ECO1211 Introduction to Economics IBahçeşehir UniversityDegree Programs OPTICIANRY (TURKISH)General Information For StudentsDiploma SupplementErasmus Policy StatementNational QualificationsBologna Commission
OPTICIANRY (TURKISH)
Associate TR-NQF-HE: Level 5 QF-EHEA: Short Cycle EQF-LLL: Level 5

Ders Genel Tanıtım Bilgileri

Course Code: ECO1211
Ders İsmi: Introduction to Economics I
Ders Yarıyılı: Spring
Ders Kredileri:
Theoretical Practical Credit ECTS
3 0 3 8
Language of instruction: English
Ders Koşulu:
Ders İş Deneyimini Gerektiriyor mu?: No
Type of course: Non-Departmental Elective
Course Level:
Associate TR-NQF-HE:5. Master`s Degree QF-EHEA:Short Cycle EQF-LLL:5. Master`s Degree
Mode of Delivery: Hybrid
Course Coordinator : Assoc. Prof. ÇAĞLAR YURTSEVEN
Course Lecturer(s):
Course Assistants:

Dersin Amaç ve İçeriği

Course Objectives: This course intends to give a comprehensive understanding of microeconomics.
Course Content: Basic Elements: Introduction, economic way of thinking, basic tools for trade, the functioning of market economy, behaviour of demand and supply, effect of government on markets, economic surplus and market economy, cost of production and profits, competitive markets and monopoly, imperfect markets

Learning Outcomes

The students who have succeeded in this course;
Learning Outcomes
1 - Knowledge
Theoretical - Conceptual
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
Competence to Work Independently and Take Responsibility

Ders Akış Planı

Week Subject Related Preparation
1) Ten Principles of Economics: Trade-offs, Costs, Rationality, Opportunity Cost, Market Economies, Government Interventions, Inflation
2) Thinking like an Economist: Economics as a Science, Assumptions and Models, Micro and Macroeconomics, Positive and Normative Analysis.
3) Interdependence and Gains From Trade: Production Possibilities, Absolute And Comparative Advantages
4) The Market Forces of Demand and Supply: The Nature of a Competitive Market, Individual and Market Demand, Individual and Market Supply, Equilibrium and Changes in Equilibrium
5) Elasticity and its Applications: Price Elasticity of Demand and its Computation, Total Revenue and Elasticity of Demand, Price Elasticity of Supply and its Computation
6) Supply, Demand and Government Policy: Price Controls, Price Floors & Ceilings, Taxes
7) Review
8) Consumers, Producers and the Efficiency : Consumer & Producer Surplus, Market Efficiency
9) The Costs of Taxation: The Deadweight Loss of Taxation, the Determinants of the Deadweight Loss, Tax Revenue, Laffer Curve
10) International Trade: The Determinants of Trade, Effects of Tariff and Quota
11) Externalities & Public Goods: Externality, Internalizing Externality, Transaction Costs, Public Goods, Private Goods, Common Resources, Free Rider
12) The Costs of Production: Total Revenue, Total Cost and Profit, Production Function, Fixed and Variable Costs, Average and Marginal Costs, Cost Curves, Costs in the Short Run and in the Long Run
13) Firms in Competitive Markets: Profit Maximization & the Competitive Firm’s Supply
14) Monopoly: Monopolies’ Production and Pricing Decisions, Profit Maximization, Monopolies’ Profit, Welfare Cost of Monopoly, Public Policy Toward Monopolies, Price Discrimination, Oligopoly: Game Theory and the Economics of Cooperation, Public Policy Toward Oligopolies

Sources

Course Notes / Textbooks: Principles of Economics, N. Gregory Mankiw, South-Western College Pub
References:

Ders - Program Öğrenme Kazanım İlişkisi

Ders Öğrenme Kazanımları
Program Outcomes
1) The student acquires theoretical and practical knowledge related to his field at a basic level.
2) The student owns information about moral discipline and ethical rules related to his field.
3) The student uses theoretical and practical knowledge related to his field at a basic level; basic fundamental computer programs and related technologies.
4) The student manages a duty independently by using the knowledge about his field at a basic level.
5) The student evaluates the knowledge about his field at a basic level with a critical approach, he designates his learning needs and directs his learning.
6) The student uses information and communication technologies with at least at basic level of European Computer Using Licence basic level of computer software which his field of study requires.
7) The student complies with and contributes to quality management and processes.
8) The student has sufficient consciousness about individual and public health, environmental protection and work safety issues.
9) The student acts in accordance with laws, regulations, legislations and professional ethics related to individual duties, rights and responsibilities.

Ders - Öğrenme Kazanımı İlişkisi

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) The student acquires theoretical and practical knowledge related to his field at a basic level.
2) The student owns information about moral discipline and ethical rules related to his field.
3) The student uses theoretical and practical knowledge related to his field at a basic level; basic fundamental computer programs and related technologies.
4) The student manages a duty independently by using the knowledge about his field at a basic level.
5) The student evaluates the knowledge about his field at a basic level with a critical approach, he designates his learning needs and directs his learning.
6) The student uses information and communication technologies with at least at basic level of European Computer Using Licence basic level of computer software which his field of study requires.
7) The student complies with and contributes to quality management and processes.
8) The student has sufficient consciousness about individual and public health, environmental protection and work safety issues.
9) The student acts in accordance with laws, regulations, legislations and professional ethics related to individual duties, rights and responsibilities.

Öğrenme Etkinliği ve Öğretme Yöntemleri

Ölçme ve Değerlendirme Yöntemleri ve Kriterleri

Assessment & Grading

Semester Requirements Number of Activities Level of Contribution
Midterms 1 % 50
Final 1 % 50
Total % 100
PERCENTAGE OF SEMESTER WORK % 50
PERCENTAGE OF FINAL WORK % 50
Total % 100

İş Yükü ve AKTS Kredisi Hesaplaması

Activities Number of Activities Duration (Hours) Workload
Course Hours 16 3 48
Application 13 1 13
Study Hours Out of Class 13 6 78
Midterms 1 12 12
Final 1 18 18
Total Workload 169