GEEC 203 | Course Introduction and Application Information

Course Name
Principles of Economics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
GEEC 203
Fall/Spring
3
0
3
4

Prerequisites
None
Course Language
English
Course Type
Service Course
Course Level
First Cycle
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives This course provides basic knowledge of micro and macroeconomics. The overall purpose of this course is to introduce the student to the concept of a market economy and to investigate how scarce resources are allocated under a price mechanism.Microeconomics topics such as market economies, demand, supply, consumer theory, the theory of the firm, perfect competition; and basic topics in macroeconomics such as national income, employment, unemployment, inflation and economic growth are analyzed.
Learning Outcomes The students who succeeded in this course;
  • Will be able to express what economists mean by the concept of scarcity.
  • Will be able to define basic economic concepts such as opportunity cost, elasticity, economic profit and marginal analysis.
  • Will be able to identify the determinants of demand and supply.
  • Will be able to predict a change in market outcomes given a change in supply or demand.
  • Will be able to explain the concept of market equilibrium.
  • Will be able to analyze firm behavior under perfect competition.
  • Will be able to measure key macroeconomic variables.
  • Will be able to find out basic relationships between the variables such as national income, unemployment, budget deficit, money supply, interest rate, inflation rate, exchange rate, and trade deficit.
Course Content This course provides an introduction to basic models and concepts in microeconomics and macroeconomics. Basic topics in microeconomics analyzed in this course include an introduction to market economies, supply and demand, consumer theory, the theory of the firm, perfect competition. Basic topics in macroeconomics analyzed in this course include national income, employment, unemployment, inflation, and economic growth.

 



Course Category

Core Courses
Major Area Courses
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction: What is Economy -
2 Capitalist Revolution The Economy, The Core Project, Unit 1
3 Technology and Population The Economy, The Core Project, Unit 2
4 Scarcity, Work and Choice The Economy, The Core Project, Unit 3
5 The Firm: Owners, Managers and Employees The Economy, The Core Project, Unit 6
6 The Firm and Its Customers The Economy, The Core Project, Unit 7
7 Supply and Demand: Price Taking and Competitive Markets The Economy, The Core Project, Unit 8
8 First Midterm -
9 Economic Fluctuations and Unemployment The Economy, The Core Project, Unit 13
10 Unemployment and Fiscal Policy The Economy, The Core Project, Unit 14
11 Inflation and Monetary Policy The Economy, The Core Project, Unit 15
12 Technological Progress, Unemployment and Living Standards In the Long-Run The Economy, The Core Project, Unit 16
13 Economic Inequality The Economy, The Core Project, Unit 19
14 Second Midterm -
15 Review
16 Review

 

Course Textbooks

The Economy, Econ Core Project http://www.core-econ.org A free open-source textbook with additional materials. Please get registestered on the book website.

References

 

EVALUATION SYSTEM

Semester Requirements Number Percentage
Participation
16
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Homework / Assignments
4
20
Presentation / Jury
Project
Seminar / Workshop
Portfolios
Midterms / Oral Exams
2
40
Final / Oral Exam
1
30
Total

Contribution of Semester Work to Final Grade
23
60
Contribution of Final Work to Final Grade
1
40
Total

ECTS / WORKLOAD TABLE

Activities Number Duration (Hours) Workload
Course Hours
Including exam week: 16 x total hours
16
3
48
Laboratory / Application Hours
Including exam week: 16 x total hours
16
Study Hours Out of Class
16
1
Field Work
Quizzes / Studio Critiques
Homework / Assignments
4
4
Presentation / Jury
Project
Seminar / Workshop
Portfolios
Midterms / Oral Exams
2
15
Final / Oral Exam
1
15
    Total
125

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Qualifications / Outcomes
* Level of Contribution
1
2
3
4
5
1 Successfully applies theoretical and practical knowledge and skills in Culinary Arst and Management
2 Professionally applies artistic knowledge and skills that are required in the field of Culinary Arts
3 Carries best practices in terms of work and food security, safety and hygiene in food production
4 Appreciates, evaluates and makes decisions regarding to visual, textual and nutritional data with respect to food production and presentation
5 Recognizes and evaluates the impact of gastronomy on culture and society
6 Possesses visual thinking skils and effectively conveys visual concepts
7 Assumes responsibility for solving complex problems that may occur in the field of Culinary Arts and management, both individually and as a team member
8 Initiates culinary projects and can assume leadership for success
9 Critically evaluates the knowledge and skills possessed in Culinary Arts and Management, defines learning requirements and directs own learning
10 Informs individuals and organizations on topics related to Culinary Arts and Management and effectively conveys opinions in verbal or written ways
11 Shares opinions with experts or nonexperts by supporting them with quantitative and qualitative data
12 Possesses necessary knowledge and skills in relevant fields such as gastronomy, design and management and effectively applies them to the practice of Culinary Arts
13 Follows the developments in field and communicates with colleguages by fleuntly using a foreign language
14 Speaks a second foreign language in intermediate level
15 Effectively uses technological equipment related to the field
16 Possesses ethical values in the field of Culinary Arts and Management

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest