Introduction to Economy (CNT109) | GSÜ

Content

Objective

The aim of this course is to familiarize students with the basic concepts and principles of economics.
For this purpose, basic economic concepts such as supply, demand, equilibrium, consumer and producer surplus,distribution and production will be examined.
Perfectly competitive markets, monopoly, oligopoly, and monopolistic competition markets will be discussed in the course

Course Content

1.,2.,3. Week: General introduction, area of interest of microeconomics, supply and demand,
The concept of elasticity and its economic applications
4.,5.,6. Week: Supply, demand and public policies, efficiency of markets,
applications
Week 7: Midterm exam
8.,9. Week: Production costs, perfectly competitive market
Week 10, 11: Monopoly market, applications
Week 12: Oligopoly market
Week 13: Monopolistic competition market
Week 14: Applications

Course Learning Outcomes

1. Can analyze microeconomic behavior.
2. Can evaluate the functioning of markets.
3. Can analyze economic problems.
4. Can read and interpret academic articles.

Teaching and Learning Methods

Theoretical lectures, applications, mid-term and final exams.

References

1. Mankiw, G. N. (1998). Principes de l’Economie. Paris, Economica.
2. Begg, D., Fischer, S., Dornbusch, R. (2003). Economics, McGraw-Hill

Weekly Contents

Theory Topics
Week	Weekly Contents
1
2
3
4
5
6
7
8
9
10
11
12
13
14

Assessment System

Contribution to Overall Grade
Activities	Number	Contribution
Contribution of in-term studies to overall grade	1	50
Contribution of final exam to overall grade	1	50
Total	2	100

In-Term Studies
Activities	Number	Contribution
Assignments	0	0
Presentation	0	0
Midterm Examinations (including preparation)	1	50
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
Total	1	50

Relation of Proficiency

No	Program Learning Outcomes	Contribution
No	Program Learning Outcomes	1	2	3	4	5
1	Knowledge and understanding of a wide range of basic sciences (math, physics, ...) and the main concepts of engineering
2	Ability to combine the knowledge and skills to solve engineering problems and provide reliable solutions
3	Ability to select and apply methods of analysis and modeling to ask, reformulate and solve the complex problems of industrial engineering
4	Ability to conceptualize complex systems, processes or products under practical constraints to improve their performance, ability to use innovative methods of design
5	Ability to design, select and apply methods and tools needed to solve problems related to the practice of industrial engineering, ability to use computer technology
6	Ability to design experiments, collect and interpret data and analyze results
7	Ability to work independently, ability to participate in working groups and have a multidisciplinary team spirit				X
8	Ability to communicate effectively, ability to speak at least two foreign languages				X
9	Awareness of the need for continuous improvement of lifelong learning, ability to keep abreast of scientific and technological developments to use the tools of information management				X
10	Awareness of professional and ethical responsibility			X
11	Knowledge of the concepts of professional life as "project management", "risk management" and "management of change"
12	Knowledge on entrepreneurship, innovation and sustainability			X
13	Understanding of the effects of Industrial Engineering applications on global and social health, environment and safety.
14	Knowledge of the problems of contemporary society
15	Knowledge of the legal implications of the practice of industrial engineering

ECTS

Activities	Number	Period	Total Workload
Class Hours	14	2	28
Working Hours out of Class	5	4	20
Assignments	1	2	2
Midterm Examinations (including preparation)	1	4	4
Final Examinations (including preparation)	1	4	4
Total Workload			58
Total Workload / 25			2.32
Credits ECTS			2