Introduction to Economics I

Course Code:

ECON 295

P:

3

Application:

0

Credits:

3

ECTS:

5

Course Language:

İngilizce

Course Objectives:

The primary objective of the course is to introduce the micro theory and its application to economic analysis.

Course Content:

This course aims to introduce the students to key microeconomic concepts and help them gain insight regarding past and current microeconomic problems. The purpose is to enhance the analytical assessment of real-world microeconomic issues based on economic reasoning. Topics are covered with an emphasis on understanding the concepts through quantitative and qualitative foundations.

Course Methodology:

1: Lecture, 2: Question-Answer, 3: Discussion, 12: Case Study

Course Evaluation Methods:

A: Testing, B: Experiment, C: Homework, Q: Quiz

Vertical Tabs

Course Learning Outcomes

Learning Outcomes	Program Learning Outcomes	Teaching Methods	Assessment Methods
Will have internalized fundamental concepts of microeconomics.	1,2,7	1,2,12	A
Will be able to select the appropriate microeconomic approach depending on the challenge.	1,2,7	1,2,3,12	A
Will be able to conduct analyses and identify areas that require microeconomic management and governance actions.	1,2,57	1,2,3,12	A
Will be able to relate findings with scientific research.	1,2,5,7	1,2,12	A
Will be able to share findings and recommendations related to the field of microeconomics with expert and non-expert audiences based on data.	1,2,5,7	1,2,3	A
Will act according to social, scientific, cultural, and ethical values while in the stages of data collection related to the field of macroeconomics, their analysis, interpretation, and the announcement of results related to microeconomic policy.	1,2,5,7	1,2,3,12	A

Course Flow

COURSE CONTENT
Week	Topics	Study Materials
1	Course organization, the syllabus, topics, expectations.
2	The Economic Problem: Scarcity and Choice	Readings from the textbook
3	Demand, supply, and market equilibrium.	Readings from the textbook
4	Demand and supply applications.	Readings from the textbook
5	Elasticity.	Readings from the textbook
6	Household behavior and consumer choice.	Readings from the textbook
7	Household behavior and consumer choice (cont'd) and review for the midterm.	Readings from the textbook
8	Midterm Exam	Q&A sessions with the instructor, reading the textbook and the class notes
9	The Production Process: The Behavior of Profit- Maximizing Firms	Readings from the textbook
10	Short-Run Costs and Output Decisions	Readings from the textbook
11	Monopoly and Antitrust Policy	Readings from the textbook
12	Oligopoly	Readings from the textbook
13	Monopolistic Competition	Readings from the textbook
14	Externalities, Public Goods, and Social Choice	Readings from the textbook

Recommended Sources

Textbook		Principles of Economics Twelfth Edition Carl E. Case, Ray C. Fair, Sharon E. Oster c 2017 Pearson ISBN-13: 978-1-292-15256-1
Additional Resources		Lecture slides, videos recorded by the instructor, lecture slides.

Material Sharing

Documents
Assignments
Exams		Midterm, Final Exam.

Assessment

ASSESSMENT
IN-TERM STUDIES	NUMBER	PERCENTAGE
Mid-terms	1	100
Quizzes (attendance, presentation, etc.)	0	0
Assignments	0	0
	Total	100
Contribution of Final Examination to Overall Grade		50
Contribution of In-Term Studies to Overall Grade		50
	Total	100
Course Category

Course’s Contribution to Program

COURSE'S CONTRIBUTION TO PROGRAM
No	Program Learning Outcomes	Contribution
		1	2	3	4	5
1	1. Students can keep themselves informed and analyze the current economic development in Turkey and in the world from an international political economy perspective paying a particular attention to the interaction of the Turkish economy with the global economy.				x
2	2. Being aware of the development and accumulation of economic thought, students can master qualitative and quantitative knowledge and methods to test various economic theories that can be applied to the analysis of the current economic problems.					x
3	3. Students can use statistical and econometric analyses by learning how to use information technologies that have validity and widespread use in the field of economics.		x
4	4. By learning how to learn in the field of economics, students can research and work individually or as a team using the Turkish and English academic resources.			x
5	5. Being aware of the ethical values, students know the individual, social and ecological dimensions of the concept of social responsibility and can prove that they understand the active citizenship duty that falls upon them within this framework.			x
6	6. Students can clearly express, present and share their knowledge, the outcomes of their studies, their ideas and comments to people in their field or other disciplines/units using the necessary data, in national and international academic and professional environments, in Turkish or English.			x
7	Students can show that understanding the universality of social rights and the concepts of social justice, which form the basis of the modern societies, and the importance of scientific perspective, which is necessary to the social development and global competitiveness.				x

ECTS

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COUSE DESCRIPTION
Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Course Duration (Including the Exam Week: 15 x total course hours)	15	3	45
Hours for off-the-classroom study (Pre-study, practice)	15	4	60
Mid-terms	1	8	8
Quizzes (attendance, presentation, etc.)	0	0	0
Assignments	0	0	0
Final Examination	1	12	12
Total Work Load			125
Total Work Load / 25 (s)			5
ECTS Credit of the Course			5

None

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