Introduction to Economics(ECON191)
| Course Code | Course Name | Semester | Theory | Practice | Lab | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| ECON191 | Introduction to Economics | 1 | 3 | 0 | 0 | 3 | 4 |
| Prerequisites | |
| Admission Requirements |
| Language of Instruction | French |
| Course Type | Compulsory |
| Course Level | Bachelor Degree |
| Course Instructor(s) | Ayça AKARÇAY aakarcay@gmail.com (Email) |
| Assistant | |
| Objective | This course aims to introduce students of International Relations to the study of economics. The purpose of this course is to teach fundamental lessons of economics such as the law of demand and the law of supply, the application of elasticity, the price mechanism, the costs of production, firm behavior and types of markets (competitive markets, monopoly, monopolistic competition, oligopoly), the markets for the factors of production and the theory of consumer choice. |
| Content | See Subject Headings (Topics) |
| Course Learning Outcomes |
1) Explain basic concepts in economics such as supply and demand, the market, price mechanism and market equilibrium 2) Use basic microeconomic models to study the ways in which economic agents make decisions in the market place. 3) Discuss the functioning of markets, determination of market equlibrium and forms of competition in various types of markets 4) Explain firm behavior (i.e. profit maximisation and cost minimization practices of firms) 5) Explain why monopolies arise, the welfare costs of monopoly and public policies towards monopolies 6) Use basic tools of game theory for studying economics of cooperation 7) Analyze the economics of labor markets, the markets for the factors of production |
| Teaching and Learning Methods | Lecture classes |
| References |
Mankiw, G.N. (1998). Principes De l’Economie. Paris: Economica Stiglitz, J. E., Walsh, C.E. & Lafay, J.D. (2007). Principes d’économie moderne. Paris : De Boeck. |
Theory Topics
| Week | Weekly Contents |
|---|---|
| 1 | Introduction |
| 2 | The object of microeconomics |
| 3 | The Market forces of Demand and Supply |
| 4 | Elasticity and its application |
| 5 | Demand, Supply and government policies |
| 6 | Consumers, producers and the efficiency of markets |
| 7 | The costs of production Firms in Competitive Markets |
| 8 | Midterm exam |
| 9 | Monopoly |
| 10 | Oligopoly |
| 11 | Monopolistic competition |
| 12 | The Markets for the factors of production |
| 13 | The Theory of Consumer Choice |
| 14 | Externalities |
Practice Topics
| Week | Weekly Contents |
|---|
Contribution to Overall Grade
| Number | Contribution | |
|---|---|---|
| Contribution of in-term studies to overall grade | 3 | 50 |
| Contribution of final exam to overall grade | 1 | 50 |
| Toplam | 4 | 100 |
In-Term Studies
| Number | Contribution | |
|---|---|---|
| Assignments | 0 | 0 |
| Presentation | 0 | 0 |
| Midterm Examinations (including preparation) | 1 | 40 |
| Project | 0 | 0 |
| Laboratory | 0 | 0 |
| Other Applications | 0 | 0 |
| Quiz | 2 | 10 |
| Term Paper/ Project | 0 | 0 |
| Portfolio Study | 0 | 0 |
| Reports | 0 | 0 |
| Learning Diary | 0 | 0 |
| Thesis/ Project | 0 | 0 |
| Seminar | 0 | 0 |
| Other | 0 | 0 |
| Toplam | 3 | 50 |
| No | Program Learning Outcomes | Contribution | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | The acquisition of high-level knowledge of the functions of production management and marketing, management, accounting and finance; the skill of using this knowledge. | X | ||||
| 2 | The acquisition of basic conceptual knowledge about scientific fields related to professional life, such as law, economics, sociology, psychology, social psychology and quantitative methods. | X | ||||
| 3 | The ability to work effectively in a team; the ability to pass on knowledge to other members of the team. | X | ||||
| 4 | The competence to use his/her knowledge on the field, to analyze and interpret the data obtained, to identify the problems encountered, to provide appropriate solutions and scientifically defend these solution suggestions when necessary. | |||||
| 5 | The competence to determine the aims and objectives of the company or institution in which he/she is employed by taking into account the needs, the competitive dynamics of the market and by calculating the risks incurred; the ability to engage in entrepreneurship and establish and manage a business. | X | ||||
| 6 | Awareness of constantly updating his/her professional knowledge and skills; the ability to adapt to change and innovation; the competence to evaluate critically the information he/she has acquired. | X | ||||
| 7 | Basic knowledge of information and communication technologies required for professional life; the ability to use core office programs at an advanced level; expertise in data processing and report writing in the IT environment. | X | ||||
| 8 | Ability to follow current information in his/her field in both English and French and to communicate in writing and verbally with stakeholders in both languages. | X | ||||
| 9 | The ability to conduct researches and studies taking into account the market, dynamics of competition, organizational and global factors and scientific methods; contribute to projects, take responsibility in projects, display competence to make innovative and effective decisions. | X | ||||
| 10 | Ability to develop strategies, find creative solutions to management problems by building relations with other areas of the social sciences and take the responsibility of these decisions. | X | ||||
| Activities | Number | Period | Total Workload |
|---|---|---|---|
| Class Hours | 14 | 3 | 42 |
| Working Hours out of Class | 8 | 4 | 32 |
| Midterm Examinations (including preparation) | 1 | 8 | 8 |
| Final Examinations (including preparation) | 1 | 10 | 10 |
| Quiz | 2 | 4 | 8 |
| Total Workload | 100 | ||
| Total Workload / 25 | 4.00 | ||
| Credits ECTS | 4 | ||