| School/Faculty/Institute | Faculty of Engineering | ||||
| Course Code | ECON 112 | ||||
| Course Title in English | Economics for Engineering | ||||
| Course Title in Turkish | Mühendislik için Ekonomi | ||||
| Language of Instruction | EN | ||||
| Type of Course | Lecture | ||||
| Level of Course | Introductory | ||||
| Semester | Fall | ||||
| Contact Hours per Week |
|
||||
| Estimated Student Workload | 126 hours per semester | ||||
| Number of Credits | 5 ECTS | ||||
| Grading Mode | Standard Letter Grade | ||||
| Pre-requisites | None | ||||
| Co-requisites | None | ||||
| Expected Prior Knowledge | None | ||||
| Registration Restrictions | None | ||||
| Overall Educational Objective | To learn the economic system and obtain profound skills to analyze economic situations which are relevant for an engineer’s professional practice. | ||||
| Course Description | The course introduces to basic concepts of economics. The course content begins with the analyses of market mechanisms, which are perceived as the elementary organization form of the economy. Subsequently, the role of governmental policies and regularizations are incorporated into the analyses. Firm behavior and the organization of the industry are described in further details. Long-run and short-run dynamics of macroeconomic variables are investigated. The analyzed theoretical concepts are critically reviewed by the help of empirical data. The course ends with applications of presented methods on selected special topics. |
Course Learning Outcomes and CompetencesUpon successful completion of the course, the learner is expected to be able to:1) Analyze market mechanisms, which are perceived as the elementary organization form of the economy 2) Incorporate the role of governmental policies and regularizations into the analyses 3) Describe firm behavior and the organization of the industry 4) Use tools for better understanding of both, the potentials and the limits of economic policy 5) Use computer software to make basic calculations for analyzing economic situations |
| Program Learning Outcomes/Course Learning Outcomes | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| 1) An ability to identify, formulate, and solve complex engineering problems by applying principles of engineering, science, and mathematics | |||||
| 2) An ability to apply engineering design to produce solutions that meet specified needs with consideration of public health, safety, and welfare, as well as global, cultural, social, environmental, and economic factors | |||||
| 3) An ability to communicate effectively with a range of audiences | |||||
| 4) An ability to recognize ethical and professional responsibilities in engineering situations and make informed judgments, which must consider the impact of engineering solutions in global, economic, environmental, and societal contexts | |||||
| 5) An ability to function effectively on a team whose members together provide leadership, create a collaborative and inclusive environment, establish goals, plan tasks, and meet objectives | |||||
| 6) An ability to develop and conduct appropriate experimentation, analyze and interpret data, and use engineering judgment to draw conclusions | |||||
| 7) An ability to acquire and apply new knowledge as needed, using appropriate learning strategies |
| N None | S Supportive | H Highly Related |
| Program Outcomes and Competences | Level | Assessed by | |
| 1) | An ability to identify, formulate, and solve complex engineering problems by applying principles of engineering, science, and mathematics | N | |
| 2) | An ability to apply engineering design to produce solutions that meet specified needs with consideration of public health, safety, and welfare, as well as global, cultural, social, environmental, and economic factors | N | |
| 3) | An ability to communicate effectively with a range of audiences | N | |
| 4) | An ability to recognize ethical and professional responsibilities in engineering situations and make informed judgments, which must consider the impact of engineering solutions in global, economic, environmental, and societal contexts | H | Exam |
| 5) | An ability to function effectively on a team whose members together provide leadership, create a collaborative and inclusive environment, establish goals, plan tasks, and meet objectives | N | |
| 6) | An ability to develop and conduct appropriate experimentation, analyze and interpret data, and use engineering judgment to draw conclusions | N | |
| 7) | An ability to acquire and apply new knowledge as needed, using appropriate learning strategies | N |
| Prepared by and Date | UTKU KOÇ , December 2018 |
| Course Coordinator | MEHMET FEVZİ ÜNAL |
| Semester | Fall |
| Name of Instructor | Prof. Dr. MURAT DONDURAN |
| Week | Subject |
| 1) | Introduction and Principles |
| 2) | Trade and Market Mechanisms |
| 3) | Elasticity, Market Mechanisms and Government Policies |
| 4) | Markets and Welfare |
| 5) | Economics of the Public Sector |
| 6) | Firm Behavior and Industrial Organization |
| 7) | Economics and Information |
| 8) | Data and Empirical Evidence |
| 9) | Production, Growth, Saving and Investments |
| 10) | Financial Economics |
| 11) | Monetary System |
| 12) | Short-Run Economic Fluctuations |
| 13) | International Economics and Macroeconomic Policy |
| 14) | Applications for International Economics |
| 15) | Final/Project/Presentation period |
| 16) | Final/Project/Presentation period |
| Required/Recommended Readings | Required: N. Gregory Mankiw. “Essentials of Economics”, South-Western Cengage Learning, 6th or 7th edition. Frank, Bernanke. “Principles of Economics”, McGraw-Hill, 5th edition. Recommended: Tim Harford, “The Undercover Economist”, Random House Trade Paperbacks, 2010. Miller, Benjamin, North. “The Economics of Public Issues”, Pearson Series in Economics, 18th Edition, Paperback, 2013. | |||||||||||||||
| Teaching Methods | Lectures and class discussions | |||||||||||||||
| Homework and Projects | None | |||||||||||||||
| Laboratory Work | None | |||||||||||||||
| Computer Use | For analysis of economic situations | |||||||||||||||
| Other Activities | None | |||||||||||||||
| Assessment Methods |
|
|||||||||||||||
| Course Administration |
Instructor’s office and phone number: office hours: email address: Rules for attendance: Attendance is not mandatory, though highly necessary Missing a quiz: Provided that proper documents of excuse are presented, each missed quiz by the student will be given a grade by taking the average of all of the other quizzes. No make-up will be given. Missing a project: Project deadlines are always extendable up to 72 hours, with submissions late for (0,24] hours receive 70% of the credit they get, (24,48] hours receive 35% , and (48,72] receive 10%. Missing a midterm: Provided that proper documents of excuse are presented, each missed midterm by the student will be given the grade of the final exam. No make-up will be given. Missing a final: Faculty regulations. A reminder of proper classroom behavior, code of student conduct: YÖK Regulations Statement on plagiarism: YÖK Regulations (http://3fcampus.mef.edu.tr/uploads/cms/webadmin.mef.edu.tr/4833_2.pdf ) Plagiarism and cheating will be treated according to the university’s regulations and legal administration. Dean’s office will be informed in case of cheating during the exams. |
|||||||||||||||
| Activity | No/Weeks | Hours | Calculation | ||||
| No/Weeks per Semester | Preparing for the Activity | Spent in the Activity Itself | Completing the Activity Requirements | ||||
| Course Hours | 14 | 1 | 3 | 56 | |||
| Quiz(zes) | 8 | 3 | 1 | 32 | |||
| Midterm(s) | 2 | 10 | 2 | 24 | |||
| Final Examination | 1 | 12 | 2 | 14 | |||
| Total Workload | 126 | ||||||
| Total Workload/25 | 5.0 | ||||||
| ECTS | 5 | ||||||