Course Information
SemesterCourse Unit CodeCourse Unit TitleT+P+LCreditNumber of ECTS CreditsLast Updated Date
1ECO101Introduction to Economics I3+0+03506.12.2024
Course Details
Language of Instruction English
Level of Course Unit Bachelor's Degree
Department / Program Political Science and International Relations
Type of Program Formal Education
Type of Course Unit Compulsory
Course Delivery Method Face To Face
Objectives of the Course This is an introductory course designed to present the basics of economic theory. The course will establish a strong base for the coming courses of economics freshmen, and develop the ability in students to understand and use the fundamental tools of microeconomic theory so that they can analyze and explain market phenomena.
Course Content This is an introductory principles of economics course that covers topics in microeconomics. The course will present factual material concerning the operation of the firm and household as well as the development of understanding of economic decision-making.
Course Methods and Techniques ?
Prerequisites and co-requisities None
Course Coordinator None
Name of Lecturers Dr. Mehmet Önder mehmet.onder@hku.edu.tr
Assistants None
Work Placement(s) No

Recommended or Required Reading
Resources Karl E. Case, Ray C. Fair, Sharon E. Oster, Principles of Economics: Global Edition 12/e Pearson Education, 2017

Course Category
Field %100

Planned Learning Activities and Teaching Methods
Activities are given in detail in the section of "Assessment Methods and Criteria" and "Workload Calculation"

Assessment Methods and Criteria
In-Term Studies Quantity Percentage
Mid-terms 1 % 20
Quizzes 4 % 30
Attendance 14 % 10
Final examination 1 % 40
Total
20
% 100

 
ECTS Allocated Based on Student Workload
Activities Quantity Duration Total Work Load
Course Duration 14 3 42
Assignments 4 15 60
Mid-terms 1 18 18
Final examination 1 30 30
Total Work Load   Number of ECTS Credits 5 150

 
Course Learning Outcomes: Upon the successful completion of this course, students will be able to:
NoLearning Outcomes
1 Express what economists mean by the concept of scarcity.
2 Apply knowledge of basic economic concepts such as opportunity cost, elasticity, economic profit and marginal analysis.
3 Identify the determinants of demand and supply.
4 Predict a change in market outcomes given a change in supply or demand.
5 Explain the concept of market equilibrium.
6 Explain and analyze differences between perfect and imperfect competition.
7 Demonstrate an understanding of economic theories of consumer and producer behavior.
8 Explain how the pursuit of profit leads to efficient outcomes.
9 Explain and use the basic concepts of production, profit, and costs.

 
Weekly Detailed Course Contents
WeekTopicsStudy MaterialsMaterials
1 Introduction: Markets and Prices
2 The Basics of Supply and Demand
3 Consumer Behavior
4 Individual and Market Demand
5 Production
6 Cost of Production
7 Mid-Term
8 Profit Maximization and Competitive Supply
9 Analysis of Competitive Markets
10 Market Power: Monopoly and Monopsony Pricing with Market Power
11 Monopolistic Competition and Oligopoly
12 Game Theory and Competitive Strategy Markets for Factor Inputs
13 Investment, Time, and Capital Markets
14 Information, Market Failure and the Role of Government

 
Contribution of Learning Outcomes to Programme Outcomes
P1 P2 P3 P4 P5 P6 P7 P8 P9 P10
All 1 3 2 4 3 2 4 1 3 4
C1 1 3 2 4 3 2 4 1 3 4
C2 1 3 2 4 3 2 4 1 3 4
C3 1 3 2 4 3 2 4 1 3 4
C4 1 3 2 4 3 2 4 1 3 4
C5 1 3 2 4 3 2 4 1 3 4
C6 1 3 2 4 3 2 4 1 3 4
C7 1 3 2 4 3 2 4 1 3 4
C8 1 3 2 4 3 2 4 1 3 4
C9 1 3 2 4 3 2 4 1 3 4

  Contribution: 1: Very Slight 2:Slight 3:Moderate 4:Significant 5:Very Significant