Courses

Finance function and finance manager; financial environment; financial analysis; financial planning and control; risk-return relationships; time value of money; bond and stock valuation; working capital management; cash, receivables and inventory management; short-term financing; capital budgeting; project cash flow analysis; capital budgeting for risky projects; cost of capital; capital structure; dividend; long-term financing; stock supply and investment banking; long-term borrowing; financial distress, bankruptcy and restructuring; introduction to international finance.

Supply and demand and the determination of market prices, elasticity of demand, markets and welfare. Firm's behavior and the organization of industry, perfectly competitive markets, monopoly, oligopoly and monopolistic competition. Economics of labour markets, the distribution of income. National income determination, measuring the cost of living, production and growth, trade-off between inflation and unemployment. Money and banking, international free trade vs. protectionism.

Basic data handling; correlation analysis; simple regression analysis; statistical inference in regression analysis; multiple regression; regression with dummy variables, distributed lag models; introduction to univariate time series analysis; regression with time series variables; time series methods in macroeconomics and finance; model specification issues; multiple equation models.

Financial assets; financial markets, globalization and derivatives markets; financial intermediaries and recent developments in financial markets; depository financial institutions; central banking and monetary policy; insurance companies; investment companies and pension funds; determination of financial asset prices and interest rates; general level and structure of interest rates; structure and working of primary and secondary markets; markets of government securities; private bonds market; stock markets; futures markets; options markets; swaps.

Empirical evidence on the effects of money; the demand for money; the supply of money; the static classical and Keynesian models; inflationary dynamics; alternative theories of inflation and unemployment; the government budget constraint; short-run monetary policy; the effectiveness of monetary policy in open economies under alternative exchange-rate regimes; the credit channel of monetary policy; time inconsistency of policy; monetary policy operating procedures; money and business cycles.

Multinational companies and importance of international financial management; international monetary system; balance of payments; foreign exchange markets; foreign exchange futures and foreign exchange options markets; basic parity conditions in international finance; exposure to foreign exchange risk, and foreign exchange risk; management of foreign exchange risk; forecasting of foreign exchange rates; international money and capital markets; international banking; interest rate and foreign currency credit swaps; financing of international trade; direct foreign investment; multinational capital budgeting; international working capital management.

This course covers advanced topics in microeconomics. These include monopoly, social cost of monopoly, regulating monopolies, price discrimination, normal form games, extensive form games, incomplete information games, oligopoly models, cooperative and non-cooperative bargaining, auctions, principal agent models, signaling games.

This course covers topics in the macroeconomic theory at an advanced analytical and formal level. The topics included are implications of uncertainty and of imperfections in labor, goods, and financial markets, imperfect competition, nominal and real rigidities, different Phillips curve theories, the consumption/saving decisions under uncertainty, issues in fiscal and monetary policy including open economy aspects, long-term dynamics of money, inflation, and interest rates, short-run business cycle fluctuations and stabilization policy, long run exogenous and endogenous growth theories, the determination of exchange rates, exchange rate regimes, capital flows and financial markets. Each topic is explained through making associations with orthodox Keynesian, monetarist, new classical macroeconomics, real business cycle theory, new Keynesian economics, Austrian economics and post-Keynesian economic thought schools.

This course covers theoretical foundations of finance. The topics include the theory of choice and utility under uncertainty, state preference theory, mean-variance portfolio theory, market equilibrium models, option pricing theory, the term structure of interest rates, efficient capital markets theory, information asymmetry and agency theories.

This course covers empirical research techniques and methodologies used in the predictability of stock returns, market microstructure models, short- and long-run event study analysis, trading strategies, ARCH /GARCH family of models, term structure models, nonlinear models, data-mining models, financial risk measurement models.

This course covers topics in the computational methods in applied mathematics and finance. The topics include introduction to programming environment, solving linear systems, zeros and root-finding methods, interpolation methods, least squares models and curve fitting, differential equations, ODE solvers, eigenvalue and singular value decomposition, polynomials, splines, and probability distributions

This course covers applications of financial theories. The topics include investment decisions under certainty, multiperiod capital budgeting under uncertainty and real options, performance measurement and incentive design, valuation and tax policy, capital structure and the cost of capital, dividend policy, acquisitions, divestitures, restructuring, and corporate governance, and other applied issues in corporate finance.

This course covers advanced topics in game theory and applications to markets. These include games in strategic form and Nash equilibrium, iterated strict dominance and rationalizability, extensive form games, subgame perfection, sequential equilibrium, repeated games, bayesian games. As applications to markets this course focus on, market structures, pricing theory, concentration, mergers and entry barriers, research and developments, economics of compatibility and standards, quality and durability, market regulations.

The concept of research, research philosophy, research ethics; importance and place of research in writing doctoral thesis and academic articles, research methods and basic concepts; literature review, content analysis, focus group technique; projective techniques and in-depth interview techniques from qualitative research methods; group work presentations on qualitative research methods; survey and experimental methods; use of questionnaire, preparation of questionnaire; scales and calculation of scale reliability; descriptive statistics and hypotheses; nonparametric hypothesis tests, intergroup difference tests (t-test types-anova); factor analysis; reliability and validity testing; correlation analysis - regression analysis.

This course covers advanced topics in the asset pricing theory. The topics include multiperiod consumption, portfolio choice, and asset pricing theories, multiperiod market equilibrium models, contingent claim pricing; including diffusion processes and Itô's lemma, dynamic hedging and PDE valuation, arbitrage, martingales, and pricing kernels, diffusion and jump processes, and asset pricing in continuous time

Empirical evidences suggest that the standard economic paradigm - rational agents in an efficient market - does not adequately describe behavior in financial markets. In this course, we will survey the evidence and use psychology to guide alternative theories of financial markets with an eye towards identifying frontiers and opportunities for new research. The topics include mental accounting and choice, self-control and intertemporal choice, fairness and assumptions of economics, overreaction of investors, security analysts, and stock markets, and experimental economics.

International monetary system, international financial crises, the newly industrialized countries, the changes in Turkey's foreign trade regime, the European Union and the world's other economic mergers

Science, social sciences and economics in general, types of scientific research, hypothesis, hypothesis testing, scientific law, deductive, deductive methods, hypothesis deductive, stages of research, internet resources, report writing, citation, scientific writing principles, plagiarism problem

Definition, identification, measurement of risk; Trends and development in risk management, legal aspects of risk management and insurance, commercial property and liability risks, insurance industry, insurance and marketing systems, insurance company operations, government regulations of insurance.

Definition and measurement of expected return and risk; financial assets; financial markets; sources of financial information; stock market indices and their calculation; valuation of financial assets; portfolio analysis; capital assets pricing model; arbitrage pricing model; bond valuation; term structure of interest rates; concepts of interest rate risk, default risk and inflation risk; valuation of common stocks; stock price movements and technical analysis; fundamental analysis; portfolio selection and management; measurement of portfolio performance; financial derivatives, and derivatives markets

Government spending and taxes, theory of optimal tax policy, dynamic fiscal policy, stabilization and growth. National income and government spending, balanced budget multiplier. Theory and practice of benefit-cost analysis and other similar techniques for evaluating investment projects. Sources of divergence between public and private investment decisions. Alternative ways of financing budget deficit, budget deficit and inflation. Privatization, internal and external debts.

Banker-Customer relationship, retail Banking, Pricing of deposits, managing float through liabilities, fee based services, corporate banking, general appraisal criteria, credit assessment, non-found based limits, consortium finance/loan syndication, financing international projects, financing smes, credit rating models in banks, loan pricing, credit disbursal and monitoring, international perspective, case studies, current developments

Price volatility, hedging, and the concept of financial engineering; risk profile, reducing risk exposure; hedging short and long term exposure; hedging with forward contracts; hedging with futures contracts; hedging with swap contracts; hedging with option contracts; option pricing models; creative use derivative securities; mathematical, statistical and spread-sheet applications.

Use of economic theory, mathematical economics and econometrics in business decision making; demand, production and costs; pricing under different market structures; decision making under uncertainty and risk; capital budgeting.

The seminar course offers a variety of subject options for doctoral students to write a thesis. In addition, students present their research methods required in writing their thesis and various tools necessary for research. In addition, it provides a scientific perspective and develops scientific thinking skills by examining, discussing and interpreting the analyzes in detail.

Regression analysis, test of significance of coefficients, multiple linear and nonlinear regression models, varying variance, testing of autocorrelation assumptions and estimation methods used when these problems exist, multiple linear dependence, modeling the trend, stationarity in time series, co-integration, seasonality modeling, unit root tests, stochastic trend, ARIMA models, volatility measurement models, ARCH and GARCH models