Akademik Veri Yönetim Sistemi
Istanbul Journal of Economics / İstanbul İktisat Dergisi, cilt.71, sa.1, ss.1-19, 2021 (Hakemli Dergi)
Monetary National Income Analog Computer (MONIAC) is a
hydraulic machine that we can describe as an analog simulator
modeling macroeconomic relationships. It was invented by the
famous economist A. W. Phillips in 1949 and produced in limited
numbers. The circulation of water in the machine shows the
circulation of money in the economy. The economic behaviors
of units such as households, firms, government, export, and
import segments, and the economic variables by which these
behaviors are affected can be observed while the water circulates
the machine. The working principle of this machine reflects
the assumptions of both Keynesian and Classical economics
schools regarding economic functioning. The machine was
brought to Istanbul University Faculty of Economics in the 1950s,
by Prof. Dr. Besim Ustunel, one of the late faculty members. A
sensational scientific production for the international academic
community at that time, thus, was brought to Turkey in a very
short period of time. The fact that the machine was introduced to
Turkish higher education shortly after its invention is an important
indicator of the ability of the Faculty of Economics to adapt to
current scientific developments. Although MONIAC has been reoperational with a project initiated by the Faculty of Economics
in 2017, it is not possible to use the machine actively in lessons
today, which used to be one of its primary functions. However,
based on this analog machine, the digital simulation that we carry
out within the scope of the project can be used as an educational
tool. MONIAC, in its restored original form, has been preserved
by the Faculty of Economics as a historical value of the Faculty.