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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 Public Finance
  3. Master of Arts (MA) in Public Finance
  4. Course Structure Diagram with Credits
  5. Financial Crises and Public Sector
  6. Description
  • Description
  • Learning Outcomes
  • ECTS Credit Load
  • Course's Contribution to Program
  • Learning Outcomes & Program Qualifications
Last Updated: 12/10/2026

Code - Course Title Course Type Laboratory + Practice ECTS
MLY536 - Financial Crises and Public Sector I. SEMESTER 3 +0 6.0
Language of Instruction Türkçe
Course Type Elective Courses
Course Instructor(s) DOÇ. DR. SÜLEYMAN KASAL
Mode of Delivery Face to face
Place of Delivery On Campus
Used Educational Platforms Face-to-face
Prerequisites There is no prerequisite or co-requisite for this course.
Courses Recomended There is no recommended course.
Recommended Resources Türkiye Ekonomisinde Krizler (1929-2009), Gülten Kazgan, İstanbul Bilgi Üni. Yayınları, Kasım 2017.Finansal Krizler ve Türkiye Ekonomisi, Fatih Özatay, DK, Mart 2020.
Work Placement N. A.
Aims of the Course The aim of this course is to examine the origins, transmission mechanisms, and public-sector consequences of financial crises within theoretical, historical, and applied frameworks. The course links currency, banking, debt, and capital-flow crises to public-sector balance sheets, fiscal dominance, external financing, sovereign risk, and policy choices. Students are expected not only to explain past crises but also to diagnose vulnerabilities using real-world data and official reports, assess the trade-offs associated with alternative policy responses, and formulate evidence-based policy recommendations from the perspective of a public-sector decision maker.

Weeks Learning Outcomes Topics Teaching Methods
Week - 1 Introduction to course
Week - 2 First- and Second-Generation Crisis Models
Week - 3 Third-Generation Crisis Models: Liquidity, Balance-Sheet Vulnerabilities and External Finance
Week - 4 Historical Political Economy of Crises in Türkiye: 1923–1970
Week - 5 The Great Depression of 1929, the Financial System and the Policy Regime
Week - 6 The 1958 Crisis: Balance of Payments, Devaluation and Stabilisation
Week - 7 Oil Shocks, Developing-Country Debt Crises and Capital Flows
Week - 8 The 1978 Crisis, Fiscal Dominance and the Fiscal-Monetary Regime
Week - 9 The 24 January 1980 Programme: Fiscal Consolidation and Structural Transformation
Week - 10 Managing Financial Crises: Central Bank, Treasury and Financial Regulator
Week - 11 Türkiye 2000–2001: Anatomy of a Crisis
Week - 12 The 2008 Global Financial Crisis: From Banking Crisis to Sovereign Debt Stress
Week - 13 Leading Indicators and Early-Warning Systems
Week - 14 Globalisation, Public Finance and Fiscal Vulnerability: Policy Synthesis

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Assessment Method and Passing Requirements
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