BAHÇEŞEHİR UNIVERSITY BİLGİ PAKETİ / DERS KATALOĞU
| ECONOMICS | |||||
| 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 |
| ECO4191 | Economic Analysis I | Fall | 3 | 0 | 3 | 6 |
Basic information
| Language of instruction: | English |
| Type of course: | Must Course |
| Course Level: | Bachelor’s Degree (First Cycle) |
| Mode of Delivery: | Hybrid |
| Course Coordinator : | Prof. Dr. ÜMİT EROL |
| Course Lecturer(s): |
Prof. Dr. ÜMİT EROL |
| Recommended Optional Program Components: | None |
| Course Objectives: | The purpose of the course is to provide an in-depth view of the Neo-Classical theory. The course initially reviews the contribution of Adam Smith, Ricardo and Marx in order to explain the reasons that stimulated the birth of Neo-Classical approach. The course emphasizes the Theory of Value in Neo-Classical approach and how it differs from the previous Labor Theory of Value. It then explains the fundamental logic and the purpose behind the analysis of market demand and supply curves. The course also emphasizes the theoretical approach to the labor supply, the foundations of intertemporal utility analysis and General Walrasian equilibrium. |
Learning Outcomes
|
The students who have succeeded in this course; 1. Knows the Neo classical theory 2. Knows the criticism of neo classical theory 3. Knows the operational rules of a market economy 4. Knows the essentials of costi profit and pricing 5. Knows the evaluation of economic theory from Adam Smith until today |
Course Content
| Week 1: Origins of Economic Thought: Adam Smith Week 2: The Role of Physics in Economic Methodology Week 3: The Labor Theory of Value Week 4: Ricardo and His Contributions Week 5: Marx and Surplus Value Week 6: Midterm Exam I Week 7: The Neo-Classical Theory of Value Week 8: The Neo-Classical Interpretation of Factor Markets and Employment Week 9: Why Competitive Market is Essential in Neo-Classical Approach Week 10: The Non-Competitive Markets Week 11: Midterm II Week 12: Extension of Neo-Classical Thought to Finance |
Weekly Detailed Course Contents
| Week | Subject | Related Preparation |
| 1) | Origins of Economic Thought: Adam Smith | |
| 2) | The Role of Physics in Economic Methodology | |
| 3) | The Labor Theory of Value | |
| 4) | Ricardo and His Contributions | |
| 5) | Marx and Surplus Value | |
| 6) | Review | |
| 7) | The Neo-Classical Theory of Value | |
| 8) | The Neo-Classical Interpretation of Factor Markets and Employment | |
| 9) | Why Competitive Market is Essential in Neo-Classical Approach | |
| 10) | The Non-Competitive Markets | |
| 11) | Review | |
| 12) | Extension of Neo-Classical Thought to Finance | |
| 13) | The Neo-Classical Theory of Capital | |
| 14) | Neo-Classical Growth Theory |
Sources
| Course Notes / Textbooks: | Economic Thought in Retrospect; M.Blaug; Dryden Press,1962 |
| References: |
Evaluation System
| Semester Requirements | Number of Activities | Level of Contribution |
| Homework Assignments | 2 | % 20 |
| Midterms | 1 | % 30 |
| Final | 1 | % 50 |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 50 | |
| PERCENTAGE OF FINAL WORK | % 50 | |
| Total | % 100 | |
ECTS / Workload Table
| Activities | Number of Activities | Workload |
| Course Hours | 14 | 40 |
| Study Hours Out of Class | 16 | 97 |
| Midterms | 2 | 4 |
| Final | 1 | 2 |
| Total Workload | 143 | |
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) | As a world citizen, she is aware of global economic, political, social and ecological developments and trends. | 4 |
| 2) | He/she is equipped to closely follow the technological progress required by global and local dynamics and to continue learning. | 2 |
| 3) | Absorbs basic economic principles and analysis methods and uses them to evaluate daily events. | 5 |
| 4) | Uses quantitative and statistical tools to identify economic problems, analyze them, and share their findings with relevant stakeholders. | 4 |
| 5) | Understands the decision-making stages of economic units under existing constraints and incentives, examines the interactions and possible future effects of these decisions. | 5 |
| 6) | Comprehends new ways of doing business using digital technologies. and new market structures. | 2 |
| 7) | Takes critical approach to economic and social problems and develops analytical solutions. | 5 |
| 8) | Has the necessary mathematical equipment to produce analytical solutions and use quantitative research methods. | 3 |
| 9) | In the works he/she contributes, observes individual and social welfare together and with an ethical perspective. | 3 |
| 10) | Deals with economic problems with an interdisciplinary approach and seeks solutions by making use of different disciplines. | 4 |
| 11) | Generates original and innovative ideas in the works she/he contributes as part of a team. | 2 |