The objective of this course is to help students to develop sound economic reasoning and a better understanding of the real world. Moreover, to understand and analyze 4 different industrial structures and differences between micro and macro economics. First 7 weeks, micro economic concepts will be studied. After 7 weeks the course will focus on macro economic concepts.
There will be learning teams among students. Every student must paricipate on team project assignments as well as to PowerPoint presentations. At the end of the last class session team PowerPoint presentations will be implemented. Submissions of team evaluation forms are the essential part of this course.
Prerequisite(s)
None
Corequisite(s)
None
Special Requisite(s)
None
Instructor(s)
Assist. Prof. Dr. İbrahim Ethem TARHAN
Course Assistant(s)
Department Assistant: Oğuz EMİR
Schedule
This course is not offered in this semester.
Office Hour(s)
This course is not offered in this semester.
Teaching Methods and Techniques
-Lecturer will use his lecture notes. PowerPoint Presentation slides will help to explain some complicated subjects with a better understanding to the learners. Assignments, Learning Team assignments and the term project are the essential parts of this course. Solving case studies with learning teams helping students to the real world working conditions.
Principle Sources
-Samuelson, P., A & Nordhaus, W, D. (2005). Economics. New York: McGraw-Hill/Irwin.
Term projects, PowerPoint presentations about micro or macro economic topics.
Other Sources
-Scolarly Journals, about micro and macro economy.
Course Schedules
Week
Contents
Learning Methods
1. Week
The meaning of micro and macro economics (modern economics) establishing the learning teams.
Lecture notes and slides
2. Week
Historical background of economics as a social science
"
3. Week
The nature and method of economics
"
4. Week
The mechanics of individual prices, demand and supply
"
5. Week
Investigation of elasticity concepts
"
6. Week
Preferences, utility and consumer choice
"
7. Week
Midterm Exam
8. Week
Pure competition, monopolistic competition, oligopoly and monopoly
Lecture notes, case studies
9. Week
Unemployment
"
10. Week
Visit to Istanbul Stock of Exchange
11. Week
Inflation, GNP and CPI
Lecture notes, learning team case studies
12. Week
Business cycles
"
13. Week
Fiscal policy, monetary policy and the banking system
"
14. Week
Introduction to international economics and international trade
"
15. Week
Economical Growth and Crisis
"
16. Week
European Community and Turkey. Summary of the course., PowerPoint presentations.
1
17. Week
Final Exam
Assessments
Evaluation tools
Quantity
Weight(%)
Midterm(s)
1
30
Quizzes
2
10
Project(s)
1
20
Attendance
17
5
Final Exam
1
35
Program Outcomes
PO-1
Ability to apply theoretical and practical knowledge gained by Mathematics, Science and their engineering fields and ability to use their knowledge in solving complex engineering problems.
PO-2
Ability of determining, defining, formulating and solving complex engineering problems; for that purpose develop the ability of selecting and implementing suitable models and methods of analysis.
PO-3
Ability of designing a complex system, process, device or product under real world constraints and conditions serving certain needs; for this purpose ability of applying modern design techniques
PO-4
Ability of selecting and using the modern techniques and devices which are necessary for analyzing and solving complex problems in engineering implementations; ability of efficient usage of information technologies.
PO-5
Ability of designing experiments, conducting tests, collecting data and analyzing and interpreting the solutions to investigate of complex engineering problems or discipline-specific research topics.
PO-6
Ability of working efficiently in intra-disciplinary and multi-disciplinary teams; individual working ability and habits.
PO-7
Ability of verbal and written communication skills; and at least one foreign language skills, ability to write effective reports and understand written reports, ability to prepare design and production reports, ability to make impressive presentation, ability to give and receive clear and understandable instructions
PO-8
Awareness of importance of lifelong learning; ability to access data, to follow up the recent innovation in science and technology for continuous self-improvement.
PO-9
Conformity to ethical principles; knowledge about occupational and ethical responsibility, and standards used in engineering applications.
PO-10
Knowledge about work life implementations such as project management, risk management and change management; awareness about entrepreneurship and innovativeness; knowledge about sustainable development.
PO-11
Knowledge about effects of engineering applications on health, environment and security in global and social dimensions, and on the problems of the modern age in engineering; awareness about legal outcomes of engineering solutions.
Learning Outcomes
LO-1
Explain the meaning of modern economics (micro & macro) and learn the historical background of economics (Adam Smith, John Maynard Keynes)
Learn the nature and method of economics and describe how to solve such economical problems
Learn the mechanics of individual prices, demand and supply
Identify the elasticity concepts (elastic & inelastic products) and explain the determinants of demand and supply elasticity.
Explain the importance of utility, preferences and consumer choice and understand the utility-maximizing rule
LO-2
Explain the role of different industrial structures and describe the conditions of pure competition, monopolistic competition, oligopoly and monopoly
LO-3
) Explain the concept of macro economics
LO-4
Identify different kinds of unemployment as well as their reasons
LO-5
Learn how to calculate the Gross National Product (GNP) and the Consumer Price Index (CPI)
Identify different types of inflation and explain how to reduce their rates
Learn the concept of business cycle
Explain the functions of fiscal policy, monetary policy and the banking system (how banks create money?) Describe the importance of international economics, European Union and Asian Pacific Economic Community and discuss the simple analytics of economical growth
