FACULTY OF BUSINESS
Department of International Trade and Finance
ECON 101 | Course Introduction and Application Information
Course Name |
Principles of Microeconomics
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
ECON 101
|
Fall
|
3
|
0
|
3
|
6
|
Prerequisites |
None
|
|||||
Course Language |
English
|
|||||
Course Type |
Required
|
|||||
Course Level |
First Cycle
|
|||||
Mode of Delivery | - | |||||
Teaching Methods and Techniques of the Course | - | |||||
Course Coordinator | ||||||
Course Lecturer(s) | ||||||
Assistant(s) |
Course Objectives | The purpose of this course is to to provide an understanding of how people interact with each other, and with the natural environment, in producing their livelihoods. The course provides students with a framework of and the ability to evaluate key microeconomic concepts facing capitalist economies such as supply and demand, market equilibrium and disequilibrium, economic rents and institutions. The course also equips students with some elementary mathematical techniques to solve numerical or algebraic economic problems in applying key micreoconomic concepts. The focus of the course is to teach students models motivated by facts from history, experiments, and data. To use insights on the economy from a wide range of historical, geographical, disciplinary and methodological perspectives is another focus of the course. Students will be well prepared to tackle the issues covered in the more advanced second year course “Microeconomics". |
Learning Outcomes |
The students who succeeded in this course;
|
Course Description | Economics is the study of how people interact with each other, and with the natural environment, in producing their livelihoods. This course is an introduction to the basic principles of microeconomics, which analyzes the choices and actions of the economic actors as both self-interested and ethical. This course covers capitalist revolution; the effects of technological change; scarcity and opportunity cost; social interactions; the effect of institutions on balance of power; interactions among firm’s owners, managers and employees; profit maximizing firm’s interaction with its customers; supply, demand, and market equilibrium; market disequilibrium in credit and labor markets; market failures. |
|
Core Courses | |
Major Area Courses |
X
|
|
Supportive Courses | ||
Media and Management Skills Courses | ||
Transferable Skill Courses |
WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES
Week | Subjects | Related Preparation |
1 | The Capitalist Revolution | The Economy, the CORE Project , Chapter 1 |
2 | Technological change, population and economic growth | The Economy, the CORE Project , Chapter 2 |
3 | Technological change, population and economic growth | The Economy, the CORE Project , Chapter 2 |
4 | Scarcity, work and choice | The Economy, the CORE Project , Chapter 3 |
5 | Scarcity, work and choice | The Economy, the CORE Project , Chapter 3 |
6 | Social Interactions | The Economy, the CORE Project , Chapter 4 |
7 | Social Interactions | The Economy, the CORE Project , Chapter 4 |
8 | Midterm Final Confirmation of date and time will be announced later! | |
9 | The Firms: Owners, managers and employees | The Economy, the CORE Project , Chapter 6 |
10 | The Firms: Owners, managers and employees | The Economy, the CORE Project , Chapter 6 |
11 | The firm and its customers | The Economy, the CORE Project , Chapter 7 |
12 | The firm and its customers | The Economy, the CORE Project , Chapter 7 |
13 | Supply and Demand: Price taking and competitive markets | The Economy, the CORE Project , Chapter 8 |
14 | Supply and Demand: Price taking and competitive markets | The Economy, the CORE Project , Chapter 8 |
15 | Review of the Semester | |
16 | - |
Course Notes/Textbooks | The Economy e-book is available at https://www.core-econ.org/project/core-the-economy/. Every student must register on this website to access the free e-book. Assignments which make up 20% of your final grade will be given through blackboard. The assignments will be graded in blackboard and your instructors are going to see your grades online. |
Suggested Readings/Materials |
EVALUATION SYSTEM
Semester Activities | Number | Weigthing |
Participation |
1
|
10
|
Laboratory / Application | ||
Field Work | ||
Quizzes / Studio Critiques | ||
Portfolio | ||
Homework / Assignments |
1
|
20
|
Presentation / Jury | ||
Project | ||
Seminar / Workshop | ||
Oral Exams | ||
Midterm |
1
|
35
|
Final Exam |
1
|
35
|
Total |
Weighting of Semester Activities on the Final Grade |
3
|
65
|
Weighting of End-of-Semester Activities on the Final Grade |
1
|
35
|
Total |
ECTS / WORKLOAD TABLE
Semester Activities | Number | Duration (Hours) | Workload |
---|---|---|---|
Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
16
|
0
|
|
Study Hours Out of Class |
16
|
2
|
32
|
Field Work |
|
0
|
|
Quizzes / Studio Critiques |
0
|
||
Portfolio |
0
|
||
Homework / Assignments |
4
|
6
|
24
|
Presentation / Jury |
|
0
|
|
Project |
|
0
|
|
Seminar / Workshop |
0
|
||
Oral Exam |
0
|
||
Midterms |
1
|
35
|
35
|
Final Exam |
1
|
36
|
36
|
Total |
175
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
#
|
Program Competencies/Outcomes |
* Contribution Level
|
||||
1
|
2
|
3
|
4
|
5
|
||
1 | To be able to identify and analyze problems in the field of trade and finance, and to develop solutions. |
X | ||||
2 | To be able to use the theoretical and practical knowledge gained in the field of International Trade and Finance. | X | ||||
3 | To be able to analyze the developments in global markets by using critical thinking skills. | X | ||||
4 | To be able to analyze and interpret data in the field of finance, commerce and economics by using information technologies effectively. | X | ||||
5 | To be able to acquire knowledge about the legal regulations and practices in the field. | X | ||||
6 | To be able to foresee and define the risks that could be encountered in the field of trade and finance and to take decisions to manage such risks. | X | ||||
7 | To be able to acquire and use verbal and numerical skills necessary for the nature of international trade and finance program. | |||||
8 | To be able to obtain, synthesize and report the information related to the fields of trade and finance. | X | ||||
9 | To be able to contribute to the solution of problems as individual, team member or leader. | |||||
10 | To be able to evaluate the issues related to the field with an ethical perspective and social sensitivity. |
|||||
11 | To be able to collect data in the areas of International Trade and Finance and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1). | |||||
12 | To be able to speak a second foreign at a medium level of fluency efficiently. | |||||
13 | To be able to relate the knowledge accumulated throughout human history to their field of expertise. |
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
NEWS |ALL NEWS
Aiming for Poland
Izmir University of Economics (IUE) students made it to the finals of the ‘Research Challenge’ organized by the CFA Institute, one of
Sustainable Finance Summer School
Sustainable Finance Summer School, designed for high school students within the body of İzmir University of Economics, EKOSEM, was held on August
‘Regional Championship’ is the goal
The team of 5, consisting of students of Izmir University of Economics (IUE), made it to the finals in the ‘Research Challenge’
Reputable membership to IUE from the UK-based institute
The UK-based CFA Institute, which is considered one of the most respected institutions in the finance sector, has included the Department of
Prof. Küçüközmen gave a speech on the Cyber Risks to EKOTÜRK
Faculty member of IUE Department of International Trade and Finance, Prof. Küçüközmen commented on the cyber risks to EKOTÜRK TV.
Prof. Dr. C. Coşkun Küçüközmen said 'İzmir should be a Fintech Center'
One of the professors of our department, Prof. Dr. C. Coşkun Küçüközmen, in his interview with the 9 Eylül Newspaper, evaluated that
Prof. Dr. C. Coşkun Küçüközmen; “Filling up your car with ‘50 Lira gasoline’ cannot take you back home”
One of the professors of our department, Prof. Dr. C. Coşkun Küçüközmen evaluated the price hikes on fuel in an interview with
Prof. Dr. C. Coşkun Küçüközmen; 'Turkey Can End the War With Its Historical Power'
One of the professors of our department, Prof. Dr. C. Coşkun Küçüközmen evaluated the Ukraine-Russia war and its effects in a special