COURSE UNIT TITLE

: INTRODUCTION TO ECONOMICS

DEGREE PROGRAMMES

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
GMS 1001 INTRODUCTION TO ECONOMICS COMPULSORY 3 0 0 3

Offered By

Gastronomy and Culinary Arts

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR ILYAS SÖZEN

Offered to

Gastronomy and Culinary Arts

Course Objective

It is aimed for students to learn basic concepts and assumptions in economics. In addition to that, methods and tools used in analyzing economies and economic activities, theories for supply and demand, elasticity, consumption and production decisions, market analyses, factor markets, price determination in perfectly competitive and imperfectly competitive markets are examined.

Learning Outcomes of the Course Unit

1   To be able to explain basic concepts in economics
2   To be able to summarize main theories in economics
3   To be able to understand the methods of national income accounting
4   To be able to criticize the causes and effects of inflation and policies against inflation
5   To be able to evaluate policy implications and the current situation in national economy in the light of the knowledge attained

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 Basic Concepts What is Economics need-choice-factors of production types of economic activity The problem of scarcity
2 Economic Systems Economics in historical periods Economic systems
3 Supply and Demand Concepts of Supply and Demand Supply and Demand drawings Laws of Supply and Demand Supply and Demand Functions Supply and Demand curve shifts
4 Market Elasticity Market Balance Types of flexibility Flexibility practices Types of Market Intervention
5 Consumption Theory Preference and utility theory Consumer Balance Benefit Maximization Indifference analysis Types of goods
6 Production Theory Production and Costs Business Types Types of growth Production Function Co-Product Analysis Cost Types Economies of scale
7 Perfect Comptetion Market Market types Revenue Profit max Perfect Competition Market assumptions SR Balance LR Balance types of economic activity
8 Monopoly, Monopolistic Competition Market Monopoly Market Types Entry barriers Advantages and disadvantages Types of Price Differentiation Monopolistic Competition features
9 Oligopoly Market Oligopoly market characteristics Oligopoly models Other Pricing strategies Game Theory
10 National Income, Related Issues Additions and leaks NI Definition and Measurement Informal economy Comparison of living standards
11 Government Consumption and Fiscal Policy Justifications for the existence of the public sector Government spending and Budget Explanation of public expenditure increases Tax types Informality Budget and fiscal policy
12 Money, Monetary Theory Money - Functions of money Money Supply - Measurement Credit Creation The Central Bank and its responsibilities Monetary Policy and Tools Interest Rate
13 Inflation, Causes and Effects of Inflation, Policies against Inflation I Definition of inflation Types of inflation General level of prices Supply Side Factors and Inflation Demand-side Factors and Inflation
14 Inflation, Causes and Effects of Inflation, Policies against Inflation II Origins of inflationary monetary policy Budget deficits and inflation Unemployment and Inflation reforms to be implemented

Recomended or Required Reading

Main Reference:
Zeynel Dinler, Iktisada Giriş, Ekin Yayınevi, 2011.

Other References:
Ilker Parasız, Iktisada Giriş, Ezgi Kitapevi, 2010.
Ömer Faruk Çolak (Ed.), Iktisada Giriş, Gazi Kitabevi, 2007.

Planned Learning Activities and Teaching Methods

Lectures and Case Studies

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 VZ Vize
2 FN Final
3 BNS BNS VZ*0.40+FN * 0.60
4 BUT Bütünleme Notu
5 BBN Bütünleme Sonu Başarı Notu VZ*0.40+BUT * 0.60


Further Notes About Assessment Methods

None

Assessment Criteria

Midterm Exam (40%) + Final Exam (60%) + Make-up Exam

Language of Instruction

Turkish

Course Policies and Rules

Attendance at 70% of the classes is mandatory.
Students are expected to actively participate in the lesson.

Contact Details for the Lecturer(s)

mail: ilyas.sozen@deu.edu.tr

Office Hours

Lectural day 16:00-17:00

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 12 3 36
Preparation for midterm exam 1 12 12
Preparation for final exam 1 12 12
Preparations before/after weekly lectures 12 1 12
Midterm 1 2 2
Final 1 2 2
TOTAL WORKLOAD (hours) 76

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9PO.10PO.11PO.12
LO.15
LO.25
LO.35
LO.45
LO.555

CONTACT INFORMATION
Dokuz Eylül Üniversitesi Cumhuriyet Bulvarı No: 144 35210 Alsancak / İZMİR
Phone: +90(232) 412 12 12 - Fax: +90 (232) 464 81 35

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