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 | General Elective | 4 | 0 | 0 | 4 | 4 |
| Pre-requisite Course(s) |
|---|
| N/A |
| Course Language | English |
|---|---|
| Course Type | Elective Courses |
| 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 | X |
|---|---|
| Major Area Courses | |
| Supportive Courses | |
| 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 | Acquires skills to use the advanced theoretical and applied knowledge obtained at the mathematics bachelors program to do further academic and scientific research in both mathematics-based graduate programs and public or private sectors. | |||||
| 2 | Transplants and applies the theoretical and applicable knowledge gained in their field to the secondary education by using suitable tools and devices. | |||||
| 3 | Acquires the skill of choosing, using and improving problem solving techniques which are needed for modeling and solving current problems in mathematics or related fields by using the obtained knowledge and skills. | |||||
| 4 | Acquires analytical thinking and uses time effectively in the process of deduction. | |||||
| 5 | Acquires basic software knowledge necessary to work in the computer science related fields and together with the skills to use information technologies effectively. | |||||
| 6 | Obtains the ability to collect data, to analyze, interpret and use statistical methods necessary in decision making processes. | |||||
| 7 | Acquires the level of knowledge to be able to work in the mathematics and related fields and keeps professional knowledge and skills up-to-date with awareness in the importance of lifelong learning. | |||||
| 8 | Takes responsibility in mathematics related areas and has the ability to work affectively either individually or as a member of a team. | |||||
| 9 | Has proficiency in English language and has the ability to communicate with colleagues and to follow the innovations in mathematics and related fields. | |||||
| 10 | Has the ability to communicate ideas with peers supported by qualitative and quantitative data. | |||||
| 11 | Has professional and ethical consciousness and responsibility which takes into account the universal and social dimensions in the process of data collection, interpretation, implementation and declaration of results in mathematics and its applications. | |||||
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 | ||