ENM1004 Economics for EngineersBahçeşehir UniversityDegree Programs MANAGEMENT ENGINEERINGGeneral Information For StudentsDiploma SupplementErasmus Policy StatementNational QualificationsBologna Commission
MANAGEMENT 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
ENM1004 Economics for Engineers Spring 3 0 3 7

Basic information

Language of instruction: English
Type of course: Must Course
Course Level: Bachelor’s Degree (First Cycle)
Mode of Delivery: Face to face
Course Coordinator : Dr. Öğr. Üyesi MEHMET EMİN YILDIZ
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.

Learning Outcomes

The students who have succeeded in this course;
1. Understand the general overview of microeconomics and concepts of microeconomics
2. Understand the general overview of macroeconomics and concepts of macroeconomics
3. Analyze and interpret the key concepts of microeconomics in relation with managerial decisions using numerical engineering approach
4. Determine and analyze the types of markets
5. Analyze and interpret the key concepts of macroeconomics in relationship with managerial decisions
6. Gain the ability to capture the essence of not advanced economics news and articles
7. Calculate Short Run Costs and Long Run Costs in order to obtain Output Decisions

Course Content

CONTENT: Essentials of microeconomics and macroeconomics: the economic problem; demand, supply, and price determination; theory of consumer behavior; 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.

Weekly Detailed Course Contents

Week Subject Related Preparation
1) Demand and Supply Applications
1) The Scope of Method of Economics Introduction to Macroeconomics Measuring National Output and National Income
2) Unemployment, Inflation, and Long Run Growth Aggregate Expenditure and Equilibrium Output
3) The Money Supply and The Central Bank System
4) Para Talebi ve Denge Faiz Oranı
5) The Economic Problem: Scarcity and Choice
6) Demand Supply and Market Equilibrium
7) Midterm
8) Elasticity
9) Household Behaviour and Consumer Choice
10) Production Process: The Behavior of Profit-Maximizing Firms
11) Short Run Costs and Output Decisions
12) Long Run Cost and Output Decisions
13) Input Demand: The Capital Market and Investment Decision
14) Perfect Competition, Monopoly, Oligopoly

Sources

Course Notes / Textbooks: Case, Fair and Oster Principles of Economics 12nd ed. Pearson
References:

Evaluation System

Semester Requirements Number of Activities Level of Contribution
Attendance 42 % 25
Homework Assignments 10 % 20
Midterms 1 % 15
Final 1 % 30
Paper Submission 1 % 10
Total % 100
PERCENTAGE OF SEMESTER WORK % 70
PERCENTAGE OF FINAL WORK % 30
Total % 100

ECTS / Workload Table

Activities Number of Activities Duration (Hours) Workload
Course Hours 14 3 42
Study Hours Out of Class 1 40 40
Homework Assignments 10 4 40
Midterms 1 3 3
Paper Submission 1 40 40
Final 1 3 3
Total Workload 168

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 engineering subjects; use theoretical and applied information in these areas to model and solve engineering problems. 5
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. (Realistic constraints and conditions may include factors such as economic and environmental issues, sustainability, manufacturability, ethics, health, safety issues, and social and political issues, according to the nature of the design.)
4) Devise, select, and use modern techniques and tools needed for engineering management practice; employ information technologies effectively.
5) Design and conduct experiments, collect data, analyze and interpret results for investigating engineering management problems. 4
6) Cooperate efficiently in intra-disciplinary and multi-disciplinary teams; and show self-reliance when working independently. 4
7) Demonstrate effective communication skills in both oral and written English and Turkish. 4
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.
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 engineering practices on health, environment, and safety; recognize the legal consequences of engineering solutions.
12) Develop effective and efficient managerial skills.