PhD in Economics (English)

PhD in Economics (in English)

The scope of modern economic theory covers a wide range including the analysis of the economic behavior of individuals and firms as well as countries and international institutions. With the fast developments in the information technology sector beginning in 1990’s, the economic behavior of all agents has become a phenomenon that needs to be analyzed at the global level. Despite a resurrection of the impact of nationalist views on the economic behavior of countries, globalization is still an important ongoing issue. Thus, the analysis of the developments in the goods, labor and financial markets as well as the interaction among them , from a scientific point of view is essential for developing policies at country or global level.

PhD program at Ibn Haldun University invites students from different educational background and aims to build skills that will help them understand and analyze the economic issues and bring policy solutions to them. During the coursework period, students will have the option to choose from a wide range of elective courses according to their areas of interest besides the compulsory economics courses. The dissertation period that follows the coursework will provide them with the opportunity to apply their knowledge to contemporary issues in the field of economics from a theoretical and practical point of view. English being the language of PhD education in economics, gives the students the prestigious job opportunities not only within Turkey but also across the globe.

Program Coordinator:

Prof. Dr. Fuat Erdal

Mission of the Program:

In line with the vision of Ibn Haldun University’s vision, the mission of economics PhD program is to train individuals and equip them with skills that will meet the needs of the academia, private sector, and policy institutions across the globe. The PhD program aims to enhance the research in the field of economics, obtain valuable academic? output at the national and international level, and educate economists who have the capacity to analyse national or international economic issues and develop solutions to them.


The target of the program is to train individuals who,

  • can apply the concepts and theories of economics effectively to contemporary problems and bring solutions to these issues.
  • is strongly preffered at prestigious positions in academia, private and public sector and international institutions due to the valuable knowledge accumulated and the expertise gained with elective courses and the dissertation work
  • have a broad view of economics and strong analytical capabilities
  • can contribute to the progress of different tasks at work, take effective roles in team work, and have leadership skills.

1st Semester
Code Course Name Theory Practice Credit ECTS
ECON 601 Advanced Microeconomics 3 0 3 8
ECON 603 Advanced Research Methods 3 0 3 8
ECON … Elective 3 0 3 8
ECON … Elective 3 0 3 8
Total 12 32
2nd Semester
Code Course Name Theory Practice Credit ECTS
ECON 602 Advanced Macroeconomics 3 0 3 8
ECON 604 Advanced  Econometrics 3 0 3 8
ECON … Elective 3 0 3 8
ECON … Elective 3 0 3 8
Total 12 32
3rd Semester
Code Course Name Theory Practice Credit ECTS
ECON 697 PhD Proficiency Course 0 0 0 45
ECON 600 Seminar 0 0 0 15
Total 0 60
4th Semester
Code Course Name Theory Practice Credit ECTS
ECON 699 PhD Thesis 0 0 0 60
Total 0 60
3rd & 4th Year
Code Course Name Theory Practice Credit ECTS
ECON 699 PhD Thesis 0 0 0 60
Total 0 60
Grand Total 24 244
Code Course Name Theory Practice Credit ECTS
ECON 510 International Economics 3 0 3 7.5
ECON 511 Inovation Economics 3 0 3 7.5
ECON 512 Game Theory 3 0 3 7.5
ECON 513 Monetary Economics 3 0 3 7.5
ECON 514 Industrial Economics 3 0 3 7.5
ECON 515 Energy Economics 3 0 3 7.5
ECON 516 Public Economics 3 0 3 7.5
ECON 517 Time Series Economics 3 0 3 7.5
ECON 518 Panel Data and Cross Section Models 3 0 3 7.5
ECON 519 Environmental Economics 3 0 3 7.5
ECON 520 Development Economics 3 0 3 7.5
ECON 521 Transport Economics 3 0 3 7.5
ECON 522 Real Estate and Urban Economics 3 0 3 7.5
ECON 523 Islamic Economics and Finance 3 0 3 7.5
ECON 524 Labor Economics 3 0 3 7.5
ECON 525 History of Economic Thought 3 0 3 7.5
ECON 526 Law and Economics 3 0 3 7.5
ECON 545 Current Issues in Turkish Economics 3 0 3 7.5
ECON 546 Economic History of Modern Turkey 3 0 3 7.5
ECON 550 Special Topics in Economics 3 0 3 7.5

ECON 601 Advanced Microeconomics

The aim of this course is to provide students an ability to command of the basic concepts, theories and applications of microeconomics and to apply this knowledge to practical problems. For this purpose, first of all, under the topic of individual decision; consumer theories, demand theory, production theory and uncertainty will be discussed. The course will continue with the examination of issues such as information asymmetry, reverse selection, principal-agent problem which provide the markets to operate effectively. Continuing with game theory, this course will end with analysis of Pareto optimality, Walrasian equilibrium and general equilibrium. 

ECON 602 Advanced Macroeconomics

This course will start with the definition of the main topics of macroeconomics within the framework of different economic schools and then continue with endogenous growth model such as Solow. Afterwards, topics such as dynamic aggregate demand and aggregate supply, IS-LM models, monetary and fiscal policies, investment and consumption decisions, macroeconomic decisions in open economies will be explained in more detail in terms of the functioning of money and foreign exchange markets and methods of struggling against inflation in an open economy.

ECON 603 Advanced Research Methods

In this course, students will be able to distinguish between the use of these techniques and models and the ability to interpret the results obtained by considering advanced research methods, analysis techniques and models used in the field of economics. In this direction, topics suh as classical linear regression, generalized least squares (GLS) estimation, instrumental variable (IV) estimation, maximum likelihood (ML) estimation, asymptotic test procedure will be investigated and the generalized method of moments (GMM) estimation, nonlinear least squares (NLS) estimation; basic concepts of asymptotic theory; asymptotics for integrated processes; model selection; AIC, SBC; trend- and difference-stationary time series models; tools for unit root econometrics will be analyzed. 

ECON 604 Advanced Econometrics

Theoretical and practical studies on basic econometric tests, models and techniques will be carried out in this course designed for the purpose of acquiring advanced econometric analysis skills. In this context; Autoregressive Moving Average (ARMA) models and stationarity; estimation of autoregressive distributed lag (ARDL) models; residual based tests for cointegration; Estimation of  Vector Autoregressive (VAR) models will be worked on. Additionally, the topics such as modeling discrete choice; Least Squares Dummy Variable approach and discrete choice methods in pane data; limited dependent variable models; parametric and nonparametric duration and survival analysis; measurement errors in panel data models will be examined. 

Elective Courses

ECON 510 International Economics

In this course, students will learn about the mechanism of international economic and commercial activities, the main reasons for the emergence of these relations, and the main theories trying to explain these relations. It will also touch upon the economic policies developed to make international economic activities and trade more effective and to develop them, the factors that determine foreign exchange prices, the basic components of balance-of-payments balance, the factors determining foreign trade, basic shapes and determinants of capital flows between countries and how globalization affects the international economy.

ECON 511 Innovation Economics

This course mainly analyzes the relationship between economic development and knowledge-based economic structure and the impact of innovation on competitiveness. The role of creativity in the process of achieving sustainable competitive advantage is analyzed by examples from individuals, companies and countries. In addition, current applications and case studies are addressed, using global data clusters, in which the theoretical models of research and development, intellectual property rights and patent economics are passed on to the students through the innovation indicators.

ECON 512 Game Theory

This course, which based on the game theory frequently used in economic theory applications, will provide basic information about games under different assumptions and their equilibrium conditions. In this context, normal and consecutive games in which there is no co-operation between the participants will be explained on the basis of whether participants have complete and perfect knowledge of the competitions and conditions of the game. How these games are used in economic theory and applications will be addressed through examples. Further topics such as experimental game theory and Markov-perfect equilibrium will also be discussed.

ECON 513 Monetary Economics

In this course, we will focus primarily on the fundamental functions of money in an economy and the factors that affect money demand. Then, the issues such as money supply, the basic components of monetary policy, the role of central banks in the economy, and the process of determining policy and market interest rates will be discussed. Different concepts and models of the monetary transmission mechanisms used to explain the real economy effect of monetary policy will be explained and the problems such as how to determine the optimal institutional and operational monetary policy will be addressed. Additionally, some disruptions that may arise in financial markets and macro-financial links will be touched upon.

ECON 514 Industrial Economics

This course will be based on possible disruptions to the market and will use different models of optimization and game theory to model different market structures outside of the full competition market such as monopoly, oligopoly, and card, as well as models of various price and price strategies of companies operating in such market structures . Antitrust regimes and competition policies to prevent social welfare losses that may arise from such market structures will be studied with a global perspective.

ECON 515 Energy Economics

In this course, the theoretical and empirical approaches of the main energy sources such as oil, natural gas, coal and electricity will be examined and the theoretical and empirical approaches of the processes in the spot and future markets will be examined. Additionally, impacts of the usage of energy and natural resources on economic development will be discussed.

ECON 516 Public Economics

The main theme of this course are the basic concepts of fiscal policy, finance policy applications, comparative analysis of market economy with public economy, public goods. Issues such as decision-making processes of public finance in the framework of models such as voting, contract and game theory, economic analysis of bureaucracy, local and central budgets, budgeting process, development of public expenditures, public incomes and welfare will also be discussed.

ECON 517 Time Series Econometrics

In this course, not only qualitative advanced forecasting methods are addressed, but also different time series modeling approaches, regression analysis and econometric modeling are explained. In the content of the course, the characteristics of the time series will be emphasized, and the model selection will be taught to make the best guess for the structure of the given data. Software programs, namely E-views and RATS, will be used during the course work.

ECON 518 Panel Data and Cross Section Models

In addition to the course on the analysis of time series, this course aims to acquire the skill of developing different models for understanding the relations between economic variables. In the course, different approaches used in modeling of panel data, problems encountered in estimating these models and related econometric methods are explained. In the course, applications will be made using STATA, statistical software program.

ECON 519 Environmental Economics

This course based on the mutual interaction between environment and economics, will discuss how economic operation should be regulated optimally in order to achieve a balance between economic activities and other social objectives. Using generally microeconomic theories and practices, this course  has the main theme of how to optimize economic efficiency and productivity with sustainable environmental policies.

ECON 520 Development Economics

In this course, basic definitions, concepts and theories about participatory development will be explained. In this framework, various indicators of economic development and growth will be addressed, as well as criticisms of different economic theories attempting to explain economic development, as well as criticisms of the concept and theories of development. With this basic information, the structural transformations of economies, industrialization, agricultural transformation and environment, development policies and market relations will be discussed from an empirical point of view.

ECON 521 Transport Economics

The aim of the course is to provide the students who are interested in this area as a whole with the ability to make economic analysis of the transportation sector and to understand the contributions of the transportation sector to the economic development. The course also seeks to develop an understanding of various analytical techniques of managerial economics that facilitate decision-making in the areas of production and costs, demand, pricing, investment and government regulation and intervention in the transport sector. 

ECON 522 Real Estate and Urban Economics

The aim of this course is to examine the economic activities in the real estate, construction and building sectors from an academic point of view and to analyze urban economics. At the beginning of the course, economic models and applications for the housing sector and financing are covered, followed by the construction and operation economics of commercial real estate. This model of models and applications of real estate products in banking and capital markets is studied in detail, with simulations and calculations of some of these products. This course also focuses on the financing dimension of the issues such as smart urbanization, urban transformation and green building, and its impact on economic growth.

ECON 523 Islamic Economics and Finance

This course is an introduction to understand the Islamic economics and finance. The aim of the course is to teach the main theories and practices of Islamic economics and finance using basic concepts. Starting from the origins and historical background of Islamic Economics and finance to understand the paradigm, this course then examines the Islamic rule system and financial instruments. In the main part of the course, Islamic capital markets and the banking sector are emphasized. This course also focuses on Turkey’s experience and shows how Islamic economics and finance is positioned within the Turkish financial sector.

ECON 524 Labor Economics

This course aims to provide a theoretical and empirical examination of the labor market addressing important questions such as: How are wages determined? What is unemployment and why do we observe it?  What are the links between demographics and labor market outcomes? Is it worth investing in education? What is the immigration’s impact on wage earnings?  Why does an informal labor market arise in economies? In addition to these, important aspects of the US and Turkish labor markets will be discussed during the course. 

ECON 525 History of Economic Thought

In this course, economic ideas and doctrines are discussed, that is, how people perceive and understand the economic world around them. These debates are handled in a comparative way, taking into account the perspectives of the Eastern and Western civilizations. On the other hand, it takes into account the fact that ideas and doctrines arise from the assumption that they are not independent and that the ideas emerged and discuss the economic conditions in the time and place, and thus establish an interest in the history of economics.

ECON 526 Law and Economics

This course is based on the claim that economic analysis methods are applied in the field of law. In particular, it aims to examine the legal rules and legal institutions from the perspective of economic efficiency. It tries to guide rulemakers and judges by examining how much the legal order and practices such as property, law, compensation, peace and jurisprudence overlap with the principle of efficiency of the economy.

ECON 545 Current Issues in Turkish Economy 

In this course, by using current economic data, structural features of Turkey’s economy are examined in depth while discussing the current economic issues. Economics and financial institutions are analyzed on the overall functioning of Turkey’s economy and major companies are discussed on business life in Turkey. Economic growth, unemployment, international trade, focused on the major economic issues such as privatization policies also in this course, banking and capital markets out of the current problems of the financial sector in Turkey are analyzed.

ECON 546 Economic History of Modern Turkey

As discussed in the course of historical development of Turkey’s economy, the transition to modernity in the economy are structural and institutional change analysis. In this course, economic politics of the last period of the Ottoman Empire, transition to and after the Republic, post-Great Depression, post-Second World War developments, import substitution politics, liberal politics after 1980 are examined.

ECON 550 Special Topics in Economics

The aim of this course is to develop the knowledge and competence of the participants on selected topics related to the economy.


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