FACULTY OF BUSINESS

Department of Business Administration

ECON 102 | Course Introduction and Application Information

Course Name
Principles of Macroeconomics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 102
Spring
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 course provides students with a framework of and the ability to evaluate key macroeconomic concepts facing capitalist economies such as unemployment, inflation, and output growth. The course also equips students with some elementary mathematical techniques to solve numerical or algebraic economic problems in applying key macreoconomic 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 “Macroeconomics".
Learning Outcomes The students who succeeded in this course;
  • Will be able to define key macroeconomic variables such as unemployment and inflation and the measurement of such variables.
  • Will be able to describe how interest rate is determined in money markets and how banks create money
  • Will be able to explain how monetary policy and fiscal policy affect macroeconomic outcomes
  • Will be able to show how technological developments can affect both employment and wages in te long run
  • will be able to follow the impact of exchange rate movements on economic fluctuations
Course Description This course is intended to introduce the students to some basic macroeconomic concepts, with special emphasis on economic growth, inflation and unemployment. Credit market transactions, the determination of interest rates, the functions of money, banks and a nation's central bank are discussed. Current problems of inflation and unemployment are explored and the tools available to the government to deal with these economic problems, and their limitations are analyzed. This course analyzes trends in living standards in the long-run and economic fluctuations in the short-run. The effects of production and distribution of goods and services on environment are discussed. The course also covers the concepts of economic inequality and networked economy.

 



Course Category

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 Banks money, and the credit market The CORE Project, Chapter 10
2 Banks money, and the credit market The CORE Project, Chapter 10
3 Economic fluctuations and unemployment The CORE Project, Chapter 13
4 Economic fluctuations and unemployment The CORE Project, Chapter 13
5 Unemployment and fiscal policy The CORE Project, Chapter 14
6 Unemployment and fiscal policy The CORE Project, Chapter 14
7 MIDTERM
8 Inflation, Unemployment and Monetary Policy The CORE Project, Chapter 15
9 Inflation, Unemployment and Monetary Policy The CORE Project, Chapter 15
10 Technolological Progress, employment, and living standards in the long run; The CORE Project, Chapter 16
11 Technolological Progress, employment, and living standards in the long run The CORE Project, Chapter 16
12 The Great Depression, golden age, and global financial crisis The CORE Project, Chapter 17
13 The Nation and the World Economy The CORE Project, Chapter 18
14 The Nation and the World Economy The CORE Project, Chapter 18
15 Review of the Semester
16 Review of the Semester

 

Course Notes/Textbooks The Economy e-book is available at http://www.core-econ.org/. 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
15
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
20
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
30
Final Exam
1
40
Total

Weighting of Semester Activities on the Final Grade
17
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
1
25
25
Presentation / Jury
 
0
Project
 
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
30
30
Final Exam
1
40
40
    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.   

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.

8

To be able to act in accordance with the scientific and ethical values in studies related to business administration.

X
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.

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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