DOKUZ EYLL UNIVERSITY FACULTY OF BUSINESS COURSE SYLLABUS 9/14/2011

Offered by Offered to Offered to Course Title Course Level Undergraduate / First Cycle Instruction Language Prerequisite Department of Economics MAN MAN Economics I Course Code ECO 1001 English None Year 1 Semester Fall Mode of Delivery Prerequisite to ECTS 5 Weekly Course Hours T 3 In Class ECO 2001, ECO 4413, ECO 4118 A 0 L 0 ECN ECN IRL IRL THM THM IBT IBT Course Status Compulsory Elective

COURSE DESCRIPTION COURSE OBJECTIVE The purpose of the course is to provide a basic understanding of how economic actors decide to allocate their available resources in an efficient way. The course introduces basic microeconomic topics such as market structures, supply and demand, consumer behaviour, firm behaviour in output markets, the production process, input markets, decisions in regards to market power and market failures in capitalist economies. LEARNING OUTCOMES At the end of this course the learner is expected to, 1. Be able to demonstrate an understanding of basic economic concepts so that the learner can follow economic news in the media. 2. Identify the interactions among different economic units in order to discover the process of economic decision-making in a manner consistent with the existence of scarcity. 3. Identify different kinds of market structures, allowing the learner to recognize the business environment in which a firm operates. 4. Demonstrate an understanding the dynamics behind supply and demand in order to explain their effects on market equilibrium. 5. Acquire the skills to use library and media resources to enhance economic reasoning. LEARNING AND TEACHING STRATEGIES 1. Lectures 2. Problem Sets 3. Readings ASSESSMENT METHODS 1. Midterm Exam 2. Quiz 3. Final Exam GRADING % 40 % 10 % 50 %

DOKUZ EYLL UNIVERSITY FACULTY OF BUSINESS COURSE SYLLABUS 9/14/2011

ASSESSMENT CRITERIA 1. The learner will clearly define economic concepts in any economic news on economic units. 2. The learner will use necessary economic concepts to explain the decision-making processes of consumers and firms. 3. The learner will identify the market structure in which a specific product is produced and sold. 4. The learner will recognize how a market reaches equilibrium through demand and supply forces. 5. The learner will recognize economic issues that are defined in reserved books and resources at the library.

TEXT BOOK(S)/ REFERENCES / MATERIALS 1. CASE, K. E. and R. C. FAIR, Principles of Economics, 2006, Pearson Prentice Hall, New Jersey, 8h Ed.

COURSE POLICIES AND RULES 1. Attending at least 70 percent of lectures is mandatory. 2. Plagiarism of any type will result in disciplinary action.

COURSE OUTLINE WEEK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 TOPICS The Scope and Method of Economics The Economic Problem: Scarcity and Choice Demand, Supply and Market Equilibrium Demand and Supply Applications Elasticity Household Behavior and Consumer Choice Production Process and Firm Behavior Short-run Costs and Output Decisions Long-run Costs and Output Decisions Input Demand: The Labor and Land Markets Monopoly Monopolistic Competition and Oligopoly Monopolistic Competition and Oligopoly Review NOTES Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 13 Chapter 14 Chapter 14