| Economics (English) | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code: | ECO104 | ||||
| Course Name: | Introduction to Economics | ||||
| Semester: | Spring | ||||
| Course Credits: |
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| Language of instruction: | English | ||||
| Course Condition: | |||||
| Does the Course Require Work Experience?: | No | ||||
| Type of course: | Compulsory Courses | ||||
| Course Level: |
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| Mode of Delivery: | Face to face | ||||
| Course Coordinator: | Dr. Öğr. Üy. İLAYDA İSABETLİ FİDAN | ||||
| Course Lecturer(s): | İmran Emre Karagözlü | ||||
| Course Assistants: |
| Course Objectives: | 1. Giving ideas regarding the efficient use of resources at household and firm levels by teaching the principles of microeconomics, 2. Teaching fundamentals of supply and demand as well as the impacts of events on supply and demand, 3. Teaching and calculating the concepts of elasticity and production and profitability levels regarding equilibrium in various market structures, 4. Enabling the interpretation of macroeconomic indicators at the national level by teaching the principles of macroeconomics, 5. Teaching various concepts such as GDP, inflation, unemployment, savings, investments, monetary system and open economies. |
| Course Content: | Supply and Demand, Market Equilibrium, Market Power, Economic Growth, Macroeconomic Policy, Elasticity, GDP, Inflation, Unemployment, Savings, Investments, Monetary System, Monetary Policy, Open Economy. |
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The students who have succeeded in this course;
1) Understand principles of microeconomics and have ideas regarding efficient use of resources at the household and firm levels. 2) Understand fundamentals of supply and demand as well as impacts of events on supply and demand. 3) Understand and calculate concepts of elasticity, welfare economics from the perspective of supply and demand, and equilibrium production and profitability obtained for different market structures. 4) Interpret macroeconomic indicators by comprehending principles of macroeconomics. 5) Understand GDP, inflation, unemployment, savings, investments, monetary system and open economies. |
| Week | Subject | Related Preparation |
| 1) | Interdependence and the gains from trade Supply and Demand | |
| 2) | Interdependence and the gains from trade Supply and Demand | |
| 3) | Elasticity and Its Applications Supply, Demand and Government Policies | |
| 4) | Consumers, Producers, and the Efficiency of Markets The Costs of Taxation | |
| 5) | The Economics of Public Sector The Costs of Production | |
| 6) | Competitive Markets, Monopoly-1 | |
| 7) | Monopoly-2 Monopolistic Competition | |
| 8) | Oligopoly | |
| 9) | National Income and Inflation | |
| 10) | Production and Growth | |
| 11) | Saving, Investment, and the Financial System | |
| 12) | Unemployment | |
| 13) | The Monetary System | |
| 14) | Introduction to Open Economies |
| Course Notes / Textbooks: | Mankiw, G.N. (2011), Principles of Economics, South-Western College Publications |
| References: | Lecture Notes |
| Course Learning Outcomes | 1 |
2 |
3 |
4 |
5 |
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| Program Outcomes | |||||||||||||
| 1) They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 2) They have knowledge and skill about different functions and interactions of economy. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 3) They use different theoretical approaches to comprehend and solve various economic problems. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 4) They are aware of the needs of society and use their knowledge of economics to meet these needs. | 3 | 3 | 3 | 3 | 3 | ||||||||
| 5) They have in-depth knowledge on the current issues of the Turkish economy and the global economy. | 2 | 2 | 2 | 2 | 2 | ||||||||
| 6) They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy. | 1 | 1 | 1 | 1 | 1 | ||||||||
| 7) Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively. | 1 | 1 | 1 | 1 | 1 | ||||||||
| 8) They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education. | |||||||||||||
| 9) They improve their skills of teamwork, negotiation, leadership and entrepreneurship. | 2 | 2 | 2 | 2 | 2 | ||||||||
| 10) They have universal ethical values, social responsibility awareness and adequate knowledge of business law. | |||||||||||||
| 11) Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them. | |||||||||||||
| 12) They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms. | 1 | 1 | 1 | 1 | 1 | ||||||||
| 13) They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License . | |||||||||||||
| No Effect | 1 Lowest | 2 Average | 3 Highest |
| Program Outcomes | Level of Contribution | |
| 1) | They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics. | 3 |
| 2) | They have knowledge and skill about different functions and interactions of economy. | 3 |
| 3) | They use different theoretical approaches to comprehend and solve various economic problems. | 3 |
| 4) | They are aware of the needs of society and use their knowledge of economics to meet these needs. | 3 |
| 5) | They have in-depth knowledge on the current issues of the Turkish economy and the global economy. | 2 |
| 6) | They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy. | 2 |
| 7) | Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively. | 1 |
| 8) | They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education. | 3 |
| 9) | They improve their skills of teamwork, negotiation, leadership and entrepreneurship. | 2 |
| 10) | They have universal ethical values, social responsibility awareness and adequate knowledge of business law. | 1 |
| 11) | Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them. | 3 |
| 12) | They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms. | 3 |
| 13) | They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License . | 1 |
| Semester Requirements | Number of Activities | Level of Contribution |
| Quizzes | 2 | % 20 |
| Midterms | 1 | % 30 |
| Final | 1 | % 50 |
| total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 50 | |
| PERCENTAGE OF FINAL WORK | % 50 | |
| total | % 100 | |
| Activities | Number of Activities | Preparation for the Activity | Spent for the Activity Itself | Completing the Activity Requirements | Workload | ||
| Course Hours | 14 | 2 | 3 | 70 | |||
| Study Hours Out of Class | 14 | 0 | 2 | 28 | |||
| Quizzes | 2 | 5 | 1 | 12 | |||
| Midterms | 1 | 15 | 1 | 16 | |||
| Final | 1 | 15 | 1 | 16 | |||
| Total Workload | 142 | ||||||