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
4
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 express what economists mean by the concept of scarcity.
  • Will be able to define basic economic concepts such as opportunity cost, elasticity, economic profit and marginal analysis.
  • Will be able to identify the determinants of demand and supply.
  • Will be able to predict a change in market outcomes given a change in supply or demand.
  • Will be able to explain the concept of market equilibrium.
  • Will be able to analyze firm behavior under perfect competition.
  • Will be able to measure key macroeconomic variables.
  • Will be able to find out basic relationships between the variables such as national income, unemployment, budget deficit, money supply, interest rate, inflation rate, exchange rate, and trade deficit.
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.

 



Course Category

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

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Required Materials
1 What is Economics? Parkin, Powel, Matthews; Essential Economics, Chapter 1 (Pearson Education Limited, European edition)
2 The Economic Problem Parkin, Powel, Matthews; Essential Economics, Chapter 2 (Pearson Education Limited, European edition)
3 Demand and Supply Parkin, Powel, Matthews; Essential Economics, Chapter 3 (Pearson Education Limited, European edition)
4 Demand and Supply Parkin, Powel, Matthews; Essential Economics, Chapter 3 (Pearson Education Limited, European edition)
5 Output and Costs Parkin, Powel, Matthews; Essential Economics, Chapter 6 (Pearson Education Limited, European edition)
6 Competitive Markets Parkin, Powel, Matthews; Essential Economics, Chapter 7 (Pearson Education Limited, European edition)
7 Review
8 Mid-term 1
9 Real GDP Parkin, Powel, Matthews; Essential Economics, Chapter 10 (Pearson Education Limited, European edition)
10 Monitoring Jobs and Inflation Parkin, Powel, Matthews; Essential Economics, Chapter 11 (Pearson Education Limited, European edition)
11 Financial Markets Parkin, Powel, Matthews; Essential Economics, Chapter 12 (Pearson Education Limited, European edition)
12 Financial Markets Parkin, Powel, Matthews; Essential Economics, Chapter 12 (Pearson Education Limited, European edition)
13 Money and Banking Parkin, Powel, Matthews; Essential Economics, Chapter 13 (Pearson Education Limited, European edition)
14 Growth, Inflation and Cycles Parkin, Powel, Matthews; Essential Economics, Chapter 15 (Pearson Education Limited, European edition)
15 Review
16 Review of the Semester  
Course Notes/Textbooks Parkin, Powel, Matthews; Essential Economics with MyEconLab Student Access Card, Pearson Education Limited 2012, European edition. Students MUST buy the book. Assignments which make up 20% of your final grade and the problem sets that will be used in the recitations will be given through the online system of the book called MyEconLab. The assignments will be graded in the system itself and your instructors will see your grades online. HENCE EVERY STUDENT MUST BUY THE BOOK TO BE ABLE TO REGISTER TO THIS SYSTEM BY USING THE ACCESS CODE THAT COMES WITH THE BOOK. NOTE: Students who took this course and failed in 2010-2011 academic year do not have to buy the book. MyEconLab Student Access Cards will be provided to these students, if they consult to the teaching assistant of the course.
Suggested Readings/Materials By going to the following link http://eco.ieu.edu.tr/en/econ100principleseconomics you will find a file containing detailed information on how to register to MyEconLab.

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
16
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
6
20
Presentation / Jury
Project
Seminar / Workshop
Oral Exam
Midterm
1
35
Final Exam
1
35
Total

Weighting of Semester Activities on the Final Grade
23
65
Weighting of End-of-Semester Activities on the Final Grade
1
35
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
Field Work
 
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
6
3
Presentation / Jury
 
 
Project
 
Seminar / Workshop
Oral Exam
Midterms
1
16
Final Exams
1
16
    Total
128

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

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

Ability to apply theoretical and technical knowledge in architecture.

X
2

Ability to understand, interpret and evaluate architectural concepts and theories.

X
3

Ability to take on responsibility as an individual and as a team member to solve complex problems in the practice of architecture.

 

X
4

Critical evaluation of acquired knowledge and skills to diagnose individual educational needs and to direct self-education.

X
5

Ability to communicate architectural ideas and proposals for solutions to architectural problems in visual, written and oral form.

X
6

Ability to support architectural thoughts and proposals for solutions to architectural problems with qualitative and quantitative data and to communicate these with specialists and non-specialists.

X
7

Ability to use a foreign language to follow developments in architecture and to communicate with colleagues.

X
8

Ability to use digital information and communication technologies at a level that is adequate to the discipline of architecture.

X
9

Being equipped with social, scientific and ethical values in the accumulation, interpretation and/or application of architectural data.

X
10

Ability to collaborate with other disciplines that are directly or indirectly related to architecture with basic knowledge in these disciplines.

X

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

 

İzmir Ekonomi Üniversitesi | Sakarya Caddesi No:156, 35330 Balçova - İZMİR Tel: +90 232 279 25 25 | webmaster@ieu.edu.tr | YBS 2010