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Course Code: 
ECON 291
Course Period: 
Autumn
Course Type: 
Core
P: 
3
Lab: 
0
Credits: 
3
ECTS: 
6
Course Language: 
English
Course Objectives: 
The aim of this course is to teach students the general concepts of economics and to introduce the methodology of economic thinking. In this course designated for social scientists, the main concepts of economics related to application of economic thinking in business and social life are going to be explained through examples.
Course Content: 

This course comprises two parts: Microeconomics and macroeconomics. In the first part the definition and method of economics, supply and demand, elasticity, price formation, consumer and producer behavior are analyzed. The topics covered in the second part are economic growth, unemployment, inflation, fiscal and monetary policies, money.

Course Methodology: 
1: Lecture, 2: Question-Answer, 3: Discussion, 12: Case Study
Course Evaluation Methods: 
A: Testing, B: Experiment, C: Homework, Q: Quiz

Vertical Tabs

Course Learning Outcomes

Learning Outcomes Program Learning Outcomes Teaching Methods Assessment Methods
Students learn the basic concepts of economics, demand, supply and market equilibrium, through examples from daily life. 1, 2, 7 1, 2, 3 A
Students learn the aim and behaviour of producers and consumers, which are the main economic actors of the economy. 1, 2, 7 1, 2, 3 A
Students learn the three basic problems of the macroeconomy, growth, unemployment and inflation. 1, 2, 5, 7 1, 2, 3 A
Students learn fiscal and monetary policies and their impacts on the national economy. 1, 2, 5, 7 1, 2, 3 A

 

Course Flow

COURSE CONTENT
Week Topics Study Materials
1 Introduction and The Scope and Method of Economics  
2 The Economic Problem: Scarcity and Choice  
3 Demand, Supply and Market Equilibrium  
4 Demand and Supply Applications  
5 Elasticity  
6 Household Behavior and Consumer Choice  
7 The Production Process: The Behavior of Profit-Maximizing Firms  
8 Midterm Exam  
9 Introduction to Macroeconomics  
10 Measuring National Output and National Income  
11 Unemployment and Inflation  
12 Aggregate Expenditure and Equilibrium Output  
13 The Government and Fiscal Policy  
14 Money, The Federal Reserve, and the Interest Rate  

 

Recommended Sources

RECOMMENDED SOURCES
Textbook Principles of Economics, K.E. Case, R.C. Fair, and S.M. Oster (Pearson, 12th Edition)
Additional Resources Daily news, newspapers and economy blogs

 

Assessment

 

ASSESSMENT
IN-TERM STUDIES NUMBER PERCENTAGE
Mid-terms 1 80
Quizzes (attendance, presentation, etc.) 1 20
Assignments 0 0
  Total 100
Contribution of Final Examination to Overall Grade   50
Contribution of In-Term Studies to Overall Grade   50
Total   100

 

Course’s Contribution to Program

COURSE'S CONTRIBUTION TO PROGRAM
No Program Learning Outcomes Contribution
1 2 3 4 5  
1 Students can keep themselves informed and analyze the current economic development in Turkey and in the world from an international political economy perspective paying a particular attention to the interaction of the Turkish economy with the global economy.         X  
2 Being aware of the development and accumulation of economic thought, students can master qualitative and quantitative knowledge and methods to test various economic theories that can be applied to the analysis of the current economic problems.       X    
3 Students can use statistical and econometric analyses by learning how to use information technologies that have validity and widespread use in the field of economics.            
4 By learning how to learn in the field of economics, students can research and work individually or as a team using the Turkish and English academic resources.   X        
5 Being aware of the ethical values, students know the individual, social and ecological dimensions of the concept of social responsibility and can prove that they understand the active citizenship duty that falls upon them within this framework.     X      
6 Students can clearly express, present and share their knowledge, the outcomes of their studies, their ideas and comments to people in their field or other disciplines/units using the necessary data, in national and international academic and professional environments, in Turkish or English.   X        
7 Students can show that understanding the universality of social rights and the concepts of social justice, which form the basis of the modern societies, and the importance of scientific perspective, which is necessary to the social development and global competitiveness.     X      

 

ECTS

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COURSE DESCRIPTION
Activities Quantity Duration

(Hour)

Total Workload
(Hour)
Course Duration (Including the Exam Week: 15 x total course hours) 15 3 45
Hours for off-the-classroom study (Pre-study, practice) 15 5 75
Mid-terms 1 10 10
Quizzes (attendance, presentation, etc.) 1 3 3
Assignments 0 0 0
Final Examination 1 10 10
Total Workload     143
Total Workload / 25 (h)     5,72
ECTS Credit of the Course     6