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About the Programme Academic Staff Program Qualifications Lessons Matrix of Course & Program Qualifications Turkish Qualifications Framework (TQF) TQF & Program Qualifications
  1. Graduate School
  2. Department of Economics
  3. Non-Thesis Master’s Degree in Economics
  4. Non-Thesis Master’s Degree in Banking and Finance (Distance Education)
  5. Course Structure Diagram with Credits
  6. International Monetary Theory and Policy
  7. Description
  • Description
  • Learning Outcomes
  • ECTS Credit Load
  • Course's Contribution to Program
  • Learning Outcomes & Program Qualifications
Last Updated: 30/09/2026

Code - Course Title Course Type Laboratory + Practice ECTS
İKT594 - International Monetary Theory and Policy II. SEMESTER 3 +0 6.0
Language of Instruction Türkçe
Course Type Elective Courses
Course Instructor(s) PROF. DR. ELİF DAĞDEMİR
Mode of Delivery Distance learning methods.
Place of Delivery
Used Educational Platforms
Prerequisites N/A
Courses Recomended N/A
Recommended Resources • Paul Krugman, Maurice Obstfeld, and Marc Melitz, International Economics: Theory and Policy, 9th Edition, McGraw Hill, New York, 2013. • Blanchard, Olivier (2009). Sustaining a Global Recovery. Finance and Development, 46(3)• Greenspan, Alan (2007). Balance of Payments Imbalances. 2007 Per Jacobsson Lecture. Available at http://www.perjacobsson.org/lectures.htm• Rogoff, Kenneth (2002). Dornbusch\\\'s Overshooting Model after Twenty-Five Years. IMF Staff Papers, 49, 1-35• Taylor, Alan M. and Mark P. Taylor (2004). The Purchasing Power Parity Debate. Journal of Economic Perspectives, 18(4), 135-158• Goldberg, Pinelopi and Michael Knetter (1997). Goods Prices and Exchange Rates: What have we Learned? Journal of Economic Literature, 35(3), 1243-1272• Obstfeld, Maurice and Kenneth Rogoff (1995). The Mirage of Fixed Exchange Rates. Journal of Economic Perspectives, 9(4), 73-96• Reinhart, Carmen (2000). The Mirage of Floating Exchange Rates. American Economic Review, 90(2), 65-70• Calvo, Guillermo and Frederic Mishkin (2003). The Mirage of Exchange Rate Regimes for Emerging Market Countries. Journal of Economic Perspectives, 17(4), 99-118• Alesina, Alberto and Roberto Perotti (2004). The European Union: A Politically Incorrect View. Journal of Economic Perspectives, 18(4), 27-48• Rose, Andrew and Eric van Wincoop (2001). National Money as a Barrier to International Trade: The Real Case for Currency Union. American Economic Review, 91(2), 386-390• Krueger, Anne (1998). Wither the World Bank and IMF? Journal of Economic Literature, 36(4), 1983-2020• Camdessus, Michael (2005). International Financial Institutions: Dealing with New Global Challenges. 2005 Per Jacobsson Lecture, Available at http://www.perjacobsson.org/lectures.htm• Calvo, Guillermo, Leonardo Liederman, and Carmen Reinhart (1996). Inflows of Capital to Developing Countries in the 1990\\\'s. Journal of Economic Perspectives, 10(2), 123-139• Claessens, S. M. Dooley, and A. Warner (1995). Portfolio Capital Flows: Hot or Cold? World Bank Economic Review, 9, 153-174• Prasad, Edward and Shang-Jin Wei (2005). The Chinese Approach to Capital Inflows: Patterns and Possible Explanations. IMF Working Paper Series, No. 05/79• Summers, Lawrence (2000). International Financial Crises: Causes, Prevention, and Cures. American Economic Review, v.90:2, pp1-16• Feldstein, Martin (2002). Argentina\\\'s Fall: Lessons from the Latest Financial Crisis. Foreign Affairs, March/April 2002• International Monetary Fund (2009). World Economic Outlook, September 2009
Work Placement N/A
Aims of the Course

Weeks Learning Outcomes Topics Teaching Methods
Week - 1 The Balance of Payments and Open Economy Macroeconomics
Week - 2 Equilibrium Exchange Rate, Interest Parity, Efficiency of Global Capital Markets
Week - 3 Money, Interest Rates and Exchange Rate
Week - 4 Money and Exchange Rates with Flexible Prices and Overshooting.
Week - 5 Inflation and Exchange rates
Week - 6 Exchange Rates in the Long Run and Purchasing Power Parity
Week - 7 Empirics and Problems of PPP
Week - 8 Exchange rate Regimes and Foreign Exchange Intervention
Week - 9 Balance of Payment Crises and Capital Flight
Week - 10 Reserve Currencies in the World Monetary System
Week - 11 Policy Goals in an Open Economy: External/Internal Imbalances and Policy Trilemma
Week - 12 Fixed or Flexible Exchange Rates? Analyzing the Exchange Rate regime of the Central Bank
Week - 13 Optimum Currency Areas: European Monetary Union and the Euro: “Is Europe an optimum currency area?”
Week - 14 International Capital Market and International Banking

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