ECONOMICS AND FINANCE
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

Course Introduction and Application Information

Course Code	Course Name	Semester	Theoretical	Practical	Credit	ECTS
ENM1002	Economics for Engineers	Fall	3	0	3	8

This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester.

Basic information

Language of instruction:	English
Type of course:	Non-Departmental Elective
Course Level:	Bachelor’s Degree (First Cycle)
Mode of Delivery:	Face to face
Course Coordinator :	Prof. Dr. YAMAN ÖMER ERZURUMLU
Course Lecturer(s):	Prof. Dr. YAMAN ÖMER ERZURUMLU
Course Objectives:	To present theory and policy clearly, to give an enjoyable introduction to the economist’s world and equip students with the tools to understand and criticize the economic policies. CONTENT: Essentials of microeconomics and macroeconomics: the economic problem; demand, supply, and price determination; theory of consumer behaviour; theory of the firm; market structures; national income and its determination; problems of economic growth, unemployment, and inflation; macroeconomic policy tools. TARGETS: To make students familiar with the main technical terms of the economic life.

Learning Outcomes

The students who have succeeded in this course;
1. Gain knowledge on the fundamentals of economics.
2. Understand the dynamics behind market, supply and demand etc.
3. Understand the structure and fundamentals of different types of market structures.
4. Gain knowledge on the macroeconomic concepts
5. Gain capability to read understand and interpret non academic press.
6. To learn where economic data could be collected from.

Course Content

Essentials of microeconomics and macroeconomics: the economic problem; demand, supply, and price determination; theory of consumer behaviour; theory of the firm; market structures; national income and its determination; problems of economic growth, unemployment, and inflation; macroeconomic policy tools.

Weekly Detailed Course Contents

Week	Subject	Related Preparation
1)	The Scope of Method of Economics Introduction to Macroeconomics Measuring National Output and National Income	the main textbook of the course
2)	Unemployment, Inflation, and Long Run Growth Aggregate Expenditure and Equilibrium Output	the main textbook of the course
3)	The Money Supply and The Central Bank System	the main textbook of the course
4)	Money Demand and The Equilibrium Interest Rate	the main textbook of the course
5)	1st MidTerm
6)	International Trade, Comparative Advantage and Protectionism	the main textbook of the course
7)	Open Economy Macroeconomics: The Balance of Payments and The Exchange Rates	the main textbook of the course
8)	The Economic Problem: Scarcity and Choice Demand Supply and Market Equilibrium Demand and Supply Applications	the main textbook of the course
9)	Demand and Supply Applications Elasticity	the main textbook of the course
10)	2nd Mid Term
11)	Household Behavior and Consumer Choice Production Process: The Behavior of Profit-Maximizing Firms	the main textbook of the course
12)	Short Run Costs and Output Decisions Long Run Cost and Output Decisions	the main textbook of the course
13)	Input Demand: The Capital Market and Investment Decision	the main textbook of the course
14)	Perfect Competition, Monopoly, Oligopoly	the main textbook of the course

Sources

Course Notes / Textbooks:	MAIN TEXT : Case, Fair; Oster; Principles of Economics 11th ed. Pearson SUPPLEMENTARY MATERIALS: Ekonomik Göstergeler ve İstatistikler Rehberi, Seçkin Yayıncılık AŞ, Beşinci Baskı, 2012.
References:

Evaluation System

Semester Requirements	Number of Activities	Level of Contribution
Attendance	1	% 5
Homework Assignments	8	% 25
Midterms	2	% 30
Final	1	% 40
Total		% 100
PERCENTAGE OF SEMESTER WORK		% 60
PERCENTAGE OF FINAL WORK		% 40
Total		% 100

ECTS / Workload Table

Activities	Number of Activities	Duration (Hours)	Workload
Course Hours	14	3	42
Study Hours Out of Class	12	2	24
Homework Assignments	14	4	56
Quizzes	4	1	4
Midterms	2	24	48
Final	1	24	24
Total Workload			198

Contribution of Learning Outcomes to Programme Outcomes

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	Build up a body of knowledge in mathematics and statistics, to use them, to understand how the mechanism of economy –both at micro and macro levels – works.	3
2)	Understand the common as well as distinctive characters of the markets, industries, market regulations and policies.	2
3)	Develop an awareness of different approaches to the economic events and why and how those approaches have been formed through the Economic History and understand the differences among those approaches by noticing at what extent they could explain the economic events.	1
4)	Analyze the interventions of politics to the economics and vice versa.	3
5)	Apply the economic analysis to everyday economic problems and evaluate the policy proposals for those problems by comparing opposite approaches.	2
6)	Understand current and new economic events and how the new approaches to the economics are formed and evaluating.	2
7)	Develop the communicative skills in order to explain the specific economic issues/events written, spoken and graphical form.	3
8)	Know how to formulate the economics problems and issues and define the solutions in a well-formed written form, which includes the hypothesis, literature, methodology and results / empirical evidence.	2
9)	Demonstrate the quantitative and qualitative capabilities and provide evidence for the hypotheses and economic arguments.	2
10)	Understand the information and changes related to the economy by using a foreign language and communicate with colleagues.	3