, will be taught and accurate usage of these rules for efficient and strong expression will be provided.

Foreign Language I: The teaching methodology is based on input (reading & listening) to output (speaking & writing). By the end of the semester, students finish two main modules, which are listening and speaking. In the listening and note taking module, students learn how to listen and take notes effectively. In the speaking module, the focus is on equipping students with the necessary skills needed to give an academic presentation and to express themselves orally. This course aims at equipping students with skills related to two main aspects of Academic English, which are listening and note taking and academic speaking.

Principles of Atatürk and History of Revolution I: The course provides a general approach for analysis of the foundation of the Republic of Turkey under the leadership of Mustafa Kemal Atatürk. The course focuses on emphasizing military, political, sociocultural and economic developments. The course seeks to compare the sectorial reforms of the Ottoman State during the period of the decline of the Empire with the far-reaching, radical and revolutionary attempts made by Atatürk which paved the way for the establishment of modern and civilized institutions in Turkey in the second and third decades of the twentieth century. The course also attempts to study the internal and external factors affected the foreign policy as well as the process of Secularization and Democratization of Turkey in the Republican era. With special reference to the Principals of Atatürk the course will examine the philosophy of the foundation and existence of the republican regime as well as the democratic developments in secular Turkey during the twentieth century and in the era of extending globalization. This course provides general information of the events from the end of the 19. century until the end of the Turkish War of Independence and the signing of the Treaty of Lausanne in 1923.

Fundamentals of Law: To provide a basic understanding of law through a general introduction on the subject followed by specific lectures on various branches of law. The concept of law, rights, systems of law, the distinction between private and public law, various branches of law, sources of law, implementation of the law, courts and their competence, legal personality, natural and legal persons, capacity to act, basic concepts of property law and law of obligations.

Introduction to Economics I: Basic concepts of microeconomics and macroeconomics. İn microeconomic anlysis, consumer behaviour, basics of consumer and producer equilibrium, the theory of general equilibrium and income policies and in macroeconomic anallysis, definitions of main macroeconomic indicators, such as inflation, GNP and GDP , balance of payments, theory of national income and income distribution are anlysed.

Fundamentals of Business: Course focuses on the nature of the free enterprise system and its business organizations. Examines the role played by business in society, as well as its purpose and responsibilities; and introduces the practical operations that must exist if businesses are to create goods and services. Course aims to provide students with a broad overview of the main functions of management such as marketing, accounting, operations, production, institutionalization and international business activities in today’s global environment. This course provides general perspective on basic organizational operations, types and business subjects.

Economical & Financial Mathematics I: This course aims to cover the notion of function which is one of the fundamental concepts of Mathematics. Graphs, limits, derivatives related applications of functions will be covered. Also, functions, limit and continuity, derivative and applications, extreme values, and graphing will be examined during the course.

Second Semester

Turkish II: The course aims to show the characteristics and rules of the Turkish language with examples help students develop familiarity and skills for expressing their feelings, thoughts, plans, impressions, observations and experiences through written and spoken language correctly and effectively expand vocabulary through written and spoken texts develop reading and listening comprehension develop overall language skills, which are essential to interpersonal communication. Students will be taught how to use the written communication tools accurately and efficiently in this course. There will be exercises on understanding, telling, reading, and writing; types of speeches (panel, symposium, conference, etc.) will be introduced; the student will be equipped with information on using body language, accent and intonation, and presentation techniques.

Foreign Language II: The teaching methodology is based on input (reading & listening) to output (speaking & writing). By the end of the semester, students finish two main modules, which are reading and writing. In the reading module, students learn how to read effectively to determine relevant and required information. In the writing module, the focus is on equipping students with the necessary skills needed to write different academic essay styles. This course aims at equipping students with skills related to two main aspects of Academic English, which are reading and academic writing.

Principles of Atatürk and History of Revolution II: The course provides a general approach for analysis of the foundation of the Republic of Turkey under the leadership of Mustafa Kemal Atatürk. Emphasizing military, political, sociocultural and economic developments, the course seeks to compare the sectorial reforms of the Ottoman State during the period of the decline of the Empire with the far-reaching, radical and total revolutionary attempts made by Atatürk which paved the way for the establishment of modern and civilized institutions in Turkey in the second and third decades of the twentieth century. The course also attempts to study the internal and external factors affected the foreign policy as well as the process of Secularization and Democratization of Turkey in the Republican era. With special reference to the Principals of Atatürk the course will examine the philosophy of the foundation and existence of the republican regime as well as the democratic developments in secular Turkey during the twentieth century and in the era of extending globalization.

Introduction to Economics II: Basic concepts of microeconomics and macroeconomics. İn microeconomic anlysis, consumer behaviour, basics of consumer and producer equilibrium, the theory of general equilibrium and income policies and in macroeconomic anallysis, definitions of main macroeconomic indicators, such as inflation, GNP and GDP , balance of payments, theory of national income and income distribution are anlysed.

Organizational Communication: The purpose of this course is to use lectures to introduce students to theories and concepts that are useful in understanding organizations. The course takes the perspective of the practicing manager. The management of organizations is viewed as involving choices between different courses of action, which are constrained by those, which have already been made. Thus, the prime requirement of effective management is the ability to analyze the organization and then find ways to improve the way it works to increase organizational effectiveness. On a career level, the ability to analyze the situation that one is in, and thus the ability to respond appropriately to it is also a prerequisite for managerial success and the course should make students more “organization wise”.

Economical & Financial Mathematics II: Economic models, Equilibrium Analysis, Comparative-Equilibrium Analysis, Optimization, Optimization with Equality Constraints, Dynamic Analysis will be examined during the semester.

Third Semester

Microconomics I: This is an introductory microeconomics course. The aim of the course is to develop an understanding of elementary microeconomic analysis and its applications. By the end of the term, the student will have acquired a basic understanding of the main microeconomic topics, including analysis of the consumer, the firm, the economics of public sector and product markets. The material covered as part of this course will help students to organize their ideas about economics.

Statistics I: This is the first part of a basic statistics course for economics majors. The course is application oriented and introduces the fundamentals of statistics needed in the second part. Some major topics are descriptive statistics, graphical description of data, grouped and ungrouped data, measures of central tendency, dispersion and shape, probability, discrete and continuous random variables, discrete and continuous distributions, sampling distribution and point and interval estimation.

Commercial Law I: The main objective of this course is to develop solutions on disputes regarding Commercial Enterprises and Commercial transactions and to determine the rights and obligations of the Natural or the legal person that run the commercial enterprise, in a contractual relationship within the scope of the Turkish Commercial Code and other relevant legislation.

Public Finance: Public finance covers types of revenue as well as methods of acquisition and of expenditure in the provision of public services. The main issues of the course are public revenues, public expenses, budgets, finance policy and public debt.

Financial Accounting I: This course is designed as an introductory accounting course in which the aim is to initiate the students in the use and preparation of financial statements.As aspiring managers,the students need to recognize the need for accounting principles,procedures and the financial statements in companies' decision making process.In so doing, the topics covered include the basic principles and recording process to prepare useful financial statements.In the second half of the semester,selected topics will be discussed in detail.

Economic Sociology: The course is located at the interdisciplinary intersection of economics and sociology within the context of the rise of new economic sociology in the recent decade. The first part of the course critically reviews the legacy of classical social and economic thought that contributed to the formation of the discipline of economic sociology (Weber, Marx, Simmel, Veblen, Polanyi and Schumpeter). The second part of the course covers various topics in the field of 'new economic sociology', such as markets as social institutions, the meaning of consumption, social capital, the role of trust, networks, etc.

Fourth Semester

Microeconomics II: This course provides students with the fundamental framework used in microeconomics. Basic mathematical tools are introduced to solve problems related to consumer and producer theory. Topics included are demand, supply and equilibrium, consumer and producer behaviour, elasticities, production and cost, market structures.

Statistics II: The second part of the basic statistics course. Building on the fundamentals reviewed in the previous part, this course introduces statistical tools aiming to demonstrate their use in practical applications. Some major topics are hypothesis testing, regression analysis, correlation analysis, non-parametric tests, chi-square tests and analysis of variance. On the successful completion of this course, students should have the ability to suggest appropriate tools to analyze observed data and be able to interpret the computer output.

Financial Accounting II: The aim of this course is providing an establishment for relationship between conceptual framework and techniques, applications, methods by explaining the role of accounting system in terms of forming business strategies and its interaction with other business operations.

Public Finance II: The aim of the course is to explain the economic rationale of the public sector within the context of the budgetary sector of public policy. The subjects of the course are as follows: the major functions of public activities, budgeting, the institutional framework of the public sector in Turkey, types of public/social goods and their efficient provision, government behavior, public decision making, public expenditure, the composition of public expenditures, public revenue and taxation, tax principles, tax incidence, government debts.

History of Economic Thought: This course has been one of the main areas of economics because by using a historical perspective it explores how different schools of economic thought pass through various stages. In this course, by focusing on methodological and analytical questions and with the help of nonmainstream alternative approaches, evolution of economics throughout the history will be evaluated. First historical development process of the market system will be investigated by laying out a general framework examine dynamic relationship between the theories. Afterwards each school of economic thought will be analyzed in a chronological order.

Research Methods in Social Sciences: This course examines the basic aspects of the philosophy of science and the methods of social science research with a particular focus on political science and international relations. Topics to be covered include the paradigms of the social science: methodological traditions (mainly qualitative and quantitative methods) and research designs with various research tools and techniques. The first part of the course will be devoted to lectures and discussions of the research methods. And in the second part, students are expected to conduct their own research projects either individually or as a group.

Fifth Semester

Macroeconomics I: This is an introductory macroeconomics course. The aim of the course is to develop an understanding of elementary macroeconomic analysis and its applications. By the end of the term, the student should have acquired a basic understanding of the main macroeconomic topics, including national income, aggregate demand and supply, an introduction to the real economy and money and prices in the long run and some basic concepts about inflation and unemployment trade-off. The material covered in this course willhelp the student to organize his/her ideas about economics.

Econometric Analyses: This course aims to introduce students to the definition, scope and methodology of econometrics. The main purpose is to acquaint students with LS and ML estimators, properties of estimators, tests of significance and tests of restrictions, econometric problems, multicolinearity, auto-correlation, heteroskedasticity and bias, extensions to the basic model, non-linear models, dummy variables, structural change, dynamic models, distributed lag, polynomial lags and Almon lags, ARIMA and AD models, unit roots,co-integration and ECM models, simultaneous models, the identification and consistent estimation of simultaneous models, 2SLS, IV and other estimators, Granger causality and exogeneity.

International Economics: This course aims to cover the theoretical basis of international trade and capital flows. This is to enable the student to get a grasp of the rising importance of international economics as globalization invokes an international dimension in economic phenomena, as well as the decision-making process by firms, governments and consumers. The principal aim of the course is to provide students with the analytical tools required for appraising the significance of international trade and of economic policies designed to cope with related issues. The coverage of the course goes beyond trade to financial markets, so as to provide the theoretical underpinnings of the course on financial market analysis, offered in the second semester of year IV. On the successful completion of this unit, students should be able to understand the basic principles guiding international commodity and finance flows, appreciate the roles of relevant international institutions and critically assess policies implemented to improve the economy's performance in the international arena.

Tax Law: The fundamental principles of tax law will be covered primarily as part of this course. After the basics of tax law, the following issues will be analysed and discussed in detail: General provisions regarding all types of taxes within the Turkish Tax Law system, the legal order to which a taxpayer will be subject to from the beginning of the tax till its payment, the rights and responsibilities of a taxpayer, the audit of a taxpayer, rules of fighting tax loss and tax evasion, tax crimes and sanctions and how to avoid them, tax enforcement law and general principles regarding the justice system.

Financial Management I: This introduction to corporate financial management and investments provides the framework, concepts and tools for analyzing financial decisions by applying the fundamental principles of modern financial theory. Major topics include the time value of money and capital budgeting.

Political Economy: The purpose of this course is to present an alternative approach to the accumulated wisdom of mainstream economic theory via the reading of Karl Marx's ”Capital”. The course itself is a systematic exposition of the Marxian political economy with some attention to modern commentaries regarding its theoretical strength and relevance for our modern capitalist system.

Sixth Semester

Macroeconomics II: The course presents the theory of short-run economic fluctuations, which provides the basis for understanding most discussions of monetary and fiscal policy. The course also gives ample attention to long-term topics including economic growth, the natural rate of unemployment, persistent inflation and government debt. Topics include money supply and money demand, the open economy, the theory of economic fluctuations and debates over various macroeconomic issues. Theoretical models are including the IS/LM, Mundell Fleming, AD/ AS. The objective of this course is to teach intermediate level Macroeconomics which provides students with the basic short run macroeconomic policy tools and long run growth concept. Both the theoretical and practical aspects of macro economy will be covered. Macroeconomics is a theoretical as well as an empirical discipline, motivated and guided by a wide array of experience. In line with this approach, the course is conducted on the basis of examples related to current issues in Turkey.

Applied Econometrics II: This course is mainly an introduction to micro-econometrics, which involvesthe estimation of economic models using micro data (e.g. data on individuals, households, or firms). Following a brief introduction to the method of maximum likelihood, standard models and procedures will be presented. Emphasis will be placed on applied work rather than theoretical details that the students may find more challenging. Weekly lectures will be held in the computer lab, and the students will spend the last hour of the lecture carrying out empirical analyses using sample data sets.

Money and Banking: The aim of the course is to familiarize students with the basics of monetary economics, with special emphasis on Turkey. It starts with simple definitions money supply and demand, followed by simple models of interest rate and exchange rate determination, leading to a more general model of the economy. The second part covers the institutional and policy aspects of monetary economics, from central bank independence to exchange rate regimes, monetary policy options, Turkish and global crises, etc. The course is specially designed for Turkish students, with a Turkish textbook, and emphasis on issues relevant for the Turkish economy. Students are expected to undertake empirical work on the relevant Turkish data. Working knowledge of basic macroeconomics is required.

Financial Management II: The objective of this course is to imply the basic finance principals on multinational companies and international markets by the help of case studies. Thus, it builds on and extends the valuation framework provided by domestic corporate finance to account for dimensions unique to international finance and focuses on decision-making in an international context. This course concentrates on the process behind international investment and financing decisions, especially considering political and foreign exchange risks. In this context, this course also provides an infrastructure of risk management for multinational companies using basic financial methods and products.

Managerial Accounting: The aim of this course is to develop further understanding of the context, concept and techniques of accounting in its role of providing management information for various planning, control and decision-making purposes. Students will develop an awareness of the inter-relationships and implications of behavioral, economic and quantitative aspects and of their influences upon managerial accounting activity.

Turkish Taxation System: The course is designed to acquaint the students with taxation concepts, procedures and developments and to help the students understand the basic principles of tax laws and their applications under Turkish and international taxation. At the completion of this course, students should be able to describe and critically appraise the basic principles of tax law and the history of tax law, understand and explain the Turkish taxation system and apply basic international taxation procedures and techniques to practical situations.

Seventh Semester

Dissertation I: The graduation project, which is supervised by a faculty member, requires the student to put into applied use the skills acquired through his or her course work.

Turkish Economy: The aim of this course is to introduce the student to the major quantitative and qualitative characteristics of the Turkish economy and to accustom the student to finding, handling and presenting statistical data.

Eighth Semester

Dissertation 2: The graduation project, which is supervised by a faculty member, requires the student to put into applied use the skills acquired through his or her course work.

Fiscal Policy: This course will explore the theoretical and empirical analysis of the effect of money on economy. The effect of money, credit and liquidity on income, employment, economic growth and inflation will be analyzed. The goals of monetary policy, the methods used to obtain these goals, and the effects of these methods will be discussed. Moreover, issues such as the functioning of monetary policy in international financial system; the relationship of the financial system with the real economy, monetary policy channels (money, bank credit, and balance sheet channels), and reasons and outcomes of inflation will be undertaken.

Elective Courses

Fine Arts I - Painting: To make students perceive the aesthetic values and the composition of arts and make students apply it. To introduce different kinds of art techniques and equipment and apply them. To make students comprehend the art movements and their styles and teach students how to analyse it.

Fine Arts I - Music: The aim of this course is to teach the students the importance of music in human life, music, culture, wealth, national music back then to know the properties, to recognize and consciously use their own voice, singing individually and collectively to learn the rules of the national instruments is to recognize and detect differences.

Fine Arts I - Folk Dances: The course aims For Students; Local Information of Turkish Folk Dances, Stagecraft, Turkish folk science, Rhythmic Movement skills, Traditional costumes of the Turks and supporting these courses are given in the game training, culture and teaching methods.

Fine Arts 2 - Painting: True and accurate perception, identification and precise conveyance of relations between forms for a solid foundation of the students’ basis.

Fine Arts 2 - Music: The aim of this course is to provide the students with the ability to express himself with music by informing them about the basic music education and general music knowledge and so to develop and enhance the skills and music information.

Fine Arts 2 - Folk Dances: The course aims For Students; Local Information of Turkish Folk Dances, Stagecraft, Turkish folk science, Rhythmic Movement skills, Traditional costumes of the Turks and supporting these courses are given in the game training, culture and teaching methods.

Entrepreneurship: Role of entrepreneurs in business, problems encountered in project management, technical and functional skills necessary for SME businesses, personal qualities of entrepreneurs, development of business plans, entrepreneurship in the world.

Social Responsibility Project I: This course with a general aim to raise students' awareness about human rights, democracy and associated values and to improve their abilties to conceptualize the problems they face/witness in daily life within a human rights framework, aspires to enrich students' attitudes to position themselves against human rights violations and their sense of respect about diversities in and multicultural aspects of society. It is also designed as a conceptual base to make it possible that aforementioned educational gains can be transformed into voluntary experiences from an active citizenship point of view. The course is being carried out in a participatory and student-centered way making use of group work and discussions based on students' experiences. By applying non-formal, participatory experiential learning methods, it is intended to provide a space for students where they can learn from each others' experiences and from other active agencies in civil society.Throughout the semester, following the first part of the course where concepts such as democracy, voluntarism/active citizenship, civil society, human rights, youth and social rights are discussed using experiential learning techniques; thematic worksops about children's rights, women's rigths,environmental rights etc are conducted with the assistance of different NGOs and people working there. In the last part,students are expected to work in small groups in the project cycle management framework step by step and develop a social responsibility project proposal that they can realize in following semesters.

Principles of Marketing: The aim of this course is giving information about core concepts and practices of marketing, examining marketing environment and marketing mixes.

Negotiable Instruments Law: Focused at the concept, types, form requirements, transfer and the results of nonpayment of negotiable instruments.

Financial Statement Analysis: The objective of the course is to teach how to prepare and report statement of financial position, comprehensive income statement, fund flow and cash flows statement, and cost of goods sold statement with applications.

Public Economy: Economic and political analysis of the relationship between the individual, society and state, examine share of the state's in the market economy, within this framework analyze the effects of the public goods, public expenditures and public revenue on the individual and society, examine the decision-making process and the voting rules in the public sector, to analyze with detail positive and normative public choice theory.

Labor Economics: The aim of this course is to provide students with an understanding of how labor markets work. The labor market is a special kind of market in which workers, whom we are used to seeing as the consumers in the goods market, are on the supply side, and firms, which we are used to seeing as the producers, make up the demand side. The interaction of labor supply and demand determines how many people are employed and how much they get paid for their time. Among the main issues of interest to be examined in Labor Economics are the 'labor force participation' and 'hours of work' decisions of individuals. While relevant concepts such as human capital, labour mobility and unemployment will also be covered, special attention will be paid to the development and the present structure of the Turkish labor market.

Business Budgeting: This course is designed to explain to the participants the financing requirements of a company, allowing them to understand the concepts and underlying principles of financial decisions and the techniques for decision-making. On completion of the course the participants will have an understanding of the financial requirements of a company and be able to evaluate the financing decisions to be made by a company.

Managerial Accounting: The aim of this course is to develop further understanding of the context, concept and techniques of accounting in its role of providing management information for various planning, control and decision-making purposes. Students will develop an awareness of the inter-relationships and implications of behavioral, economic and quantitative aspects and of their influences upon managerial accounting activity.

Industrial Economy: This course examines in detail the different forms of organizational structures industries can form and strategic behavior of firms in such settings. We begin our lectures with a focus on the concept of a firm and its cost structure, developing the incentive mechanisms behind its actions. This will be followed by examination of different market structures in which an industry will be functioning. After studying individual firm behavior, we will concentrate on industries where multiple firms exist. In such industries behavior of a firm depends not only its internal structure (i.e. its cost structure) but also on the actions of the others. In this context we focus on Bertrand and Cournot equilibrium models as well as dynamic price competition and tacit collusion. We will then focus on various business practices of firms in different environments. Special emphasis on topics such as price discrimination, single and multi product pricing both in static and dynamic context will be given.

Labour Law: This course is designed to introduce students the basic functions of employment law in the context of the individual employment relationship and to enable them to understand law and its implications on the employment context. It is aimed to provide a basic knowledge of the principles of employment law and the legal structure of the conclusion, terms and termination of the employment contract. At the end of this course, students are expected to be able to recognize the legal nature of the human resource management procedures.

Financial Markets & Institutions: The content of this course will be comprised of mainly examining the structure of financial institutions and markets in developed countries and in Turkey as well as their interactions. The basic topics to be covered in this course are; the evolution of financial institutions, their role within the financial system, the operation of financial markets, their impact on economy, their future role and possible development strategies for Turkish financial markets.

Cost Accounting: Cost accounting provides key data to managers for planning and controlling, as well as data on costing products, services, and customers.  By focusing on basic concepts, analyses, uses, and procedures instead of procedures alone, we recognize cost accounting as a managerial tool. The aim of the course is to equip students with skills and knowledge to; identify and calculate different types of costs (direct, indirect, variable, and fixed costs), distinguish between job-costing, process-costing, and joint-costing Systems, determine the product cost by means of full- costing and direct-costing methods and determine the product cost by means of historical (actual) and standard cost system.

Working Capital Management: The major objective of this course is to acquaint students with the modern techniques and practices of short-term corporate finance. The course will cover in detail the key components of a firm’s current assets and current liabilities, liquidity and default risk, and short-term financing and investing decisions. Both lectures and case studies will be used to explore these topics.

Project Evaluation: Project Finance involves the raising of funds to finance an economically separable capital investment project in which the providers of the funds look primarily to the cash flow from the project as the source of funds to service their loans and provide the return of and a return on their equity invested in the project. This is a practical course that provides students an opportunity to understand the risk-return character of limited recourse projects from multiple perspectives. Case studies on risk structuring span a variety of sectors and geographical regions.

Current Issues in Economics: An introduction to the application of economic analysis to current economic problems and the consideration of policy alternatives. This course investigates the role of the Government of Turkey in the economy in pursuit of economic and social goals.

Economical Growth and Development: This course provides students with an understanding of economic theories and analysis in the field of development economics. The course is designed to deal with a selection of issues and problems facing under-developed countries. The topics will cover both macroeconomic and microeconomic issues in development on sources of economic growth, including neo-classical growth models and the more recent endogenous growth models; the role of international trade and foreign aid in economic growth as well as more microeconomic issues such as labour, migration and education.

Environmental Economics: This course aims at equipping students with economic methods and tools to analyze basic environmental issues while strengthening group work skills. This course combines theoretical analysis with discussions on specific environmental policies as applied to water, air pollution, energy, climate change and human health issues. Within these examples, particular topics that will be covered are the concepts of sustainability, microeconomic analysis of environmental regulation, the problem of social cost, policy instrument choice, and estimating costs and benefits of environmental improvements via revealed preferences (hedonic analysis, travel cost method, household production) or stated preferences.

Time Series Analysis: This course introduces the theory and practice of time series analysis, with an emphasis on practical skills. Having completed this course, you will be able to model and forecast a time series as well as read papers from the literature and start to do original research in time series analysis. More generally, you will acquire an appreciation for the role of dependence in statistical modeling.

Interpretation of Economical and Financial Indicators: This couse gives an understanding of fundamental economic principles, theories and concepts, and of the methods of analysis used by an economist; the ability to use the tools of economic reasoning to explain, analyse and resolve economic issues, and evaluate policy decisions; the habit of reading critically, from a variety of sources, to gain information about the changing economic activities and policies at the national and international levels;the ability to use evidence in making rational arguments in economic context and understand the roles of various economic agents.

Crises Economics: The objective is to illuminate (i) the changes in macroeconomic thinking necessitated by recent events (ii) the relationship between analytical macroeconomics, finance and policymaking in a political context (iii) lessons of recent experience for public policies directed at preventing crises in the future and responding to them when they come. The lectures will draw on the professional economic literature to the minimum extent necessary to facilitate understanding of the issues involved. The primary focus will be on the process of policy choice and the factors entering into actual policy decisions. Each lecture after the first introductory lecture will cover a different aspect of the policy response to the crisis. Sections will take up relevant analytical economic aspects.

Global Economy: This course offers an overview of various aspects of global economy within the field of economic geography and its linkages to related issues of resources, development, international business and trade. It investigates the phenomenon of globalization and seeks to provide understanding of today’s increasingly interdependent world. Geographers are interested in examining the difference location makes to how economic activity is organized as globalization makes small differences among places increasingly important. This course recognizes that economy cannot be treated separately from other domains of social studies so such topics as political economic theories and models, historical context, consumption trends, role of telecommunications, and others will be discussed.

Health Economics: This course focuses on the individual as a producer of health and consumer of health care. Household production of health is fundamental. Demand and supply of health and medical care are examined from the perspectives of individuals as consumers/patients. Economic models are developed and evidence is examined pertaining to how much health matters for the economic wellbeing of individuals as well as the growth and development of societies. Other topics covered include externalities and public health, how technology and quality influence expenditures, insurance and information, and how values of health improvements, including values of statistical life, are estimated for benefit-cost analysis.

IFRS (International Financial Reporting Systems): The primary objective of this course is to familiarize students with basic financial reporting concepts under IFRS and U.S. GAAP and their differences and similarities. Topics will include accounting principles relating to the measurement, valuation and reporting of assets, liabilities and equity, and related internal control considerations. Another goal is to help students understand the process through which accounting standards are determined under both IFRS and U.S. GAAP, the role of the joint convergence project, and major securities exchange reporting requirements. The course also emphasizes analysis of cases and actual financial reports and the application of the basic concepts of financial accounting to issues such as long-term assets, inventory, sales, receivables, debt securities, and equity. In addition to discipline-specific objectives, some learning objectives are taught, practiced, and reinforced throughout the curriculum, including English communication skills, information competency skills and multicultural awareness.

Derivatives and Financial Markets: To provide a basic understanding of derivatives and introduce the analytics of derivative valuation. To provide practical and simple investment and corporate financial management strategies using derivatives in a manner which will allow students to apply these concepts and skills. To practice meeting investment and corporate finance objectives with derivatives, using a series of exampleThis course program is designed to expand participants' understanding of derivative-related financial instruments (forwards, futures and options), and their use in investment and corporate financial management.

Financial Services Marketing: The distinctive characteristics of financial services. Analyzing the marketing environment of financial services. Strategic development and marketing planning of financial services.  The marketing information system and the marketing research of financial services. Understanding the behavior of the financial services customer. Segmentation – Targeting – Positioning.  The marketing mix of financial services : Product, Process, People, Price, Place, Physical Evidence, Promotion. The management of customer relationship and expectations. Critical success factors in financial services: Trust, Quality, Satisfaction and Loyalty.  

Econometric Analysis of Panel Data: This is a course on applied econometrics dealing with 'panel' or 'longitudinal' data sets. Topics to be studied include specification, estimation, and inference in the context of models that include individual (firm, person, etc.) and/or time effects. We will begin with a development of the standard linear regression model, then apply it to panel data settings involving 'fixed' and 'random' effects. The basic model will be extended to dynamic models with recently developed GMM and instrumental variables methods. We will consider numerous applications from the literature, including static and dynamic panel data regression models.  

Risk Management & Insurance: In today’s world of rapid information flows, rising volatility, regulatory concerns and oversight, prudent management increasingly requires understanding and measuring risk. Merged or individual banks, securities dealers, insurance companies and industrial firms with significant financing operations, all require enterprise-wide risk management that may span many operations across currencies and locations in real time. Risk management establishes standards for aggregating disparate information, gathering market data, calculating risk measures and creating timely reporting tools for management market, credit, and operational risks. This course is directed toward students interested in understanding how large-scale complex risk can be quantified, needs to be managed and architected. We identify the business and technical issues, regulatory requirements and techniques to measure and report risk across a major organization.

Financial Auditing: Financial Audit encompasses many principles and procedures used to gather evidence to support the opinion expressed in the “Auditor’s Report”. This introductory course covers the basic concepts involved with various types of audits. With emphasis on the application of auditing standards and techniques used in Statutory Audits, Procedural Audits and Operational (Internal) Auditing with references to special areas of auditing such as Information Systems, government auditing, etc. Witnessing recent corporate malfeasance and financial reporting obfuscation events in our nation lately, we all know now that accounting is too important to managers, organizations, and societies to be left to accountants alone. Accounting information is often the basis for decisions. Accounting reports are often the basis on which the effectiveness of stewardship decisions and actions are evaluated.

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