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	2	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	Prof. MUSTAFA KÖKSAL
Instructor(s) of the Course Unit	Assist.Prof. ŞÜKRAN KAHVECİ
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	The nature of economics	Lecture, question and answer
2	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Demand	Lecture, question and answer
3	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Supply and market balance	Lecture, question and answer
4	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Elasticity	Lecture, question and answer
5	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Consumer theory	Lecture, question and answer
6	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Production	Lecture, question and answer
7	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Costs	Lecture, question and answer
8	-	MID-TERM EXAM	-
9	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Theory of the firm: perfect competition	Lecture, question and answer
10	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Monopoly	Lecture, question and answer
11	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Theory of the firm: monopolistic competition and oligopoly	Lecture, question and answer
12	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Wage, rent and profit	Lecture, question and answer
13	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Regulation, deregulation and competition	Lecture, question and answer
14	Reading the related chapter from lecture sources. Monitoring of current economic developments.	Environment	Lecture, question and answer
15	Preparation of questions for past week subjects	Question Solution with Examples	Lecture, question and answer
16	-	FINAL EXAM	-
17	-	FINAL EXAM	-

SOURCE MATERIALS & RECOMMENDED READING
Ison, Stephen and Wall, Stuart (2007). Economics. FT Prentice Hall.

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	Summarizing basic and advanced topics in International Trade and Business.
2	To define the theories, concepts and principles of International Trade and Business and its sub-fields.
3	Interpreting the relationship of International Trade and Business with other disciplines.
4	Using the theoretical knowledge gained in the field of International Trade and Business in professional practices and daily life.

KNOWLEDGE
Factual
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Explaining current events and phenomena in the field with a holistic perspective analytically and systematically based on advanced knowledge and skills.
2	Solving problems encountered in business life, at individual and organizational level.
3	Effective use of computer programs (such as SPSS, R, Excel, Stata) in the face of complex business problems.
4	Evaluating the developments in the world from an intellectual perspective in the light of the joint faculty courses taken.

SKILLS
Cognitive
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Recognizing new theoretical and practical approaches in the field of International Trade and Business.
2	Recognize the relevant literature effectively.
3	Independently organize activities towards organizational goals and objectives.

SKILLS
Practical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	To conduct qualitative and quantitative research on the subjects related to the field.

OCCUPATIONAL
Autonomy & Responsibility
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	To be able to work independently in the light of the knowledge gained in the field of International Trade and Business and to take responsibility for the work done.

OCCUPATIONAL
Learning to Learn
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Adopting the philosophy of lifelong learning.

OCCUPATIONAL
Communication & Social
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Using foreign language skills effectively in business and social life, explaining their demands in writing or verbally.
2	To design a healthy communication network in the business world by using social life skills.

OCCUPATIONAL
Occupational and/or Vocational
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Benefiting from the theoretical and historical knowledge of international trade and business; analyzes current issues, events and problems.
2	Continually improving their knowledge of the structure and characteristics of the variables of international trade and business.

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