FOREIGN TRADE(ENGLISH)
Associate	TR-NQF-HE: Level 5	QF-EHEA: Short Cycle	EQF-LLL: Level 5

General course introduction information

Course Code:

MFTR105

Course Name:

Economics

Course Semester:

Fall

Course Credits:

Theoretical	Practical	Credit	ECTS
3	0	3	6

Language of instruction:

Course Requisites:

Does the Course Require Work Experience?:

Type of course:

Compulsory

Course Level:

Associate

TR-NQF-HE:5. Master`s Degree

QF-EHEA:Short Cycle

EQF-LLL:5. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator :

Öğr.Gör. MÜRÜVVET AKAR

Course Lecturer(s):

GÖKTUĞ DUYAR
Öğr.Gör. MÜRÜVVET AKAR

Course Assistants:

Course Objective and Content

Course Objectives:

At the end of this course the student will be able to:

• Understand the key concepts in economics such as opportunity cost, comparative advantage, utility, production possibilities frontier, efficiency, scarcity, factors of production, supply and demand elasticity, budget constraint etc.
• Understand market and price mechanisms, simple demand and supply analysis
• Define various factors of production, cost and production functions
• Understand various types of competition in markets such as: oligopoly, monopoly, perfect competition
• Understand the role of government, markets, households and private sector in the economic sphere
• Explain the standard macroeconomic concepts and theories such as output, inflation, unemployment, current account, aggregate demand, aggregate supply, national income accounting, saving and investment, and market forces.
• Analyze the determinants of total output and the ways to measure nominal Gross Domestic Product (GDP) as well as real GDP, total employment and unemployment, the three forms of unemployment, and inflation.
• Explain different ways of computing the general movement in prices, and define the relationship between inflation and unemployment, the model of aggregate demand and aggregate supply.
• Describe the mechanics of money supply, different types of money; explain the money creation process, the money multiplier, and the process of interest rate determination; and discuss the role of the Central Bank and its tools of monetary policy.
• Explore environmental, social and cultural issues of economic growth and development, global economic relationships, sustainability and quality of life, income distribution and poverty, controversies over globalization.

Course Content:

This course will be to develop an understanding of elementary economic analysis and its applications. By the end of the term, the student will have acquired a basic understanding of the main micro and macro economic topics, including analysis of the consumer, the firm, the economics of public sector, product markets, national income, aggregate demand and supply, an introduction to the real economy and money and prices in the long run and some basic concepts about inflation and unemployment trade-off. The material covered in this course will help the student to organize his/her ideas about economics.

Learning Outcomes

The students who have succeeded in this course;

Learning Outcomes

1 - Knowledge
Theoretical - Conceptual
1) Understand the key concepts in economics such as opportunity cost, comparative advantage, utility, production possibilities frontier, efficiency, scarcity, factors of production, supply and demand elasticity, budget constraint
2) Understand the role of government, markets, households and private sector in the economic sphere
3) Explore environmental, social and cultural issues of economic growth and development, global economic relationships, sustainability and quality of life, income distribution and poverty, controversies over globalization.
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
Competence to Work Independently and Take Responsibility

Lesson Plan

Week	Subject	Related Preparation
1)	Syllabus
2)	The Context for Economic Analysis	Lecture Notes
3)	Supply and Demand	Lecture notes
4)	Supply and Demand (continued)	Lecture Notes
5)	Consumption and Consumer Theory	Lecture Notes
6)	Production Theory and Distribution Decisions	Lecture Notes
7)	Markets	Lecture Notes
8)	Midterm exam
9)	Introduction to Macroeconomics	Lecture Notes
10)	Aggregate Demand • Aggregate Supply • Economic Fluctuations	Lecture Notes
11)	Money • Central Banking • Monetary Policy • Fiscal Policy	Lecture Notes
12)	How Economies Grow and Develop	Lecture Notes
13)	National Income and Balance of Payments	Lecture Notes
14)	Questions and Review	Lecture Notes
15)	Final Exam

Sources

Course Notes / Textbooks:	Begg, D., Fisher, S. and Dornbusch, R., (2013) Economics, 10th Edition, London: McGraw-Hill McAfee, R. Preston, (2012) Introduction to Economic Analysis.
References:	Gregory Mankiw, Principles of Economics,7th Edition

Course-Program Learning Outcome Relationship

Learning Outcomes	1	2	3
Program Outcomes
1) Being knowledgeable in the field of foreign trade and knowing the various documents used
2) Having basic knowledge about export and customs legislation
3) Having the knowledge of associating foreign trade with logistics management
4) To have knowledge about international trade organizations and European Union
5) To have knowledge of foreign trade financing
6) To have the practice of researching and reporting information with graduation Project
7) Being conscious about Atatürk Principles and having knowledge about History of Turkish Revolution
8) To have basic knowledge in business administration and vision of international business
9) To have knowledge about basic methods used in financial accounting
10) Having effective communication skills in oral and written
11) Use at least one foreign language as scientific language

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	Being knowledgeable in the field of foreign trade and knowing the various documents used	1
2)	Having basic knowledge about export and customs legislation	1
3)	Having the knowledge of associating foreign trade with logistics management	1
4)	To have knowledge about international trade organizations and European Union	1
5)	To have knowledge of foreign trade financing	1
6)	To have the practice of researching and reporting information with graduation Project
7)	Being conscious about Atatürk Principles and having knowledge about History of Turkish Revolution	1
8)	To have basic knowledge in business administration and vision of international business	1
9)	To have knowledge about basic methods used in financial accounting
10)	Having effective communication skills in oral and written
11)	Use at least one foreign language as scientific language

Learning Activity and Teaching Methods

Expression
Lesson
Reading
Homework

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Homework

Assessment & Grading

Semester Requirements	Number of Activities	Level of Contribution
Midterms	1	% 40
Final	1	% 60
total		% 100
PERCENTAGE OF SEMESTER WORK		% 40
PERCENTAGE OF FINAL WORK		% 60
total		% 100

Workload and ECTS Credit Grading

Activities	Number of Activities	Duration (Hours)	Workload
Course Hours	1	3	3
Midterms	1	1	1
Final	1	1	1
Total Workload			5