ECTS - Fundamentals of Economics
Fundamentals of Economics (ECON211) Course Detail
| Course Name | Course Code | Season | Lecture Hours | Application Hours | Lab Hours | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| Fundamentals of Economics | ECON211 | 4 | 0 | 0 | 4 | 4 |
| Pre-requisite Course(s) |
|---|
| N/A |
| Course Language | English |
|---|---|
| Course Type | N/A |
| Course Level | Bachelor’s Degree (First Cycle) |
| Mode of Delivery | Face To Face |
| Learning and Teaching Strategies | Lecture, Discussion, Question and Answer, Problem Solving. |
| Course Lecturer(s) |
|
| Course Objectives | The principal objective of ECON 211 is to introduce students the essentials of both micro and macroeconomics. This course focuses on development of basic theory of demand, supply, and market price and explores applications of selected microeconomic problems, such as basic monopoly and competition, and other issues that relate to the role of the pricing system in resource allocation and income distribution. Also in this course we will learn the introductory concepts in macroeconomics such as national income and output, aggregate expenditure, equilibrium etc. |
| Course Learning Outcomes |
The students who succeeded in this course;
|
| Course Content | Introduction to demand, supply and market price formation; household behavior; elasticity; production process; profit maximizing firm behavior; different market types such as monopoly, perfect competition, oligopoly; national income, GDP, business cycles, recession, unemployment, price stability growth. |
Weekly Subjects and Releated Preparation Studies
| Week | Subjects | Preparation |
|---|---|---|
| 1 | The Scope and Method of Economics | Case & Fair 7th Edition, pp. 1-22 |
| 2 | The Economic Problem: Scarcity and Choice | Case & Fair 7th Edition, pp. 23-42 |
| 3 | Demand, Supply and Market Equilibrium | Case & Fair 7th Edition, pp. 43-71 |
| 4 | Demand and Supply Applications and Elasticity | Case & Fair 7th Edition, pp. 71-100 |
| 5 | Household Behavior and Consumer Choice | Case & Fair 7th Edition, pp. 101-128 |
| 6 | The Production Process: The Behavior of Profit–Maximizing Firms | Case & Fair 7th Edition, pp. 129-150 |
| 7 | Short–Run Costs and Output Decisions | Case & Fair 7th Edition, pp. 151-172 |
| 8 | Long–Run Costs and Output Decisions | Case & Fair 7th Edition, pp. 173-196 |
| 9 | Input Demand: The Labor and Land Markets | Case & Fair 7th Edition, pp. 197-214 |
| 10 | Input Demand: The Capital Market and the Investment Decision | Case & Fair 7th Edition, pp. 215-232 |
| 11 | General Equilibrium and the Efficiency of Perfect Competition | Case & Fair 7th Edition, pp. 233-252 |
| 12 | Monopoly and Antitrust Policy | Case & Fair 7th Edition, pp. 253-280 |
| 13 | Introduction to Economics &Measuring National Output and Income | Case & Fair 8th Edition, chp.18&19 |
| 14 | Long Run and Short Run Concerns: Growth, Productivity and Inflation | Case & Fair 8th Edition, chp.20 |
| 15 | Long Run and Short Run Concerns: Growth, Productivity and Inflation | Case & Fair 8th Edition, chp.20 |
| 16 | Final Exam |
Sources
| Course Book | 1. Case, Karl E. and Fair, Ray C., Principles of Economics, 7th or 8th Edition, Pearson/Prentice Hall. |
|---|---|
| 2. David Colander, Economics (8th Edition), McGraw-Hill |
Evaluation System
| Requirements | Number | Percentage of Grade |
|---|---|---|
| Attendance/Participation | 1 | 5 |
| Laboratory | - | - |
| Application | - | - |
| Field Work | - | - |
| Special Course Internship | - | - |
| Quizzes/Studio Critics | 2 | 5 |
| Homework Assignments | 8 | 5 |
| Presentation | - | - |
| Project | - | - |
| Report | - | - |
| Seminar | - | - |
| Midterms Exams/Midterms Jury | 1 | 35 |
| Final Exam/Final Jury | 1 | 50 |
| Toplam | 13 | 100 |
| Percentage of Semester Work | 50 |
|---|---|
| Percentage of Final Work | 50 |
| Total | 100 |
Course Category
| Core Courses | |
|---|---|
| Major Area Courses | |
| Supportive Courses | X |
| Media and Managment Skills Courses | |
| Transferable Skill Courses |
The Relation Between Course Learning Competencies and Program Qualifications
| # | Program Qualifications / Competencies | Level of Contribution | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | An ability to apply knowledge of mathematics, science, and engineering | |||||
| 2 | An ability to design and conduct experiments, as well as to analyze and interpret data | |||||
| 3 | An ability to design a system, component, or process to meet desired needs | |||||
| 4 | An ability to function on multi-disciplinary teams | |||||
| 5 | An ability to identify, formulate and solve engineering problems | |||||
| 6 | An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice | |||||
| 7 | An understanding of professional and ethical responsibility | |||||
| 8 | An ability to communicate effectively | |||||
| 9 | An understanding the impact of engineering solutions in a global and societal context and recognition of the responsibilities for social problems | |||||
| 10 | A knowledge of contemporary engineering issues | |||||
| 11 | Skills in project management and recognition of international standards and methodologies | |||||
| 12 | Recognition of the need for, and an ability to engage in life-long learning | |||||
ECTS/Workload Table
| Activities | Number | Duration (Hours) | Total Workload |
|---|---|---|---|
| Course Hours (Including Exam Week: 16 x Total Hours) | 16 | 3 | 48 |
| Laboratory | |||
| Application | |||
| Special Course Internship | |||
| Field Work | |||
| Study Hours Out of Class | 16 | 3 | 48 |
| Presentation/Seminar Prepration | |||
| Project | |||
| Report | |||
| Homework Assignments | 1 | 1 | 1 |
| Quizzes/Studio Critics | |||
| Prepration of Midterm Exams/Midterm Jury | 1 | 2 | 2 |
| Prepration of Final Exams/Final Jury | 1 | 2 | 2 |
| Total Workload | 101 | ||