ECO1211 Introduction to Economics IBahçeşehir UniversityDegree Programs TEXTILE AND FASHION DESIGNGeneral Information For StudentsDiploma SupplementErasmus Policy StatementBologna CommissionNational Qualifications
TEXTILE AND FASHION DESIGN
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) Understands the principles of artistic creation and basic design and applies the art and design objects he creates within this framework.
2) Conducts the multifaceted research required for textile and fashion design processes and analyzes and interprets the results.
3) Creates original and applicable fabric, clothing and pattern designs by using elements from different historical periods and cultures in accordance with his purpose.
4) Recognizes textile raw materials and equipments.
5) Uses computer programs effectively in the garment and fabric surface design process.
6) Has professional technical knowledge regarding the implementation of clothing designs and production; In this context, recognizes and uses technological tools and equipment.
7) Understands the importance of interdisciplinary interaction and communication in textile and clothing design-production-presentation processes and reflects this on the processes.
8) Works in a programmed and disciplined manner in professional practices.
9) Realizes the necessity of lifelong learning to maintain his productivity, creativity and professional competence.
10) Understands, adopts and applies ethical responsibilities in professional practices; Has knowledge of relevant legal regulations.
11) Establishes effective visual, written and verbal communication in the field of textile and fashion design.
12) Reflects his knowledge on current and contemporary issues from all fields to his professional theoretical and practical studies on textile and clothing design; Understands the social and universal effects of these issues.
13) Has sufficient awareness about social justice, environmental awareness, quality culture and protection of cultural values.