Course Introduction and Application Information

Course Code:

ECO104

Course Name:

Introduction to Economics

Semester:

Fall

Course Credits:

ECTS

Language of instruction:

English

Course Condition:

Does the Course Require Work Experience?:

Type of course:

Compulsory Courses

Course Level:

Bachelor

TR-NQF-HE:6. Master`s Degree

QF-EHEA:First Cycle

EQF-LLL:6. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator:

Dr. Öğr. Üy. İLAYDA İSABETLİ FİDAN

Course Lecturer(s):

İmran Emre Karagözlü

Course Assistants:

Course Objective and Content

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.

Learning Outcomes

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.

Course Flow Plan

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

Sources

Course Notes / Textbooks:	Mankiw, G.N. (2011), Principles of Economics, South-Western College Publications
References:	Lecture Notes

Course - Program Learning Outcome Relationship

Course Learning Outcomes	1	2	3	4	5
Program Outcomes

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Average	3 Highest

Program Outcomes

Level of Contribution

Assessment & Grading

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

Workload and ECTS Credit Calculation

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