COURSE INTRODUCTION AND APPLICATION INFORMATION


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;
  • Will be able to define core microeconomic concepts and to relate them to a range of applications in the real economy.
  • Will be able to solve numeric and algebraic economic problems using elementary mathematical techniques.
  • Will be able to evaluate economic models motivated by facts from history, experiments, and data.
  • Will be able to explain key macroeconomic variables such as GDP, unemployment and inflation and the measurement of such variables.
  • Will be able to explain how credit, banks, and money benefit mutual gains in a modern economy.
  • Will be able to explain how monetary policy and fiscal policy affect macroeconomic outcomes.
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.

 



Course Category

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

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Required Materials
1 The Capitalist Revolution The Economy, The Core Project, Unit 1
2 Technological Change, Population and Economic Growth The Economy, The Core Project, Unit 2
3 Scarcity, Work and Choice The Economy, The Core Project, Unit 3
4 The Firm: Owners, Managers and Employees The Economy, The Core Project, Unit 6
5 The Firm and Its Customers The Economy, The Core Project, Unit 7
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 Inflation, Unemployment and Monetary Policy The Economy, The Core Project, Unit 15
13 Technological Progress, Employment and Living Standards In the Long-Run The Economy, The Core Project, Unit 16
14 Banks, Money and the Credit Markets The Economy, The Core Project, Unit 10
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

 

EVALUATION SYSTEM

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
20
60
Weighting of End-of-Semester Activities on the Final Grade
1
40
Total

ECTS / WORKLOAD TABLE

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

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
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

To be able to solve the legal problems with an analytic and integral point of view.

3

To be able to evaluate the legal knowledge and abilities obtained with a critical approach.

4

To be able to evaluate the developments in legal theory and practice by monitoring local, international and interdisciplinary dimensions.

5

To be able to have awareness of social, professional and scientific principles of ethic behaviour.

6

To be able to take responsibility in solving problems by creative and innovative thinking.

7

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.

8

Working efficiently and effectively, learning how to be a team member, taking responsibilities, being open minded, constructive, open to criticism and having self confidence

9

To be able to use the daily scientific sources and court judgments in the framework of life time learning approach.

10

To be able to inform the related persons and institutions about legal matters both verbally and in written.

11

To be able to monitor the daily legal information/court decisions and interacts with the colleagues in a foreign language (“European Language Portfolio Global Scale” Level B1) .

12

To be able to use 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