| MATHEMATICS | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| ECO1212 | Introduction to Economics II | 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): |
Assist. Prof. AYSE ERTUĞRUL BAYKAN Prof. Dr. ÇAĞLAR YURTSEVEN |
| Recommended Optional Program Components: | None |
| Course Objectives: | Introduction to Economics-II is an introduction to the fundamentals of macroeconomics. Emphasis will be given to study of the aggregate economy with booms and recessions, the economy’s total production of goods and services, economic growth and unemployment, money supply and interest rates, fiscal and monetary policies and foreign exchange markets. The focus of the course is to look at long-run economic growth first and then at short-run business cycle fluctuations. |
|
The students who have succeeded in this course; 1. Identify the basic concepts of macroeconomics 2. Calculate Gross Domestic Product using the expenditures and income approach 3. Calculate the rate of inflation 4. Calculate the rate of unemployment 5. Explain the role of money and interest rates for the economic growth 6. Describe basic concepts of open-economy macroeconomics 7.Use the aggregate demand and aggregate supply model 8.Describe the influence of monetary and fiscal policy on aggregate demand 9.Identify the short-run trade-off between inflation and unemployment |
| The teaching methods of the course are Lecture and Problem Solving. National Income Accounts, Cost Of Living and Inflation, Output, Economic Growth and Well Being, Financial Markets and the way They Function, Employment, Unemployment and Economic Performance, Monetary Economics and Policy, Macroeconomics for Open Economies, Open Economy in the short and medium runs, Monetary anf Fiscal Policies, Phillips Curve and Inflation |
| Week | Subject | Related Preparation |
| 1) | Opening Lecture Overview of the course Why study Introduction to Economics II | Mankiw&Taylor Ch20 (4th ed.) |
| 2) | Measuring a nation’s well-being - National Income | Mankiw&Taylor Ch20 (4th ed.) |
| 3) | Measuring a nation’s well-being Cost of Living | Mankiw&Taylor Ch20 (4th ed.) |
| 4) | Production and Growth | Mankiw&Taylor Ch21 (4th ed.) |
| 5) | Unemployment | Mankiw&Taylor Ch22 (4th ed.) |
| 6) | Saving, Investment, and The Financial System | Mankiw&Taylor Ch23 (4th ed.) |
| 7) | The Monetary System | Mankiw&Taylor Ch24 (4th ed.) |
| 8) | Midterm Week | |
| 9) | Project submission | Deadline of the project TBA |
| 10) | Money Growth and Inflation | Mankiw&Taylor Ch24 (4th ed.) |
| 11) | Open-economy Macroeconomics | Mankiw&Taylor Ch25 (4th ed.) |
| 12) | Aggregate Demand and Aggregate Supply | Mankiw&Taylor Ch28 (4th ed.) |
| 13) | The influence of monetary and policy on aggregate demand | Mankiw&Taylor Ch33 (4th ed.) |
| 14) | Review Applications & Case Studies | The case studies a applications in Mankiw&Taylor (4th ed.) |
| Course Notes / Textbooks: | Economics, Gregory MANKIW & Mark P. TAYLOR, Cengage Publishing, 3rd, 4th or 5th edition (pay attention to chapter numbers in different editions, they are different). |
| References: | The following open-access e-books are recommended as supplementary textbooks: • Principles of Economics, Steven A. GREENLAW & Timothy TAYLOR, OpenStax • The Economy, The CORE Project The following books are strongly recommended to read during the semester: • The Undercover Economist Strikes Back, Tim HARFORD For videos: https://mru.org/principles-economics-macroeconomics-0 The following platform is strongly recommended to follow: • econlowdown.org Econlowdown is a free economic education portal developed by the central bank of the San Francisco, Federal Reserve Bank of St. Louis. It provides online modules, articles, videos and podcasts. To register to econlowdown, go to https://www.econlowdown.org. |
| 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 have a grasp of basic mathematics, applied mathematics and theories and applications in Mathematics | |
| 2) | To be able to understand and assess mathematical proofs and construct appropriate proofs of their own and also define and analyze problems and to find solutions based on scientific methods, | |
| 3) | To be able to apply mathematics in real life with interdisciplinary approach and to discover their potentials, | |
| 4) | To be able to acquire necessary information and to make modeling in any field that mathematics is used and to improve herself/himself, | 4 |
| 5) | To be able to tell theoretical and technical information easily to both experts in detail and non-experts in basic and comprehensible way, | |
| 6) | To be familiar with computer programs used in the fields of mathematics and to be able to use at least one of them effectively at the European Computer Driving Licence Advanced Level, | |
| 7) | To be able to behave in accordance with social, scientific and ethical values in each step of the projects involved and to be able to introduce and apply projects in terms of civic engagement, | |
| 8) | To be able to evaluate all processes effectively and to have enough awareness about quality management by being conscious and having intellectual background in the universal sense, | 4 |
| 9) | By having a way of abstract thinking, to be able to connect concrete events and to transfer solutions, to be able to design experiments, collect data, and analyze results by scientific methods and to interfere, | |
| 10) | To be able to continue lifelong learning by renewing the knowledge, the abilities and the competencies which have been developed during the program, and being conscious about lifelong learning, | |
| 11) | To be able to adapt and transfer the knowledge gained in the areas of mathematics ; such as algebra, analysis, number theory, mathematical logic, geometry and topology to the level of secondary school, | |
| 12) | To be able to conduct a research either as an individual or as a team member, and to be effective in each related step of the project, to take role in the decision process, to plan and manage the project by using time effectively. |