At the end of this course, the students; 1) Define basic microeconomic concepts. 2) Describe how microeconomic equilibrium is achieved through supply and demand. 3) Explain basics of consumer and producer behavior. 4) Explain the effects of the government intervention to the market. 5) Compare the operation of monopoly, oligopoly and perfectly competitive markets.
MODE OF DELIVERY
Face to face
PRE-REQUISITES OF THE COURSE
No
RECOMMENDED OPTIONAL PROGRAMME COMPONENT
COURSE DEFINITION
The aim of the introduction to economics course; To examine the concept of economics as a social science and to introduce students to the functioning, depth and power of economics. In the course, basic micro and macroeconomic issues are examined, and it is ensured that students comprehend the basic concepts of economics and the relationships between them. The scope of the economy, basic economic problems, scarcity, supply-demand and market balance, flexibility, production process and profit maximization, consumer preferences, short and long term costs and output decisions are the main topics to be studied in this course.
COURSE CONTENTS
WEEK
TOPICS
1st Week
Quality and Importance of Economics
2nd Week
Economic Problems and Economic Theory
3rd Week
Introduction to Price Theory (Supply and Demand)
4th Week
Formation of equilibrium price
5th Week
Flexibility Analysis
6th Week
Consumer Behavior and Consumer Theory
7th Week
Difference analysis
8th Week
MIDTERM
9th Week
National Income and Methods of Calculating National Income, Factors Determining National Income and Income Distribution
10th Week
Determination of National Income
11th Week
Concept of Money, Properties of Money, Types of Money and Emission Regimes
12th Week
Inflation, Inflation Effects, Price Indexes and Combating Inflation / Deflation
13th Week
Employment and Unemployment
14th Week
Perfect Competition and The Supply Curve
RECOMENDED OR REQUIRED READING
Karl, E., CASE, F., OSTER, R. C., & SHARON, E. (2019). PRINCIPLES OF ECONOMICS. PEARSON.
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS
Lecture,Discussion
ASSESSMENT METHODS AND CRITERIA
Quantity
Percentage(%)
Mid-term
1
40
Quiz
2
15
Total(%)
55
Contribution of In-term Studies to Overall Grade(%)
55
Contribution of Final Examination to Overall Grade(%)
45
Total(%)
100
ECTS WORKLOAD
Activities
Number
Hours
Workload
Midterm exam
1
1,5
1,5
Preparation for Quiz
2
11
22
Individual or group work
14
3
42
Preparation for Final exam
1
35
35
Course hours
14
3
42
Preparation for Midterm exam
1
30
30
Laboratory (including preparation)
Final exam
1
1,5
1,5
Homework
Quiz
2
,5
1
Total Workload
175
Total Workload / 30
5,83
ECTS Credits of the Course
6
LANGUAGE OF INSTRUCTION
Turkish
WORK PLACEMENT(S)
No
KEY LEARNING OUTCOMES (KLO) / MATRIX OF LEARNING OUTCOMES (LO)
