EKO111 Fundamentals of Economics IIstanbul Okan UniversityDegree Programs International Logistics and TransportationGeneral Information For StudentsDiploma SupplementErasmus Policy StatementNational Qualifications
International Logistics and Transportation
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) Discloses basic knowledge of international logistics, including development process, new and determinative concepts, scientific methodology, theory and models of logistics discipline.
2) Uses appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in relevant areas, interpret the results and suggest solutions.
3) Designs a logistics system that will support the business mission and objectives.
4) Identifies uncertainties in the logistics and supply chain processes and takes measures to mitigate risks.
5) Can discover and create entrepreneurial opportunities and experience to successfully build and develop self-employment.
6) Analyzes the complex and rapidly changing conditions, the dynamics of the national / international business world, the relevant international logistics and supply chain environment
7) Can translate and explain the contents of documents written in English related to the field.
8) Communicates in written and spoken English with people of different social backgrounds, has global competence in tracking and interpreting global dynamics in logistics and supply chain fields.
9) Can demonstrate personal, professional, social and work ethic standards, assesses the ethical dimensions of the various applications in relevant fields, and becomes aware of the importance of ethical behavior in the process of collecting value added.

Course - Learning Outcome Relationship

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) Discloses basic knowledge of international logistics, including development process, new and determinative concepts, scientific methodology, theory and models of logistics discipline.
2) Uses appropriate tools and analytical techniques to collect and analyze quantitative and qualitative data in relevant areas, interpret the results and suggest solutions. 1
3) Designs a logistics system that will support the business mission and objectives.
4) Identifies uncertainties in the logistics and supply chain processes and takes measures to mitigate risks.
5) Can discover and create entrepreneurial opportunities and experience to successfully build and develop self-employment. 1
6) Analyzes the complex and rapidly changing conditions, the dynamics of the national / international business world, the relevant international logistics and supply chain environment 1
7) Can translate and explain the contents of documents written in English related to the field.
8) Communicates in written and spoken English with people of different social backgrounds, has global competence in tracking and interpreting global dynamics in logistics and supply chain fields.
9) Can demonstrate personal, professional, social and work ethic standards, assesses the ethical dimensions of the various applications in relevant fields, and becomes aware of the importance of ethical behavior in the process of collecting value added. 2

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