News and Announcements

Jun 2017
EKO201 and EKO201E make-up exams will be held at the Maçka Campus at D-101 .

May 2017
The make-up exams for the ECO 201 and EKO 201E courses will be held on Monday, June 12 from 14:00 to 16:00.

May 2017
For EKO201E(English) Students
The final exam for EKO 201E will be cumulative. However, the topics that were not included in the midterm exam will carry significantly more weight in the composition of the exam questions.

May 2017
PwC Seminar, May 23 (Irregular Time: 11:00 AM)

ITU Economics cordially invites you to attend the following Economics PricewaterhouseCoopers-İTÜ Economics seminar:

Date & Time: May 12, 2017, Friday, 11:00AM.

Location: Room F237 - ITU Faculty of Management, Maçka 34367 Istanbul

Speaker: Selva Demiralp (Koc Universitesi)

Title: The impact of negative interest rates on bank balance sheets:Evidence from the euro area

In June 2014 the ECB became the first major central bank to lower one of its key policy rates to negative territory.  The theoretical and empirical literature on the role of banks in monetary policy transmission is silent on whether their reaction would be different when the policy rate is lowered to negative levels compared to a standard reaction to a rate cut.  In this paper we examine this question empirically by using individual bank data for the euro area to identify possible adjustments by banks triggered by the introduction of negative interest rates through three channels: government bond holdings, bank lending, and wholesale funding.  We find evidence that there is a significant portfolio adjustment during the negative interest rate period, as banks tend to hold more non-domestic bonds, extend more loans and rely less on wholesale funding. 

May 2017
EKO201E Results
You can find the results of EKO201E from the link below.

EKO201E Results

Apr 2017
EKO201 Exam Results (Corrected)
You can find the revised version of the results on the linkte below.


Apr 2017
PwC Seminar, 28 April

ITU Economics cordially invites you to attend the following Economics PricewaterhouseCoopers-İTÜ Economics seminar:

Date & Time: April 28, 2017, Friday, 2:00PM.

Location: Room F235 - ITU Faculty of Management, Maçka 34337 Istanbul

Speaker: Eren Inci (Sabanci University)

Title:  Unbundling Curbside Parking Costs from Housing Prices and Rents


This paper empirically shows that at least some of the costs of curbside parking spaces are capitalized in housing prices even though these parking spaces are not formally bundled with housing units. Making use of Istanbul's transition from free and informal curbside parking to paid and formal, we find that housing prices decreased substantially as a response to the city operating curbside parking, while rents remained statistically the same. Thus, although the transition unbundles parking costs from housing prices, the depreciation in house values is not reflected in rents.

Apr 2017
PwC Seminar, April 21

ITU Economics cordially invites you to attend the following Economics PricewaterhouseCoopers-İTÜ Economics seminar:

Date & Time: April 21, 2016, Friday, 2:00PM.

Location: Room F235 - ITU Faculty of Management, Maçka 34337 Istanbul

Speaker: Suut Dogruel (Marmara University)

Title: Chinese Economic Expansion and the Manufacturing Sector in the MENA Region


The term deindustrialization is used to define the decline in the share of manufacturing as an economy reaches to a high income level. Kuznets addresses a decreasing trend in manufacturing output and employment is a natural outcome of development of a country due to the sectoral shift from manufacturing to services and thus create a deindustrialization.  In addition to the structural change a la Kuznets, the worldwide shift of manufacturing to China is also shown another factor which may accelerate the deindustrialization in industrialized countries.  However, the effect of Chinese boom on developing countries is not uniform: Particularly the economies in the South East also benefited from the worldwide shift of manufacturing. On the other hand, Chinese development hinders the industrialization efforts in the large number of developing countries.


The paper intends to examine the main determinants of the manufacturing development in the selected MENA countries. The Kuznets’ structural change hypothesis is taken as the starting point of the empirical model specification in the paper. The model is also designed to capture the effects of the other factors, such as oil resources and openness, in addition to the Chinese expansion. A panel data estimation is used for empiric models. The data source is the World Development Indicators of the World Bank.


The preliminary results reveal that openness, natural resources and the expansion of China in the world economy have considerable effects on the development of the manufacturing sector in the MENA countries. Openness and rich natural resources such as oil and natural gas are the main obstacles on the manufacturing development in the region. Chinese expansion in the world economy which is considered as the main source of the deindustrialization in the developed and the developing countries has limited impact. However, open MENA economies benefit from the Chinese expansion.


Apr 2017
PwC Seminar, April 14
ITU Economics cordially invites you to attend the following Economics PricewaterhouseCoopers-İTÜ Economics seminar:

Date & Time: April 7, 2016, Friday, 2:00PM.

Location: Room F235 - ITU Faculty of Management, Maçka 34337 Istanbul

Speaker: Christopher Hannum (Istanbul Technical University)

Title: Spatial Competition Among Residential Brokers

Anecdotal evidence suggests that firms and individuals participating in property-related markets, such as residential brokers, consider that competition among them intensifies during property market downturns. This is at odds with conventional theory, which suggests that in a downturn competition will decrease as some firms faced with losses leave the market. We argue that this disconnect may be caused by an unnoticed spatial dimension to competition in these markets, where firms choose the area in which they will operate. We first demonstrate using a spatial agent-based model (ABM) that the desire by a broker to restrict market area to appeal to clients within that local area may be consistent with expanded market areas by brokers and hence intensified competition during downturns.  We then calculate market areas and shares within those market areas for individual brokers using MLS data and regress the size of market area and concentration within market condition variables.  We find that during downturns, brokers’ market areas expand and competition within their market areas increases.

Apr 2017
EKO201-EKO201E Midterm Location List
You can find the PDF file of your exam locations from the link below.

EKO201-EKO201E Midterm

Mar 2017
PwC Seminar, March 17
ITU Economics cordially invites you to attend the following Economics PricewaterhouseCoopers-İTÜ Economics seminar:

Date & Time: March 17, 2016, Friday, 2:00PM.

Location: Room F235 - ITU Faculty of Management, Maçka 34337 Istanbul

Speaker: Han Ozsoylev (Oxford University and Koc University)

Title: Asset Allocation and Trade under Heterogenous Ambiguity Aversion

Mar 2017
EKO201 and EKO201E Midterm Exams
The midterm exams for EKO 201 and EKO 201E will be held from 18:00 to 19:00 on Wednesday, April 5, 2017. The exam locations will be announced on this page. 

The EKO201E midterm exam will cover the topics from the syllabus up to and including chapter 14.

Feb 2017
Project Appraisal Course
This week's Guest Speaker of the Project Appraisal course will make a presentation entitled" Establishment of a Corporation in Turkey "by Çağıl Sahin Sünbül, Senior Manager of PwC.

Feb 2017


The following guidelines are drafted for the purpose of conducting the undergraduate graduation projects.

  1. Topic Choice

 The topic choice should be issued from the field courses available at:

Sectoral Electives

Institutional and Regulations Electives

Decision Making Electives

Other Fields

Energy Economics

Income Distribution & Poverty

Behavioral Economics


Money, Banking and Financial Markets

Transport Economics

European Economics & Institutions

Experimental Economics

International Trade

Environmental Economics

Labor Economics

Economics and Psychology


International Finance

Health Economics


Regulatory Economics & Regulated Markets


Corporate Finance

Economics of Education



Development Economics

Urban Economics



Economics of Growth


2) Project groups and advisor choice

The project group may consist of at most 2 students. The choice of the advisor should be done with respect to the field course and the students’ areas of interest. A faculty member cannot supervise more than four groups.

3) Proposal format and timing

The group should meet their advisor at least once a week. Given the time-scale of the course of 14 weeks, the recommended timing is as follows:

  • 1st to 2rd week: discussion on the topic between the group and the potential advisor; submission of the draft proposal and the statement of ethics to the departmental secretary.
  • 3rd week: appointment of the advisors and exam juries by the Departmental Head.
  • 4th week: writing of the final proposal by the group and validation by the identified advisor; submission to the departmental secretary.
  • 8th week: Mid-term progress report submission to the departmental secretary (failure to submission will get VF)
  • 14th week: Submission of the final project to the advisor
  • 15th week (1st week of the final exams): Validation of the final project by the advisor and its submission to the departmental secretary, together with plagiarism check report. If the advisor does not validate the project, the students can apply for an extension. If the project fails to pass the plagiarism check, the students will directly get FF.
  • 16th week (2nd week of the final exams): Presentations of the final projects to the jury


    4) Progress Report and Timing 

    The final project should be around 20 pages long excluding tables, figures, and appendices. The progress in the project, which can take the form of the development of the term paper, should be evaluated after every appointment between the students and the advisor. Four important aspects ought to be evaluated: (1) quality of synthesis of the literature review, (2) econometric literacy, (3) soundness of the economic analysis, and (4) overall quality of the work.

    5) Formation of committee 

    The jury should be composed of 3 scholars, one of whom would be the advisor. 

    6) Grading

    The grading should be as follows (subject to İTÜ regulations):

  • Progress report (based on the regular development of the term paper): 20% of the grade;
  • Term paper (technical and writing qualities of the paper): 30% of the grade;
  • Final restitution in form of defense before a jury: 50% of the grade. The restitution should last at most 1 hour, with 40 min (or 67% of the time) dedicated to the presentation (25% of the grade) and 20 min (or 33% of the time) dedicated to the questions from the jury (25% of the grade).

Dec 2016
Workshop on Matching Markets
Please join us for the "İTÜ - Workshop on Matching Markets" on December 29, 2016 at Economics Department of Istanbul Technical University.
Our workshop brings scholars from North America, Europe, and Turkey to present and discuss their current research and it also aims to foster interaction and collaboration on new research perspectives.
Matching Theory and Market Design help us to design and redesign markets when traditional market mechanisms fail to allocate resources in an efficient and fair manner. Matching Theory has been very successful in real life applications including school choice, medical labor markets, organ donation, and course allocation.
You can find the details for our program here:
Workshop Poster

Nov 2016
Do end-of-alphabet surnames harm careers?

Myths about the impact of having a surname starting with a letter late in the alphabet have been debunked by a new analysis from Associate Professor Tolga Yuret.


Oct 2016
Meeting with Big Four
The Department of Economics organized a meeting with the Human Resource Directors from the Big Four, the four largest professional networks in the world offering audit and consulting services (PWC - E&Y - D&T - KPMG) on 6th October 2016. Career opportunities towards our students and close collaboration between our department and Big Four was the agenda of the meeting.


Sep 2016
Orientation Meeting for the Students Starting Their First Year
Orientation meeting will be held  on 21th September 2016, Wednesday, at 17:00 p.m. in F-134  for the students starting their first-year in Department of Economics in order to help them better recognize our department.

Jul 2016
Department of Economics Brochure
You can find the updated information about department of economics in the attached file.
Economics Brochure

Jul 2016
ITU Preference Days
ITU Preference Days will be organized at Maslak campus between July 20 and 23 2016.