Economıcs
Content
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
Course 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
Weekly Contents
| 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 |
Assessment System
| Activities | Number | Contribution |
|---|---|---|
| Contribution of in-term studies to overall grade | 3 | 50 |
| Contribution of final exam to overall grade | 1 | 50 |
| Total | 4 | 100 |
| Activities | 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 |
| Total | 3 | 50 |
Relation of Proficiency
| 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. | X | ||||
| 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 critically evaluate 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 researchs 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 to take the responsibility of these decisions. | X | ||||
| 11 | Consciousness of taking into account ethical values, when making decisions and being involved in business life. | X | ||||
| 12 | Awareness of the impact of practices related to his/her field on the global and social dimensions (universality of social rights, social justice, cultural values, environmental problems, sustainability, etc.) and their legal consequences. | X | ||||
ECTS
| 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 | ||