FACULTY OF BUSINESS
Department of Business Administration
ECON 101 | Course Introduction and Application Information
Course Name |
Principles of Microeconomics
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
ECON 101
|
Fall
|
3
|
0
|
3
|
6
|
Prerequisites |
None
|
|||||
Course Language |
English
|
|||||
Course Type |
Required
|
|||||
Course Level |
First Cycle
|
|||||
Mode of Delivery | - | |||||
Teaching Methods and Techniques of the Course | - | |||||
Course Coordinator | ||||||
Course Lecturer(s) | ||||||
Assistant(s) |
Course Objectives | The purpose of this course is to to provide an understanding of how people interact with each other, and with the natural environment, in producing their livelihoods. The course provides students with a framework of and the ability to evaluate key microeconomic concepts facing capitalist economies such as supply and demand, market equilibrium and disequilibrium, economic rents and institutions. The course also equips students with some elementary mathematical techniques to solve numerical or algebraic economic problems in applying key micreoconomic concepts. The focus of the course is to teach students models motivated by facts from history, experiments, and data. To use insights on the economy from a wide range of historical, geographical, disciplinary and methodological perspectives is another focus of the course. Students will be well prepared to tackle the issues covered in the more advanced second year course “Microeconomics". |
Learning Outcomes |
The students who succeeded in this course;
|
Course Description | Economics is the study of how people interact with each other, and with the natural environment, in producing their livelihoods. This course is an introduction to the basic principles of microeconomics, which analyzes the choices and actions of the economic actors as both self-interested and ethical. This course covers capitalist revolution; the effects of technological change; scarcity and opportunity cost; social interactions; the effect of institutions on balance of power; interactions among firm’s owners, managers and employees; profit maximizing firm’s interaction with its customers; supply, demand, and market equilibrium; market disequilibrium in credit and labor markets; market failures. |
|
Core Courses |
X
|
Major Area Courses | ||
Supportive Courses | ||
Media and Management Skills Courses | ||
Transferable Skill Courses |
WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES
Week | Subjects | Related Preparation |
1 | The Capitalist Revolution | The Economy, the CORE Project , Chapter 1 |
2 | Technological change, population and economic growth | The Economy, the CORE Project , Chapter 2 |
3 | Technological change, population and economic growth | The Economy, the CORE Project , Chapter 2 |
4 | Scarcity, work and choice | The Economy, the CORE Project , Chapter 3 |
5 | Scarcity, work and choice | The Economy, the CORE Project , Chapter 3 |
6 | Social Interactions | The Economy, the CORE Project , Chapter 4 |
7 | Social Interactions | The Economy, the CORE Project , Chapter 4 |
8 | Midterm Final Confirmation of date and time will be announced later! | |
9 | The Firms: Owners, managers and employees | The Economy, the CORE Project , Chapter 6 |
10 | The Firms: Owners, managers and employees | The Economy, the CORE Project , Chapter 6 |
11 | The firm and its customers | The Economy, the CORE Project , Chapter 7 |
12 | The firm and its customers | The Economy, the CORE Project , Chapter 7 |
13 | Supply and Demand: Price taking and competitive markets | The Economy, the CORE Project , Chapter 8 |
14 | Supply and Demand: Price taking and competitive markets | The Economy, the CORE Project , Chapter 8 |
15 | Review of the Semester | |
16 | - |
Course Notes/Textbooks | The Economy e-book is available at https://www.core-econ.org/project/core-the-economy/. Every student must register on this website to access the free e-book. Assignments which make up 20% of your final grade will be given through blackboard. The assignments will be graded in blackboard and your instructors are going to see your grades online. |
Suggested Readings/Materials |
EVALUATION SYSTEM
Semester Activities | Number | Weigthing |
Participation |
1
|
10
|
Laboratory / Application | ||
Field Work | ||
Quizzes / Studio Critiques | ||
Portfolio | ||
Homework / Assignments |
1
|
20
|
Presentation / Jury | ||
Project | ||
Seminar / Workshop | ||
Oral Exams | ||
Midterm |
1
|
35
|
Final Exam |
1
|
35
|
Total |
Weighting of Semester Activities on the Final Grade |
3
|
65
|
Weighting of End-of-Semester Activities on the Final Grade |
1
|
35
|
Total |
ECTS / WORKLOAD TABLE
Semester Activities | Number | Duration (Hours) | Workload |
---|---|---|---|
Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
16
|
0
|
|
Study Hours Out of Class |
16
|
2
|
32
|
Field Work |
|
0
|
|
Quizzes / Studio Critiques |
0
|
||
Portfolio |
0
|
||
Homework / Assignments |
4
|
6
|
24
|
Presentation / Jury |
|
0
|
|
Project |
|
0
|
|
Seminar / Workshop |
0
|
||
Oral Exam |
0
|
||
Midterms |
1
|
35
|
35
|
Final Exam |
1
|
36
|
36
|
Total |
175
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
#
|
Program Competencies/Outcomes |
* Contribution Level
|
||||
1
|
2
|
3
|
4
|
5
|
||
1 | To be able to solve problems with an analytical and holistic viewpoint in the field of business administration. |
|||||
2 | To be able to present the findings and solutions to the business problems in written and oral formats. |
|||||
3 | To be able to interpret the application of business and economic concepts, and philosophies at the national and international levels. |
X | ||||
4 | To be able to use innovative and creative approach for real-life business situations. |
|||||
5 | To be able to demonstrate leadership skills in different business situations. |
|||||
6 | To be able to interpret the reflections of new technologies and softwares to business dynamics. |
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7 | To be able to integrate knowledge gained in the five areas of business administration (marketing, production, management, accounting, and finance) through a strategic perspective. |
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8 | To be able to act in accordance with the scientific and ethical values in studies related to business administration. |
|||||
9 | To be able to work efficiently and effectively as a team member. |
|||||
10 | To be able to have an ethical perspective and social responsiveness when making and evaluating business decisions. |
X | ||||
11 | To be able to collect data in the area of business administration and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1). |
|||||
12 | To be able to speak a second foreign at a medium level of fluency efficiently. |
|||||
13 | To be able to relate the knowledge accumulated throughout the human history to their field of expertise. |
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
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