EKO111 Fundamentals of Economics IIstanbul Okan UniversityDegree Programs International RelationsGeneral Information For StudentsDiploma SupplementErasmus Policy StatementNational Qualifications
International Relations
Bachelor TR-NQF-HE: Level 6 QF-EHEA: First Cycle EQF-LLL: Level 6

General course introduction information

Course Code: EKO111
Course Name: Fundamentals of Economics I
Course Semester: Fall
Course Credits:
Theoretical Practical Credit ECTS
3 0 3 7
Language of instruction: TR
Course Requisites:
Does the Course Require Work Experience?: No
Type of course: Compulsory
Course Level:
Bachelor TR-NQF-HE:6. Master`s Degree QF-EHEA:First Cycle EQF-LLL:6. Master`s Degree
Mode of Delivery: Face to face
Course Coordinator : Prof. Dr. FATMA ÇİĞDEM ÇELİK
Course Lecturer(s): Dr.Öğr.Üyesi MEHMET GÖKHAN GÖKTAN
Course Assistants:

Course Objective and Content

Course Objectives: This an introductory course so the economic logic is introduced by the analitical models.The economic activities embrace all aspects of our lives.We lead our lives by decisions.Economics has a chain of logic while these decisions are taken.So the economic logic of optimization,equilibrium and empiricism principles are given and mastered in this course.With the examples of daily lives,the relationship between theory and experience are given as well.
Course Content: Role of consumers, firms and employees as economic actors; economic interaction;
economic selection and constraints; consumer theory and demand; firm theory: production, cost and supply; general balance;
market structure; market failures; missing information; welfare; Examples from the world and Turkey.

Learning Outcomes

The students who have succeeded in this course;
Learning Outcomes
1 - Knowledge
Theoretical - Conceptual
1) Define basic microeconomic concepts.
2) Define the economic behavior of decision making individual economic players.
3) Gain an economic formation in understanding and evaluating statistics related to the general economy.
2 - Skills
Cognitive - Practical
1) Deines the market structures and problems related to individual markets
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) • Examines the course content. • Examines the concept of microeconomics. • Examines the course. • Discusses the basic microeconomics concept. • Discuss the emergence of microeconomics. NONE
2) • Examines the basic concepts of taking economic decisions. • Deines the factors of production. • Depicts the economic variables on graphs. • Discuss the model concept. • Define individual decisions. • Define the concept of scarcity. • Evaluates the Production Possibilities Model • Identify positive economics.
3) PRICE MECHANISM • Evaluates demand function. •Discuss price and consumer behaviors. • Evaluates supply function. • Discuss price and producer behavior. • Define equilibrium price and quantity. • Formulate the demand and supply model by numerical examples.
4) DEMAND and SUPPLY MODEL(cont'd)
5) • Evaluates firm concept. • Explains the production decisions . • Evaluates the the short-run and long-run concepts. • Evaluates the goal of the traditional firm. • Discuss production decision of a firm.
6) • Define cost variables. • Discuss the relationship of production and cost in the SR and LR. • Defines the shapes of the production and cost functions and draw them. • Analyze examples of individual firms.
7) • Defines production in the context of the Neoclassical model. • Explain perfectly competitive firm. • Explain the equilibrium under competition. • Explains the static/dynamic analysis difference in relation to equilibrium. •Verifies his/her knowledge by the help of examples from life.
8) Students are assessed by midterm exam.
9) • List imperfect competion markets . • Discuss the differences of imperfectly competitive markets. • Explain the equilibrium under monopoly. • Explain the examples of monopoly from daily lives.
10) • Defines the types of imperfectly competitive firms. • Classifies the types in relation to causes. • Examines the different markets.
11) • Recognize the concept of labour market. • Discuss decisions of workers to work or not. • Discuss and explain the equilibrium in the labour market. • Explain the theory of absolute superiority. • Defines the relationship between the labour and output markets..
12) • Explains capital as a factor of production. • Examines the difference between fixed capital and financial capital. • Examines how capital market works as a market of a resource. • Investigates the examples from different countries around the globe.
13) • Defines and recognize choices of individual firms and markets . • Evaluates firms behaviours . • Evaluates the relationship between firm and the market structure. • Evaluates the current examples of firms,markets and problems on the basis of the knowledge experienced in the course.
14) •Review
15) • Students are evaluated with the final exam. Study for final exam

Sources

Course Notes / Textbooks: Prof.Dr.Tümay ERTEK
Beta Yayınevi, 3. Baskı 2011
ISBN : 978-975-295-983-5
Temel Ekonomi Notları Prof.Dr.Fatma Çiğdem Çelik
References: Prof.Dr.Tümay ERTEK
Beta Yayınevi, 3. Baskı 2011
ISBN : 978-975-295-983-5
Temel Ekonomi Notları Prof.Dr.Fatma Çiğdem Çelik

Course-Program Learning Outcome Relationship

Learning Outcomes

1

2

4

3

Program Outcomes
1) Students will able to explain the essential body of knowledge in the area of International Relations, including evolution of the discipline, the state-of-the-art concepts, scientific methodology, theories and models.
2) Students will able to employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions.
3) Students will able to categorize the basic concepts of Turkish politics, comparative politics, international relations, diplomatic history and foreign policy.
4) Students will able to analyze and critically evaluate local and global dynamics of contemporary socio-economic and political developments, foreign policy making and conflict resolution with all aspects.
5) Students will able to discover and create novel opportunities with an entrepreneurial spirit and use expertise to successfully establish and develop their own ventures.
6) Students will able to apply their knowledge in international institutions and multicultural environments and develop an interdisciplinary approach enabling them to relate and synthesize knowledge from diverse disciplines and draw novel conclusions.
7) Students will able to communicate in written and oral English with people from diverse backgrounds, and have the English proficiency to follow and interpret the global dynamics in the areas of International Relations.
8) Students will able to appreciate and defend human rights and multi-cultural diversity, and should emphatically interact with individuals from diverse cultural backgrounds in social and professional settings.
9) Students will able to identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society.

Course - Learning Outcome Relationship

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) Students will able to explain the essential body of knowledge in the area of International Relations, including evolution of the discipline, the state-of-the-art concepts, scientific methodology, theories and models. 3
2) Students will able to employ the appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in the related areas, interpret results and propose solutions. 3
3) Students will able to categorize the basic concepts of Turkish politics, comparative politics, international relations, diplomatic history and foreign policy. 3
4) Students will able to analyze and critically evaluate local and global dynamics of contemporary socio-economic and political developments, foreign policy making and conflict resolution with all aspects. 3
5) Students will able to discover and create novel opportunities with an entrepreneurial spirit and use expertise to successfully establish and develop their own ventures. 3
6) Students will able to apply their knowledge in international institutions and multicultural environments and develop an interdisciplinary approach enabling them to relate and synthesize knowledge from diverse disciplines and draw novel conclusions. 3
7) Students will able to communicate in written and oral English with people from diverse backgrounds, and have the English proficiency to follow and interpret the global dynamics in the areas of International Relations. 3
8) Students will able to appreciate and defend human rights and multi-cultural diversity, and should emphatically interact with individuals from diverse cultural backgrounds in social and professional settings. 3
9) Students will able to identify standards of personal, professional, social and business ethics, evaluate the ethical implications of various practices in the related areas, and be aware the importance of ethical behavior in adding value to the society. 3

Learning Activity and Teaching Methods

Field Study
Lesson
Reading
Homework

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Oral Examination
Individual Project

Assessment & Grading

Semester Requirements Number of Activities Level of Contribution
Quizzes 1 % 20
Midterms 1 % 30
Final 1 % 50
total % 100
PERCENTAGE OF SEMESTER WORK % 50
PERCENTAGE OF FINAL WORK % 50
total % 100

Workload and ECTS Credit Grading

Activities Number of Activities Workload
Course Hours 15 45
Application 1 10
Study Hours Out of Class 16 48
Project 2 36
Homework Assignments 1 12
Midterms 1 12
Final 1 12
Total Workload 175