Week |
Subject |
Related Preparation |
1) |
Ten Principles of Economics: Trade-offs, Costs, Rationality, Opportunity Cost, Market Economies, Government Interventions, Inflation |
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2) |
Thinking like an Economist: Economics as a Science, Assumptions and Models, Micro and Macroeconomics, Positive and Normative Analysis. |
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3) |
Interdependence and Gains From Trade: Production Possibilities, Absolute And Comparative Advantages |
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4) |
The Market Forces of Demand and Supply: The Nature of a Competitive Market, Individual and Market Demand, Individual and Market Supply, Equilibrium and Changes in Equilibrium |
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5) |
Elasticity and its Applications: Price Elasticity of Demand and its Computation, Total Revenue and Elasticity of Demand, Price Elasticity of Supply and its Computation |
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6) |
Supply, Demand and Government Policy: Price Controls, Price Floors & Ceilings, Taxes |
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7) |
Review |
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8) |
Consumers, Producers and the Efficiency : Consumer & Producer Surplus, Market Efficiency |
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9) |
The Costs of Taxation: The Deadweight Loss of Taxation, the Determinants of the Deadweight Loss, Tax Revenue, Laffer Curve |
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10) |
International Trade: The Determinants of Trade, Effects of Tariff and Quota |
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11) |
Externalities & Public Goods: Externality, Internalizing Externality, Transaction Costs, Public Goods, Private Goods, Common Resources, Free Rider |
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12) |
The Costs of Production: Total Revenue, Total Cost and Profit, Production Function, Fixed and Variable Costs, Average and Marginal Costs, Cost Curves, Costs in the Short Run and in the Long Run |
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13) |
Firms in Competitive Markets: Profit Maximization & the Competitive Firm’s Supply |
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14) |
Monopoly: Monopolies’ Production and Pricing Decisions, Profit Maximization, Monopolies’ Profit, Welfare Cost of Monopoly, Public Policy Toward Monopolies, Price Discrimination, Oligopoly: Game Theory and the Economics of Cooperation, Public Policy Toward Oligopolies |
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Program Outcomes |
Level of Contribution |
1) |
Build up a body of knowledge in mathematics and statistics, to use them, to understand how the mechanism of economy –both at micro and macro levels – works. |
5 |
2) |
Understand the common as well as distinctive characters of the markets, industries, market regulations and policies. |
5 |
3) |
Develop an awareness of different approaches to the economic events and why and how those approaches have been formed through the Economic History and understand the differences among those approaches by noticing at what extent they could explain the economic events. |
5 |
4) |
Analyze the interventions of politics to the economics and vice versa. |
5 |
5) |
Apply the economic analysis to everyday economic problems and evaluate the policy proposals for those problems by comparing opposite approaches. |
4 |
6) |
Understand current and new economic events and how the new approaches to the economics are formed and evaluating. |
3 |
7) |
Develop the communicative skills in order to explain the specific economic issues/events written, spoken and graphical form. |
5 |
8) |
Know how to formulate the economics problems and issues and define the solutions in a well-formed written form, which includes the hypothesis, literature, methodology and results / empirical evidence. |
3 |
9) |
Demonstrate the quantitative and qualitative capabilities and provide evidence for the hypotheses and economic arguments. |
3 |
10) |
Understand the information and changes related to the economy by using a foreign language and communicate with colleagues. |
3 |