COURSE INTRODUCTION AND APPLICATION INFORMATION


Course Name
Principles of Macroeconomics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 102
Spring
3
0
3
6
Prerequisites
None
Course Language
English
Course Type
Required
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course
Course Coordinator
Course Lecturer(s) -
Assistant(s) -
Course Objectives The course provides students with a framework of and the ability to evaluate key macroeconomic concepts facing capitalist economies such as unemployment, inflation, and output growth. The course also equips students with some elementary mathematical techniques to solve numerical or algebraic economic problems in applying key macreoconomic concepts. The focus of the course is to teach students models motivated by facts from history, experiments, and data. To use insights on the economy from a wide range of historical, geographical, disciplinary and methodological perspectives is another focus of the course. Students will be well prepared to tackle the issues covered in the more advanced second year course “Macroeconomics".
Learning Outcomes The students who succeeded in this course;
  • Will be able to explain key macroeconomic variables such as unemployment and inflation and the measurement of such variables.
  • Will be able to explain how credit, banks, and money benefit mutual gains in a modern economy.
  • Will be able to explain how monetary policy and fiscal policy affect macroeconomic outcomes
  • Will be able to explain long run economic trends and short run economic fluctuations.
  • Will be able to explain the causes and effects of economic inequality
Course Description This course is intended to introduce the students to some basic macroeconomic concepts, with special emphasis on economic growth, inflation and unemployment. Credit market transactions, the determination of interest rates, the functions of money, banks and a nation's central bank are discussed. Current problems of inflation and unemployment are explored and the tools available to the government to deal with these economic problems, and their limitations are analyzed. This course analyzes trends in living standards in the long-run and economic fluctuations in the short-run. The effects of production and distribution of goods and services on environment are discussed. The course also covers the concepts of economic inequality and networked economy.
Related Sustainable Development Goals

 



Course Category

Core Courses
X
Major Area Courses
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Required Materials
1 Banks money, and the credit market The CORE Project, Chapter 10
2 Economic fluctuations and unemployment The CORE Project, Chapter 13
3 Economic fluctuations and unemployment The CORE Project, Chapter 13
4 Unemployment and fiscal policy; Inflation, Unemployment and Monetary Policy The CORE Project, Chapters 14 and 15
5 Inflation, Unemployment and Monetary Policy & Midterm Exam (September 3, 2020) The CORE Project, Chapter 15
6 The Great Depression, golden age, and global financial crisis The CORE Project, Chapter 16
7 Technolological Progress, employment, and living standards in the long run; The Nation and the World Economy The CORE Project, Chapters 17 and 18
8 Review of the Semester  
9 Review of the Semester  
10 Review of the Semester  
11 Review of the Semester  
12 Review of the Semester  
13 Review of the Semester  
14 Review of the Semester  
15 Review of the Semester  
16 Review of the Semester  
Course Notes/Textbooks The Economy e-book is available at http://www.core-econ.org/. Every student must register on this website to access the free e-book. Assignments which make up 20% of your final grade will be given through blackboard. The assignments will be graded in blackboard and your instructors are going to see your grades online.
Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
15
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
35
Presentation / Jury
Project
Seminar / Workshop
Oral Exam
Midterm
1
25
Final Exam
1
30
Total

Weighting of Semester Activities on the Final Grade
17
70
Weighting of End-of-Semester Activities on the Final Grade
1
30
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: 16 x total hours)
16
 
Study Hours Out of Class
16
2
32
Field Work
 
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
35
Presentation / Jury
 
Project
 
Seminar / Workshop
Oral Exam
Midterms
1
20
Final Exams
1
30
    Total
165

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field.

X
2

To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies.

X
3

To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.

4

To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals.

X
5

To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires.

6

To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.

7

To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output.

X
8

To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society.

9

To be able to take the responsibility as an individual and as a team member.

10

To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.

X
11

To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1)

X
12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout human history to their field of economics.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest