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	Assist.Prof. ÇAĞLA TUĞBERK ARIKER
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	Define the theories, concepts and principles of the basic and sub-fields of business.			2
2	Explain business functions and processes based on current scientific sources.			2

KNOWLEDGE
Factual
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Relate internationally valid business cases with the theories and concepts of other social sciences.			2

SKILLS
Cognitive
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Explain the current events and facts in his / her field analytically and systematically based on advanced knowledge and skills he / she has.					4

SKILLS
Practical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Use the theoretical and factual knowledge in business for occupational practices.		1
2	Solve individual and organizational problems in business life.		1
3	Use computer programs (SPSS, R, Excel, Stata) efficiently against the complex business problems.		1

OCCUPATIONAL
Autonomy & Responsibility
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Plan research and work using knowledge and skills gained in the field of business.		1
2	Organize the activities for organizational goals and purposes independently.			2

OCCUPATIONAL
Learning to Learn
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Criticize advanced knowledge and skills in the field with a critical approach.					4
2	Develop the existing knowledge and skills with a critical point of view under the impact of scientific, technological and current developments.					4

OCCUPATIONAL
Communication & Social
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Express his/her knowledge, thoughts and solutions on business to related stakeholders in written and verbal ways.		1
2	Use the information and communication technology software and equipment required for business.		1

OCCUPATIONAL
Occupational and/or Vocational
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Apply the social, scientific, cultural and ethical values at the stages of collection of data, their implementation, interpretation and announcement of results in the field of business.		1
2	Relate the concepts of social rights, occupational safety, employee health, quality management and sustainability with the cases in business life.				3

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