ACADEMICS
Course Details
ECO141 - Introduction to Economics I
2024-2025 Fall term information
The course is not open this term
ECO141 - Introduction to Economics I
| Program | Theoretıcal hours | Practical hours | Local credit | ECTS credit |
| Undergraduate | 3 | 0 | 3 | 4 |
| Obligation | : | Must |
| Prerequisite courses | : | - |
| Concurrent courses | : | - |
| Delivery modes | : | Face-to-Face |
| Learning and teaching strategies | : | Lecture, Discussion |
| Course objective | : | The objective of this course is to give the student the basic concepts and tools of the economic analysis. In general, the aim is to cultivate a disciplined way of thinking ?economically? on real world economic problems. The focus of the course will be on the conceptual foundations of the economics discipline, without omitting the concrete cases that could be relevant for economic analysis. At the end of this course, students are expected to acquire some notion as to what economics is about. National income accounting, economic growth, aggregate demand and its components, macroeconomic problems such as unemployment and inflation as well as economic policies for these problems will be studied. |
| Learning outcomes | : | Students learned the fundamental economic terminology. Students also gained the understanding of demand and supply functions, and market equilibriation process. Market types, output decision-making under these different types of markets, and differences between perfect and imperfect competition are also the gained concepts by the students. Students also learned national income and its components as well as aggregate demand and supply analysis. Students also gained ability to diagnose economic pr |
| Course content | : | Studying the fundamental economic terminology, market equilibriation process, the degree of competition under different market types, aggregate demand and supply analysis, economic problems and policies. |
| References | : | K.E. Case, R. C. Fair and S. M. Oster, Principles of Economics, Prentice-Hall, 10th edition, 2012.; |
| Weeks | Topics |
|---|---|
| 1 | Introduction |
| 2 | The Scope and Method of Economics |
| 3 | The Economic Problem: Scarcity and Choice |
| 4 | Demand, Supply, and Market Equilibrium |
| 5 | Demand and Supply Applications, Elasticity |
| 6 | Midterm |
| 7 | Household Behavior and Consumer Choice |
| 8 | The Production Process |
| 9 | Costs Functions and Output Decisions |
| 10 | Imperfect Competition |
| 11 | Midterm |
| 12 | Introduction to Macroeconomics |
| 13 | Measuring National Output and National Income |
| 14 | Growth, Productivity, Unemployment and Inflation |
| 15 | Aggregate Expenditure and Ouput Determination |
| 16 | Government and Fiscal Policy |
| Course activities | Number | Percentage |
|---|---|---|
| Attendance | 14 | 10 |
| Laboratory | 0 | 0 |
| Application | 0 | 0 |
| Field activities | 0 | 0 |
| Specific practical training | 0 | 0 |
| Assignments | 0 | 0 |
| Presentation | 0 | 0 |
| Project | 0 | 0 |
| Seminar | 0 | 0 |
| Quiz | 0 | 0 |
| Midterms | 2 | 60 |
| Final exam | 1 | 30 |
| Total | 100 | |
| Percentage of semester activities contributing grade success | 70 | |
| Percentage of final exam contributing grade success | 30 | |
| Total | 100 | |
| Course activities | Number | Duration (hours) | Total workload |
|---|---|---|---|
| Course Duration | 14 | 3 | 42 |
| Laboratory | 0 | 0 | 0 |
| Application | 0 | 0 | 0 |
| Specific practical training | 0 | 0 | 0 |
| Field activities | 0 | 0 | 0 |
| Study Hours Out of Class (Preliminary work, reinforcement, etc.) | 14 | 4 | 56 |
| Presentation / Seminar Preparation | 0 | 0 | 0 |
| Project | 0 | 0 | 0 |
| Homework assignment | 0 | 0 | 0 |
| Quiz | 0 | 0 | 0 |
| Midterms (Study Duration) | 2 | 10 | 20 |
| Final Exam (Study duration) | 1 | 10 | 10 |
| Total workload | 31 | 27 | 128 |
| Key learning outcomes | Contribution level | |||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1. | Possesses the theoretical and practical knowledge required in Electrical and Electronics Engineering discipline. | |||||
| 2. | Utilizes his/her theoretical and practical knowledge in the fields of mathematics, science and electrical and electronics engineering towards finding engineering solutions. | |||||
| 3. | Determines and defines a problem in electrical and electronics engineering, then models and solves it by applying the appropriate analytical or numerical methods. | |||||
| 4. | Designs a system under realistic constraints using modern methods and tools. | |||||
| 5. | Designs and performs an experiment, analyzes and interprets the results. | |||||
| 6. | Possesses the necessary qualifications to carry out interdisciplinary work either individually or as a team member. | |||||
| 7. | Accesses information, performs literature search, uses databases and other knowledge sources, follows developments in science and technology. | |||||
| 8. | Performs project planning and time management, plans his/her career development. | |||||
| 9. | Possesses an advanced level of expertise in computer hardware and software, is proficient in using information and communication technologies. | |||||
| 10. | Is competent in oral or written communication; has advanced command of English. | |||||
| 11. | Has an awareness of his/her professional, ethical and social responsibilities. | |||||
| 12. | Has an awareness of the universal impacts and social consequences of engineering solutions and applications; is well-informed about modern-day problems. | |||||
| 13. | Is innovative and inquisitive; has a high level of professional self-esteem. | |||||
1: Lowest, 2: Low, 3: Average, 4: High, 5: Highest