Theory of choice: properties of choice, binary choice and preference, aggregation of choice: approval voting, voting paradox, aggregation of preferences: Arrow's Theorem, utility and preference, revealed preference, demand theory: the demand curve, income and substitution effects, consumers' surplus, pure exchange and general equilibrium: Edgeworth's solution, Walras's solution, First and Second Welfare Theorems, manipulation of Walrasian solution, production: production sets and production functions, cost functions, the competitive firm's demand, imperfect competition: equilibrium concepts of Cournot, Stackelberg and Bertrand, simple regulation theory. Prerequisite: Graduate standing or consent of the instructor.

Theories of the firm: comparative economic systems in a nutshell, sharecropping, labor managed firms vs. workers' enterprises, economies with public goods: free riding, externalities, absence of markets, voluntary contributions equilibrium, Wicksell and the Lindahl solution, manipulation of Lindahl's solution, uncertainty and information: Von Neumann-Morgenstern expected utility, insurance and gambling, basic concepts of game theory and bargaining theory. Prerequisite: EC 501.

Traditional Keynesian and Monetarist views of the economy within the context of linear dynamic economic models, introduction to expectational dynamics and "rational expectations" models.
Prerequisite: Graduate standing or consent of the instructor.

Introduction to overlapping generations models (non-monetary and monetary), Ricardian equivalence proposition investigation through O-G models, the fixed-price approach and its criticism, contract theory in the investigation of sticky prices. Prerequisite: EC 503.

In the first part, the general issues in research methodology and efficient reporting are discussed. In the second part, students write term papers on assigned research topics related to the Turkish economy. Prerequisite: EC 470.

Aggregate and disaggregate energy modeling, relationship between energy demand and economic activity, impacts of alternative utility investment strategies, energy, pollution and employment policy, externalities, energy demand and supply projections, economics of energy transportation, energy conservation.

Energy and economic development; macroeconomics of the world energy crisis; energy supplies; energy conservation.

The reasons of, and possible ways of solving, the problems of the degradation of the environment and the depletion of non-renewable resources.

Industrial revolution in Western Europe, the emergence of a European based world economy in the 19th century, the impact of overseas trade, capital flows and colonial policies on Latin America, Africa and Asia, the emergence of Japan as an industrial power, the Great Depression of the 1930s and the beginnings of industrialization in the Third World.

Ottoman economy, institutions and their evolution from the fourteenth through the nineteenth centuries. Comparisons with Western Europe, Middle East and the Indian Ocean area. Impact of the European Industrial Revolution on Ottoman economy and socio-political system. Ottoman response to the European challenge.

The course starts with a brief introduction to philosophy concentrating on key epistemological concepts introduced by Hume and Kant. This is followed by a topical survey of the methodology of natural science leading to logical positivism. The critics of logical positivist epistemology such as Popper, Kuhn, Lakatos and Feyerabend are given systematic treatment. The last portion of the course is devoted to a study of the history of economic methodology in the nineteenth century. The methodological debates between the spokesmen of the Austrian School and the German Historical School are emphasized. Finally, the verificationist and the falsificationist approaches are contrasted in the works of Robbins and Hutchinson.

Recent methodological writings in the post-war period by Friedman, Machlup, Heilbroner and Myrdal are discussed at the beginning of the course to be followed by a study of the works of the rationalist and Marxist critics of neoclassical economics. Cambridge debates in capital theory are taken up in the last part of the course as a case study in the problem of paradigm choice. Prerequisite: EC 513.

The concept of industrialization, the patterns of industrialization, arguments for industrialization, resources for industrial development, technology and industrialization, economies of scale, import substitution and its critique, unemployment problem and industrialization, government policy in industrialization, an evaluation of industrialization efforts of Turkey since 1923.

Dynamics of economic and social change (1923-1980). Goals and consequences of development strategies and macro policies. Sources and forms of capital accumulation. Analysis of the institutional framework of the Turkish economy.

Different models of industrializations; case studies of England, USA, Germany, USSR, Japan and Turkey.

Methods and materials of historical demography. Historical demography and related disciplines. The study of pre-census European populations. Church records, family reconstitutions, village and town monographs. Population trends and economic evolution in past time. Ottoman/Turkish records, sources and documents on population size and composition. Research on the history of Ottoman populations.

The introduction of modern mathematical methods, particularly sets, mappings and convexity, modern static analysis; optimization problems, saddle point problems, existence of equilibrium, fixed point theorems. Prerequisites: EC 321, EC 322.

Simple multisector linear systems; balanced growth in nonlinear systems; efficient allocation and growth; special features of competitive economics; structural and reduced forms of macroeconomic models, economic dynamics. Prerequisite: EC 521.

Linear activity model of production, linear programming and duality, decomposition; producers competitive equilibrium, central planning by prices with incomplete information at the center; an introduction to resource allocation mechanisms in general, desired properties and criteria of comparison. Prerequisite: EC 323.

An introduction to cooperative and noncooperative solutions in game theory. Form and extensive-form games. Nash equilibrium, subgame-perfect equilibrium, correlated equilibrium. Bayesian equilibrium, dynamic games of complete and incomplete information, mechanism design, and solution concepts.

Economic analysis of government intervention into private practices. Economic rationale of competition policies; implementation of competition policies and related enforcement problems. Traditional regulation policies and deregulation of public utilities. Empirical evaluation of competition and regulatory policies. Prerequisites: EC 501 and EC 502, or consent of the instructor.

An economic analysis of market structures. Perfect competition, monopoly, markets for homogenous products (Cournot and Bertrand competition, collusion), markets for differentiated products (location models), concentration, mergers, entry barriers, contestable markets, research and development.

Application oriented models in industrial organziation. The economics of compatibility and standards, pricing and marketing tactics, advertising, quality, durability and warranties, managerial compensation, regulation, price dispersion, and search theory, genetic algorithms and oligopolistic equilibrium. Prerequisite: EC 526 or consent of the instructor.

Probability and distribution theory, statistical inference, classical regression model, hypothesis tests, data problems nonlinear regression models. Prerequisite: Graduate standing. EC 331 and EC 332 recommended.

Nonspherical disturbances, heteroscedasticity, serial correlation, lagged variables, models that use both cross-simultaneous equation models. Prerequisite: EC 531.

Bayesian methods, maximum likelihood methods, Box-Jenkins and spectral analysis. Prerequisites: EC 531, 532.

Control theoretical models in econometrics. Prerequisites: EC 531, 532.

Moving average models, exponential smoothing, classical and modern time series analysis. Forecasting with regression, econometric models and input/output models. Survey methods, leading indicators, technological and subjective methods. Prerequisites: EC 531, 532 or EC 331, EC 332.

Estimation and identification of linear and non-linear econometric models. Uses of models in forecasting, simulation and economic policy making. Prerequisites: EC 331, 332 or EC 531, 532.

The optimum quantity of money, the Friedman Rule, efficiency and the rate of return on money, revenue from the creation of money. Prerequisite: EC 443.

Individual choice in a static setting: risk, expected utility, optimal behavior under uncertainty. General equilibrium in a static setting: equilibrium under uncertainty, signaling equilibrium, moral hazard. Search theory. Prerequisites: EC 203, 234, Math 251.

The fiscal organization of the Turkish economy, composition and trends in government revenues and public expenditures, the tax system, the budget process, parafiscal institutions, finances of state economic enterprises and other autonomous public entities. (Taught in Turkish.)

Nature and scope of the public sector, public goods, externalities, monopolies, and public revenue systems.

Evaluation of taxes; efficiency and equity effects, use of taxes and subsidies to achieve a Pareto optimal allocation of resources; tax, subsidy and compensation criteria; social welfare function.

Macro-economic theories of income distribution, measurement techniques of inequality; income distribution in Turkey; income redistribution policies.

Theory of economic integration; economic integration models; examination of different economic unions such as EEC and LAFTA; effects of free movements of factors of production; examination of factors leading to trade creation and trade diversion and the examination of dynamic aspects of integration.

The international trading system-its evolution, institutions and rules, the results of the GATT/WTO agreements, trade and industrial policy, methods in quantification of trade barriers, theory and applications of economic integration, trading blocks, the international monetary system-its evolution, institutions and rules, trade finance capital movements, foreign direct investment, portfolio investment international credibility. Prerequisites: EC 361, 362.

National income accounting and balance of payments, absorption approach, elasticity approach and monetary approach to balance of payments and to exchange rate determination, non-traded goods, labor market, stabilization policies in open economies, expectations and exchange rate determination, assets market in open economies. Prerequisites: EC 361, 362.

Survey of the quantitative models used for economic planning and policy analysis. Topics covered are growth models, input-output models, linear programming models, computable general equilibrium models and short-term forecasting models.

Continuation of EC 571.

The course aims to introduce the student to a general background in development economics, to various paradigms and strategies of economic development; in particular, the intellectual foundations of the post-war substitutive industrialization model; disillusionment with and reactions to experience with import substitution; dependency economics and the various traditions that evolved within it; outward-looking policies and the experiences of the newly industrialized countries.

The following main approaches to production and income distribution are surveyed: Neo-classical, Marxian and Neo-Ricardian.

Seminar in Economics of Developing Countries as a continuation of EC 573; students are expected to apply their training in theoretical problems of development economics to particular empirical questions by undertaking collective research on a topic current interest.

Analysis of alternative systems of economic organization with respect to economic goals; theories of economic organization, institution and development process.

The examination of production and distribution outside the corpus of neo-classical theory, works of economists such as Kalecki, Robinson, Sraffa and Pasinetti and Marx will be emphasized. A portion of the course will be devoted to debates on capital theory.

The widening of students perspectives and awareness of interest to economists through seminars offered by faculty, guest speakers and graduate students.

Methods and materials of historical demography.

This is a course designed to direct the student in bibliographical research and reading on a subject of interest to the student, or in preparation of an M.A. thesis.

Continuation of EC 590.

Presentations by researchers, academicians and students on different topics of economics.

Presentations by researchers, academicians and students on different topics of economics.

General equilibrium: existence, optimality, stability, continuity. The core of an exchange economy. Large economies and the convergence theorem. Prerequisites EC 501, 502.

Topics in imperfect competition: multigood monopoly, price discrimination, entry, accommodation and exit, regulation theory. Topics in social choice, economic design and matching. Prerequisites: EC 501, 502.

Expectation formation, the economics of rational expectations, nominal rigidities and fluctuations, menu costs and new rationality. Prerequisites: EC 503, 504.

Real rigidities and unemployment, implicit contracts, efficiency wages. Prerequisites: EC 503, 504.

Advanced reading and research topics on Ottoman economic history. Specific topics will be determined by the instructor.

Social and economic processes during the transition to medieval era. Economic, social and institutional structures in Medieval Europe. Production and distribution relations in rural and urban areas. Factors contributing to the dissolution of medieval societies in Europe.

Interaction between the European and non-European world. The consequences of European expansion. The shift of economic hegemony from the Mediterranean to the Atlantic states. Proto-industrialization and the origins of the Industrial Revolution. The course will emphasize causes and effects as well as the comparative approach.

Topics for the research papers include sector, industry and product analysis. Period analysis of economic variables and macro policies. Factor markets and foreign economic relations.

Examination of various industrialization policies with particular reference to employment, technology, economics of scale and development.

Noncooperative solution concepts for normal and extensive form games, incomplete information, repeated games, bargaining, manipulation of bargaining solutions, moral hazard and adverse selection, auctions. Prerequisites: EC 501, 502.

Mechanism design and implementation: Gibbard-Satterthwaite Theorem, Nash implementation, Maskin's and Danilo's Theorems, subgame perfect implementation, Bayesian implementation, contract design for a single part/interacting parties, pivot mechanism. Prerequisites: EC 501, 502.

The overlapping-generations models of fiat money, the theory of public finance and the optimum quantity of money, transaction costs and its effects on welfare, employment and inflation. Prerequisites: EC 503, 504.

Money supply growth and control, inflation finance and its welfare costs, the role of expectation and the stability analysis in inflation tax issue, optimal collection of the inflation tax. Prerequisites: EC 503, 504.

Classical least squares theory, recent developments in regression analysis. Large sample theory, asymptotic properties of extremum estimators, time series analysis, generalized least squares theory. Prerequisites: EC 531, 532.

Linear simultaneous equations models, nonlinear simultaneous equations models, quantitative response models, Markov chain and duration models. Prerequisite: EC 631.

Application of econometric methods to microeconomics. Linear probability models, logit, probit, tobit models, truncated regression model. Prerequisites: EC 531, 532.

Application of econometric methods to macroeconomics. Time series analysis, vector autoregressive models, cointegration and error correction models. Prerequisites: EC 531, 532.

Selected topics in econometrics. Recent developments will be covered. Topics may include cointegration in linear and nonlinear econometric models. Prerequisites: EC 531, EC 532.

Selected topics in econometrics. Recent developments will be covered. Prerequisites: EC 531, 532.

Emergence of structural estimation, problems of structural estimation, alternatives to simultaneous equations estimation, exogeneity, vector autoregressions, early applied studies, history of macroeconometric model building. Prerequisites: EC 531, 532.

Alternative approaches to modeling, policy analysis, exogeneity, causality, Bayesian perspective, general to specific modeling. Prerequisites: EC 531, 532.

Advanced monetary theory; institutions of the financial system and financial intermediaries, theory and policy relating to aggregate demand, employment and prices with special emphasis upon the role of the monetary and banking system.

Evaluation of the financial system; proposals for reforms; the financial system of Turkey; financial aspects of stabilization policy; the efficacy of monetary policy.

The fiscal organization of the Turkish economy, composition and trends in government revenues and public expenditures, the tax system, the budget process, parafiscal institutions, finances of state economic enterprises and other autonomous public entities.

Public goods theory; public choice theory; presence of external effects in consumption and production; interdependent utility functions and public goods; Pareto optimality and public goods and choice. Reorganization of production, consumption and distribution; collective decision making.

Nature and scope of public sector, externalities, monopolies and public revenue systems.

Positive theory of international trade, higher dimensional issues, imperfect competition, product differentiation, economies of scale and monopolistic competition, strategic trade policy uncertainty in trade models, testing models and predicting trade flows, income and price effects. Prerequisites: EC 361, 362.

Risk, portfolio equilibrium and exchange rates, representative agent models, intertemporal dimensions of international equilibrium. Efficiency tests, PPP and real interest rates, models of risk premium, the peso problem, empirical exchange rate models and volatility tests, empirical test based on Lucas approach.

Applications of strategic trade and industrial policy, limits of financial liberalization, exchange rate volatility and effects, macro economic and monetary coordination and cooperation, currency zones, economic and monetary union, short term and long term capital movements, debt management, current issues in the international trading system and the international monetary system. Prerequisites: EC 561, 562, 661.

The course consists in a survey of theory and history of economic development. Historical experiences of development in the modern era, different currents of analysis within the field of development, and current developments and recent theoretical advances in the field are among the main topics to be examined.

Topics in planning and development; policy oriented, currently debated issues and new ideas in development are particularly discussed. Topics recently covered in this course include stabilization policies, medium-term effects of stabilization policies and modeling short-term stabilization.

Continuation of EC 671.

Analysis of alternative systems of economic organization with respect to economic goals of growth, efficiency and the distribution of income. Case studies will be used to illustrate the workings and validity of the various theories.

Directed research and readings aiming at producing a substantial paper on a specific area of the demographic history of a European and/or Ottoman population. Prerequisites: EC 585 and Ottoman Paleography.

Bibliographical research and reading on a subject of interest to the student, or in preparation of a Ph.D. thesis.

Continuation of EC 691.

Advanced topics in economics at the research frontiers.