| Code | Name of the Course Unit | Semester | In-Class Hours (T+P) | Credit | ECTS Credit |
|---|---|---|---|---|---|
| EKF109 | INTRODUCTION TO ECONOMICS I | 2 | 3 | 3 | 4 |
Objectives and Contents |
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|---|---|
| Objectives: | 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. |
| Content: | 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. |