Course Descriptions

Code	Name	Hours	Credit	ECTS
ECO 500	Graduate Seminar	0+1+0	0	3
A series of seminars by graduate students, faculty and guest speakers on their current research topics in the field of economics.
ECO 501	Advanced Microeconomics	3+0+0	3	7
Consumer theory, producer theory, theory of the firm. Consumer demand and choice under uncertainty. Introduction to welfare analysis and social choice. Price formation and market equilibrium under different market structures. Economics of information, public goods and externalities. Recent developments in economic theory.
ECO 502	Advanced Macroeconomics	3+0+0	3	7
Determination of national income, employment, inflation and exchange rates. Growth theories. Technological progress. Business-cycle fluctations. Recent developments in macroeconomics. Theoretical and empirical analysis of macroeconomic variables.
ECO 511	International Trade	3+0+0	3	7
International trade and welfare effects: production, wages, prices and international trade. Concepts and tools of international trade. Trade policies: the impact of different trade policy instruments, including tariffs and quotas, on firm profits and prices. Selected topics in international trade: exchange rate markets, export-import operations, custom procedures and technical regulations, international sales contracts and incoterms.
ECO 512	Money, Banking and Financial Economics	3+0+0	3	7
Structure, function and the role of financial institutions in the economy. The relation of money and the banking system , and its impact to inflation, interest rates and economic growth. Transmission process of monetary and fiscal policies and central banking. Presentation and discussion of theoretical and empirical evidence for each topic.
ECO 514	Global Economy and Growth	3+0+0	3	7
International monetary and financial relationships, exchange rates, balance of payments, open market economies, external borrowing, global system and financial crises. Multinational companies and production at the global scale, global development, recent developments in global economic policies.
ECO 522	International Finance	3+0+0	3	7
An overview of open economy macroeconomic policies. International financial markets and policies. Exchange rate determination. Parity conditions. Forward-looking financial instruments. Balance of payments. International monetary systems. International capital flows. Country interdependence and interaction between domestic and international economic policy objectives.
ECO 525	Transportation Economics	3+0+0	3	7
Economic analysis of planning and policy issues in transportation. Consumer behavior, transport cost and supply models, market equilibrium; and current topics in transportation economics such as regulation-deregulation, taxation, subsidy and other forms of government intervention. Welfare economics and social cost pricing, privatization of public transportation services.
ECO 526	Economics of Public Sector	3+0+0	3	7
Economic analysis of the public sector including public finance, welfare economics, evaluation of public expenditure, theories of taxation, analysis of tax structure.
ECO 530	Game Theory	3+0+0	3	7
Fundamental definitions and concepts in game theory. Dominant strategy and Nash equilibrium. Cooperation and coordination. Static and dynamic games under complete and incomplete information. Repeated games. Economic applications: Coase theorem, adverse selection and signalling, incentive compatible contracts, Cournot, Stackelberg and Bertrand oligopoly models. Cartels, limit pricing,strategic trade policy, incentives and mechanism design, social choice theory.
ECO 531	Econometrics	3+0+0	3	7
The nature of regression analysis. Univariate and multivariate regression analysis. The method of least squares. Tests of significance, hypothesis testing, confidence intervals and inference. Serial correlation, heteroskedasticity, and multicollinearity. Analysis of cross section and time series data.
ECO 533	Tourism Economics	3+0+0	3	7
Applications of economic analysis to recreation and tourism. Estimation and prediction of demand and supply. Impacts of tourism on regional economies. Use of economic analysis in marketing and policy decisions of tourism. Alternative tourism. Role of tourism in economic development.
ECO 534	Economics of Art	3+0+0	3	7
Economic analysis of the creation and consumption of artistic and cultural items. The relation of art and culture to the market mechanism, the pricing of artistic and cultural products. Economic analysis of the culture industry fields such as cinema, music and media. Market structures in the culture industry.
ECO 551	Environmental Economics	3+0+0	3	7
Micro and macro economic bases of environmental issues and policies. Ethics, economics and the environment. Welfare economics and the environment: efficiency and optimality, market failure and the environment. Externalities and the common-property basis of environmental problems. Estimating the costs of pollution. Emissions tax, emission abatement subsidy, alternative policies and instruments. Evaluating thematic issues such as air and water pollution, solid-waste disposal, climate change and renewable energy resources by investigating relevant cases. Economic analysis of the production-environment relationship in selected sectors.
ECO 552	Agricultural Economics	3+0+0	3	7
Agricultural policies: goals, values and welfare maximization, theories of agricultural development, policies related to agricultural products, policies related to natural resources, energy policy needs for agricultural and rural development, subsidies to improve agricultural income distribution, labor mobility and wages. Agriculture and technology. Agricultural taxation, trade-off between agricultural development and environment.
ECO 554	Energy Sector Economics	3+0+0	3	7
World energy sector: supply and demand projections in energy markets, energy liberalization, energy investments and pricing policies. Energy sector in Türkiye: supply and demand projections, financing energy investments, fossil and renewable energy resources, sustainable energy policies, energy efficiency. Energy policies, legislation and practices. Restructuring and challenges in the European Union accession process. Energy trade and case studies.
ECO 555	Economics of Sports	3+0+0	3	7
The economics of sports marketing. Stadium economics and financing. Structure of competition and economic incentives. The economics of professional team sports and sports broadcasting. The public finance aspects of professional sports teams. Player related issues. Sports labor markets and bargaining agreements. Discrimination in sports. Sports betting markets and efficient market theory.
ECO 562	Research Methods for Applied Economics	3+0+0	3	7
Using research methods in economic decision making processes. Formulating the research question and hypotheses. Sampling, data collection and procedures using discipline specific resources. Experimental design, measurement and calibration. Incorporation of statistical methods into data analysis.
ECO 570	Labour Economics	3+0+0	3	7
Labour demand, labour supply, equilibrium in labour market, human capital, turn-over in labour market, job seeking and unemployment. Discussion of issues regarding Turkish labour market.
ECO 571	Economics of Industrial Organization	3+0+0	3	7
Pricing/output decisions, conduct and performance of firms under different market structures. Productive, distributive and allocative efficiency. Oligopoly theories. Product differentiation. Effects of incomplete and asymmetric information. Price discrimination, resale price maintenance, tie-in sales. Predatory pricing, collusive agreements, mergers and other anti-competitive conduct. Strategic competition under imperfectly competitive markets, antitrust laws and public policies that promote and hinder competition.
ECO 573	Economics of Digital Technology	3+0+0	3	7
Economic analysis of the production and consumption of goods and services in digital form. Software sector, social media, free software, intellectual property rigths, sharing on the Internet, P2P networks, socio-economic effects of the Internet, the concepts of knowledge economy and post-industrial society. Applied analysis of the information sector.
ECO 574	Economics of Network	3+0+0	3	7
Economics of networks, interdependency of actions between economic decisions and between actors, spread of new ideas, networks in the labor market.
ECO 577	Health Economics	3+0+0	3	7
Analysis, measurement and modeling of healthcare systems and services, and efficiency criteria. Investment in healthcare and human capital, the demand for and supply of health insurance. Incorporation of health and medical insurance in determining short-run and long-run labor supply; relationship between health and economic development. Prescription drug policy, cost-benefit and cost-effectiveness analysis; financing health care in developing countries; modeling provider behaviour; equity and normative frameworks for economic analysis in the healthcare industry; population dynamics and recent developments in the Turkish healthcare industry.
ECO 580	Term Project		Non-Credit	17
In depth study of a project by the Applied Economics students in the non-thesis program under the guidance of a faculty member.
ECO 581-589	Special Topics in Applied Economics	3+0+0	3	7
Study of special topics chosen among the recent theoretical, methodological and institutional developments in applied economics.
ECO 590	M.A. Thesis	3+0+0	3	24
Preparation of a thesis in Applied Economics under the supervision of a faculty member.