COURSE INFORMATION Course Title: CAPITAL MARKETS LAW

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
BAF 338	D	6	3	0	0	3	6

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Uğur Ergün
Second Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Elective
Classroom and Meeting Time:
Course Description:	Sub-optimal behaviors in taxes, government spending and budget balances such as large increase in debt ratios and the tendency to conduct pro-cyclical fiscal policies bring researchers to investigate the reasons of these deficits and pro-cyclical biases in order to propose solutions. This course first exposes to the students the different existing biases in the fiscal policies and helps them to understand solutions proposed by the recent economic literature in order to ensure optimal fiscal policy. The course highlights also the importance of fiscal rules and national institutions in shaping a sound and sustainable tax system.
Course Objectives:	The role of institutional arrangements in shaping budgetary outcomes as well as some specific country experiences are analyzed and assessed throughout this course, leading to conclusions on the instrumental character of these devices in promoting sound and sustainable fiscal policy.

COURSE OUTLINE

Week	Topics
1	Introduction
2	Dealing with the deficit bias: Principles and Policies
3	The discipline enhancing role of financial institutions
4	The surplus factor
5	The design of fiscal rules and forms of government in EU countries
6	Rainy day funds: Can they make a difference in Europe?
7	Who provides signals to voters about government competence on fiscal matters? The importance of independent watchdogs
8	Mid-term
9	Beyond the SGP: Features and effects of EU national level fiscal rules
10	Optimal debt policy, and an institutional proposal to help in its implementation
11	The Swedish budget `model`: A genuine beauty or in need of a face lift?
12	Fiscal councils, independent forecasts and the budgetary process: Lessons from the Belgian case
13	Review
14	Review

Prerequisite(s):
Textbook:	Policy Instruments for Sound Fiscal Policies: Fiscal Rules and Institutions (Finance and Capital Markets)
Other References:
Laboratory Work:
Computer Usage:
Others:	No

COURSE LEARNING OUTCOMES

1	Getting to know Financial Industry closer and learn how it is managed
2	Understanding the differences between capital markets
3	Being able to decide whether buying a target is a good or bad strategy for the company.
4	Identifying the risks faced by financial institutions and how to deal with it
5	Using derivatives as capital risk management techniques

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Bachelor in Business Administration (3 years) Program
1	1. Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics.	4
2	2. Apply key theories to practical problems within the global business context.	4
3	3. Demonstrate ethical, social, and legal responsibilities in organizations.	4
4	4. Develop an open minded-attitude through continuous learning and team-work.	4
5	5. Use technology to enable business growth and sustainability.	4
6	6. Analyze data to make effective decisions.	3

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Homework	2	10
Midterm Exam(s)	1	30
Project	1	20
Final Exam	1	30
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	16	2	32
Mid-terms	1	25	25
Assignments	3	5	15
Final examination	1	30	30
Other			0
Total Work Load:			150
Total Work Load/25(h):			6
ECTS Credit of the Course:			6