| Course Name | Principles of Economics |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| GEEC 203 | Fall/Spring | 3 | 0 | 3 | 6 |
| Prerequisites | None | |||||
| Course Language | English | |||||
| Course Type | Service Course | |||||
| 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, and economic growth. |
| Related Sustainable Development Goals |   |
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| Core Courses | |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Welcome to Economics | PoE, Chapter 1 |
| 2 | Choice in a World of Scarcity | PoE, Chapter 2 |
| 3 | Demand and Supply | PoE, Chapter 3 |
| 4 | Labor and Financial Markets | PoE, Chapter 4 |
| 5 | Elasticity | PoE, Chapter 5 |
| 6 | Consumer Choices | PoE, Chapter 6 |
| 7 | Midterm | |
| 8 | Production, Costs and Industry Structure | PoE, Chapter 7 |
| 9 | Perfect Competition | PoE, Chapter 8 |
| 10 | Monopoly | PoE, Chapter 9 |
| 11 | The Macroeconomic Perspective | PoE, Chapter 19 |
| 12 | The Economic Growth | PoE, Chapter 20 |
| 13 | Unemployment | PoE, Chapter 21 |
| 14 | Inflation | PoE, Chapter 22 |
| 15 | Review of the Semester | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | Principles of Economics 3e (PoE) |
| Suggested Readings/Materials |
| Semester Activities | Number | Weigthing |
| 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 | 21 | 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 | 12 | |
| Final Exams | 1 | 30 | |
| Total | 168 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To be able to perform, execute and manage the various responsibilities and duties of an interior architecture and environmental design professional | |||||
| 2 | To be able to recognize, analyze and integrate within their practice the particular local and regional needs and developments of their profession | |||||
| 3 | To be able to communicate and collaborate with other individuals and groups on a national and international level within their profession | |||||
| 4 | To be able to develop, integrate and promote independent critical approaches for their professional practice | |||||
| 5 | To be able to understand the social and environmental issues and responsibilities of their profession | |||||
| 6 | To be able identify, assess and utilize the most up to date research, innovations, trends and technologies | |||||
| 7 | To be able to consider the national and international standards and regulations of their field | |||||
| 8 | To be able to develop the abilities to communicate and present design ideas within visual, oral and textual formats | |||||
| 9 | To be able to adopt a multidisciplinary approach to design on a national and international level | |||||
| 10 | To be able to recognize their own strengths, and develop them within an environment | |||||
| 11 | To be able to collect data in the areas of interior architecture and environmental design and communicate with colleagues in a foreign language | |||||
| 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 the human history to their field of expertise | |||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
