INE2005 Economic Principles in Industrial EngineeringBahçeşehir 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
INE2005 Economic Principles in Industrial Engineering Fall 3 0 3 5

Basic information

Language of instruction: English
Type of course: Must Course
Course Level: Bachelor’s Degree (First Cycle)
Mode of Delivery:
Course Coordinator : Assoc. Prof. SABRİ TANKUT ATAN
Course Objectives: This course aims the students to gain an understanding of basic economic principles. Students are expected to apply these principles to real economic phenomena.

Learning Outcomes

The students who have succeeded in this course;
1. Describe the role of the actors in a business environment
2. Describe basic principles of microeconomics such as consumer surplus, producer surplus, cost of production, elasticity, scarcity
3. Describe to decide like an economist and apply economic principles in daily life

Course Content

Ten Principles of Economics, Thinking Like an Economist, Interdependence and the Gains from Trade, The Market Forces of Supply and Demand, Elasticity and Its Application, Supply, Demand, and Government Policies, Consumers, Producers, and the Efficiency of Markets, The Costs of Production, Firms in Competitive Markets

Weekly Detailed Course Contents

Week Subject Related Preparation
1) Introduction Read the syllabus
2) Ten Principles of Economics Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 / CHAPTER 1
3) Ten Principles of Economics Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 / CHAPTER 1
4) Thinking Like an Economist Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 / CHAPTER 4
5) Interdependence and the Gains from Trade Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 3
6) The Market Forces of Supply and Demand Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 4
7) The Market Forces of Supply and Demand Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 4
8) Elasticity and Its Application Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 5
9) Review for the midterm exam Studying first 5 chapters
10) Elasticity and Its Application (cont) Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 5
11) Supply, Demand, and Government Policies Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 6
12) Consumers, Producers, and the Efficiency of Markets Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 7
13) The Costs of Production Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 8
14) Firms in Competitive Markets Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059 Chapter 9

Sources

Course Notes / Textbooks: Textbook: Principles of Economics, 6th Edition ,N. Gregory Mankiw - Professor of Economics, Harvard University,2012, ISBN-10: 0538453052 ISBN-13: 9780538453059
References: Supplementary Resources: Various internet links and course related material will be available at itslearning.

Evaluation System

Semester Requirements Number of Activities Level of Contribution
Quizzes 5 % 20
Midterms 1 % 20
Final 1 % 40
Paper Submission 1 % 20
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
Quizzes 5 10 50
Midterms 1 15 15
Paper Submission 1 15 15
Final 1 15 15
Total Workload 137

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. 4
2) Identify, formulate, and solve complex engineering problems; select and apply proper analysis and modeling methods for this purpose. 4
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. 3
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. 4
9) Develop an awareness of professional and ethical responsibility, and behaving accordingly. Information about the standards used in engineering applications. 4
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. 4
12) Develop effective and efficient managerial skills.