Course Learning Outcomes (CLOs) are those describing the knowledge, skills and competencies that students are expected to achieve upon successful completion of the course. In this context, Course Learning Outcomes defined for this course unit are as follows:
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| Knowledge
(Described as Theoritical and/or Factual Knowledge.)
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1) Knows the main problematic of economics
2.1) Understanding the basic problems that economics tries to answer.
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2) Knows what supply and demand are, how they arise and how they become related to one another
3.2) Understanding the basic facts behind the concepts of supply and demand.
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3) Understanding the concept of market, understanding how the basic forces that determine market functioning work.
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4)
5.3) Learning to understand and calculate supply and demand elasticities and their types.
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5) Knows the market types and their behavior patterns
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6)
7.4) Explaining profit maximization, which is the basic principle of firm behavior, with production, costs and factor usage decisions.
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7) Knows the concept of consumer utility and the economic principles of consumer behavior.
8.5) Factors determining the formation and size of consumer surplus and understanding utility maximization on the basis of consumer surplus.
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8)
9.6) Explaining and interpreting different forms of firm behavior in oligopoly markets within the framework of the basic assumptions of game theory.
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| Skills
(Describe as Cognitive and/or Practical Skills.)
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1) Knows the concept of 'market'; can calculate how a market will reach equilibrium and how it will behave
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2) Knows the concept of elasticity and can make elasticity calculations
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3) Knows the production costs of a firm and can calculate how a firm should behave under given market conditions.
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4) Knows the game theory and can apply the theory as a decision-making tool under given situations.
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| Competences
(Described as "Ability of the learner to apply knowledge and skills autonomously with responsibility", "Learning to learn"," Communication and social" and "Field specific" competences.)
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| Week |
Subject |
Materials Sharing * |
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Related Preparation |
Further Study |
| 1) |
General framework, basic economic concepts |
Sinan Alçın, İktisada Giriş, Seçkin Yayınları, 2022
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| 2) |
Basic Economic Concepts | Value, Choice and Utility |
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| 3) |
Demand and Supply |
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| 4) |
Market Balance | Deviations from Equilibrium and State Intervention |
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| 5) |
Elasticity - I |
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| 6) |
Elasticity - II |
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| 7) |
Consumer Equilibrium Theory |
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| 8) |
Midterm Exam |
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| 9) |
Producer Equilibrium Theory |
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| 10) |
Cost Theory |
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| 11) |
Goods Markets I - Perfect Competition Market |
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| 12) |
Goods Markets II - Imperfect Competition Markets |
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| 13) |
Factor Markets and Income Distribution |
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| 14) |
Overwiew |
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| 14) |
Game theory |
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(KPLOs and SPLOs are the abbreviations for Key & Sub- Programme Learning Outcomes, respectively. )
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Programme Learning Outcomes |
Contribution Level (from 1 to 5) |
1) |
Students learn and apply knowledge, concepts and theories in basic and sub-fields of management. |
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1.1 Students are competent with using knowledge of all basic fields of management such that strategic management, organizations, finance, accounting, marketing and human resources in daily business problems. |
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1.2 Students learn basic knowledge in sub-fields of management such as mathematics, statistics, behavior science, law, information technologies. |
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2) |
Students acquire ability to effectively plan and use economic, technological and human sources and tools in organizations by applying appropriate theories and methods. |
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2.1 Students use economic and technological sources effectively and efficiently in the field of business administration. |
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2.2 Students use information and communication technologies effectively in business practices. |
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3) |
Students have competencies of eagerness for life-long learning, easiness to comply with innovation and change as an employee/employer/manager to meet modern business life's expectations. |
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3.1 Students use competencies of time management and self-discipline to reach strategic aims. |
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3.2 Students plan and manage information and communication processes efficiently. |
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3.3 Students acquire skills for leadership and teamwork, entrepreneurship and change management. |
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3.4 Students solve problems and make decisions with an awareness of ethical values and social responsibilities. |
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4) |
Students apply what they learn theoretically in real business life during a semester. |
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4.1 Students experience all processes in business life. |
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4.2 Students take part in activities related to their major field in a real business. |
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4.3 Students have the chance to compare theoretical postulates and real business practice. |
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4.4 Students gain knowledge and experience in their major field. |
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5) |
Students acquire the competencies expected by business world and society as they defined in institutional outcomes of our university on an advanced level. |
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5.1 Students acquire problem-analyzing and -solving, and conflict resolution skills. |
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5.2 Participates as a team member and takes responsibility in the environments that require the solving of the conflicts and acts as a leader when necessary. |
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5.3 Has awareness for ethical and social responsivity. |
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5.4 By supporting the learnt courses with quantitative and qualitative data; and by using verbal and visual communication means, s/he transfers them to the groups within and outside his/her group in a systematical and effective way. |
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5.5 Evaluates the norms and standards present in the works in which s/he takes responsibility in a critical point of view. |
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5.6 Develops strategical, innovative and entrepreneurial ideas. |
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5.7 Acquires competence of managing the change. |
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5.8 Shows development personally and socially with and awareness for lifelong learning. |
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5.9 Follows advanced technologies and developments about digital transformation. |
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5.10 Students have cultural consciousness at a level they can transfer to groups among and beyond their major field. |
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5.11 Students have citizenship consciousness. |
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5.12 Acquires communication in a Foreign Language (English) competence defined on the level of at least B1 in European Language Portfolio. (In programs whose medium of instruction is English, on the level of B2/B2+). |
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| WORKLOAD OF TEACHING & LEARNING ACTIVITIES |
| Teaching & Learning Activities |
# of Activities per semester |
Duration (hour) |
Total Workload |
| Course |
14 |
3 |
42 |
| Laboratory |
0 |
0 |
0 |
| Application |
0 |
0 |
0 |
| Special Course Internship (Work Placement) |
0 |
0 |
0 |
| Field Work |
0 |
0 |
0 |
| Study Hours Out of Class |
14 |
2 |
28 |
| Presentations / Seminar |
0 |
0 |
0 |
| Project |
0 |
0 |
0 |
| Homework Assignments |
0 |
0 |
0 |
| Total Workload of Teaching & Learning Activities |
- |
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70 |
| WORKLOAD OF ASSESMENT & EVALUATION ACTIVITIES |
| Assesment & Evaluation Activities |
# of Activities per semester |
Duration (hour) |
Total Workload |
| Quizzes |
2 |
6 |
12 |
| Midterms |
1 |
12 |
12 |
| Semester Final Exam |
1 |
24 |
24 |
| Total Workload of Assesment & Evaluation Activities |
- |
- |
48 |
| TOTAL WORKLOAD (Teaching & Learning + Assesment & Evaluation Activities) |
118 |
| ECTS CREDITS OF THE COURSE (Total Workload/25.5 h) |
5 |
ECTS Information Package / Course Catalogue