| Week | Subjects | Related Preperation |
| 1 |
Overview of the Turkish and the global economy in the 20th century: main trends of the business cycles; The import substitutionist industrialization era; planning for development; the class alliances and economic and political balances of the period |
Yeldan, Erinç (2001) Küreselleşme Sürecinde Türkiye Ekonomisi: Bölüşüm. Birikim. Büyüme, İstanbul: Iletişim Yay. Boratav, Korkut (1983) “Türkiye’de Popülizm, 1962-76” Yapıt, 46(1): 7-18. Duménil, G and D. Lévy (2006) “The Costs and Benefits of Neoliberalism: A Class Analysis” in Epstein Financialization and the Global Economy, Edward Elgar Press. Duménil, G and D. Lévy (2004) "The Real and Financial Components of Profitability (USA 1948-2000)", Review of Radical Political Economy, Vol. 36, pp. 82-110. Yeldan, Erinç (2009) “On the Nature and Causes of the Collapse of the Wealth of Nations, 2007/2008”, Journal of World Economy Review, 2009 Altuğ, S., A. Filiztekin and Ş. Pamuk. 2008. “Sources of long-term economic growth for Turkey, 1880-2005,” European Review of Economic History, 12, 393–430. |
| 2 |
The import substitutionist industrialization era continued; problems of the ISI regime; conflicts of the system, the 1977/79 crisis; the 1980 transformation |
Yeldan, Erinç (1995) “Surplus Creation and Extraction under Structural Adjustment: Turkey, 1980-1992” Review of Radical Political Economics, 27(2): 38-72, June. Boratav, Korkut, Oktar Türel ve Erinç Yeldan (1996) “Dilemmas of Structural Adjustment and Environmental Policies under Instability: Post-1980 Turkey” World Development, 24(2): 373-393. Öniş, Z. & F. Şenses. 2022. “Turkey’s Encounter with Neoliberal Globalization and the Logic of Washington Consensus, 1980–1990” in Özdemir, Y. & E. Özçelik (eds) Political Economy of Development in Turkey 1838 –Present. Öniş, Z. 2004. “Turgut Özal and his economic legacy: Turkish neo-liberalism in critical perspective,” Middle Eastern Studies, 40(4): 113-134. |
| 3 |
Patterns of growth, accumulation and distribution in the post-1980 Turkey; export promotion and structural deficiencies of export targets and industrial investments; the position of wage labour and capital; the changing role of the state |
Yeldan, Erinç (1995) “Surplus Creation and Extraction under Structural Adjustment: Turkey, 1980-1992” Review of Radical Political Economics, 27(2): 38-72, June. Boratav, Korkut, Oktar Türel ve Erinç Yeldan (1996) “Dilemmas of Structural Adjustment and Environmental Policies under Instability: Post-1980 Turkey” World Development, 24(2): 373-393. Öniş, Z. & F. Şenses. 2022. “Turkey’s Encounter with Neoliberal Globalization and the Logic of Washington Consensus, 1980–1990” in Özdemir, Y. & E. Özçelik (eds) Political Economy of Development in Turkey 1838 –Present. Öniş, Z. 2004. “Turgut Özal and his economic legacy: Turkish neo-liberalism in critical perspective,” Middle Eastern Studies, 40(4): 113-134. |
| 4 |
Exhaustion of 1980 trade reforms; the reform fatique; the “spring protests” of 1990/91; rise of the wage shock; evolution of mark ups; re-newed roles of the state and the SEE system. |
Yeldan A. Erinç (2022) “The Era of Speculation-Led Growth and the 2001 Crisis, 1990–2001”. In: Özçelik E., Özdemir Y. (eds) Political Economy of Development in Turkey. Palgrave Macmillan, Singapore. Yeldan 2001 Chapter 5 Boratav, Korkut ve Erinç Yeldan (2006). “Turkey, 1980-2000: Financial Liberalization, Macroeconomic (In)-Stability, And Patterns of Distribution” Chp14 (pp. 417-455) in Lance Taylor (ed.) External Liberalization in Asia, Post-Socialist Europe and Brazil, Oxford University Press. Boratav, Korkut, Erinç Yeldan ve Ahmet Köse (2002) “Globalization, Distribution and Social Policy: Turkey, 1980-1998” in L. Taylor (ed) External Liberalization and Social Policy, London and New York: Oxford University Press. Metin-Özcan, Kıvılcım, Ebru Voyvoda ve Erinç Yeldan (2000) “Dynamics of Macroeconomic Adjustment in A Globalized Developing Economy: Growth, Accumulation and Distribution, Turkey 1969-1998” Canadian Journal of Development Studies, 22(1): 217-253 Cizre-Sakallıoğlu, Ümit ve |
| 5 |
1990s: Rising fiscal deficits and public indebtedness, Ponzi finance; financialization and the Act No 32; completion of financial liberalization and open economy macroeconomics; Unregulated financial liberalization, 1990s; rise of the financial rentiers; hot money inflows and speculation; 1994 and 1998 crises; the 1997 Asia crisis; patterns of exchange rate and interest rate |
Diaz-Alejandro, Carlos F. (1985) “Good-Bye Financial Repression, Hello Financial Crash” Journal of Development Economics, 19(1-2): 1-24, February. Yeldan 2001: chapter 6 and 7 Ertuğrul A. ve Yeldan, E. (2003) “On the Structural Weaknesses of the Post-1999 Turkish Dis-inflation Program”, Turkish Studies Quarterly, 4(2): 53-67. Yeldan, E. (2002) ‘On the IMF-directed disinflation program in Turkey: A program for stabilization and austerity or a recipe for impoverishment and financial chaos?’ in N. Balkan and S. Savran (ed.s) The Ravages of Neo-Liberalism: Economy, Society and Gender in Turkey, New York: Nova Science Pub. Amadeo, (1996) “The Knife-Edge of Exchange Rate Based Stabilization Impacts on Growth, Employment and Wages” in UNCTAD Review, No 1. (Geneva, UNCTAD) |
| 6 |
The 2000 exchange rate based disinflation program; the analytical structure and the theoretical underpinnings of the program; evaluation of the monetary, fiscal and exchange rate policy; the November 2000 crisis |
Akyüz, Y. and Boratav, K. (2003) “The Making of the Turkish Crisis” World Development 31(9): 1549-1566. Alper, Emre and Öniş, Ziya (2003) “Emerging Market Crises and the IMF: Rethinking the Role of the IMF in the Light of Turkey's 2000-2001 Financial Crises”, Canadian Journal of Development Studies, 24(2): 255-272. Orhangazi, Ö. 2002. “Turkey: Bankruptcy of neoliberal policies and possibility of alternatives” Review of Radical Political Economics, 34(3): 335-341 Dufour, M. and Ö. Orhangazi. 2009. “The 2000-01 financial crisis in Turkey: a crisis for whom?” Review of Political Economy, 21(1): 101-122. |
| 7 |
The 2001 crisis and its structural causes; the Derviş period; “15 reforms in 15 days” and the “transition to strong economy program |
Bağımsız Sosyal Bilimciler (2008) 2008 Yol Ayırımında Türkiye, Yordam Kitap Bağımsız Sosyal Bilimciler (2006) IMF İle 10 uzun Yıl: Farklı Hükümetler, Tek Siyaset; Yordam Kitap. |
| 8 |
In Class Project Study |
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| 9 |
Post 2001 Structural adjustment mechanisms, the post 2001 IMF program and speculative led growth; inflation targeting and central bank independence; fiscal discipline and financial programming model of the IMF; the free floating exchange rate regime; the rise of the current account deficit and unemployment, Inflation targeting central banks |
Batini, Nicoletta, Peter Breuer, Kalpana Kochhar and Skott Roger (2006) “Inflation Targeting and the IMF” IMF Staff Paper, Washington DC, March. Berument, Hakan and Kamuran Malatyali (2000) “The Implicit Reaction Function of the Central Bank of the Republic of Turkey” Applied Economics Letters, 7:425-430. CBRT (December 2005), “The General Framework of Inflation Targeting Regime and Monetary and Exchange Policy in 2006” available on line at: www.tcmb.gov.tr. Özlale, Ümit and Erinç Yeldan (2004) “Measuring Exchange Rate Mis-alignment in Turkey” Applied Economics, 36: 1839-1849. 2004. Cizre, Ümit and Yeldan, A. Erinç (2005) “The Turkish Encounter with Neo-Liberalism: Economics and Politics in the 2000/2001 Crises” Review of International Political Economy, 12(3): 387-408, August. |
| 10 |
Trade balances and industrialization after the 2001 crisis |
Yeldan, Erinç (2006) “Neo-Liberal Global Remedies: From Speculative-led Growth to IMF-led Crisis in Turkey” Review of Radical Political Economics, 38(2), pp.193-213, Spring. FESSUD (2015) Turkey Report. |
| 11 |
After the Global Financial Crisis of 2009; neoliberalism re-thought; attempts to resolve secular stagnation and great recession; QE-Finance ; Turkey tries to re-adjust |
Mishkin, Frederic S. and Klaus Schmidt-Hebbel (2001) “One Decade of Inflation Targeting in the World: What Do We Know and What Do We Need to Know?” NBER Working Papers, No 8397, July. (www.nber.org/papers/w8397) Calvo G. and F. Mishkin (2003) “The Mirage of Exchange Rate Regimes for Emerging Market Countries” Journal of Economic Perspectives, 17(4): 99-118. Bonizzi Bruno, Annina Kaltenbrunner and Jeff Powell, (2019) “Subordinate Financialization in Emerging Capitalist Economies”, University of Greenwich, Greenwich Papers in Political Economy No GPERC69. Alami Ilias, Carolina Alves, Bruno Bonizzi, Annina Kaltenbrunner, Kai Koddenbrock, Ingrid Kvangraven & Jeff Powell (2022) International financial subordination: a critical research agenda, Review of International Political Economy, in print. DOI:10.1080/09692290.2022.2098359 Gabor, Daniela. 2020. “The Wall Street Consensus.” SocArxiv PapersJuly. Available at: https://osf.io/preprints/socarxiv/wab8m/ Yeldan, A. Erinç and Ünüvar, Burcu ( |
| 12 |
Turkey’s economy under the great recession -post 2009; new searches in central banking –the interest corridor; rise of the rentier economy; expansion via construction-driven credit-led growth; the presidential regime switch |
Orhangazi, Ö. and E. Yeldan. 2021. “The re-making of the Turkish Crisis” Development & Change, 52: 460-503. Şenses, Fikret (2012), “Turkey’s experience with neoliberal policies since 1980 in retrospect and prospect”, New Perspectives on Turkey 47: 11-31. Öniş,, Z. (2009), "Beyond the 2001 Financial crisis: The political economy of the new phase of neo-liberal restructuring in Turkey", Review of International Political Economy, 16(3): 409-432. Öniş, Ziya and Güven, Ali Burak (2011), “Global Crisis, National Responses: The Political Economy of Turkish Exceptionalism”, New Political Economy 16(5): 585-608. Öniş, Ziya. “The Triumph of Conservative Globalism: The Political Economy of the AKP Era,” Turkish Studies 13:2 (2012): 135-152. Pamuk, Ş. (2009). “Globalization, Industrialization and Changing Politics in Turkey”, New Perspectives on Turkey, 38. Buğra, A., & Savaşkan, O. (2012). “Politics and Class: The Turkish Business Environment in the Neoliberal Age”, New Perspectives on Turkey, |
| 13 |
The Evolving Climate Crisis and Turkey’s Environmental Score Card |
Turkey’s Official INDC, presented at the Paris 2015 COP meetings: https://www4.unfccc.int/sites/submissions/INDC/Published Documents/Turkey/1/The_INDC_of_TURKEY_v.15.19.30.pdf Acar, S. and Yeldan, E. (2018) “Environmental Impacts of Coal Subsidies in Turkey: A General Equilibrium Analysis”, Energy Policy, Volume 90, Pages 1-15. Şahin, Ümit (2016) “Warming A Frozen Policy: Challenges To Turkey’s Climate Politics After Paris”, Turkish Policy Quarterly, 15(2): 117-130. Orhangazi, Özgür & A. Erinç Yeldan (2023) “Turkey: Challenges and Strategies Towards Sustainable Development”, Country Report prepared for the Project, Integrated Policy Strategies and Regional Policy Coordination for Resilient, Green and Transformative Development, UNCTAD, Geneva. Voyvoda, Ebru and A. Erinç Yeldan (2015) Greening Turkish Economy: A General Equilibrium Investigation of Environmental Policies for A Low Carbon Growth Path” Report prepared for the Istanbul Policies Center and World Wild Foundation (WWF-Tu |
| 14 |
Review |
OECD (2014) Policy Challenges For the Next 50 Years, OECD Pub. Paris. Boratav, K. and Ö. Orhangazi. 2022. “Neoliberal Framework and External Dependency versus Political Priorities, 2009-2020) in E. Özçelik and Y. Özdemir (eds) Political Economy of Development in Turkey. pp. 287-314 Öniş, Z., & Kutlay, M. 2021. The anatomy of Turkey’s new heterodox crisis: the interplay of domestic politics and global dynamics. Turkish Studies, 22(4), 499–529. https://doi.org/10.1080/14683849.2020.1833723 Yeldan, A. Erinç (2022) “Capitalism in the Twenty-first Century: Lopsided Growth and Intensified Social Exclusion” Chapter 2 in V. Rawal, J. Ghosh and CP Chandrasekhar (eds) When Governments Fail? A Pandemic and Its Aftermath, Columbia University Press, February. |
At Kadir Has University, a Semester is 14 weeks; The weeks 15 and 16 are reserved for final exams.
THE RELATIONSHIP BETWEEN COURSE LEARNING OUTCOMES (LO) AND PROGRAM QUALIFICATIONS (PQ)
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Contribution: 1 Low, 2 Average, 3 High
