| Course Unit Code | Course Unit Title | Type of Course Unit | Year of Study | Semester | Number of ECTS Credits | | 9900001099 | ECONOMICS | Compulsory | 1 | 2 | 5 |
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| Level of Course Unit |
| First Cycle |
| Objectives of the Course |
| At the end of this course, students will learn the fundamental concepts and theories of economics and will have the information and skills to analyze the economic problems; they will have a general insight on the economical dimention of the problems in the agricultural sector and an economics background to be able to follow the advanced agricultural economics courses. |
| Name of Lecturer(s) |
| Yrd. Doç. Dr. Yakup Erdal ERTÜRK |
| Learning Outcomes |
| 1 | To understand economic problems | | 2 | To have the necessary skills to analyze the economic problems | | 3 | To be able to analyze the relations between economic variables graphically, numerically and orally | | 4 | To be able to interpret the daily economic problems | | 5 | To have a general insight on the economic dimension of the farm management problems and agricultural sector issues |
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| Mode of Delivery |
| Daytime Class |
| Prerequisites and co-requisities |
| None |
| Recommended Optional Programme Components |
| None |
| Course Contents |
| • Basic concepts of economics • Fundamental economic problems faced by all societies and economic systems • Market concept and types of markets • Price theory • Consumption theory • Production theory • Costs of production • Market equilibrium under prefect competition • Market equilibrium under monopoly • Basic indicators in macroeconomics |
| Weekly Detailed Course Contents |
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| 1 | Introduction of the scope and the importance of the course, and the recommended text books | | | | 2 | Basic concepts of economics | | | | 3 | Economic problems faced by all societies, production possibilities, opportunity cost, economic systems | | | | 4 | Market concept and types of markets | | | | 5 | Supply and demand, changes in supply and demand | | | | 6 | Market equilibrium and price determination, changes in equilibrium price, market equilibrium and time | | | | 7 | Elasticity of demand and supply | | | | 8 | Midterm exam | | | | 9 | Consumer Preferences, Utility, Consumer Equilibrium and Utility Maximization | | | | 10 | Production function in the short run and the law of diminishing returns | | | | 11 | Production function in the short run and returns to scale | | | | 12 | Isoquants (Equal Product Curves), isocost lines, optimal production point (lowest-cost combination of inputs) at a given level of output | | | | 13 | Cost Function, costs associated with the short run and the long run | | | | 14 | Final Exam | | |
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| Recommended or Required Reading |
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| Planned Learning Activities and Teaching Methods |
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| Assessment Methods and Criteria | |
| Midterm Examination | 1 | 100 | | SUM | 100 | |
| Final Examination | 1 | 100 | | SUM | 100 | | Term (or Year) Learning Activities | 40 | | End Of Term (or Year) Learning Activities | 60 | | SUM | 100 |
| | Language of Instruction | | | Work Placement(s) | | None |
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| Workload Calculation |
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| Midterm Examination | 1 | 1 | 1 |
| Final Examination | 1 | 1 | 1 |
| Attending Lectures | 14 | 10 | 140 |
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| Contribution of Learning Outcomes to Programme Outcomes |
| LO1 | | | 2 | | | | | | | LO2 | 3 | | | | 2 | | | 4 | | LO3 | | 4 | | 5 | | 3 | | | | LO4 | | | | | | | 3 | | | LO5 | | | | | | | | |
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| * Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High |
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Iğdır University, Iğdır / TURKEY • Tel (pbx): +90 476
226 13 14 • e-mail: info@igdir.edu.tr
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