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	-
Coordinator of the Course Unit	Assoc.Prof. ONUR ÖZDEMİR
Instructor(s) of the Course Unit	Assist.Prof. REYHAN ÖZEŞ ÖZGÜR
Course Prerequisite	No

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	Fundamental Knowledge About The Science of Economics	Lecture, question and answer
2	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Supply and demand model	Lecture, Case Study
3	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Elasticity and its applications	Lecture, Case Study
4	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Demand Curve and consumer behavior	Lecture, Case Study
5	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Supply Curve and firm behavior	Lecture, Case Study
6	Reading the related chapter from lecture sources. Monitoring of current economic developments.	The interaction of people in the markets	Lecture, Case Study
7	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Costs and the changes of firms over time	Lecture, Case Study
8	-	MID-TERM EXAM	-
9	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Perfect Competition, Monopoly market	Lecture, Problem Solving
10	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Product differentiation	Lecture, Problem Solving
11	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Monopolistic competition and oligopoly	Lecture
12	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Labor Market, Taxes, Transfers, İncome Distribution, Public Goods and Externalities	Lecture
13	Reading the related chapter from lecture sources. Monitoring of current economic developments.	National Income	Lecture
14	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Employment, Unemployment, Inflation	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

Level of Contribution
0	1	2	3	4	5

KNOWLEDGE
Theoretical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Describe basic theories of microeconomics and macroeconomics by benefiting from assumptions and axioms.				3
2	Recognize the entries in the book and financial balance sheet of the business organization.	0
3	Define concepts, theories and principles of basic and subfields of international trade by adhering to the background knowledge.		1

KNOWLEDGE
Factual
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Summarize historical development of the international trade theories by adhering to the chronological order.	0
2	Use theoretical knowledge gained in the field of international trade in occupational practices and daily life.	0
3	Solve financial and legal problems confronted in international trade practices.	0

SKILLS
Cognitive
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Relate statistical raw data by benefiting from computer programs and relate data with one another in consideration of theoretical knowledge.	0
2	Evaluate developments in the world in consideration of common courses in the faculty with an intellectual perspective.			2

SKILLS
Practical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Interpret current events and facts in international trade based on advanced knowledge and skills from an analytical and systematic holistic view.	0

OCCUPATIONAL
Autonomy & Responsibility
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Relate knowledge about economic globalization and internationalization with current knowledge in the field.		1

OCCUPATIONAL
Learning to Learn
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Examine current economic policies applied over the gained advanced knowledge and skills by a critical approach.			2

OCCUPATIONAL
Communication & Social
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Explain demands in written or verbally by using the foreign language skill in business and social life effectively.	0
2	Tell knowledge, thoughts and solution offers regarding subjects in international trade to relevant stakeholders demands in written or verbally.		1
3	Design a healthy communication network for themselves in the business world by using social life skills.			2

OCCUPATIONAL
Occupational and/or Vocational
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Analyze current issues, events and problems by benefiting from theoretical and historical knowledge of international trade and economics.			2
2	Develop suggestions for international trade policies by determining economic problems in the macro level.		1
3	Apply commercial applications in consideration of knowledge gained in financing and management of international trade by being inclusive of international market	0
4	Discuss the effects of commercial and financial globalization processes on the income distribution, by benefiting from data.		1

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