Economy(Mİ622)
| Course Code | Course Name | Semester | Theory | Practice | Lab | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| Mİ622 | Economy | 1 | 3 | 0 | 0 | 3 | 6 |
| Prerequisites | |
| Admission Requirements |
| Language of Instruction | Turkish |
| Course Type | Elective |
| Course Level | Masters Degree |
| Course Instructor(s) | Melik ERTUĞRUL mertugrul@gsu.edu.tr (Email) |
| Assistant | |
| Objective |
To provide insight into the efficient use of resources at firm and household levels by teaching the principles of microeconomics To teach the basics of supply and demand and the effects of events on supply and demand. To teach welfare economics and equilibrium in various market structures, and production & profit levels related to the concept of elasticity, To provide interpretation of basic macroeconomic indicators by teaching concepts such as GDP, inflation, unemployment, savings, investments, monetary system and open economies To teach the effects of FinTechs and blockchain technology on the economy and giving an idea about the future economic system |
| Content |
Lecture 1: Principles of economics (Ch#1), Thinking like an economist (Ch#2), Interdependence and the gains from trade (Ch#3) Lecture 2: Consumer theory & behavior (Ch#21), Supply & demand (Ch#4) Lecture 3: Elasticity and its applications (Ch#5), Public goods and common resources & externalities (Ch#11, 10) Lecture 4: Consumers, producers & market efficiency (Ch#6, 7), Costs of taxation & international trade (Ch#8, 9) Lecture 5: Production theory & production costs (Ch#13) Lecture 6: Competitive market (Ch#14), Monopoly market (Ch#15) Lecture 7: Monopolistic competition (Ch#16), Oligopoly market (Ch#17) Lecture 8: National income (Ch#23, 12) Lecture 9: Inflation (Ch#24), Unemployment (Ch#28, 35) Lecture 10: Production, growth & development (Ch#25, 20) Lecture 11: Investments, savings & financial system (Ch#26) Lecture 12: Monetary system (Ch#29) Lecture 13: FinTechs Lecture 14: Blockchain technology & cryptocurrencies |
| Course Learning Outcomes |
A student who completes this course will be able to: 1. Learn the principles of microeconomics and has an idea about the efficient use of resources at the firm and household level. 2. Know the basics of supply and demand and the effects of events on supply and demand. 3. Know the concept of elasticity, welfare economics and production & profit levels associated with equilibrium in various market structures. 4. Learn concepts such as GDP, inflation, unemployment, savings, investments, monetary system and open economies and can interpret basic macroeconomic indicators. 5. Know the effects of FinTechs and blockchain technology on the economy and has an idea about the future economic system. |
| Teaching and Learning Methods |
Slides, library search, and internet sources. Students are required to follow the moodle page of the course on a regular basis! |
| References | Principles of Economics – G. Mankiw |
Theory Topics
| Week | Weekly Contents |
|---|---|
| 1 | Principles of economics (Ch#1), Thinking like an economist (Ch#2), Interdependence and the gains from trade (Ch#3) |
| 2 | Consumer theory & behavior (Ch#21), Supply & demand (Ch#4) |
| 3 | Elasticity and its applications (Ch#5), Public goods and common resources & externalities (Ch#11, 10) |
| 4 | Consumers, producers & market efficiency (Ch#6, 7), Costs of taxation & international trade (Ch#8, 9) |
| 5 | Production theory & production costs (Ch#13) |
| 6 | Competitive market (Ch#14), Monopoly market (Ch#15) |
| 7 | Monopolistic competition (Ch#16), Oligopoly market (Ch#17) |
| 8 | National income (Ch#23, 12) |
| 9 | Inflation (Ch#24), Unemployment (Ch#28, 35) |
| 10 | Production, growth & development (Ch#25, 20) |
| 11 | Investments, savings & financial system (Ch#26) |
| 12 | Monetary system (Ch#29) |
| 13 | FinTechs |
| 14 | Blockchain technology & cryptocurrencies |
Practice Topics
| Week | Weekly Contents |
|---|---|
| 1 | |
| 2 | |
| 3 | |
| 4 | |
| 5 | |
| 6 | |
| 7 | |
| 8 | |
| 9 | |
| 10 | |
| 11 | |
| 12 | |
| 13 | |
| 14 |
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 | 2 | 20 |
| Presentation | 0 | 0 |
| Midterm Examinations (including preparation) | 1 | 30 |
| Project | 0 | 0 |
| Laboratory | 0 | 0 |
| Other Applications | 0 | 0 |
| Quiz | 0 | 0 |
| 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 student will be able to use the knowledge and skills needed for upper echelons of management. | X | ||||
| 2 | The student will be able to identify the behaviors to minimize the risks by taking into account internal and external conditions that effect the organization. | X | ||||
| 3 | The student should have the general knowledge about labor law, sociology, psychology, organizational sociology, logistics and quantitative methods that can be needed out of basic management functions. | X | ||||
| 4 | The student should have a command of information and communication technologies that are needed for professional business life. | X | ||||
| 5 | The student should keep the competitive power of business at higher levels in the increasing globalization and competition conditions with following visionary applications. | X | ||||
| 6 | The student will be able to identify the changes that are in the internal and external environment of business and the problems which are caused by these changes in time. Also, the student should improve solutions for these problems and apply them. | X | ||||
| 7 | The student will be able to generate the solutions for managerial problems with the help of management games and simulation techniques. | X | ||||
| 8 | The student should make presentations and discuss managerial problems at least two foreign languages. | X | ||||
| 9 | The student will be able to tend towards practices of case study and sample event assessment and contribute the projects in which he/she serves. | X | ||||
| 10 | The student should get the responsibility in teamwork and contribute to team work. | X | ||||
| 11 | The student should get the habit of updating his technical skills to adjust the changing and improving scientific and technologic environment. | X | ||||
| 12 | The student should make a principle of behaving ethical in business life and guarding the interests of his colleagues and business stakeholders. | X | ||||
| Activities | Number | Period | Total Workload |
|---|---|---|---|
| Class Hours | 14 | 3 | 42 |
| Working Hours out of Class | 12 | 2 | 24 |
| Assignments | 2 | 18 | 36 |
| Midterm Examinations (including preparation) | 1 | 18 | 18 |
| Final Examinations (including preparation) | 1 | 25 | 25 |
| Total Workload | 145 | ||
| Total Workload / 25 | 5.80 | ||
| Credits ECTS | 6 | ||