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FACULTY of ECONOMICS and ADMINISTRATIVE SCIENCES / DEPARTMENT of LABOR ECONOMICS and INDUSTRIAL RELATIONS

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FACULTY of ECONOMICS and ADMINISTRATIVE SCIENCES / DEPARTMENT of LABOR ECONOMICS and INDUSTRIAL RELATIONS /
Katalog Ana Sayfa
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IKT1005Introduction To Economics3+0+0ECTS:5
Year / SemesterFall Semester
Level of CourseFirst Cycle
Status Compulsory
DepartmentDEPARTMENT of LABOR ECONOMICS and INDUSTRIAL RELATIONS
Prerequisites and co-requisitesNone
Mode of DeliveryFace to face
Contact Hours14 weeks - 3 hours of lectures per week
LecturerDoç. Dr. Umut ÜZAR
Co-LecturerProf. Dr. Nebiye Yamak
Language of instructionTurkish
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 OutcomesCTPOTOA
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.1,2,3,4
LO - 4 : translate economic events and issues which are described in daily language to the language of economic literature.1,2,3,4
LO - 5 : apply reasoning to better understand real world issues.1,2,3,4
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

 
Contents of the Course
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.
 
Course Syllabus
 WeekSubjectRelated Notes / Files
 Week 1Principles of economics, definition of economics,subject of economics,economic systems,main concepts, methods used in economics
 Week 2The economic problem, scarcity and choice, opportunity cost
 Week 3Demand, demand functions, market demand curve, changes in income, changes in a good's price, changes in the price of another good, compensated demand
 Week 4Supply, supply function, market supply curve
 Week 5Market equilibrium, equilibrium price,effects on price of shifts in the demand curve, effects on price of shifts in the supply curve
 Week 6Elasticity of demand, price elasticity of demand, income elasticity of demand, cross-price elasticity of demand
 Week 7Elasticity of supply
 Week 8Applications of supply, demand and elacticity
 Week 9Mid-term exam
 Week 10Price controls
 Week 11Theories 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 12The equilibrium of the consumer, changes in consumer equilibrium, quiz
 Week 13Theory of production, production functions, total product, average product, marginal product, the optimal combination of inputs in the short run
 Week 14Isoquant 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 15Measuring the national income,money,functions of money, money supply, money demand, international economic relations
 Week 16End-of-term exam
 
Textbook / Material
1Terzi, H. (2014) Mikro İktisat, Celepler Matbaası, 2. baskı, Trabzon; Dinler, Z. 2008; Mikro İktisat, Ekin Kitabevi, 19. Baskı, Bursa
2Dinler, Z. 2007; İktisada Giriş, Ekin Kitabevi, 13. Baskı, Bursa
 
Recommended Reading
1Ünsal, E. M. 2005; Mikro İktisat, İmaj Yayıncılık, 6. Baskı, Ankara
 
Method of Assessment
Type of assessmentWeek NoDate

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 workDuration (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 load150