| 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;
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| 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 | |
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| Core Courses | |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses | X |
| 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 |
| 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 |
| 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 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To be able to identify and analyze problems in the field of trade and finance, and to develop solutions. | X | ||||
| 2 | To be able to use the theoretical and practical knowledge gained in the field of International Trade and Finance. | X | ||||
| 3 | To be able to analyze the developments in global markets by using critical thinking skills. | X | ||||
| 4 | To be able to analyze and interpret data in the field of finance, commerce and economics by using information technologies effectively. | X | ||||
| 5 | To be able to acquire knowledge about the legal regulations and practices in the field. | X | ||||
| 6 | To be able to foresee and define the risks that could be encountered in the field of trade and finance and to take decisions to manage such risks. | X | ||||
| 7 | To be able to acquire and use verbal and numerical skills necessary for the nature of the International Trade and Finance program. | X | ||||
| 8 | To be able to obtain, synthesize and report the information related to the fields of trade and finance. | X | ||||
| 9 | To be able to contribute to the solution of problems as individual, team member or leader. | |||||
| 10 | To be able to evaluate the issues related to the field with an ethical perspective and social sensitivity. | |||||
| 11 | To be able to collect data in the areas of International Trade and Finance and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1). | |||||
| 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 expertise. | |||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
