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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
ECO1211	Introduction to Economics I	Spring	3	0	3	8

This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester.

Basic information

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.

Learning Outcomes

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.

Course Content

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

Weekly Detailed Course Contents

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

Sources

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

Evaluation System

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

ECTS / Workload Table

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

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)	To prepare students to become communication professionals by focusing on strategic thinking, professional writing, ethical practices, and the innovative use of both traditional and new media	2
2)	To be able to explain and define problems related to the relationship between facts and phenomena in areas such as Advertising, Persuasive Communication, and Brand Management
3)	To critically discuss and interpret theories, concepts, methods, tools, and ideas in the field of advertising
4)	To be able to follow and interpret innovations in the field of advertising
5)	To demonstrate a scientific perspective in line with the topics they are curious about in the field.
6)	To address and solve the needs and problems of the field through the developed scientific perspective
7)	To recognize and understand all the dynamics within the field of advertising
8)	To analyze and develop solutions to problems encountered in the practical field of advertising