| Course Name | Principles of Economics |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ECON 100 | 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 | 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;
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| Course Description | 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, money, banking and credit system. |
| Related Sustainable Development Goals |    |
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| Core Courses | |
| Major Area Courses | ||
| Supportive Courses | X | |
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Introduction: What is Economy | |
| 2 | Capitalist Revolution | The Economy, The Core Project, Unit 1 |
| 3 | Technology and Population | The Economy, The Core Project, Unit 2 |
| 4 | Scarcity, Work and Choice | The Economy, The Core Project, Unit 3 |
| 5 | The Firm: Owners, Managers and Employees | The Economy, The Core Project, Unit 6 |
| 6 | The Firm and Its Customers | The Economy, The Core Project, Unit 7 |
| 7 | Supply and Demand: Price Taking and Competitive Markets | The Economy, The Core Project, Unit 8 |
| 8 | Supply and Demand: Price Taking and Competitive Markets | The Economy, The Core Project, Unit 8 |
| 9 | Midterm | |
| 10 | Economic Fluctuations and Unemployment | The Economy, The Core Project, Unit 13 |
| 11 | Unemployment and Fiscal Policy | The Economy, The Core Project, Unit 14 |
| 12 | Unemployment and Fiscal Policy | The Economy, The Core Project, Unit 14 |
| 13 | Inflation and Monetary Policy | The Economy, The Core Project, Unit 15 |
| 14 | Technological Progress, Unemployment and Living Standards In the Long-Run | The Economy, The Core Project, Unit 16 |
| 15 | Review of the Semester | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | The Economy, Econ Core Project http://www.core-econ.org A free open-source textbook with additional materials. Please get registestered on the book website. |
| Suggested Readings/Materials |
| Semester Activities | Number | Weighting |
| Participation | 16 | 10 |
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | 4 | 20 |
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exam | ||
| Midterm | 1 | 30 |
| Final Exam | 1 | 40 |
| Total |
| Weighting of Semester Activities on the Final Grade | 20 | 60 |
| Weighting of End-of-Semester Activities on the Final Grade | 1 | 40 |
| 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 | 15 | 2 | 30 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | 4 | 12 | |
| Presentation / Jury | |||
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 1 | 20 | |
| Final Exams | 1 | 30 | |
| Total | 176 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To be able to possess the knowledge in legal terminology, concepts and principles. | |||||
| 2 | Solves the legal problems with an analytic and integral point of view. | |||||
| 3 | Evaluates the legal knowledge and abilities obtained with a critical approach. | |||||
| 4 | Evaluates the developments in legal theory and practice by monitoring local, international and interdisciplinary dimensions. | |||||
| 5 | Is conscious of social, professional and scientific principles of ethic behaviour. | |||||
| 6 | Takes responsibility in solving problems by creative and innovative thinking. | |||||
| 7 | Interprets the sources of law by ways of legal methodology. | |||||
| 8 | To be able to interpret the legal norms with a sense of justice respectful to human rights and in the light of principles of democratic, secular and social state of law. | |||||
| 9 | To be able to use the daily scientific sources and court judgments in the framework of life time learning approach. | |||||
| 10 | Informs the related persons and institutions about legal matters both verbally and in written. | |||||
| 11 | Monitors the daily legal information/court decisions and interacts with the colleagues in a foreign language (“European Language Portfolio Global Scale” Level B1). | |||||
| 12 | Uses the information and communication technology together with the computer programs in a level required by the area of law (“European Computer Driving Licence, Advanced Level”). | |||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
