EEH618 - CENTRAL BANKING and PRACTICE IN TURKISH LAW

Course Name Code Semester Theory
(hours/week)		 Application
(hours/week)		 Credit ECTS
CENTRAL BANKING and PRACTICE IN TURKISH LAW EEH618 2nd Semester 3 0 3 7
Prequisitesnone
Course languageTurkish
Course typeElective 
Mode of DeliveryFace-to-Face 
Learning and teaching strategiesLecture
Discussion
 
Instructor (s)KürÅŸad Arat 
Course objectiveThe aim of the course is to provide understanding about the functions, duties and responsibilities of the Central Banks, the problems faced in coordinating and or orienting with other macroeconomic policies. The issues will be discussed from a historical and practical implementation perspective in the context of the Central Bank of the Republic of Turkey.  
Learning outcomes
  1. In this course, the student, 1- Learns *The duties and responsibilities of the central banks *Monetary transmission mechanisms
  2. *Payment systems *Central Bank-Government relations *Concepts such as independence, accountability, credibility, and transparency in the context of central banking
  3. *Macro-prudential measures and policies *Central Bank balance sheet *Exchange rate regimes and policies *Foreign exchange risk and reserve management at the central banks
  4. 2- Finds out the interconnections and relations of monetary policies with other policies and central banks with other governmental agencies. 3- Identifies differences between price and financial stability
  5. 4- Analyses Monetary Policy in Turkey under different capital account regimes/ legislations 5- Analyses the possible monetary policy responses to the energy shocks 6- Analyses the effects of monetary conditions in the financing of (energy ) projects
Course ContentIn this course the general principles of central banking (therefore the monetary policy) the issue of coordination of monetary policy among fiscal, financial stability and investment policies and the role of monetary policy in price setting behaviours will be discussed.  
ReferencesCentral Bank Governor Game: http://www.frbsf.org/education/activities/chairman/index.html
Payment Systems: Payment Systems at the Central Bank of the Republic of Turkey
http://www.tcmb.gov.tr/
The Balance Sheet of the Central Bank of the Republic of Turkey , Ratios, Explanations, and Monetary Policy Reflections, 2006
http://www.tcmb.gov.tr/yeni/evds/yayin/kitaplar/tcmbbilancokitabi.pdf
Independence and the Central Bank of the Republic of Turkey http://www.tcmb.gov.tr/yeni/evds/yayin/kitaplar/Bagimsizlik2013.pdf
Introduction to Monetary Policy; Glen Hogarth, Center for Central Banking Studies, Bank of England (Hand Books in Central Banking)
http://www.bankofengland.co.uk/education/Documents/ccbs/handbooks/pdf/ccbshb01.pdf
Introduction to Monetary Operations; Gray, Hogarth and Place, Center for Central Banking Studies, Bank of England (Hand Books in Central Banking)
http://www.bankofengland.co.uk/education/Documents/ccbs/handbooks/pdf/ccbshb24.pdf 

Course outline weekly

WeeksTopics
Week 1Duties and Responsibilities of Central Banks in Turkish Law
Week 2Monetary Operations and OMO?s-1
Week 3Monetary Operations and OMO?s-2
Week 4New Monetary Policy Framework of the Central Bank of the Republic of Turkey
Week 5Exchange Rate Regimes and Policy Choices
Week 6Foreign Exchange Risk and Reserve Management at Central Banks
Week 7Macro-prudential Measures and Policies
Week 8Invited Speaker-I
Week 9Midterm Exam
Week 10Central Bank Balance Sheet
Week 11Payment Systems
Week 12Financial Stability
Week 13Monetary Policy in Turkey Under Different Capital Account Legislations/Regimes
Week 14Case Study Presentations-1 or Invited Speaker- II
Week 15Case Study Presentations-2
Week 16Final Exam

Assesment methods

Course activitiesNumberPercentage
Attendance15
Laboratory00
Application00
Field activities00
Specific practical training00
Assignments110
Presentation15
Project00
Seminar00
Midterms130
Final exam150
Total100
Percentage of semester activities contributing grade succes450
Percentage of final exam contributing grade succes150
Total100

WORKLOAD AND ECTS CALCULATION

Activities Number Duration (hour) Total Work Load
Course Duration (x14) 14 3 42
Laboratory 0 0 0
Application000
Specific practical training000
Field activities000
Study Hours Out of Class (Preliminary work, reinforcement, ect)14228
Presentation / Seminar Preparation15050
Project000
Homework assignment000
Midterms (Study duration)14040
Final Exam (Study duration) 15050
Total Workload31145210

Matrix Of The Course Learning Outcomes Versus Program Outcomes

D.9. Key Learning OutcomesContrubition level*
12345
1. Has the ability to access to sources of information, use, compare, interpret, infer and apply scientific data.   X 
2. Has the knowledge on science of law and legal systems and the historical development of the rights of individuals and societies and the basic texts adopted in that process, and has the historical knowledge to interpret the achievements of modern law.   X 
3. Has the ability to use Turkish in both oral and written forms.   X 
4. Masters the provisions regulating the relationships between persons and has the ability to interpret those provisions.    X
5. Masters the provisions regulating the relationships between persons and the state and has the ability to interpret those provisions.    X
6. Has the ability to use information technologies and course materials in the process of teaching and learning.  X  
7. Has the ability to solve current legal problems in the framework of modern legal approaches.  X  
8. Has a level of understanding and knowledge of the profession in order to reflect all of the features required by the profession in the best possible way at national and international levels.   X 
9. Masters the legal regulations and practices on economic and financial mechanisms.    X
10. Has the ability to be able to express herself/himself as an individual and in front of a community.    X
11. Has the ability to use, compare and apply the knowledge of universal law.    X
12. Has the ability to follow legal developments that aim to meet emerging needs within the framework of relations between individuals.   X 
13. Has the ability to work together, gained through in-class activities, hypothetical case studies, moot court and through other professional and academic activities.  X  
14. Has the ability to understand and process national and international dimensions of law by following the case law and legal practices.  X  

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest