| INTERNATIONAL FINANCE | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| ECO1211 | Introduction to Economics I | Fall | 3 | 0 | 3 | 8 |
| This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester. |
| 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. ÇAĞLAR YURTSEVEN |
| Course Lecturer(s): |
Prof. Dr. NECİP ÇAKIR Prof. Dr. ÇAĞLAR YURTSEVEN |
| Recommended Optional Program Components: | None |
| Course Objectives: | Introduction to Economics-I is an introductory level course that covers topics such as relative scarcity, efficiency and welfare, cost of choices, and market structures. Its primary aim is to develop a basic understanding of economic principles and issues. It develops your economic literacy and teaches you how economics relates to the everyday life of individuals, businesses and society in general. |
|
The students who have succeeded in this course; 1. Use the basic concepts of economics to explain everyday life 2. Explain the behavior of buyers and sellers in the market using basic economic theories 3. Explain the role of government in influencing buyer and seller behavior in the market 4. Explain the role of profits in a market economy 5. Identify firm behaviors in different market structures. |
| The teaching methods of the course are Lecture and Problem Solving. Basic Elements: Introduction, economic way of thinking, basic tools for trade, the functioning of market economy, behaviour of demand and supply, effect of government on markets, economic surplus and market economy, cost of production and profits, competitive markets and monopoly, imperfect markets |
| Week | Subject | Related Preparation |
| 1) | Orientation | |
| 2) | Ten Principles of Economics & Thinking Like an Economist | MANKIW & TAYLOR 2nd ed., Ch.1, 2 MRU: 1. Introduction |
| 3) | The Market Forces of Supply and Demand | MANKIW & TAYLOR 2nd ed., Ch. 4 MRU: 2. Supply, Demand and Equilibrium |
| 4) | Elasticity and Its Application | MANKIW & TAYLOR 2nd ed., Ch. 5 MRU: 3. Elasticity and Its Application |
| 5) | Supply, Demand & Government Policies | MANKIW & TAYLOR 2nd ed., Ch. 6 MRU: 4. Taxes and Subsidies AND 6. Price Ceilings and Price Floors |
| 6) | Review | |
| 7) | Consumers, Producers & the Efficiency of the Markets | MANKIW & TAYLOR 2nd ed., Ch. 7 MRU 2: Supply, Demand and Equilibrium (Subsections Consumer Surplus and Producer Surplus) |
| 8) | Midterm Exam | |
| 9) | The Costs of Production | MANKIW & TAYLOR 2nd ed., Ch.13 MRU 9: Costs and Profit Maximization under Competition |
| 10) | Firms in Competitive Markets | MANKIW & TAYLOR 2nd ed., Ch.14 MRU 10: Competition and Invisible Hand |
| 11) | Monopoly | MANKIW & TAYLOR 2nd ed., Ch. 15 MRU 11: Monopoly |
| 12) | Monopolistic Competition | MANKIW & TAYLOR 2nd ed., Ch.16 |
| 13) | Oligopoly & Game Theory | MANKIW & TAYLOR 2nd ed., Ch.17 |
| 14) | Final Review |
| Course Notes / Textbooks: | • Economics, Gregory MANKIW & Mark P. TAYLOR, Cengage Publishing. (2nd, 3rd or 4th eds.) |
| References: | Marginal Revolution University: https://mru.org/courses/principles-economics-microeconomics/introduction-microeconomics • The Undercover Economist, Tim HARFORD • Freakonomics, Steven D. LEVITT & Stephen J. DUBNER • Naked Economics: Undressing the Dismal Science, Charles WHEELAN |
| Semester Requirements | Number of Activities | Level of Contribution |
| Midterms | 1 | % 50 |
| Final | 1 | % 50 |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 50 | |
| PERCENTAGE OF FINAL WORK | % 50 | |
| Total | % 100 | |
| Activities | Number of Activities | Duration (Hours) | Workload |
| Course Hours | 13 | 3 | 39 |
| Study Hours Out of Class | 14 | 11 | 154 |
| Midterms | 1 | 1 | 1 |
| Final | 1 | 2 | 2 |
| Total Workload | 196 | ||
| No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
| Program Outcomes | Level of Contribution | |
| 1) | To correctly identify the problems and to be able to ask the correct questions | 2 |
| 2) | To have the ability for problem solving and to utilize analytical approach in dealing with the problems of finance | 1 |
| 3) | To understand and grasp the full details of theoretical arguments and counter arguments | 2 |
| 4) | To be fully prepared for a graduate study in finance and to have lifelong learning awareness | 2 |
| 5) | To be able to apply theoretical principles of finance to the realities of practical business life | 1 |
| 6) | To develop solutions for managerial problems by understanding the requirements of international financial markets | 2 |
| 7) | To think innovatively and creatively in complex situations | 3 |
| 8) | To be able to make decisions both locally and internationally by knowing the effects of globalization on business and social life | 2 |
| 9) | To have the competencies of the digital age and to use the necessary financial applications | 2 |
| 10) | To be able to use at least one foreign language both for communication and academic purposes | 1 |
| 11) | To understand the importance of business ethics and to take decisions by knowing the legal and ethical consequences of their activities in the academic world and business life | 2 |
| 12) | To develop an objective criticism in business and academic life and having a perspective to self-criticize | 2 |