Program Overview and Objectives
The MA program in Economics at Koç University is envisioned as a bridge to a career in Economics.
KU-MA-Econ is a two-year program with a thesis requirement that aims to establish a solid foundation in economic theory and econometrics directed to rigorous applications. The first year of the program is built around core courses in Micro- and Macroeconomics, and Econometrics. The second year gives the students the flexibility to take application oriented advanced courses in their fields of interest. Students are expected to participate in seminars, and will work towards a Master's thesis that will constitute a significant academic achievement.
KU-MA-Econ program will serve two goals. With its emphasis on highly marketable, applied research skills, the curriculum provides preparation for careers as an Economist in administration and research in government, business, and private non-profit organizations. With its rigorous mathematical approach it will also be an excellent preparation for continued graduate study (PhD) in Economics.
The Economics faculty at Koç University has a solid reputation as contributors to the frontiers of knowledge in Turkey and abroad. Despite its small size, the department shows up regularly in quality-adjusted international rankings. The faculty view MA students as potential collaborators in their efforts to broaden the reach of their research, in particular by livening up debates on economic policy. Students will have the opportunity to work closely with faculty immediately after joining the program. The Economics department invites applications from highly motivated students with strong analytical training regardless of background.
Program Outline 1st Year (21 credits)
Pre-Fall Term
ECON 500 - Mathematical and Statistical Foundations (non-credit)
All courses are for 3 credits except when indicated.
Fall Term
ECON 501 Mathematics for Economists
ECON 503 Microeconomics I
ECON 507 Macroeconomics I
ECON 511 Econometrics I
Spring Term
ECON 504 Microeconomics II
ECON 508 Macroeconomics II
ECON 512 Econometrics II
2nd Year (6 credits)
2 of the following electives:
ECON 530 - Economics of Information and Contracts
ECON 532 - Experimental Economics
ECON 580 - The Economics of Institutions
ECON 505 - Topics in Microeconomics
ECON 509 - Topics in Macroeconomics
ECON 513 - Topics in Econometrics
ECON 550 - Topics in Economics **
** “Topics” may be taught in the form of 7 week modules.
Approved courses from other graduate programs may be substituted as electives.
In addition, students must enroll in ECON 591 Seminar in Economics in Fall, ECON 592 Seminar in Economics in Spring, and ECON 595 MA Thesis in Spring. These are non-credit courses.All M.A. students must take ENGL 500: Graduate Writing (3 credits) course.
Course Descriptions
ECON 500-Mathematical and Statistical Foundations (non-credit, pre-fall Term 1st Year)
To facilitate a swift transition from undergraduate to graduate training, the mathematical foundation that all students should have before starting the MA courses is reviewed in a three-week long intensive course. Class meets every other day (three times per week) during the first three weeks of the four week period that precedes the Fall Term. There are two 75 min. classes per day. Three classes are devoted to evaluation (written exams). There is one week before students start the Fall semester.
ECON 501 Mathematics for Economists
Covers selected topics in mathematics that are frequently used in the economic theory and its applications. Topics include: introduction to optimization theory (existence of a solution, alternative characterization of compactness, Weirestrass Theorem, convexity); convex sets, concave and quasi-concave functions; characterization of a solution, Lagrange and Kuhn-Tucker approaches; parametric continuity, correspondences and maximum theorem; parametric monotonicity, lattices, supermodularity; fixed point theorems.
ECON 503 Microeconomics I
Consumer theory; production theory; general equilibrium and welfare.
ECON 504 Microeconomics II
Choice under uncertainty; game theory; mechanism design; principal-agent models.
ECON 505 Topics in Microeconomics
Focus is on applications that address microeconomic problems. Topics will be announced before the semester.
ECON 507 Macroeconomics I
Long-term economic growth; overlapping generations models; consumption, saving, and investment; real interest rates and asset prices; money and inflation.
ECON 508 Macroeconomics II
Classical and Keynesian theories of cyclical fluctuations; real business cycle theory; determination of employment and real wages; credit markets and financial stability; stabilization policy.
ECON 509 Topics in Macroeconomics
Focus is on applications that address macroeconomic problems. Topics will be announced before the semester.
ECON 511 Econometrics I
Review of probability and statistics: random variables, univariate and joint probability distributions, expectations; bivariate normal; sampling distributions; introduction to asymptotic theory; estimation; inference. Linear regression: conditional expectation function; multiple regression; classical regression model, inference and applications.
ECON 512 Econometrics II
Departures from the standard assumptions: specification tests; a first look at time series; generalized regression; nonlinear regression; simultaneous equations, identification, instrumental variables. Extensions and applications: ML, GMM, VAR, GARCH, panel data.
ECON 513 Topics in Econometrics
Focus is on econometric applications which address both micro- or macroeconomic problems. Students will acquire proficiency with standard econometric software. Topics will be announced before the semester.
ECON 530 - Economics of Information and Contracts
This course analyzes problems created by informational asymmetries between agents and how properly designed contracts could ameliorate those problems. Topics covered will include adverse selection, screening, signaling, and moral hazard, as well as various applications to insurance, labor, and credit markets; auctions; and corporate finance.
ECON 532 - Experimental Economics
This course aims to introduce students to the use of experiments in analyzing economic behavior. The course will teach the fundamentals of designing a good economic experiment, and discuss economic theories and issues through the lens of laboratory and field experiments. Topics will include decision-making under risk and uncertainty, market experiments, bargaining and fairness, incentive schemes, public goods experiments, gender and decision-making.
ECON 550 Topics in Economics
Focus is on applications which build on a broad foundation, requiring elements of both micro- and macroeconomics. Topics will be announced before the semester.
ECON 580 - The Economics of Institutions
This course will examine the role played by institutions and political economy considerations in determining overall economic performance. The course aims to describe the role and evolution of institutions in economic growth, to understand basic models of politics, and to provide an introduction to the dynamic effects of fiscal and monetary policy. By the end of the course, students should be able to understand the role of institutional failure, models of governance and mis-governance, optimal fiscal policy, and the concepts of reputation, credibility, and time inconsistency
ECON 591-2 Seminar in Economics (non credit)
Participation in weekly seminar is required.,
ENGL 500 Graduata Writing (3 credits)
This is a writing course specifically designed to improve academic writing skills as well as critical reading and thinking. The course objectives will be met through extensive reading, writing and discussion both in and out of class. Student performance will be assessed and graded by Satisfactory/Unsatisfactory
ECON 595-6 MA Thesis (non credit)
Supervised individual research.
Faculty
- Cevdet AKÇAY
Applied Macroeconomic Theory, Financial Economics, Economic Policy
- Sumru ALTUĞ
Macroeconomic Theory, Finance Theory, Structural Econometrics
- Erhan ARTUÇ
Applied Microeconomics, International Trade, Labor Economics, and Computational Methods
- Selva DEMİRALP
Monetary Economics, Financial Economics, Time Series Econometrics
- Seda ERTAÇ
Applied Microeconomic Theory, Economics of Information and Organizations, Experimental Economics, Psychology and Economics
- Emmanuele GERRATANA
Microeconomic Theory, Game Theory, Principal-Agent Theory, Theoretical Applications to the Labor Market
- Levent KOÇKESEN
Microeconomic Theory, Game Theory, Bargaining Theory
- Sinan SARPÇA
Public Finance, Education, Labor Economics, Computational Economics and Econometrics
- İnsan TUNALI
Microeconometrics, Labor Economics, Population Economics
- Murat USMAN
Applied Game Theory, Law and Economics, Industrial Organization
- Kamil YILMAZ
International Trade and Finance, Macroeconomics, Political Economy
- Kuzey YILMAZ
Education, Public Finance, Econometrics
- Özgür YILMAZ
Microeconomic Theory, Mechanism Design, Game Theory
- Tolga YÜRET
Industrial Organization, Development Economics, Education
Preference Submission Form
Application Procedure
Admission Requirements
- Official transcript (required)
- TOEFL (required)
- New Internet Based: Minimum Score 80
- Computer Based: Minimum Score 213
- Paper Based: Minimum Score 550
- ALES (required)
- GRE (strongly recommended)
- Two letters of reference (required)
- Statement of Purpose (required)
- Completed Application Form
- Bank receipt of the application fee 35 YTL (payable to Yapı Kredi Bankası Koç Üniversitesi Şubesi 386235 'Ekonomi Yüksek Lisans Başvuru Ücreti'
Preferably all the material should be sent together, to the address given on the Application form. Letters of reference may be sent electronically to the contact person identified on the Application Form.