Web Site of the Department

Head of Department: Cevdet Emre Alper

Professors: Fikret Adaman, C. Emre Alper, Cem Behar, Osman Bubik, Ayse Buðra, Refik Erzan, Cevat Karatas*, Resat Kayali, Izzettin Onder*, Sevket Pamuk*, Burak Saltoglu, Unal Zenginobuz

Associate Professors: Gunar Evcimen, Ayse Mumcu, Semsa Ozar

Assistant Professors: Oya Pinar Ardic, Guzin Gulsun Arikan, Ahmet Faruk Aysan, Burcay Erus, M. Kerim Gokay*, Ozan Hatipoglu, Ozlen Hic*, Mehmet Inhan*, Kamil Kivanc Kahraman, Gokhan Ozertan, Begum Ozkaynak, Burcin Unel, Levent Yildiran

*Part-time

The Department of Economics offers both undergraduate and graduate degrees in Economics. The modern analytical and quantitative methods of economics are emphasized, not merely as tools but as part of an overall approach to train students in systematic and independent critical thinking.

The undergraduate program offers a wide range of courses in all fields of economics and the students graduate with a very strong overall background in economics. For the majority of graduates who go on to professional carreers in private and public sector, the economics education they receive at Bogaziçi University constitutes a very solid base on which to develop more applied skills. Those who go on to graduate school, both in Turkey and abroad, have been exceptionally successfull with their analytical background.

COURSE DESCRIPTIONS

EC 101 Principles of Microeconomics (Mikroekonominin Ilkeleri) (3+2+0) 3
Nature, scope and methods of economics; a general view of the price system; consumer behavior; theory of the firm; illustrations and applications from the Turkish economy.

EC 102 Principles of Macroeconomics (Makroekonominin Ilkeleri) (3+2+0) 3
National income and its determination; changes in national income, elements of public finance, money and banking, international trade, macroeconomic policy, economic growth and development; illustrations and applications from the Turkish economy.

UNDERGRADUATE PROGRAM

TOTAL : 141 credits

EC 103 Orentation to Economics (Ekonomiye Yonlendirme) (1+0+0) 1
A short history of economics, its development, its present status, and its contribution to other social sciences; issues pertaining to positive versus normative economics, macro- versus micro-economics.

EC 203 Microeconomics I (Mikroekonomi I) (3+2+0) 3
Consumer behavior and demand; general equilibrium: pure exchange economy, first and second welfare theorems; production theory and costs; theory of the firm and industry structure; analysis of perfectly competitive markets; market failures: monopoly, externalities, public goods and asymmetric information.
Prerequisites: EC 101.

EC 205 Macroeconomics I (Makroekonomi I) (3+2+0) 3
Classical, Keynesian and monetarist theories; theories of rational expectations: new classical economics and real business cycle theory, new Keynesian economic.
Prerequisites: EC 102.

EC 206 Microeconomics II (Mikroekonomi II) (3+2+0) 3
Choice under uncertainty; simultaneous move games and related solution concepts: dominant strategy equilibrium, Nash Equilibrium, equilibrium in mixed strategies. Bayesian Nash equilibrium; sequential games and related solution concepts: backward induction, subgame perfect Nash equilibrium; repeated games; applications from industrial organization, public goods, and economics of asymmetric information (hidden action, hidden information, screening).
Prerequisites: EC 203.

EC 207 An Economic Approach to Political Processes (3+0+0) 3
(Siyasi Sureclere Ekonomik Yaklasim)
The behaviour of voters, the problems of constructing collective decisions, political parties, coalitions, constitutional design.

EC 208 Macroeconomics II (Makroekonomi II) (3+2+0) 3
Exchange rates and open-economy macroeconomics: the Mundell-Fleming model, sticky-price monetary model; the international monetary system: a historical perspective; capital flows and financial crises.
Prerequisites: EC 205.

EC 210 Evolution of World Economy (Dunya Ekonomisinde Evrim) (3+0+0) 3
The economic processes leading to the formation of world economy in the 16th century. Decline of the supremacy of Mediterranean countries and evolution of Northern Europe as the main force in the creation of a single world economy. The dynamics of world economy from 16th century to the beginning of 20th century. Different models of industrialization during this period and their impacts on the less developed countries of the world. Economic forces leading to changing patterns of production and international trade.
Prerequisites: EC 101, 102.

EC 211 Contemporary World Economy (20th Century) (3+0+0) 3
(Cagdas Dunya Ekonomisi (20. Yüzyil))
World economy before World War I. World economic processes and main economic policies followed between two world wars. The economic forces leading to the 1930's Great World Depression and their consequences. New economic institutions and economic policies followed after World War II in developed and developing countries.
Prerequisites: EC 101, 102.

EC 214, 215 Introduction to Applied Economics I, II (3+1+0)3
(Uygulamali Iktisata Giris I, II)
The course aims to build a bridge between the economic principles which form the basis of introductory courses and the contemporary issues or problems in economics, and concentrate each semester upon two or three topics that are related with contemporary events. The courses are complementary to the second year main theory courses: EC 203 Microeconomics I and EC 205 Macroeconomics I. EC 214 is offered in the first semester, EC 215 in the second semester.
Prerequisites: EC 101, 102.

EC 223 Mathematics for Economists (Iktisatcilar için Matematik) (3+2+0) 3
Introduction of basic mathematical tools used in economic analysis; present value and discounting; multivariate differential and integral calculus; unconstrained and constrained optimization; difference and differential equations; dynamic optimization.
Prerequisites: EC 101, EC 102, MATH 101, and MATH 102.
Corequisite: MATH 201.

EC 225 Mathematics for Economists II (Iktisatcilar Icin Matematik II) (3+2+0)3
Economic dynamics and integral calculus, differential equations, difference equations, simultaneous differential and difference equations and their applications to economic problems, business cycles and growth models.
Prerequisites: EC 223, MATH 102.

EC 231 Statistics I (Istatistik I) (3+2+0) 4
Presentation and interpretation of data; basic probability theory; theoretical distributions; problems of estimation and tests of hypotheses.

EC 232 Statistics II (Istatistik II) (3+2+0) 4
Simple regression and correlation; multiple regression and correlation; selected topics in regression analysis; index numbers; time-series analysis.

EC 233 Mathematical Statistics I (Matematiksel Istatistik I) (3+2+0) 3
Probability theory covering permutations, combinations, finite sample spaces; conditional probability, random variables, functions of random variables, moments, moment generating function, theoretical distributions, joint distributions.
Prerequisites: MATH 101, MATH 102.

EC 234 Mathematical Statistics II (Matematiksel Istatistik II) (3+2+0) 3
Elements of statistical analysis; statistical inference including estimation and tests of hypotheses; regression, correlation and analysis of variance.
Prerequisites: EC 233.

EC 301 Economics of Industrial Organization (3+1+0)3
(Sanayi Organizasyonu Ekonomisi)
Theories of competition, oligopoly and monopoly, market structure, effects of market power on prices, profits and efficiency, technological progress, finance, mergers and public policies, the economies and diseconomies of scale, industry case studies.
Prerequisites: EC 203, 205.

EC 302 Natural Resources and Environmental Economics I (3+0+0) 3
(Dogal Kaynaklar ve Cevre Ekonomisi I)
An introduction to some of the important aspects of energy, environment, depletable resources, and economic development; issues associated with the economics of natural resource availability; various aspects of the supply and demand of fuel and non-fuel primary commodities, and their prices; examination of fuel and commodity cartels.
Prerequisites: EC 203, 205.

EC 303 Natural Resources and Environmental Economics II (3+0+0) 3
(Dogal Kaynaklar ve Cevre Ekonomisi II)
A survey of economic theory and public policies as applied to problems of environmental pollution; examination of the concept of externalities; estimation of social versus private costs and benefits; common property resources; the principles of resource analysis; the influence of particular resource management and conservation in urban and rural areas.
Prerequisites: EC 203, 205.

EC 305 Urban Economics (Kent Ekonomisi) (3+0+0) 3
Economic analysis as applied to significant current urban problems and policy; demand and supply of urban public services; urban human resources analysis; urban transportation and location decisions.
Prerequisites: EC 203, 205.

EC 306 Advanced Microeconomics (Ileri Mikroekonomi) (3+2+0)3
Existence of Walrasian equilibria; general equilibrium with production; general equilibrium under uncertainty and with financial markets; social choice; mechanism design; signalling games and perfect Bayesian Nash equilibrium; advanced treatment of hidden action and hidden information models; auctions; bargaining.
Prerequisites: EC 206, EC 223.

EC 308 Advanced Macroeconomics (Ileri Makroekonomi) (3+2+0)3
Mathematical preliminaries: calculus of variations and optimal control; models of economic growth: Harrod-Domar, Solow-Swan, Ramsey-Cass-Koopmans, Sidrausky models, endogenous growth theory; overlapping generations model.
Prerequisites: EC 205, EC 223.

EC 310 Economic History of Europe (Avrupanin Iktisadi Tarihi) (3+0+0) 3
Introduction to the economy of Europe; an analytical survey of socio-economic conditions in Europe, covering the Medieval, pre-Industrial and Industrial Revolution Era; introduction to the factors of social and economic change.
Prerequisites: EC 101, 102.

EC 311 Economic History of the Ottoman Empire (3+0+0) 3
(Osmanli Iktisat Tarihi)
An economic survey of the Ottoman Empire from its birth to the 20th century. A comparative analysis of the Ottoman institutions of Europe and the Indian Ocean area will be emphasized.
Prerequisites: EC 101, 102.

EC 312 Comparative Schools of Thought in Economics (3+0+0) 3
(Karsilastirmali Iktisadi Dusunce Okullari)
Exposition of the subject-matter and methodological standpoint of the eight leading traditions of economic thought: Classical, Neoclassical, Keynesian, Post-Keynesian, Chicago, Institutional, Radical and Austrian.
Prerequisites: EC 203, 205.

EC 313 Comparative History of Business and Finance (3+0+0) 3
(Karsilastirmali Isletme ve Finans Tarihi)
The origins and evolution of business and financial institutions in the Islamic World as well as in the West. The period to be covered extends from the medieval era to the present. Basic topics to be discussed are as follows: Private finance in Islamic context, Commenda in Europe, the Western evolution, evolution of business partnerships in the Islamic World. Financing shipping and shipbuilding in the West and in the Ottoman Empire, the Ottoman cash endowments, financing the state, the Ottoman evolution, last links in the evolution, American venture capital and the Islamic banks, attempts to introduce venture capital to Turkey.

EC 315 Economic History of Turkey (Turkiye Iktisat Tarihi) (3+0+0) 3
Survey of the social and economic conditions of Turkey (1923-1960); analysis of the dynamics of change of the Turkish economy in the context of the world economy.
Prerequisites: EC 101, 102.

EC 317 Gender and the Economy (Toplumsal Cinsiyet ve Ekonomi) (3+0+0) 3
Understanding of gender roles in the household, the labor market, and the firm, the impact of technological change on gender roles particularly from the Third World, examination of the role of socioeconomic and cultural factors and state policies i altering or reinforcing gender stereotypes.
Prerequisites: EC 101, 102.

EC 321 Mathematical Economics I (Matematiksel Iktisat I) (3+2+0) 4
Preference and utility; individual and collective choice; elements of game theory; various solution concepts, the existence and various properties of solutions; applications of game theory in comparing economic systems.
Prerequisites: EC 203, 205, 225.

EC 322 Mathematical Economics II (Matematiksel Iktisat II) (3+2+0) 4
Continuation of EC 321.
Prerequisites: EC 203, 205, 225.

EC 323 Mathematical Models in Economics I (3+2+0)3
(Iktisatta Matematiksel Modeller I)
Linear Programming, problem formulation, simplex and dual-simplex methods, The duality theory and post-optimality analysis integer programming, linear programming in the theory of production, input/output analysis, game theory.
Prerequisites: EC 101, 102, MATH 101.

EC 324 Mathematical Models in Economics II (3+2+0)3
(Iktisatta Matematiksel Modeller II)
Introductory non-linear programming, (The Kuhn-Tucker conditions), Transportation problem, dynamic programming, Assignment problems; Network Analysis, including PERT-COST systems; Inventory Models; Queving Models, Economic Growth Models, Activity Analysis.
Prerequisites: EC 101, 102, MATH 101.

EC 326 National Income Accounting (Milli Gelir Muhasebesi) (3+0+0) 3
System of National Accounting, Input/Output Economics.
Prerequisites: EC 203, 205, MATH 201.

EC 331 Econometrics (Ekonometri) (3+2+0) 3
Classical least squares analysis, statistical inference in simple and multiple regression, misspecification problem, regression with dummy variables, generalized least squares, maximum likelihood estimation.
Prerequisites: EC 234, MATH 101, MATH 201.

EC 332 Advanced Econometrics (Ileri Ekonometri) (3+2+0) 3
Heteroskedasticity, autocorrelated errors, time-series analysis, simultaneous equation models, system methods of estimation.
Prerequisite: EC 331.

EC 344 Money, Banking and Financial Institutions (3+2+0)3
(Para, Banka ve Finansal Kurumlar)
Definition of money; determinants of the supply of, and demand for, money; theories explaining the changes in the general price level; central banking, commercial banking and other financial intermediaries, monetary policy. Turkish data and institutions will be emphasized throughout the course.
Prerequisites: EC 203, 205.

EC 350 Government Control (Devlet Mudahalesi) (3+0+0) 3
Structure of markets; promotion of competition by anti-trust laws and other means; public control of certain industries, including public utility regulation; government control of production, sales and prices, government ownership and operations.
Prerequisites: EC 203, 205.

EC 351 Public Finance (Kamu Maliyesi) (3+2+0) 3
Causes of market failure and the need for government intervention in the economy (analysis of public goods, externalities, decreasing cost conditions); the problem of income distribution; budget systems and cost-benefit analysis; government expenditure patterns and tax structures.
Prerequisites: EC 203, 205.

EC 352 Topics in Public Finance (Kamu Maliyesinde Ozel Konular) (3+2+0)3
Theory of income determination; unemployment problems; the theory of economic stabilization and the impact of government expenditures and taxes on the level of economic activity.
Prerequisites: EC 351.

EC 361 International Economics (Uluslararasi Iktisat) (3+2+0) 3
The bases for trade and patterns of specialization and exchange in the classical, neoclassical and Hecksher-Ohlin-Samuelson models of trade. The effect of trade on relative and absolute factor prices. The effect of growth on trade.
Prerequisites: EC 203, 205.

EC 362 Topics in International Economics (3+2+0)3
(Uluslararasi Iktisatta Ozel Konular)
Positive and normative analysis of tariffs, subsidies, and other restrictions on trade. The foreign exchange market. Balance of payments equilibria and disequilibria. Methods of adjustment to balance of payments disequilibria under the major exchange rate systems.
Prerequisite: EC 361.

EC 400 Economics of Population (Demografi) (3+0+0) 3
Demography and demographic variables; brief survey of population theories with special emphasis on Malthusian, socialist and contemporary views; population and economic growth interactions and interferences; Turkish population problems.

EC 403 Economic Policy (Iktisat Politikasi) (3+0+0) 3
The course will introduce advanced undergraduate students to surveys of contemporary policy issues in economic literature. An effort will be made by different instructors to cover two or more independent topics per semester.
Prerequisites: EC 203, 205.

EC 405 Transportation Economics (Ulasim Ekonomisi) (3+0+0) 3
Nature of demand and cost in the transportation industry; pricing of transportation services; resource allocation; urban transportation; problems of congestion; transportation and location theory; international transportation organizations.
Prerequisites: EC 203, 205.

EC 406 Agricultural Economics (Tarim Ekonomisi) (3+0+0) 3
Sources and nature of contemporary agricultural problems; various models of agricultural development: the role and effect of agricultural policies, the interrelationships between agricultural development and other sectors of the economy; basic characteristics of Turkish agricultural development; basic Turkish agricultural problems and various possible methods of solving these problems.
Prerequisites: EC 101, 102 or EC 201, 202.

EC 407 Labor Economics (Calisma Ekonomisi) (3+0+0) 3
Labor supply and demand conditions. Wage determination under different market structures. Unemployment: concepts, methods of measurement.

EC 411 History of Economic Thought (Iktisadi Dusunce Tarihi) (3+0+0) 3
This course is devoted to a retrospective analysis of major schools of economic thought in the eighteenth and nineteenth centuries. The first part of the course focuses on Pre-Adamite economics with special emphasis on Mercantilism and Physiocracy. This is followed by a systematic examination of the theories of outstanding classical economists such as Smith, Ricardo and Malthus.
Prerequisites: EC 203, 205, Fourth Year Standing.

EC 412 Topics in History of Economic Thought (3+0+0) 3
(Iktisadi Dusunce Tarihinde Ozel Konular)
The course will begin with an intensive discussion of Marxian economics with special emphasis on the Marxian theory of value and distribution and the theory of capitalist development. Subsequently, the marginal revolution and the neoclassical theory of production and distribution will be presented. This will be followed by a discussion of the Cambridge debates on capital theory as exemplified by the reswitching of techniques controversy. The course will end with a discussion of Walras and the emergence of general equilibrium theory.
Prerequisites: EC 203, 205, Fourth Year standing.

EC 413 Fundamentals of Economics (Iktisadin Temel Konulari) (3+0+0) 3
The scope and method of economic analysis, from moral philosophy to economic analysis, social organization value and advanced price theory, theory of capital, advanced monetary theory, basis of macro economic analysis, advanced theory of international transaction, the market system vs. the government role, fiscal policy: central bank and banks, central bank and banks, exchange rate and commercial policy-customs unions, theories of economic development, the Turkish economy in the world economy.
Prerequisites: EC 203, 205.

EC 415 Selected Topics on the International Economy since 1750 (3+0+0) 3
(1750 Sonrasi Uluslararasi Iktisatta Secilmis Konular)
The emergence of a European based world economy in the aftermath of the Industrial Revolution, the United States in the 19th century, the impact of overseas trade, capital flows, intercontinental migration and colonial policies on Latin America, Africa and Asia, the emergence of Japan as an industrial power and the beginnings of industrialization in the Third World.
Prerequisites: EC 203, 205.

EC 417 Post-Keynesian Economic Analysis I (3+0+0) 3
(Post-Keynesyen Economik Analiz I)
Methodological Intrduction; Theory of Choice: risk versus uncedtainty, substansive versus procedural rationality, a theory of household choice; Theory of the Firm: the Post-Keynesian firm and its behavior, cost curves and excess capacity, cost plus prices and production prices; Credit and Money: the endogenous money supply, interest rates and liquidity preference, the structural view of endogenous money.
Prerequisites: EC 203, 205.

EC 418 Post-Keynesian Economic Analysis II (3+0+0) 3
(Post-Keynesyen Economik Analiz II)
Effective Demand and Employment: the Post-Keynesian labor market, the utilization function, pricing, rates of utilization and profits; Accumulation and Capacity: historical versus logical time, Neo-Keynesian and Kaleckian growth models, finance and accumulation; Inflation: alternative explanations of inflation, conflicting claims models of inflation.
Prerequisites: EC 203, 205.

EC 431 Applied Econometrics I (Uygulamali Ekonometri I) (3+2+0)3
Examination of the problems of econometric model building, testing, preparing and analyzing forecasts with special reference to demand, production and consumption functions, and macro-economic models.
Prerequisites: EC 331, 332.

EC 432 Applied Econometrics II (Uygulamali Ekonometri II) (3+2+0)3
Examination of macro-econometric models, estimation, forecasting and simulation.
Prerequisite: EC 431.

EC 433 Project Evaluation (Proje Degerlendirme) (3+0+0) 3
A critical survey of general investment criteria, Social Marginal Productivity of Capital (SMP), marginal per capita reinvestment surplus and time series criteria; the Little-Mirrlees method of project appraisal: choice of a numeraire and world prices; valuation of traded and non-traded goods, shadow wages and accounting rate of interest.The UNIDO approach to project appraisal: direct present benefits and costs, indirect future benefits and costs, the shadow wage rates, shadow price of investment and social discount rate, project appraisal and income distribution.
Prerequisites: EC 203, 205.

EC 441 Money and Banking in Turkey (Turkiye'de Para ve Banka) (3+1+0)3
Study of the Turkish Central Bank and the banking system in general; the working of the Turkish commercial banks, evaluation procedures for credit applications and the Bank Code.
Prerequisites: EC 203, 205.

EC 451 Public Enterprise Economics (KIT Ekonomisi) (3+0+0) 3
Range of activity, sharing of responsibility in public pricing, reasoning behind nationalization, objective function and constraints of public enterprises, pricing in public enterprises, privatization, public economic enterprises in Turkey.
Prerequisites: EC 203, 205.

EC 452 Government Budgeting (Hukumet Butcelendirmesi) (3+0+0) 3
Decision making-social choice, theoretical aspects of budgeting, principles of government budgeting, budgetary theory, budget types, cost-benefit analyses, budget terms used in Turkey, budget program of Turkey (current year).
Prerequisites: EC 351, 352.

EC 453 Fiscal Systems (Mali Sistemler) (3+0+0) 3
Anatomy of economic systems, provision for public wants, adjustments in distribution, stabilization and growth, institutions, determinants of expenditure development, theory of tax structure development.
Prerequisites: EC 351, 352.

EC 454 Turkish Tax System (Turkiye'de Vergi Sistemi) (3+0+0) 3
Historical development of the Turkish tax system. Structure of the tax system, taxes based on income, taxes based on expenditures, taxes based on wealth and transfer of wealth, elasticity of the tax system and tax burden.
Prerequisites: EC 351, 352.

EC 455 Economics of Income Distribution (Gelir Dagilimi Ekonomisi) (3+0+0) 3
A study of personal, family or household microeconomic distribution; the emphasis is placed on inequality measures and measurement problems and on applied research concerning the earned income distributions in Turkey and other countries.
Prerequisites: EC 203, 205.

EC 461 Empirical International Economics I (3+0+0) 3
(Ampirik Uluslararasi Iktisat I)
Testing trade theories: Classical theory of comparative advantage; factor proportions theory. Predicting trade flow: gravity models; estimation of income and price elasticities. Openness to the international trade: alternative measures of protectionism, outward orientation and liberalization; measuring openness to international trade. Turkish International Trade.
Prerequisites: EC 332, EC 361.

EC 462 Empirical International Economics II (3+0+0) 3
(Ampirik Uluslararasi Iktisat II)
Simple macroeconomic modeling of open economies. Rationality and efficiency of the foreign exchange markets. Exchange Rate risk premium. Target Zones. International Monetary and financial relations.
Prerequisites: EC 332, EC 362.

EC 470 Turkish Economy (Turkiye Ekonomisi) (3+2+0)3
Economic organization in, and resources of, Turkey; structure and trends in income, production, population, finance and trade; evolution of economic policy.
Prerequisites: EC 203, 205, Fourth Year standing.

EC 471 Growth and Development (Buyume ve Kalkinma) (3+2+0)3
Survey of classical and contemporary theories of growth and development, and the identification of major problems of economic development and structural change.

Prerequisites: EC 203, 205, Fourth Year standing.

EC 472 Development Finance (Kalkinma Finansmani) (3+0+0) 3
Analysis of the economic development process relating its problems to sources of its finance; the course is aimed at identifying major sources of development finance such as forced savings in the form of inflation and taxation, international sources of finance such as foreign debt and loans, voluntary savings.
Prerequisite: EC 471.

EC 474 Topics in International Development (3+2+0)3
(Uluslararasi Kalkinmada Ozel Konular)
The analysis of development policy process, alternative strategies of growth and industrialization, and the survey of leading issues in economic development.
Prerequisites: EC 471.

EC 475 European Union, the Customs Union and Turkey (3+0+0) 3
(Avrupa Birligi, Gumruk Birligi ve Turkiye)
The first part of the course is a critical survey of the institutions of the European Union (EU) and the decision making process. The second part is devoted to some specific EU policies: social policies, regional policies, the "Common Agricultural Policy", industrial policy, trade policy, competition policy and consumer protection. The third part of the course is a review of Turkey's association with the EU with emphasis on the economic implications of the EU Customs Union for Turkey.
Prerequisite: Junior or senior standing.

EC 476 Comparative Economic Systems (3+0+0) 3
(Karsilastirmali Iktisadi Sistemler)
Analysis of alternative systems of economic goals; theories of economic organization, institutions and the development process.
Prerequisites: EC 203, 205.

EC 477 Comparative Political Economy-Selected Topics I (3+0+0) 3
(Karsilastirmali Ekonomi Politik)
Theories of political economy with a special focus on structuralism, neoliberalism and institutionalism. Domestic structures and inter country variations in public choice and economic performance. The East Asian model of development. Latin America versus East Asia. The Nordic model and the future of the welfare state. Post-fordism and the flexibility debate. Comparative Privatization. The political economy of post communist transformations.
Prerequisites: EC 203, 205.

EC 478 International Political Economy (Uluslararasi Ekonomi Politik) (3+0+0) 3
The interdependence of economic and political factors at the international level. The evolution of the post war international economic order. Hegemonic stability theory. The rise and decline of American hegemony and its implications. The GATT system and its future. The rise of NICs and the near NICs. Regional integration in theory and practice. The evolution of the international monetary system and its principal institutions. Global environment and the future of north south relations.
Prerequisites: EC 203, 205.

EC 480-489 Special Topics in Economics (Ekonomide Ozel Konular) (3+2+0) 3

EC 490 Directed Reading and Research (3+0+0) 3
(Yonlendirilmis Okuma ve Arastirma)
Members of the Economics Department give reading and research assignments to students and supervise the progress of these projects. The circumstances where such projects are warranted are to be determined by the faculty members. The scope and duration of the reading and research projects are to be indicated at the beginning of the semester.

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Contact Information Bogazici University 34342 Bebek, Istanbul Tel: 0212 359 54 00