| 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 | Production, Costs and Industry Structure | PoE, Chapter 7 |
| 8 | Perfect Competition | PoE, Chapter 8 |
| 9 | Midterm Exam | |
| 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 | 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 | 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 master and use fundamental phenomenological and applied physical laws and applications, | |||||
| 2 | To be able to identify the problems, analyze them and produce solutions based on scientific method, | |||||
| 3 | To be able to collect necessary knowledge, able to model and self-improve in almost any area where physics is applicable and able to criticize and reestablish his/her developed models and solutions, | |||||
| 4 | To be able to communicate his/her theoretical and technical knowledge both in detail to the experts and in a simple and understandable manner to the non-experts comfortably, | |||||
| 5 | To be familiar with software used in area of physics extensively and able to actively use at least one of the advanced level programs in European Computer Usage License, | |||||
| 6 | To be able to develop and apply projects in accordance with sensitivities of society and behave according to societies, scientific and ethical values in every stage of the project that he/she is part in, | |||||
| 7 | To be able to evaluate every all stages effectively bestowed with universal knowledge and consciousness and has the necessary consciousness in the subject of quality governance, | |||||
| 8 | To be able to master abstract ideas, to be able to connect with concreate events and carry out solutions, devising experiments and collecting data, to be able to analyze and comment the results, | |||||
| 9 | To be able to refresh his/her gained knowledge and capabilities lifelong, have the consciousness to learn in his/her whole life, | |||||
| 10 | To be able to conduct a study both solo and in a group, to be effective actively in every all stages of independent study, join in decision making stage, able to plan and conduct using time effectively. | |||||
| 11 | To be able to collect data in the areas of Physics 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 the human history to their field of expertise. | |||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
