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Bilkent University

Online Academic Catalog

Undergraduate and Graduate Programs 2024-2025


ECONOMICS

Kemal Yıldız, Ph.D., Chair

Academic Staff
Part-time Academic Staff
Courses

Economics is the study of the behavior of economic units, institutions and systems and the choices that they make with respect to the allocation of scarce resources between production and consumption. It is concerned with a wide range of problems that directly affect society: the causes of unemployment and inflation, productivity and economic growth, foreign debt and trade links, and the role of government in market economies.

UNDERGRADUATE PROGRAM

The program leading to the Bachelor's degree in Economics combines training in technical economics with opportunities for a broad and balanced undergraduate education. The program aims to give the students a solid grounding in modern economic theory and accompanying skills necessary for independent and critical thinking which will allow them to acquire an understanding of the Turkish and the world economy. The aim is achieved through a flexible curriculum which is structured to provide the basic social science and quantitative toolbox necessary for all economists in the first two years, followed by elective requirements which students can choose courses geared toward a field that the student would like to excel in. Students can choose to excel in all general economics fields including academic economics which aims to prepare students for a highly quantitative graduate study, macroeconomics which emphasizes topics about the workings of the macroeconomy such as monetary and international economics, microeconomics which focuses on the decision making of individuals and firms in depth, managerial economics which captures the synergy issues between management and economics, or any combination of the fields listed. Besides electives requirements geared toward the fields listed, students are required to take a range of free electives so that they become well-rounded social scientists and furthermore well rounded university graduates.

CURRICULUM

FIRST YEAR

Autumn Semester

Code Course Name Hours Credit ECTS
Credit
Lec. Other
CS 125  Introduction to Data Analysis for Social Sciences  2  2  3  5
ECON 101  Introduction to Economics I  4    4  6.5
ENG 101  English and Composition I  5    3  5
GE 100  Orientation      1  2
MATH 105  Introduction to Calculus I  4    4  6.5
TURK 101  Turkish I      2  3.5
  100 Level Social Science Elective      3  -

Spring Semester

Code Course Name Hours Credit ECTS
Credit
Lec. Other
ECON 102  Introduction to Economics II  4    4  6.5
ENG 102  English and Composition II  5    3  5
MATH 106  Introduction to Calculus II  4    4  6.5
TURK 102  Turkish II      2  3.5
  Arts Core Elective      3  -
  Unrestricted Elective      3  -

SECOND YEAR

Autumn Semester

Code Course Name Hours Credit ECTS
Credit
Lec. Other
ECON 203  Microeconomic Theory I  3    3  5
ECON 205  Macroeconomic Theory I  3    3  5
ECON 221  Introduction to Probability and Statistics I  3    3  5
ECON 225  Mathematics for Economists  3    3  5
GE 250  Collegiate Activities Program I      -  1
  Unrestricted Elective      3  -

Spring Semester

Code Course Name Hours Credit ECTS
Credit
Lec. Other
ECON 204  Microeconomic Theory II  3    3  5
ECON 206  Macroeconomic Theory II  3    3  5
ECON 222  Introduction to Probability and Statistics II  3    3  5
GE 251  Collegiate Activities Program II      1  2
HIST 200  History of Turkey  3    4  6.5
  Humanities Core Elective      3  -
  Unrestricted Elective      3  -

THIRD YEAR

Autumn Semester

Code Course Name Hours Credit ECTS
Credit
Lec. Other
ECON 301  Econometrics I  4    4  6.5
ECON 363  History of Economic Thought  3    3  5
PHIL 243  Social and Political Philosophy I  3    6  8.5
  Economics Elective      3  -
  Unrestricted Elective      3  -

Spring Semester

Code Course Name Hours Credit ECTS
Credit
Lec. Other
PHIL 244  Social and Political Philosophy II  3    6  8.5
  Economics Electives (2)      6  -
  Science Core Elective      3  -
  Unrestricted Elective      3  -

FOURTH YEAR

Autumn Semester

Code Course Name Hours Credit ECTS
Credit
Lec. Other
ECON 399  Summer Training      -  9
GE 400  Transdisciplinary Senior Project  4    6  8.5
  Economics Elective      3  -
  Restricted Elective      3  -
  Unrestricted Elective      3  -

Spring Semester

Code Course Name Hours Credit ECTS
Credit
Lec. Other
  Economics Electives (2)      6  -
  Restricted Electives (3)      9  -

ELECTIVE REQUIREMENTS

Regardless of the track a student has chosen, the elective composition of each student should adhere to the following quotas:

  1. One 100 level social science elective.
  2. Seven restricted electives.
  3. Six unrestricted electives.
  4. Six Economics electives.
  5. One Arts Core Elective.
  6. One Humanities Core Elective
  7. One Science Core Elective

GRADUATE PROGRAM

Graduate programs in economics aim to train students to enable them to carry out independent research. For this purpose, the programs are designed to ensure that the students get a solid background in both economic theory and the techniques used in empirical research. While the Department offers both M.A. and Ph.D. degrees, the M.A. degree is considered, in principle, as an intermediate step that is passed en route to the Ph.D. The core requirements common to both programs leave little room for choosing the courses to be taken in the first year, but the students are offered considerable flexibility as to their choice of the fields of specialization later on.

Students admitted to graduate studies in the department are expected to have a strong background in undergraduate level economics and some training in mathematics and statistics. Sufficient (though not necessarily a pre-condition) background would consist of an undergraduate degree in Economics, a year-long calculus sequence that includes multivariate analysis, a course in linear algebra, and a course in probability and statistics. (Also refer to the ``Graduate Admissions'' section in the introduction of this catalog for the general graduate admission requirements.)

Master of Arts in Economics

The curriculum aims to prepare the students toward a Ph.D. degree. However, elective courses and a thesis study in the 2nd year gives the students the opportunity to over take practical training, preparing them for jobs in the government or private sector.

Prospective students must have completed Bilkent University's requirements for a Bachelor of Arts degree in Economics or approximately equivalent training. Since students will be required to take the same courses as the Ph.D. candidates, similar preparation in mathematics and statistics is generally expected. Degree requirements for Master of Arts in Economics are:

  1. The core curriculum for Master of Arts in Economics degree must be successfully completed. The courses in the core curriculum for Master of Arts in Economics include Microeconomic Theory (ECON 503-504), Macroeconomic Theory (ECON 505-506), Mathematics for Economists (ECON 515-516), Probability and Statistics (ECON 509-510), Research Paper (ECON 595-596) sequences, two elective sequences, and Pro-Thesis Seminar (ECON 590) and the Master's Thesis (ECON 599) courses.
  2. A Master's thesis must be submitted and successfully defended.
  3. A grade point average of at least 3.00 from the curriculum requirement courses, is also required for graduation.

CURRICULUM

Courses

Code Course Name Hours Credit ECTS
Credit
Lec. Other
ECON 503  Microeconomic Theory I  3  1  3  5
ECON 504  Microeconomic Theory II  3    3  5
ECON 505  Macroeconomic Theory I  3  1  3  5
ECON 506  Macroeconomic Theory II  3    3  5
ECON 591  Masters Pre-Thesis Seminar I      -  1
ECON 592  Masters Pre-Thesis Seminar II      -  1
ECON 595  Research Paper I      -  1
ECON 596  Research Paper II      -  1
ECON 599  Master's Thesis      -  53
GE 500  Research Methods and Academic Publication Ethics      -  1
GE 590  Academic Practices      -  12
  Electives (2)      6  -
  Restricted Electives (4)      12  -

Doctor of Philosophy in Economics

The Ph.D. program in economics is a program requiring the attainment of scientific competence in conformity with international scientific standards. Admission to the doctoral program is by written application and an evaluation by the department. It is expected that admitted students will be adequately prepared in calculus, linear algebra, and statistics. (Also refer to the "Graduate Admissions" section in the introduction of this catalog for the general graduate admission requirements.)

All students take a common core curriculum at the outset and later branch out in the desired fields of specialization. Well-prepared students should anticipate spending approximately two years in course work and another two years in seminars, independent study, and dissertation research. While exceptional progress may make a three-year program feasible, some types of research programs will require at least five years to complete.

A candidate for the Ph.D. degree must:

  1. Successfully complete the core curriculum for PhD degree in Economics. The courses in the core curriculum for PhD degree in Economics include the graduate level Microeconomic Theory (ECON 503-504), Macroeconomic Theory (ECON 505-506), Mathematics for Economists (ECON 515-516), Probability and Statistics (ECON 509-510), Research Paper (ECON 595-596) sequences and Pre-Thesis Seminars (ECON 591-592-691-692), Research Methods and Academic Publication Ethics (GE 500), Academic Practices (GE 690), Research Methods in Economics I and II (ECON 695-696) and the PhD Dissertation (ECON 699) courses.
  2. In addition to the courses above, successfully complete 6 elective courses (at least 3 credit courses). These courses have to be graduate level courses. Some graduate courses offered by other departments may be counted towards this requirement.
  3. Show competence in two comprehensive field examinations - one written and one oral, within the first five semesters after being admitted to the PhD program.
  4. Submit a detailed thesis proposal while taking the ECON 699 course and give a seminar on this work.
  5. A paper based on the candidate's thesis must be accepted or published in a reputable journal before the dissertation can be defended.
  6. Submit and successfully defend a dissertation that represents a contribution to knowledge in the field.

Candidates must be in residence for a minimum of three years including the period spent on the Master of Arts program.

CURRICULUM

Courses

Code Course Name Hours Credit ECTS
Credit
Lec. Other
ECON 691  Ph.D. Pre-Thesis Seminar I      -  1
ECON 692  Ph.D. Pre-Thesis Seminar II      -  1
ECON 695  Research Methods in Economics I      3  5
ECON 696  Research Methods in Economics II      3  5
ECON 699  Ph.D. Dissertation      -  173
GE 500  Research Methods and Academic Publication Ethics      -  1
GE 690  Academic Practices      -  24
  Electives (6)      18  -

During each semester of the second year at least three credit units of electives must be taken. The Ph.D. candidate may also take elective courses for credit in the third and fourth years of study. These electives may include courses from other departments or institutions as well as courses offered by the Department. There is no upper or lower limit on the number of such courses.


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