COURSE INTRODUCTION AND APPLICATION INFORMATION


Course Name
Principles of Economics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 100
Fall
3
0
3
4
Prerequisites
None
Course Language
English
Course Type
Required
Course Level
First Cycle
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives This course provides basic knowledge of micro and macroeconomics. The overall purpose of this course is to introduce the student to the concept of a market economy and to investigate how scarce resources are allocated under a price mechanism.Microeconomics topics such as market economies, demand, supply, consumer theory, the theory of the firm, perfect competition; and basic topics in macroeconomics such as national income, employment, unemployment, inflation and economic growth are analyzed.
Learning Outcomes The students who succeeded in this course;
  • Will be able to express what economists mean by the concept of scarcity.
  • Will be able to define basic economic concepts such as opportunity cost, elasticity, economic profit and marginal analysis.
  • Will be able to identify the determinants of demand and supply.
  • Will be able to predict a change in market outcomes given a change in supply or demand.
  • Will be able to explain the concept of market equilibrium.
  • Will be able to analyze firm behavior under perfect competition.
  • Will be able to measure key macroeconomic variables.
  • Will be able to find out basic relationships between the variables such as national income, unemployment, budget deficit, money supply, interest rate, inflation rate, exchange rate, and trade deficit.
Course Content This course provides an introduction to basic models and concepts in microeconomics and macroeconomics. Basic topics in microeconomics analyzed in this course include an introduction to market economies, supply and demand, consumer theory, the theory of the firm, perfect competition. Basic topics in macroeconomics analyzed in this course include national income, employment, unemployment, inflation, and economic growth.

 



Course Category

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

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 What is Economics? Parkin, Powel, Matthews; Essential Economics, Chapter 1 (Pearson Education Limited, European edition)
2 The Economic Problem Parkin, Powel, Matthews; Essential Economics, Chapter 2 (Pearson Education Limited, European edition)
3 Demand and Supply Parkin, Powel, Matthews; Essential Economics, Chapter 3 (Pearson Education Limited, European edition)
4 Demand and Supply Parkin, Powel, Matthews; Essential Economics, Chapter 3 (Pearson Education Limited, European edition)
5 Output and Costs Parkin, Powel, Matthews; Essential Economics, Chapter 6 (Pearson Education Limited, European edition)
6 Competitive Markets Parkin, Powel, Matthews; Essential Economics, Chapter 7 (Pearson Education Limited, European edition)
7 Review
8 Mid-term 1
9 Real GDP Parkin, Powel, Matthews; Essential Economics, Chapter 10 (Pearson Education Limited, European edition)
10 Monitoring Jobs and Inflation Parkin, Powel, Matthews; Essential Economics, Chapter 11 (Pearson Education Limited, European edition)
11 Financial Markets Parkin, Powel, Matthews; Essential Economics, Chapter 12 (Pearson Education Limited, European edition)
12 Financial Markets Parkin, Powel, Matthews; Essential Economics, Chapter 12 (Pearson Education Limited, European edition)
13 Money and Banking Parkin, Powel, Matthews; Essential Economics, Chapter 13 (Pearson Education Limited, European edition)
14 Growth, Inflation and Cycles Parkin, Powel, Matthews; Essential Economics, Chapter 15 (Pearson Education Limited, European edition)
15 Review
16 Review of the Semester  
Course Textbooks Parkin, Powel, Matthews; Essential Economics with MyEconLab Student Access Card, Pearson Education Limited 2012, European edition. Students MUST buy the book. Assignments which make up 20% of your final grade and the problem sets that will be used in the recitations will be given through the online system of the book called MyEconLab. The assignments will be graded in the system itself and your instructors will see your grades online. HENCE EVERY STUDENT MUST BUY THE BOOK TO BE ABLE TO REGISTER TO THIS SYSTEM BY USING THE ACCESS CODE THAT COMES WITH THE BOOK. NOTE: Students who took this course and failed in 2010-2011 academic year do not have to buy the book. MyEconLab Student Access Cards will be provided to these students, if they consult to the teaching assistant of the course.
References By going to the following link http://eco.ieu.edu.tr/en/econ100principleseconomics you will find a file containing detailed information on how to register to MyEconLab.

 

EVALUATION SYSTEM

Semester Requirements Number Percentage
Participation
16
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Homework / Assignments
6
20
Presentation / Jury
Project
Seminar / Workshop
Midterms / Oral Exams
1
35
Final / Oral Exam
1
35
Total

Contribution of Semester Work to Final Grade
23
65
Contribution of Final Work to Final Grade
1
35
Total

ECTS / WORKLOAD TABLE

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
15
2
Field Work
 
Quizzes / Studio Critiques
Homework / Assignments
6
3
Presentation / Jury
 
Project
 
Seminar / Workshop
Midterms / Oral Exams
1
16
Final / Oral Exam
1
16
    Total
128

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Qualifications / Outcomes
* Level of Contribution
1
2
3
4
5
1 To be able to critically discuss and interpret the theories, concepts and ideas that form the basis of media and communication discipline.
2 To have the fundamental knowledge and ability to use the technical equipment and software programs required by the mediaproduction process. X
3 To be able to use the acquired theoretical knowledge in practice. X
4 To be able to critically interpret theoretical debates concerning the relations between the forms, agents, and factors that play a role in the field of media and communication.
5 To be able to critically discuss and draw on theories, concepts and ideas that form the basis of other disciplines complementing the field of media and communication studies. X
6 To be informed about national, regional, and global issues and problems; to be able to generate problemsolving methods depending on the quality of evidence and research, and to acquire the ability to report those methods to the public. X
7 To be able to gather, scrutinize and use with scientific methods the necessary data to for the processes of production and distribution. X
8 To be able to use and develop the acquired knowledge and skills in a lifelong process towards personal and social goals.
9 To be able to follow developments in new technologies of media and communication, as well as new methods of production, new media industries, and new theories; and to be able to communicate with international colleagues in a foreign language. (“European Language Portfolio Global Scale,” Level B1)
10 To be able to use a second foreign language at the intermediate level.
11 To be able to use computer software required by the discipline and to possess advancedlevel computing and IT skills. (“European Computer Driving Licence”, Advanced Level) X

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

 

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