FACULTY OF ENGINEERING

Department of Mechatronics Engineering

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
6

Prerequisites
None
Course Language
English
Course Type
Service Course
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
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 Description 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 Supply and Demand: Price Taking and Competitive Markets The Economy, The Core Project, Unit 8
9 Midterm
10 Economic Fluctuations and Unemployment The Economy, The Core Project, Unit 13
11 Unemployment and Fiscal Policy The Economy, The Core Project, Unit 14
12 Unemployment and Fiscal Policy The Economy, The Core Project, Unit 14
13 Inflation and Monetary Policy The Economy, The Core Project, Unit 15
14 Technological Progress, Unemployment and Living Standards In the Long-Run The Economy, The Core Project, Unit 16
15 Review of the Semester  
16 Review of the Semester  

 

Course Notes/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.

Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
16
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
4
20
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
30
Final Exam
1
40
Total

Weighting of Semester Activities on the Final Grade
21
60
Weighting of End-of-Semester Activities on the Final Grade
1
40
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
15
2
30
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
4
12
48
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
12
12
Final Exam
1
30
30
    Total
168

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To have knowledge in Mathematics, science, physics knowledge based on mathematics; mathematics with multiple variables, differential equations, statistics, optimization and linear algebra; to be able to use theoretical and applied knowledge in complex engineering problems

2

To be able to identify, define, formulate, and solve complex mechatronics engineering problems; to be able to select and apply appropriate analysis and modeling methods for this purpose.

3

To be able to design a complex electromechanical system, process, device or product with sensor, actuator, control, hardware, and software to meet specific requirements under realistic constraints and conditions; to be able to apply modern design methods for this purpose.

4

To be able to develop, select and use modern techniques and tools necessary for the analysis and solution of complex problems encountered in Mechatronics Engineering applications; to be able to use information technologies effectively.

5

To be able to design, conduct experiments, collect data, analyze and interpret results for investigating Mechatronics Engineering problems.

6

To be able to work effectively in Mechatronics Engineering disciplinary and multidisciplinary teams; to be able to work individually.

7

To be able to communicate effectively in Turkish, both in oral and written forms; to be able to author and comprehend written reports, to be able to prepare design and implementation reports, to present effectively, to be able to give and receive clear and comprehensible instructions.

8

To have knowledge about global and social impact of engineering practices on health, environment, and safety; to have knowledge about contemporary issues as they pertain to engineering; to be aware of the legal ramifications of engineering solutions.

9

To be aware of ethical behavior, professional and ethical responsibility; information on standards used in engineering applications.

10

To have knowledge about industrial practices such as project management, risk management and change management; to have awareness of entrepreneurship and innovation; to have knowledge about sustainable development.

11

Using a foreign language, he collects information about Mechatronics Engineering and communicates with his colleagues. ("European Language Portfolio Global Scale", Level B1)

12

To be able to use the second foreign language at intermediate level.

13

To recognize the need for lifelong learning; to be able to access information; to be able to follow developments in science and technology; to be able to relate the knowledge accumulated throughout the human history to Mechatronics Engineering.

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

 


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