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INTRODUCTION TO ECONOMICS I PROGRAMME COURSE DESCRIPTION

Code Name of the Course Unit Semester In-Class Hours (T+P) Credit ECTS Credit
ECF109 INTRODUCTION TO ECONOMICS I 1 3 3 4

GENERAL INFORMATION

Language of Instruction : English
Level of the Course Unit : BACHELOR'S DEGREE, TYY: + 6.Level, EQF-LLL: 6.Level, QF-EHEA: First Cycle
Type of the Course : Compulsory
Mode of Delivery of the Course Unit Face to face
Coordinator of the Course Unit Prof.Dr. ŞENOL DURGUN
Instructor(s) of the Course Unit Assist.Prof.Dr. ANDREW ADEWALE ALOLA

OBJECTIVES AND CONTENTS

Objectives of the Course Unit: The objective of this course to enable students to interpret the decision mechanisms of consumers, producers and the state by using the basic principles of economics.
Contents of the Course Unit: Contents of the Course include; the basic concepts of economics such as need, demand, utility, value, price, scarcity, rationality and opportunity cost, law of supply and demand, market equilibrium, elasticities, price controls of governments and their effects on market equilibrium, consumer behavior within the framework of cardinal and ordinal approaches, theory of production, production costs, the functioning of different markets, factor markets and income distribution.

KEY LEARNING OUTCOMES OF THE COURSE UNIT (On successful completion of this course unit, students/learners will or will be able to)

Describe the basic concepts of economics.
Explain the changes in market equilibrium using concepts such as supply-demand law, flexibility and price control.
Interpret consumer behavior by using the concepts of total utility, marginal utility and budget constraint.
Interpret producer behavior by using the concepts of total cost, marginal cost and budget constraint.
Interpret the equilibrium formation at different markets by using production costs.

WEEKLY COURSE CONTENTS AND STUDY MATERIALS FOR PRELIMINARY & FURTHER STUDY

Week Preparatory Topics(Subjects) Method
1 Review of course syllabus Introduction of the course and course syllabus. Fundamentals of economics, its importance and relation with other sciences Introduction to basic concepts Lecture, question and answer
2 Reading the related chapter from lecture sources. Monitoring of current economic developments. Demand Lecture, Case Study
3 Reading the related chapter from lecture sources. Monitoring of current economic developments. Supply Lecture, Case Study
4 Reading the related chapter from lecture sources. Monitoring of current economic developments. Market Equilibrium Lecture, Case Study
5 Reading the related chapter from lecture sources. Monitoring of current economic developments. Elasticity Lecture, Case Study
6 Reading the related chapter from lecture sources. Monitoring of current economic developments. Price controls of governments and supply-demand equilibrium: Minimum and maximum price practice, minimum wage Lecture, Case Study
7 Reading the related chapter from lecture sources. Monitoring of current economic developments. Price controls of governments and supply-demand equilibrium: Rent controls, taxation Lecture, Case Study
8 - MID-TERM EXAM -
9 Reading the related chapter from lecture sources. Monitoring of current economic developments. Consumer Behavior theory: Cardinal benefit approach Lecture, Problem Solving
10 Reading the related chapter from lecture sources. Monitoring of current economic developments. Consumer Behavior theory: Ordinal benefit approach Lecture, Problem Solving
11 Reading the related chapter from lecture sources. Monitoring of current economic developments. Production theory Lecture
12 Reading the related chapter from lecture sources. Monitoring of current economic developments. Production costs Lecture
13 Reading the related chapter from lecture sources. Monitoring of current economic developments. Markets: Full competition market, Monopoly market Markets: Monopolist competition market, Oligopoly market Lecture
14 Reading the related chapter from lecture sources. Monitoring of current economic developments. Factor markets and distribution of income Lecture
15 Preparation of questions for past week subjects General review Lecture, question and answer
16 - FINAL EXAM -
17 - FINAL EXAM -

SOURCE MATERIALS & RECOMMENDED READING

Dobson, S. Susan Palfreman (1999). Introduction to Economics. Oxford Press.
Samuelson, P. A. William D.Nordhause(2016). Economics. 19 th Edition McGraw Hill. New York.
McEachern, W. A. (2006). Economics: A Contemporary Introduction. USA: Thomson South-Western.

ASSESSMENT

Assessment & Grading of In-Term Activities Number of Activities Degree of Contribution (%) Description
Mid-Term Exam 1 50
Final Exam 1 50
TOTAL 2 100
Level of Contribution
0 1 2 3 4 5

CONTRIBUTION OF THE COURSE UNIT TO THE PROGRAMME LEARNING OUTCOMES

KNOWLEDGE

Theoretical

Programme Learning Outcomes Level of Contribution
0 1 2 3 4 5
1
Define the basic theoretical, political, economic and administrative theories used in the field of Political Science and International Relations.
3
2
Explain the political history, political ideas, intellectual accumulation of understanding international relations and the way that the history of diplomacy has passed from past to present.
2
3
List the norms of universal law and human rights, the principles of the modern legal system, the names of modern bureaucratic and administrative structures.
2

KNOWLEDGE

Factual

Programme Learning Outcomes Level of Contribution
0 1 2 3 4 5
1
Explain the Turkish state tradition, the influence of Islam, the accumulation of political thought and its historical background, and compare this accumulation with the current approaches.
1
2
Evaluate the chronological development of relations between political and diplomatic developments and political / diplomatic facts / events / ideas / actors from past to present.
1
3
Analyze the structure and functioning of actors, organizations and organizations that determine international relations.
0

SKILLS

Cognitive

Programme Learning Outcomes Level of Contribution
0 1 2 3 4 5
1
In the light of current theoretical debates, apply relevant concepts to current political and international developments.
3
2
Evaluate the Turkish political tradition, developments with the Turkic community.
0
3
Use information on the field when comparing the administrative structures of different countries and their diplomatic traditions.
0

SKILLS

Practical

Programme Learning Outcomes Level of Contribution
0 1 2 3 4 5
1
Formulate the current political developments, developments and arrangements in international relations in the historical and theoretical accumulation.
3
2
Analyze the functioning of modern political regimes in the light of political and public bureaucratic structures, regulations and developments.
0
3
Examine and analyze current political developments in the Balkans, the Middle East, Central Asia, North Africa and the Caucasus in terms of both Turkish political history and international relations discipline.
0

OCCUPATIONAL

Autonomy & Responsibility

Programme Learning Outcomes Level of Contribution
0 1 2 3 4 5
1
To conduct a field-specific study individually and to complete it with discipline and responsibility.
2
2
To assume duties and responsibilities in a team work as leader or team member and to fulfil them flawlessly.
3

OCCUPATIONAL

Learning to Learn

Programme Learning Outcomes Level of Contribution
0 1 2 3 4 5
1
Follow the political and administrative developments in the international political system and the bureaucratic organizations operating in this system.
0
2
Examine the international problems and conflicts, and the problems in the field of administration and politics in detail.
1

OCCUPATIONAL

Communication & Social

Programme Learning Outcomes Level of Contribution
0 1 2 3 4 5
1
Follow the current developments in the field of Political Science and International Relations and collaborate with leading names in the field.
2
2
Examine and analyze academic resources and the written and oral studies on the political developments in the region and the world, especially in the Middle East.
1
3
Debate in the field of political science and public administration with different target groups in multicultural environments.
4

OCCUPATIONAL

Occupational and/or Vocational

Programme Learning Outcomes Level of Contribution
0 1 2 3 4 5
1
With the current historical and theoretical knowledge of the field, suggest sustainable, organizational and administrative arrangements aimed at meeting specific goals and solving certain problems.
0
2
To follow latest developments in the field and direct personal studies accordingly within the framework of the lifelong learning principle.Using the theoretical, economic, political and managerial knowledge, and produce reports on current developments, conflicts and agreements in geography related to world politics and especially in the Middle East.
0
3
Construct arguments on the current developments in Turkish politics in the light of the laws, regulations, and the important changes in the constitution and administrative law that determine Turkish political life and foreign relations.
0

WORKLOAD & ECTS CREDITS OF THE COURSE UNIT

Workload for Learning & Teaching Activities

Type of the Learning Activites Learning Activities (# of week) Duration (hours, h) Workload (h)
Lecture & In-Class Activities 14 3 42
Preliminary & Further Study 13 1 13
Land Surveying 0 0 0
Group Work 0 0 0
Laboratory 0 0 0
Reading 0 0 0
Assignment (Homework) 0 0 0
Project Work 0 0 0
Seminar 0 0 0
Internship 0 0 0
Technical Visit 0 0 0
Web Based Learning 0 0 0
Implementation/Application/Practice 0 0 0
Practice at a workplace 0 0 0
Occupational Activity 0 0 0
Social Activity 0 0 0
Thesis Work 0 0 0
Field Study 0 0 0
Report Writing 0 0 0
Final Exam 1 1 1
Preparation for the Final Exam 7 4 28
Mid-Term Exam 1 1 1
Preparation for the Mid-Term Exam 5 4 20
Short Exam 0 0 0
Preparation for the Short Exam 0 0 0
TOTAL 41 0 105
Total Workload of the Course Unit 105
Workload (h) / 25.5 4,1
ECTS Credits allocated for the Course Unit 4,0