EKO112 Fundamentals of Economics IIIstanbul 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: EKO112
Course Name: Fundamentals of Economics II
Course Semester: Spring
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: National income accounts; Classical and Keynesian theories; national savings; investment and consumption; economic growth theories; balance of payments; exchange rate systems; trade and financial flows; monetary and fiscal policy; inflation and anti-inflation policies; Turkey and examples from around the world; macroeconomic indicators.
Course Content: National income accounts; Classical and Keynesian theories; national savings; investment and consumption; economic
theories of growth; balance of payments; exchange rate systems; trade and financial flows; money and finance
policy; inflation and anti-inflation policies; Turkey and examples from around the world; macroeconomic
indicators.

Learning Outcomes

The students who have succeeded in this course;
Learning Outcomes
1 - Knowledge
Theoretical - Conceptual
1) Define basic macroeconomic concepts.
2) Evaluate the economic models derived from macroeconomic models and models
3) Gain an economic formation in understanding and evaluating statistics related to the general economy.
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) • Examines the course content. • Examines the concept of macroeconomics. • Examines the course. • Discusses the basic macroeconomics concept. • Discuss the emergence of modern macroeconomics. NONE
2) Defines the concept of national income. • Examines the basic concepts of national income. • Shows the cyclical flow of economic activity on the chart. • Measures gross domestic product. • Discuss the difficulties in measuring national income. • Define the concept of gross domestic product. • Define the concept of gross national product. • Evaluates the production approach in the measurement of GDP. • Evaluates the income approach in the measurement of GDP. • Evaluates the expenditure approach in the measurement of GDP. • Identify important concepts related to national geir. Ertek (2011), 13.ve 14., ss.257-288.
3) • Discuss basic macroeconomic problems. • Evaluates the problem of economic growth. • Evaluates the inflation problem. • Evaluates the unemployment problem. • Evaluates the problem of internal and external debt. • Evaluates the basic macroeconomic policy tools. • Define economic growth. • Formulate the measurement of economic growth. • Recognize economic fluctuations. • Define inflation. • Calculates the measurement of inflation. • Defines the consumer price index, producer price index and gross domestic revenue deflator. • Discusses the importance of inflation in the economy. • Lists the types of unemployment problems. • Identifies the levels of employment and wages in the economy. • Define budget deficits and domestic debts. • Define balance of payments and external debts. • Explains the fiscal policy. • Explains the monetary policy. • Explain foreign trade and exchange rate policies. Ertek (2011), 15. ss.289-344.
4) • Evaluates the determination of income and price level. • Total demand - shows the total supply (AD-AS) model. • Defines the total demand. • Define total supply. • Determines the macro economic equilibrium. • Indicates what the total demand is made up of. • Shows the total demand curve. • List the factors leading to change in total demand. • Separates the total supply curves for short and long periods. • Evaluate the changes in long-term total supply. • Evaluates the changes in the short-term total supply. • Evaluates the determination of income and price level in the economy. • Demonstrates a balance of full employment in the economy. • Defines the concept of stagnation. • Demonstrates how the economy will balance in stagnation. Ertek (2011), 16. , ss.345-358.
5) • Evaluates the determination of the income level of the total expenditures. • Total revenue- shows the total expenditure (AI - AE) model. • Explains the assumption that prices are rigid. • Evaluates the total expenditures planned in the economy. • Evaluates the macroeconomic equilibrium and the total expenditure's income level. • Discuss the changes in macroeconomic balance. • Discuss global and regional economic crises. • Evaluates consumption expenditures. • List the factors that determine household consumption and savings. • Indicates the consumption and saving function. • Evaluates investment expenditures. • Evaluates state (public) expenditures. • Evaluates the concept of net export. • Defines the concepts of multiplier and accelerator Ertek (2011), 17.ı, ss.359-388.
6) • Define the public budget. • Discuss the expansionary and expansionary fiscal policies. • Defines the concept of money. • List the functions of money. • Distinguishes different definitions of money supply. • Evaluates the banking system. • Analyze the creation of money in the banking system. • Evaluates fiscal policy under the assumption of fiscal policy and autonomous taxes. • Evaluates how the government expenditure multiplier affects the new balance income level. • Evaluates how the tax multiplier affects the new balance income level. • Defines the concept of equivalent budget multiplier. • Lists the functions of the central bank. • Evaluates the basic functions of commercial banks. • Evaluates the basic functions of development and investment banks. • Defines the concept of response rate. Ertek (2011), 18. ve 19. , ss.389-412.
7) Recognizes monetary theory. • Explains the equation of exchange. • Explain the classical view (quantity theory). • Explain the Keynesian view. • Explains the contemporary view. • Explain the determination of interest rate. • Explain the monetary theory of Monetarists. • Explains the classical view in determining the interest rate. • Explain the theory of lending funds. • Explains the determination of interest rate according to Keynote. Ertek (2011), 20. , ss.413-429.
8) • Students are assessed by midterm exam. • Shows the cyclical flow of economic activity on the chart. • Evaluates the unemployment problem. • Evaluates the basic macroeconomic policy tools. • Total demand - shows the total supply (AD-AS) model. • Determines the macro economic balance. • Evaluates the total expenditures planned in the economy. • Discusses the expansionary and expansionary fiscal policies • Midterm exam • Evaluates the production approach in the measurement of GDP. • Lists the types of unemployment problems. • Evaluates the determination of income and price level in the economy. • Demonstrates how the economy will balance in stagnation. • Defines the concepts of multiplier and accelerator. • Defines the concept of equivalent budget multiplier. Ertek (2011), 21. ss.429-456.
9) • Recognize monetary policy. • List the instruments of monetary policy. • Discuss the impact of monetary policy on the economy. • Explain the ratio (reserve ratio) of the monetary policy instruments. • Explain the rediscount rate from monetary policy instruments. • Explains open market operations from monetary policy instruments. • Explains the disponibility of monetary policy instruments. • Explain the rate of import guarantee from monetary policy instruments. • Discuss the impact of monetary policy on the economy within the framework of keynesian views. • Discusses the impact of monetary policy on the economy within the framework of the monetary perspective. NONE
10) •Defines the concept of inflation. • Lists the types of inflation according to their causes. • classifies the effects of inflation on the economy. • Examines the relationship between inflation and unemployment. • Evaluates the short-term Phillips curve. • Evaluates the long-term Phillips curve. • Discusses the policies to combat inflation. • Describes demand inflation. • Define cost inflation. • Evaluates inflation expectations. • Examines the effect of inflation on income distribution. • Examines the impact of inflation on growth. • Examines the impact of inflation on foreign trade. • Examines the impact of inflation on resource allocation. • Examines the social effects of inflation. Ertek (2011), 21. ss.435-456.
11) Recognize the concept of international trade. • Discuss why countries trade. • List international trade theories. • Lists foreign trade restrictive practices. • discuss the views in favor of and in the light of foreign trade regulations. • Explain the theory of absolute superiority. • Explains the comparative advantage theory. • Heckscher - explains Ohlin (factor hardware) theory. • Explain more competition than some other theories of international trade. • Explain the use of more economies of scale than some other theories of international trade. • Explain more types of goods and services than some other theories of international trade. • Examines customs tariffs from foreign trade restrictive practices. • Examines import quotas from foreign trade restrictive practices. • Examines import prohibitions on foreign trade restrictive practices. • Examines other restrictive practices of foreign trade restrictive practices. Ertek (2011), 22. ss.457473.
12) • Explains efforts to liberalize foreign trade. • Examines efforts to liberalize foreign trade at international and regional level. • Examines the mel General Agreement on Tariffs and Trade imes (GATT) from the international developments of the liberalization efforts of foreign trade. • Examines the ın World Trade Organization düzey from the international developments of the liberalization efforts of foreign trade. • Examines the düzey Preferential Trade Agreement mel from the developments of the liberalization of foreign trade at the regional level. • Examines the alar Free Trade Zone bölgesel from the developments of the liberalization of foreign trade at the regional level. • Investigates the imes Customs Union ın from the regional developments in the efforts to liberalize foreign trade. • Examines the i Middle Market ın from the regional development of the efforts to liberalize foreign trade. • Examines the i Economic Union ın from the developments of the liberalization of foreign trade at the regional level. • Examine the Preferential Trade Agreement from the developments of the liberalization of foreign trade at regional level. • Examines other developments at the regional level of foreign trade liberalization efforts Ertek (2011), 22. s.473-4876.
13) Recognizes international finance. • Examines external balance of payments (balance of payments). • Categorize the items of foreign balance sheet. • Recognize the concept of foreign exchange. • Evaluates the relationship between real exchange rate and foreign trade. • Define the concept of currency. • Define the concept of foreign exchange market. • Evaluates the determination of the exchange rate. • Classify changes in exchange rate. • Analyze changes in foreign exchange demand. • Analyze changes in foreign exchange supply. • Analyze the changes in equilibrium exchange rate. • Defines the real exchange rate concept. • Examines import and export functions. • Discusses the long-term effect of real exchange rate on foreign trade. Ertek (2011), 23. ss.487-538.
14) Defines the concept of economic growth. • Defines the concept of economic development. • List the factors that determine economic growth. • Analyzes the Harrod - Domar growth model. • Discuss the common features of developing countries that have not completed economic development. • Analyze the criteria used to determine the level of human development. • Discuss the difference between economic growth and economic development. • Evaluates the increase in the labor factor from the factors that determine economic growth. • Evaluates physical capital increases from factors that determine economic growth. • Evaluates the development of natural resources from the factors that determine economic growth. • Evaluates entrepreneurship among factors that determine economic growth. • Evaluates the developments in technology from the factors that determine economic growth. Ertek (2011), 24. ss.539-557.
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

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

Expression
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 16 48
Study Hours Out of Class 15 120
Preliminary Jury 1 12
Final 1 15
Total Workload 195