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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
ECO1212	Introduction to Economics II	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 :	Assoc. Prof. ÇAĞLAR YURTSEVEN
Course Lecturer(s):	Assist. Prof. AYSE ERTUĞRUL BAYKAN Assoc. Prof. 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.

Learning Outcomes

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

Course Content

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

Weekly Detailed Course Contents

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.)

Sources

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.

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	3	16	48
Application	13	1	13
Study Hours Out of Class	13	10	130
Midterms	1	2	2
Final	1	2	2
Total Workload			195

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 be able to apply theoretical concepts related to mass communication, consumer behavior, psychology, persuasion,sociology, marketing, and other related fields to understand how advertising and brand communication works in a free-market economy.	2
2)	To be able to critically discuss and interpret theories, concepts, methods, tools and ideas in the field of advertising.	2
3)	To be able to research, create, design, write, and present an advertising campaign and brand strategies of their own creation and compete for an account as they would at an advertising agency.	2
4)	To be able to analyze primary and secondary research data for a variety of products and services.	2
5)	To be able to develop an understanding of the history of advertising as it relates to the emergence of mass media outlets and the importance of advertising in the marketplace.	2
6)	To be able to follow developments, techniques, methods, as well as research in advertising field; and to be able to communicate with international colleagues in a foreign language. (“European Language Portfolio Global Scale”, Level B1)	2
7)	To be able to take responsibility in an individual capacity or as a team in generating solutions to unexpected problems that arise during implementation process in the Advertising field.	3
8)	To be able to understand how advertising works in a global economy, taking into account cultural, societal, political, and economic differences that exist across countries and cultures.	2
9)	To be able to approach the dynamics of the field with an integrated perspective, with creative and critical thinking, develop original and creative strategies.	2
10)	To be able to to create strategic advertisements for print, broadcast, online and other media, as well as how to integrate a campaign idea across several media categories in a culturally diverse marketplace.	2
11)	To be able to use computer software required by the discipline and to possess advanced-level computing and IT skills. (“European Computer Driving Licence”, Advanced Level)	2
12)	To be able to identify and meet the demands of learning requirements.	2
13)	To be able to develop an understanding and appreciation of the core ethical principles of the advertising profession.	2