FINAL INTERNATIONAL UNIVERSITY

FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES

Course Outline
2022-2023 Fall Semester

Weekly Course Total Pre- Language of

Course Code Course Title Course Type ECTS
Hours Credit requisite Instruction

Introduction to
ECON111 Economics I FC 3 0 0 3 7 None English

Instructor Vahid Sajjad Asistant None

e-mail address vahid.sajjad@final.edu.tr e-mail address …..
Ofice No. AS114 Ofice No. …..
Ofice Telefone No. 1143 Ofice Telefone No. …..
Office hours To be announced Office hours …..
Web Address Web Address …..
Coordinator Assoc.Prof.Dr. Alla Mostepaniuk
e-mail address alla.mostepaniuk@final.edu.tr
Ofice No. AS120
Ofice Telefone No. 1149
Office hours …..
Web Address ……

The course provides theoretical knowledge and practical skills on the main concepts of microeconomics
such as the production possibilities frontier and the ways of using it to calculate opportunity cost; the way
how demand and supply determine prices and quantities bought and sold; how to use the demand and
supply model to make predictions about changes in prices and quantities; how markets work with
Course Description international trade; how to identify the gains from international trade and its winners and losers; how to
determine the limits to consumption and describe preferences using the concept of utility; how to build a
household’s budget line and show how it changes when prices or income change; how to predict the
effects of changes in prices and income on consumption choices.

General objective The main aim of this course is to introduce main topics in microeconomics and prepare students for
of the course intermediate and advance micro economic courses both in undergraduate and post-graduate.

On successful completion of the course, students will have acquired knowledge of

• understanding key concepts in microeconomics,

• understanding the role of individuals, business and the government in the economy

• describing basic models such as demand and supply and demonstrating how these models work
Learning Outcomes
• describing the principles of consumer choices

On successful completion of the course, students will have practical skills in

Learning Outcomes

• using analytical graphs and techniques to analyze economic issues and propose solutions to basic economi
• making economic predictions using various theoretical models,
• applying knowledge of basic economic concepts such as opportunity cost, elasticity, economic
profit and marginal analysis in both coursework and business decision making.

On successful completion of the course, students will have appreciation of values related to

• the need for efficient markets,

Learning Outcomes
• the role of decision makers in an economic system such as households, firms, government etc.,

• the importance of economic incentives and interests in the decision making process,

• the importance of the state's regulation of the economy.

Textbook Parkin, M. (2019) Economics. 13th Edition, Pearson Education Ltd., Harlow.

Secondary
textbooks and Coursepack prepared by the instructor.
other materials

WEEKLY SCHEDULE
WEEK Topics
Week 1 WHAT IS ECONOMICS? chp1
Week 2 THE ECONOMIC PROBLEM chp2
Week 3 DEMAND AND SUPPLY chp 3
Week 4 DEMAND AND SUPPLY chp3
Week 5 ELASTICITY chp 4
Week 6 GOVERNMENT ACTIONS IN MARKETS chp 6
Week 7 GOVERNMENT ACTIONS IN MARKETS chp 6
Week 8 Midterm Exams
Weeks 9 GLOBAL MARKETS IN ACTION chp 7
Week 10 GLOBAL MARKETS IN ACTION chp 7
Week 11 UTILITY AND DEMAND Chp 8
Week 12 UTILITY AND DEMAND Chp 8
Week 13 POSSIBILITIES, PREFERENCES, AND CHOICES Chp 9
Week 14 POSSIBILITIES, PREFERENCES, AND CHOICES Chp 9
Week 15 Revision
Week 16 Final Exams

TEACHING - The course will consist of three hours of lecture per week. Expository teaching method will be
LEARNING used for the greater part of the course. However, active participation of each student is
APPROACH required during discussions and presentations. The processes and concepts will become the
bases for class discussions and for the required project in measurement and evaluation.

REQUIREMENTS FOR SUCCESS

To be successful in this course the students should:
• attend all classes (Students with attendance less than 75% will receive an NG grade and will not be
allowed to take the final examination).
• take all examinations and receive minimum required scores.
• come to class prepared to demonstrate effective participation in class discussions.
• not take or give their work to anyone.

TIME SPENT FOR THE COURSE AND ECTS CREDIT CALCULATION

Activity Number Time (hour) Total time (hour)
Lecture time ( 14xperiods per week) 14 3 42
Out of class Study time (14xstudy time per week) 14 7 98
Time spent studying for the quiz 2 6 12
Time spent studying for the midterm exam 1 12 12
Time spent studying for the final exam 1 16 16

Total time spent 180

Total time spent / 25(hours) 7.2
ECTS Credits 7

METHODS OF ASSESSMENT
Student success will be evaluated as the following:
Type of assessment Number Weight (%) Total (%)
Midterm Exam 1 35 35
Quiz 2 10 20
Final Exam 1 45 45
Grand Total 100