| Language of instruction: |
English |
| Type of course: |
Must Course |
| Course Level: |
Bachelor’s Degree (First Cycle)
|
| Mode of Delivery: |
Hybrid
|
| Course Coordinator : |
Prof. Dr. SABRİ TANKUT ATAN |
| Course Objectives: |
This introductory course into economics aims to familiarize students with the basic issues that make up the subject matter of microeconomics and macroeconomics. We start the course with a lecture on the contents, methods and a short historical background of economics as a social science. In the following lectures up to the midterm, we will look at microeconomic issues such as supply, demand, market structures, the neoclassical theory of price, production and consumer choice. In the second half of the semester, we will explore macroeconomic issues such as domestic income, growth, money and banking, inflation, unemployment, fiscal and monetary policies.
Teaching methods and techniques used in the course are as follows: lecture, reading, discussion, problem-solving |
| Ten Principles of Economics, Thinking Like an Economist, Interdependence and the Gains from Trade, The Market Forces of Supply and Demand, Elasticity and Its Applications, Supply, Demand, and Government Policies, Consumers, Producers, and the Efficiency of Markets, The Costs of Production, Firms in Competitive Markets, Measuring Nations's Well-Being, Measuring Cost of Living, Production and Growth, Unemployment, Aggregate Demand and Supply, Monetary and Fiscal Policies, Monetary System, Inflation, Open-Economy Macroeconomics |
| Week |
Subject |
Related Preparation |
| 1) |
Introduction: What is Economics? |
Mankiw Chapter 1 |
| 2) |
The Market Forces of Supply and Demand |
Mankiw Chapter 3 |
| 3) |
Elasticity and Its Applications |
Mankiw Chapter 4 |
| 4) |
Market Structures I: Firms in Competitive Markets |
Mankiw Chapter 6 |
| 5) |
Market Structures II: Monopoly Markets |
Mankiw Chapter 14 |
| 6) |
Market Structures III-IV: Monopolistic Competition and Oligopoly Markets |
Mankiw Chapters 15 and 16 |
| 7) |
Midterm exam |
Covered chapters |
| 8) |
Measuring a Nation’s Well-Being |
Mankiw Chapter 20 |
| 9) |
Measuring the Cost of Living |
Mankiw Chapter 21 |
| 10) |
Production and Growth, Unemployment |
Mankiw Chapters 22 and 23 |
| 11) |
Aggregate Demand and Supply,
The Influence of Monetary and Fiscal Policy on AD |
Mankiw Chapters 33 and 34 |
| 12) |
The Monetary System |
Mankiw Chapter 27 |
| 13) |
Money Growth and Inflation |
Mankiw Chapter 28 |
| 14) |
Open-Economy Macroeconomics: Basic Concepts |
Mankiw Chapter 29 |
| |
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. |
|