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| IKT1005 | Introduction To Economics | 3+0+0 | ECTS:5 | | Year / Semester | Fall Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of INTERNATIONAL RELATIONS | | Prerequisites and co-requisites | None | | Mode of Delivery | Face to face | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Doç. Dr. Umut ÜZAR | | Co-Lecturer | Prof. Dr. Nebiye Yamak | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | The aim of this course is to give students an introduction to micro and market economics and to increase their skill level in analyzing various economic approaches. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | learn fundamental economic concepts and principles. | 1,2,3,4 | | | LO - 2 : | participate in debates on economic matters. | 1,2,3,4 | | | LO - 3 : | analyze roles of the market mechanism in allocating resources. | | | | LO - 4 : | translate economic events and issues which are described in daily language to the language of economic literature. | | | | LO - 5 : | apply reasoning to better understand real world issues. | | | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), LO : Learning Outcome | | |
| Subject of economics, definition of economics, economic systems, main concepts, methods used in economics, circular flow of economic activity, market, demand, supply and price mechanism, King Theorem, Cobweb Theorem, marginal utility and indifference curves, consumer's equilibrium and changes in consumer's equilibrium. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Principles of economics, definition of economics,subject of economics,economic systems,main concepts, methods used in economics | | | Week 2 | The economic problem, scarcity and choice, opportunity cost | | | Week 3 | Demand, demand functions, market demand curve, changes in income, changes in a good's price, changes in the price of another good, compensated demand | | | Week 4 | Supply, supply function, market supply curve | | | Week 5 | Market equilibrium, equilibrium price,effects on price of shifts in the demand curve, effects on price of shifts in the supply curve
| | | Week 6 | Elasticity of demand, price elasticity of demand, income elasticity of demand, cross-price elasticity of demand
| | | Week 7 | Elasticity of supply | | | Week 8 | Applications of supply, demand and elacticity | | | Week 9 | Mid-term exam | | | Week 10 | Price controls | | | Week 11 | Theories of consumer behavior, utility, the law of diminishing marginal utility, cardinal and ordinal utility, indifference curves, characteristics of indifference curves, marginal rate of substitution, budget line
| | | Week 12 | The equilibrium of the consumer, changes in consumer equilibrium, quiz
| | | Week 13 | Theory of production, production functions, total product, average product, marginal product, the optimal combination of inputs in the short run
| | | Week 14 | Isoquant curves, rate of technical substitution, the economic region of production, returns to scale, input substitution, isoquant line,the optimal combination of inputs in the long run
| | | Week 15 | Measuring the national income,money,functions of money, money supply, money demand, international economic relations
| | | Week 16 | End-of-term exam | | | |
| 1 | Terzi, H. (2014) Mikro İktisat, Celepler Matbaası, 2. baskı, Trabzon; Dinler, Z. 2008; Mikro İktisat, Ekin Kitabevi, 19. Baskı, Bursa | | | 2 | Dinler, Z. 2007; İktisada Giriş, Ekin Kitabevi, 13. Baskı, Bursa | | | |
| 1 | Ünsal, E. M. 2005; Mikro İktisat, İmaj Yayıncılık, 6. Baskı, Ankara | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 11/2021 | 1 | 50 | | End-of-term exam | 16 | 01/2022 | 1 | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 3 | 14 | 42 | | Sınıf dışı çalışma | 4 | 14 | 56 | | Laboratuar çalışması | 0 | 0 | 0 | | Arasınav için hazırlık | 10 | 2 | 20 | | Arasınav | 1 | 1 | 1 | | Uygulama | 0 | 0 | 0 | | Klinik Uygulama | 0 | 0 | 0 | | Ödev | 0 | 0 | 0 | | Proje | 0 | 0 | 0 | | Kısa sınav | 0 | 0 | 0 | | Dönem sonu sınavı için hazırlık | 10 | 3 | 30 | | Dönem sonu sınavı | 1 | 1 | 1 | | Diğer 1 | 0 | 0 | 0 | | Diğer 2 | 0 | 0 | 0 | | Total work load | | | 150 |
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