ENM1002 Economics for EngineersBahçeşehir UniversityDegree Programs INDUSTRIAL ENGINEERINGGeneral Information For StudentsDiploma SupplementErasmus Policy StatementNational QualificationsBologna Commission
INDUSTRIAL ENGINEERING
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 Spring 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, science and industrial engineering subjects; use theoretical and applied information in these areas to model and solve complex engineering problems.
2) Identify, formulate, and solve complex engineering problems; select and apply proper analysis and modeling methods for this purpose.
3) Design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the desired result; apply modern design methods for this purpose. The ability to apply modern design methods to meet this objective.
4) Devise, select, and use modern techniques and tools needed for solving complex problems in industrial engineering practice; employ information technologies effectively.
5) Design and conduct experiments, collect data, analyze and interpret results for investigating the complex problems specific to industrial engineering.
6) Cooperate efficiently in intra-disciplinary and multi-disciplinary teams; and show self-reliance when working independently.
7) Demonstrate effective communication skills in both oral and written English and Turkish. Writing and understanding reports, preparing design and production reports, making effective presentations, giving and receiving clear and understandable instructions.
8) Recognize the need for lifelong learning; show ability to access information, to follow developments in science and technology, and to continuously educate him/herself.
9) Develop an awareness of professional and ethical responsibility, and behaving accordingly. Information about the standards used in engineering applications.
10) Know business life practices such as project management, risk management, and change management; develop an awareness of entrepreneurship, innovation, and sustainable development.
11) Know contemporary issues and the global and societal effects of modern age engineering practices on health, environment, and safety; recognize the legal consequences of engineering solutions.
12) Develop effective and efficient managerial skills.