Description of Individual Course Units
Course Unit CodeCourse Unit TitleType of Course UnitYear of StudySemesterNumber of ECTS Credits
190400702103INTRODUCTION TO ECONOMICS IICompulsory125
Level of Course Unit
First Cycle
Objectives of the Course
The main objective of the course is to provide the student with information on matters within the sphere of economics. In this context, production organization and classification of production factors, production with one and two variable inputs, long-term and returns to scale, production cost, short- and long term cost functions, definition and scope of macroeconomics, employment and unemployment, money and money market, inflation and deflation, foreign trade and economic growth and income distribution are some of the subjects to be teached in this course.
Name of Lecturer(s)
Dr. Öğr. Üyesi Özlem SÖKMEN GÜRÇAM
Learning Outcomes
1At the end of the semester, the student can define the basic concepts of microeconomics and macroeconomics.
2He/she understands and explains the concept of the production
3He/she can interpret the costs of production in a detailed way.
4He/she can understand and explain macroeconomic issues such as income distribution, national income, employment, unemployment, inflation, deflation, foreign trade
5He/she can evaluate micro- and macroeconomic events by using the language of economic literature.
6He/she can participate in the discussions on micro- and macroeconomic issues.
Mode of Delivery
Daytime Class
Prerequisites and co-requisities
Recommended Optional Programme Components
Course Contents
The course covers the basic concepts of microeconomics and macroeconomics.
Weekly Detailed Course Contents
1PRODUCTION ORGANIZATION AND CLASSIFICATION OF PRODUCTION FACTORS - Production Concept - Classification Of Production Factors - Production Function
2PRODUCTION WITH ONE VARIABLE INPUT - Average And Marginal Product - Extracting Average And Marginal Product Curves Geometrically - Relationship Between Marginal And Average Product Curve - Law Of İncreasing And Diminishing Returns - Three-Stage Of Production
3PRODUCTION WITH TWO VARIABLE INPUTS (ISOQUANT ANALYSİS) - Isoquant Curves - Properties Of Isoquant Curves - Economic Stage Of The Production - Fixed-Proportion Production Function
4LONG-TERM AND RETURNS TO SCALE - Constant Returns To Scale - İncreasing Returns To Scale - Decreasing Returns To Scale - Returns To Scale And Isoquant Curves - Production Elasticities And Isoquant Curves
5PRODUCTİON COST -Nature Of Cost - Explicit And Implicit Costs - Opportunity Cost - Private And Social Costs - Optimal Factor Composition - Isocost Lines - Cost Minimization - Production Maximization
6SHORT-TERM COST FUNCTIONS - Total Cost - Per Unit Costs - Average Fixed Cost - Average Variable Cost - Relationship Between Average Variable Cost And Average Product - Average Total Cost - Marginal Cost - Relationship Between Marginal Cost Marginal Product - Relationship Between Average And Marginal Cost Curves - Relationship Among Total, Average And Marginal Cost
7LONG RUN COST FUNCTIONS - Expansion Path And Long Run Cost Functions - Long Run Average Cost Curve - Long Run Marginal Cost Curve - Relationship Between Short- And Long Run Cost Curves - Shape Of Long Run Average Cost Curve - Substitution Elasticity
8Midterm Exam
9PERFECT COMPETİTİON AND MONOPOLY MARKET - Nature Of Perfect Competition Market - Properties Of Perfect Competition Market And Pricing İn Marekt Period - Nature Of Monopoly Market - Sources Of Monopoly Power -Comparison Of Monopoly With Perfect Competition
10DEFİNİTİON AND SCOPE OF MACROECONOMİCS -National İncome And Calculation Methods Of National İncome
11EMPLOYMENT AND UNEMPLOYMENT - National İncome And Employment - Employment Related Concepts -Unemployment
12MONEY AND MONEY MARKET -Definition And Functions Of Money - Types Of Money And Monetary Systems -Equilibrium İn Money Market
13INFLATİON AND DEFLATİON -Price İndex - Definition And Types Inflation - Definition And Types Deflation -Effects Of Inflation And Deflation
14FOREIGN TRADE -Objective And Scope Of Foreign Trade - Foreign Trade Theories - Balance Of Payments ECONOMIC GROWTH AND INCOME DISTRIBUTION - Economic Growth And Growth Factors - Income Distribution And Types Of
15Final Exam
Recommended or Required Reading
Ersan Bocutoğlu ve Metin Berber, Genel İktisada Giriş (introduction to general economy), Ekin Basım Yayın Dağıtım. Orhan Çoban, İktisada Girişi, (introduction to economy), Atlas Kitabevi, Konya
Planned Learning Activities and Teaching Methods
Assessment Methods and Criteria
Term (or Year) Learning ActivitiesQuantityWeight
Midterm Examination1100
End Of Term (or Year) Learning ActivitiesQuantityWeight
Final Examination1100
Term (or Year) Learning Activities40
End Of Term (or Year) Learning Activities60
Language of Instruction
Work Placement(s)
Workload Calculation
ActivitiesNumberTime (hours)Total Work Load (hours)
Midterm Examination111
Final Examination111
Self Study168128
Individual Study for Mid term Examination111
Individual Study for Final Examination111
Contribution of Learning Outcomes to Programme Outcomes
* Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High
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