School of Economics and Administrative Sciences \ Economics
Course Credit
ECTS Credit
Course Type
Instructional Language
Programs that can take the course
Law Bachelor's Degree Program
Introduction of basic economic schools of thought; basic institutions and concepts in international economics: comparative advantage; gains from foreign trade; economic growth and international trade; causes and effects of protectionism; foreign exchange market; exchange rate determination; exchange rate systems; balance of external payments; international monetary system; international trade and finance organizations; monetary union and the European monetary system.
Textbook and / or References
Introduction to Economics-I by Ahmet Tiryaki (ed.) (Anadolu Univ. Yayınevi)
Principles of Economics by Karl E. Case, Ray C. Fair and Sharon Oster (Pearson) 14th Edition or earlier
The objective of this course is to provide students with an introduction to the fundamental concepts and principles of economics. It aims to develop students’ ability to think analytically like economists, understand how markets function, and grasp the basic mechanisms of macroeconomic and microeconomic systems.
1. Understand the basic concepts and terminology of microeconomics and macroeconomics.
2. Analyze how supply, demand, and price mechanisms function in various market structures.
3. Evaluate basic macroeconomic indicators such as GDP, inflation, and unemployment, and their impact on the overall economy.
Week 1: Basic Concepts, Scope and Methodology of Economics
Week 2: How Markets Work? Market Forces and Equilibrium
Week 3: Demand, Supply, and Market Equilibrium
Week 4: Demand and Supply Applications
Week 5: Elasticity
Week 6: The Production Process: The Behavior of Profit-Maximizing Firms
Week 7: Input Demand: The Labor and Land Markets
Week 8: Input Demand: The Capital Market and the Investment Decision
Week 9: General Equilibrium and the Efficiency of Perfect Competition
Week 10: Introduction to Macroeconomics
Week 11: Measuring National Output and National Income
Week 12: Unemployment, Inflation, and Long-Run Growth
Tentative Assesment Methods
• Midterm 35%
• Homework 30%
• Final Exam 35%
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