Izlence

Course Code & Number:

ECON 110

Course Title:

Principles of Economics

Level:

BS

Credit Hours/ ECTS Credits:

(3+0+0) 3 TEDU Credits, 5 ECTS Credits

Academic Year

2021

Semester

Fall

Catalog Description:

Basic tools for economic thinking. Framework to evaluate key microeconomic and macroeconomic topics. The nature of economics. A general view of price system. Markets and pricing. The determination and the control of national income. Fiscal policy. Money, banking and monetary policy. International trade and finance. Economic growth and development.

Pre-requisite / Co-requisite

Sap Event ID:

50165385

Learning Outcomes:

Upon succesful completion of this course, a student will be able to
1. apply knowledge of basic economic concepts such as scarcity, opportunity cost, elasticity, economic profit and marginal analysis. 
2. demonstrate their understanding of how markets clear through the interaction of supply and demand. 
3. show graphically and algebraically how firms respond to changing demand and costs. 
4. demonstrate their understanding of the welfare properties of perfectly competitive markets and the consequences of market imperfections on output and welfare. 
5. measure key macroeconomic variables
6. Demonstrate their knowledge of the major macroeconomic issues, policy objectives and national accounts. 
7. 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.
8. Demonstrate their understanding of the extended Keynesian income-expenditure model algebraically and diagrammatically 
9. Understand the creation and role of the Money in the economy. 
10. Use the model to analyze a variety of fiscal and monetary policy choices. 

Learning Activities and Teaching Methods:

Assessment Methods and Criteria: