Computable General Equilibrium

INDIVIDUAL COURSE DESCRIPTION
COMPUTABLE GENERAL EQUILIBRIUM
Course Unit Title
Course Unit Code
Type of Course Unit
Elective
Level of Course Unit
E-LEARNING ECONOMICS WITHOUT THESIS E-MASTER PROGRAM
Number of
Allocated
5
ECTS Credits
Theoretical (hour/week)
3
Practice (hour/week)
-
Laboratory (hour/week)
-
Year of Study
2nd year
Semester when the course unit is
delivered
Fall /3rd semester
Name of Lecturer(s)
PROF. DR. METİN KARADAĞ
Mode of Delivery
Face – To - Face
Language of Instruction
Turkish
Prerequisities and co-requisities
None
Recommended
Optional
Programme Components
None
Work Placement(s)
None
Objectives of the Course
The aim of this lecture is to help students, to conceive of the difference of partial and general
equilibrum, to make up necessary economic models for country economy, to use this models
and to be able to suggest economic policies.
1- Explaining partial and general equilibrium concepts
2- Applications of general equilibrium models.
Learning Outcomes
Basic economic concepts, consumption-production, general equilibrium-partial equilibrium,
Edgeworth Box, Walras Law, Pareto optimality, general equilibrium on production, production
possibilities curve, marginal rate of transformation, first best and second best theory, general
equilibrium models and their weakness and vantage points, social account matrix, input-output
tables, designing computable general equilibrium models, correlating between general
equilibrium models and daily life, the role of general equilibrium models on making economic
policies.
Course Contents
Weekly Detailed
Contents
Course
TOPIC
Week
Theoretical Course Content
Application
1
Basic economic concepts, consumption-production,
equilibrium-partial equilibrium
general
2
Edgeworth Box, Walras Law, Pareto optimality, general
equilibrium on production, production possibilities curve,
marginal rate of transformation
Reading
3
first best and second best theory
Reading
4
general equilibrium models and their weakness and vantage
points.
Reading
5
general equilibrium models and their weakness and vantage points
Reading
6
social account matrix,
Reading
7
social account matrix
Reading
8
Midterm Exam
9
input-output tables
Reading
10
input-output tables.
Reading
11
designing computable general equilibrium models
Reading
12
designing computable general equilibrium models
Reading
13
correlating between general equilibrium models and daily life.
Reading
14
correlating between general equilibrium models and daily life
Reading
Reading
Recommended
Reading
or
15
the role of general equilibrium models on making economic
policies.
16
Final Exam
•
Required
•
•
•
•
•
•
Reading
Telli Ç., “Sosyal Hesaplar Matrisi Üretme Yöntemi ve Türkiye Uygulaması”, DPT,
2004
Ellickson, B., “Competitive Equilibrium”, Cambridge University Pres, 1993
Shoven J.B., Whalley J., “Applying General Equilibrium”, Cambridge University
Press.
Derviş K., “General Equilibrium Models Dor Development Policy”, 1982
Bergman L., “An Introduction to Computable General Equilibrium Modeling”, 2003
http://www.ictp.trieste.it/ ~eee/workshops/smr1533/smr1533.htm
Mas-Colell, A., “The Theory of General Economic Equilibrium”, Cambridge
University Press.
Starr, R., “General Equilibrium Theory : An Introduction”, Cambridge University Pres,
1997
ASSESSMENT
Term (or Year) Learning Activities
Weight, %
Contribution of Term (Year) Learning Activities to Success Grade
20
Contribution of Final Exam to Success Grade
80
100
TOTAL
Planned Learning Activities, Teaching Methods, Evaluation Methods and Student Workload
Activities
Quantity
Duration
(hour)
Total Work Load
(hour)
16
3
48
16
3
48
Homework Assignments
2
5
10
Mid-Terms
a)Exam
b) Student’s preparation
1
1
2
10
2
20
Final
a)Exam
b) Student’s preparation
1
2
2
2
2
20
Course hours
Lab
Application
Special Course Internship
Field Work
Study hours out of class
Presentations/ Seminar
Project
TOTAL
150
ECTS Credits
Learning
Outcomes
LO1
LO2
150/30=5 ECTS
PO
1
1
PO
2
PO
3
PO
4
PO
5
PO
6
PO
7
PO
8
PO
9
PO
10
PO
11
PO
12
PO
13
PO
14
PO
15
5
5
2
5
5
3
3
5
5
2
5
5
3
3
PO
16