COURSE INTRODUCTION AND APPLICATION INFORMATION

Course Name
Economics for Executives
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ISL 513
Fall/Spring
3
0
3
7.5
Prerequisites
None
Course Language
Turkish
Course Type
Elective
Course Level
Second Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives This course examines the use of economic information and analysis in making business decisions. Topics include: modeling concepts, demand analysis and forecasting, production and cost analysis, pricing, and uncertainty.
Learning Outcomes The students who succeeded in this course;
  • Define the basic concepts of managerial economics.
  • Compare the economic optimization and economic maximization.
  • Evaluate the complexities of demand and supply forecasting and its application to business decision such as compensation, pricing and production levels.
  • Explain important characteristics of different competitive markets.
  • Evaluate the relation between cost of competition and cost of regulation of competitive markets.
  • Evaluate the effects of this relation on business decision
Course Description This course examines the use of economic information and analysis in making business decisions. Students will further develop their understanding of microeconomic analysis and its relevance to real business and develop an understanding of the scope and limitations of economic analysis in solving business problems. Topics include: modeling concepts, demand analysis and forecasting, production and cost analysis, pricing, competitive markets, imperfect competition, monopoly, monopsony, oligopolies, and uncertainty.
Related Sustainable Development Goals

 



Course Category

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

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Required Materials
1 Introduction to course
2 Economic Decision Making Chapter 1 Nature and Scope of Managerial Economics
3 Economic Optimization Chapter 2 Economic Optimization
4 Demand and Supply Chapter 3 Demand and Supply
5 Consumer Demand Chapter 5 Demand Estimation
6 Demand Analysis Chapter 4 Demand Analysis
7 Demand Estimation Chapter 6 Forecasting
8 Midterm Exam
9 Production Analysis Chapter 7 Production Analysis and Compensation Policy
10 Cost Analysis Chapter 8 Cost Analysis and Estimation
11 Cost Estimation Chapter 9 Linear Programming
12 Performance & Strategy in Competitive Markets Chapter 10 Competitive Markets
13 Monopoly and Monopsony, Monopolistic Competition and Oligopoly Chapter 12 Monopoly and Monopsony and Chapter 13 Monopolistic Competition and Oligopoly
14 Game Theory Chapter 14 Game Theory and Competitive Strategy
15 Pricing Practices Chapter 15 Pricing Practices
16 Review of the Semester
Course Notes/Textbooks

Managerial Economics, 15th Edition, Mark Hirschey and Eric Bentzen
Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
30
Presentation / Jury
Project
1
50
Seminar / Workshop
Oral Exam
Midterm
1
20
Final Exam
Total

Weighting of Semester Activities on the Final Grade
3
100
Weighting of End-of-Semester Activities on the Final Grade
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
3
45
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
30
Presentation / Jury
Project
1
40
Seminar / Workshop
Oral Exam
Midterms
1
20
Final Exams
    Total
183

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
 Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to demonstrate general business knowledge and skills.

 X
2

To be able to demonstrate business communication skills effectively.

 X
3

To be able to deliver creative and innovative solutions to the business-related problems.

 X
4

To be able to evaluate the performance of business organizations through a holistic approach.

 X
5

To be able to lead their peers and companies for the achievement of business goals.

 X
6

To be able to perform well in teamwork projects and business tasks.

 X
7

To be able to exhibit an ethical and socially responsible behavior in conducting research and making business decisions.

 X
8

To be able to solve business related problems using analytical and technological tools and techniques.

 X
9

To develop a solution to business problems through systematic research.

 X
10

To be able to use a foreign language to follow information about the field of finance and participate in discussions in academic environments.

 X

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