Introduction To Economics

Mode of Delivery

Face to Face

Prerequisites and Co-Requisites

None

Recommended Optional Programme Components

Not Required

Course Contents

1 - Basic Concepts 2-Basic problems in economics 3 - Economic analysis methods and flow of economic activity 4 - Demand, Supply and Market Equilibrium 5 - Supply and Demand Elasticity 6 - Consumer equilibrium analysis 7- Manufacturer equilibrium analysis 8 - Cost Analysis 9 - Fully competitive market 10 - Monopoly market

Weekly Schedule

1) 1- What Is Economics? 1.a- The Definition of Economics 1.b- Macroeconomics and Microeconomics 2- The Economic Approach 2.a- Positive and Normative Analyisis 2.b-Scientific Method
2) 1- Reading Graphs 1.a- Relationship Between Variables. 1.b-Independent and Dependent Variables 1.c-Direct and Inverse Relationships 2- Consructing a Graph 2.a- The axes 2.b- A graph of the Demand
3) 1. Choice, Opportunity Costs, and Specialization 1.a Opporunity Costs 1.a.1- The Opportunity Cost of Going to School 1.a.2- Oppotrtunitiy Costs and Specialization 1.a.3-Opportunity Costs and Society's Choices. 2- Specialization 2.a- Specialize Where Oppoturnity Costs Are Lowest. 2.b- Coparative and Absolute Advantage.
4) 1 Markets, Demand and Supply,and the Price System. 1.a-Markets 1.a.1- Markets Definition. 1.a.2-Barter and Money Exchanges. 1.a.3- Relative and Nominal Price 2.a-Demand 2.a.1- The Law of Demand 2.a.2- İncome and Sunstitution Effects 2.a.3- The Demand Schedule
5) 1- The demand curve. 1.a. From individual demand curves to a market curve. 1.b. Changes in demand and chnages in the quantity demanded. 2- Supply 2.a. The law of Supply. 2.b. From individual supply curves to the market supply. 2.c- The determinants of supply. 2-d- Changes in Demand and Changes in the Quantity Supplied.
6) 1- Equilibrium 1.a- Determination of Equilibrium. 1.b- Changes in the equilibrium Price: Demand shifts. 1.c- Changes in the equilibrium Price:Supply Shifts 1.d- Equilibrium in reality.
7) 1- The Price System, Market Failures, and Alternatives. 1.a- What is produced ? 1.b- Consumer Sovereignty 1.c- Profit and the Allocation of Resources. 1.d- The Flow of Resources.
8) Midterm examination/Assessment
9) 1. Evaluating the Price System. 1.a- Information and the Price Ststem. 1.b- Externalities 1-c Public Goods
10) 1- Alternative Economic System 1.a- Capitalism 1.b- Socialism 1-c- Communism 1.d- Mixed Economies 1-e- The Traditional Economy
11) 1- Households, Businesses, Goverment, and the International Sector 1.a- Households 1.a.1- Number of Households and Household Income. 1.a.2- Household Spending 2. Business Firms 2.a. Forms of Business Organization 2.b. Firms Around the World. 3.Government 3.a- Policymakers.
12) 1. The ınternational sector. 1.a- Types of Countries. 1.b- International Sector Spending 2- Linking the Sectors 2.a-Households and Firms 2.b- Household, Firms,and Government 2.c- Household, Firms,Government and the International sector.
13) 1- Macroeconomic Basics 1.a- National Income Accounting 1.b- Measures of Output and Income 1.c-GNP
14) 1- Nominal and Real Measures. 2- Price Indexes
15) 1- The foreign excahange market. 1.a- Exchange Rates 1.b- The balance of payments
16) Final examination

Recommended or Required Reading

1- Güncel İktisada Giriş Ders Notları

Planned Learning Activities and Teaching Methods

1) Lecture
2) Question-Answer
3) Discussion
4) Drill and Practice
5) Brain Storming
6) Case Study

Assessment Methods and Criteria

Contribution of Midterm Examination to Course Grade	20%
Contribution of Final Examination to Course Grade	80%
Total	100%

Language of Instruction

Turkish

Work Placement(s)

Not Required