COURSE UNIT TITLE

: ECONOMICS FOR BUSINESS

DEGREE PROGRAMMES

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
IBS 2905 ECONOMICS FOR BUSINESS COMPULSORY 3 0 0 5

Offered By

International Trade and Business (English)

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR BERNA KIRKULAK ULUDAĞ

Offered to

International Trade and Business (English)

Course Objective

This course will cover topics in microeconomics and macroeoconomics for business. Consumer
behaviour (budget constraint, preferences, utility, choice and market demand), firm behaviour
(technology and costs, profit maximization and cost minimization, perfect competition, monopoly)
and various essential macroeconomic concepts will be examined to understand the functioning of
economies.

Learning Outcomes of the Course Unit

1   demonstrate understanding of consumer behavior and hence the demand side of the market so that s/he can analyze and evaluate reason of behavior of purchasing goods and services
2   be able to define production and cost functions indicating different technologies
3   be able to analyze cost minimization and profit maximization problems of the firm under various market conditions
4   be able to define basic macroeconomic concepts and compare different macroeconomic theories (classical and Keynesian)
5   demonstrate understanding of IS-LM curves, aggregate demand and aggregate supply curves, savings, investment and consumption
6   show understanding of the outcomes of different economic policies on national income, price level and interest rate

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 Budget constraint, preferences
2 Utility, choice
3 Technology
4 Profit maximization
5 Cost minimization
6 Discussing recent economic data
7 Problem solving
8 National Income
9 Money and Inflation
10 Unemployment
11 Introduction to economic fluctuations
12 Aggregate demand I: Building the IS-LM model
13 Aggregate demand II: Applying the IS-LM model
14 General discussion

Recomended or Required Reading

Varian, H. (2006) Intermediate Microeconomics A Modern Approach, 7th Edition, WW. Norton
& Company, New York.
Mankiw, G. (2010) Macroeconomics, 7th edi.

Planned Learning Activities and Teaching Methods

1. Lecture
2. Problem solving

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 MT Midterm
2 FN Final
3 FCG FINAL COURSE GRADE MT * 0.40 + FN * 0.60
4 RST RESIT
5 FCGR FINAL COURSE GRADE (RESIT) MT * 0.40 + RST * 0.60


Further Notes About Assessment Methods

None

Assessment Criteria

1. The learner will clearly define basic concepts used in microeconomic theory.
2. The learner will use necessary optimization methods to solve the choice problem of the
consumer.
3. The learner will elaborate the properties of short run and long run production functions.
4. The learner will solve profit maximization problem of the firms under different market structures.
5. The learner will clearly define basic macroeoconomic concepts and compare different
macroeconomic theories.
6. The learner will demonstrate understanding of IS-LM curves, aggregate demand and aggregate
supply, savings, investment and consumption.
7. The learner will show the outcomes of different economic policies on national income, price level
and interest rate and will connect real life macroeconomic development with the theoretical
framework by following news in media.

Language of Instruction

English

Course Policies and Rules

1. Attending at least 70 percent of lectures is mandatory.
2. Plagiarism of any kind will result in disciplinary action

Contact Details for the Lecturer(s)

ASSOCIATE PROFESSOR AFIFE DUYGU AKDENIZ

E-mail: aduygu.ayhan@deu.edu.tr

Office Hours

By appointment.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 14 3 42
Preparations before/after weekly lectures 14 3 42
Preparation for midterm exam 1 20 20
Preparation for final exam 1 20 20
Midterm 1 1,5 2
Final 1 1,5 2
TOTAL WORKLOAD (hours) 128

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9PO.10PO.11PO.12PO.13PO.14PO.15
LO.15151
LO.2531231
LO.351441
LO.451121
LO.552221
LO.651241

CONTACT INFORMATION
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Phone: +90(232) 412 12 12 - Fax: +90 (232) 464 81 35

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