Introduction to Economics (RI121)
| Course Code | Course Name | Semester | Theory | Practice | Lab | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| RI121 | 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) | Selin PELEK pelekselin@gmail.com (Email) |
| Assistant | |
| Objective | This course aims to familiarize students in international relations with the basic concepts of microeconomics. By the end of the term, the student will be able to analyze the factors influencing supply and demand in a market, the economic determinants affecting consumer choice, and the behavior of firms in different market structures such as perfect competition, monopolistic competition, monopoly, and oligopoly. |
| Content | See weekly topics. |
| Course Learning Outcomes |
1. Explain basic concepts in economics, such as supply and demand, the price mechanism, and market equilibrium. 2. Use basic microeconomic models to study how economic agents make decisions in the marketplace. 3. Discuss the functioning of markets, the determination of market equilibrium, and various forms of competition in different types of markets. 4. Explain firm behavior, including profit maximization and cost minimization practices. 5. Explain the reasons for the emergence of monopolies, the welfare costs associated with monopoly, and public policies toward monopolies. 6. Utilize fundamental tools of game theory. 7. Analyze the markets for factors of production, including the labor market. |
| Teaching and Learning Methods | Lectures |
| References |
Mankiw, Gregory N. & Taylor, Mark P. (2013). Principes de l’économie. Bruxelles : De Boeck. 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 | To have a detailed knowledge on the principal concepts, actors and components of the international system | X | ||||
| 2 | To master the fundamentals such as history, law, economics, sociology and political science required by the multidisciplinary nature of International Relations | X | ||||
| 3 | Pouvoir analyser la pratique à partir d’une infrastructure théorique assimilée | X | ||||
| 4 | To have acquired the capability of specializing on a particular theme and/or region | |||||
| 5 | In the light of Galatasaray University’s traditional and institutional links with Europe, to have developed the ability to contribute to Turkey’s accession process to the EU in a concrete manner | X | ||||
| 6 | To interpret and explain Turkish foreign policy through its domestic components as well as from the perspective of the international system | X | ||||
| 7 | To have reached the necessary level of competence to be able to undertake a career at the Ministry of Foreign Affairs as well as other state institutions and/or the private sector | X | ||||
| 8 | Possess the required skills to work at various international organizations and NGOs | X | ||||
| 9 | To be in perfect command of French, teaching language of Galatasaray University, and of English, its mandatory language, at the academic -with a view to write a thesis/project/book in the field of International Relations- as well as the professional level | X | ||||
| 10 | To have the capacity to utilize the methodological instruments acquired throughout the studies at any conceptual and/or academic work | 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 | ||