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
|
- |
National Occupation Classification
|
-
|
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
|
#
|
Content
|
PC Sub
|
* Contribution Level
|
1
|
2
|
3
|
4
|
5
|
1 | Will be able to express what economists mean by the concept of scarcity. | | | | | | | 2 | Will be able to define basic economic concepts such as opportunity cost, elasticity, economic profit and marginal analysis. | | | | | | | 3 | Will be able to identify the determinants of demand and supply. | | | | | | | 4 | Will be able to predict a change in market outcomes given a change in supply or demand. | | | | | | | 5 | Will be able to explain the concept of market equilibrium. | | | | | | | 6 | Will be able to analyze firm behavior under perfect competition. | | | | | | | 7 | Will be able to measure key macroeconomic variables. | | | | | | | 8 | 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. |
Related Sustainable Development Goals
|
|
|
Core Courses |
|
Major Area Courses |
|
Supportive Courses |
|
Media and Management Skills Courses |
|
Transferable Skill Courses |
|
WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES
Week |
Subjects |
Related Preparation |
Learning Outcome
|
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 |
|
EVALUATION SYSTEM
Semester Activities
|
Number |
Weigthing |
LO 1 | LO 2 | LO 3 | LO 4 | LO 5 | LO 6 | LO 7 | LO 8 |
Participation |
16
|
10
|
Laboratory / Application |
-
|
-
|
Field Work |
-
|
-
|
Quizzes / Studio Critiques |
-
|
-
|
Portfolio |
-
|
-
|
Homework / Assignments |
4
|
20
|
Presentation / Jury |
-
|
-
|
Project |
-
|
-
|
Seminar / Workshop |
-
|
-
|
Oral Exams |
-
|
-
|
Midterm |
1
|
30
|
Final Exam |
1
|
40
|
Total |
22
|
100
|
Weighting of Semester Activities on the Final Grade |
21
|
60
|
Weighting of End-of-Semester Activities on the Final Grade |
1
|
40
|
Total |
22 |
100 |
ECTS / WORKLOAD TABLE
Semester Activities
|
Number |
Duration (Hours) |
Workload |
Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
-
|
-
|
-
|
Study Hours Out of Class |
15
|
2
|
30
|
Field Work |
-
|
-
|
-
|
Quizzes / Studio Critiques |
-
|
-
|
-
|
Portfolio |
-
|
-
|
-
|
Homework / Assignments |
4
|
12
|
48
|
Presentation / Jury |
-
|
-
|
-
|
Project |
-
|
-
|
-
|
Seminar / Workshop |
-
|
-
|
-
|
Oral Exam |
-
|
-
|
-
|
Midterms |
1
|
12
|
12
|
Final Exam |
1
|
30
|
30
|
|
|
Total |
168
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
#
|
PC Sub |
Program Competencies/Outcomes
|
* Contribution Level
|
1
|
2
|
3
|
4
|
5
|
1 |
To have adequate knowledge in Mathematics, Science and Civil Engineering; to be able to use theoretical and applied information in these areas on complex engineering problems.
|
-
|
-
|
-
|
-
|
-
|
2 |
To be able to identify, define, formulate, and solve complex Civil Engineering problems; to be able to select and apply proper analysis and modeling methods for this purpose.
|
-
|
-
|
-
|
-
|
-
|
3 |
To be able to design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the requirements; to be able to apply modern design methods for this purpose.
|
-
|
-
|
-
|
-
|
-
|
4 |
To be able to devise, select, and use modern techniques and tools needed for analysis and solution of complex problems in engineering applications.
|
-
|
-
|
-
|
-
|
-
|
5 |
To be able to design and conduct experiments, gather data, analyze and interpret results for investigating complex engineering problems or Civil Engineering research topics.
|
-
|
-
|
-
|
-
|
-
|
6 |
To be able to work efficiently in Civil Engineering disciplinary and multi-disciplinary teams; to be able to work individually.
|
-
|
-
|
-
|
-
|
-
|
7 |
To be able to communicate effectively in Turkish, both orally and in writing; to be able to author and comprehend written reports, to be able to prepare design and implementation reports, to present effectively, to be able to give and receive clear and comprehensible instructions.
|
-
|
-
|
-
|
-
|
-
|
8 |
To have knowledge about global and social impact of engineering practices on health, environment, and safety; to have knowledge about contemporary issues as they pertain to engineering; to be aware of the legal ramifications of engineering solutions.
|
-
|
-
|
-
|
-
|
-
|
9 |
To be aware of ethical behavior, professional and ethical responsibility; to have knowledge about standards utilized in engineering applications.
|
-
|
-
|
-
|
-
|
-
|
10 |
To have knowledge about industrial practices such as project management, risk management, and change management; to have awareness of entrepreneurship and innovation; to have knowledge about sustainable development.
|
-
|
-
|
-
|
-
|
-
|
11 |
To be able to collect data in the area of Civil Engineering, and to be able to communicate with colleagues in a foreign language;
|
-
|
-
|
-
|
-
|
-
|
12 |
To be able to speak a second foreign language at a medium level of fluency efficiently.
|
-
|
-
|
-
|
-
|
-
|
13 |
To recognize the need for lifelong learning; to be able to access information, to be able to stay current with developments in science and technology; to be able to relate the knowledge accumulated throughout the human history to Civil Engineering.
|
-
|
-
|
-
|
-
|
-
|
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest