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Cyprus International University
TR

ESSENTIALS OF ECONOMICS

Course
ECON211 - ESSENTIALS OF ECONOMICS
Department
Economics - English - Undergraduate
Course Type
Course
Status
Required
Language
English
Credit
3
ECTS
6
T+P+L
3 + 3 + 0
Course Coordinator(s)
Asst. Prof. Dr. Isah WADA
Prerequisite
-
Keywords

Course Description

This course aims to give basic knowledge of micro and macroeconomics to students. The aim of the course is to introduce the market economy to the students and to examine how the scarce resources are distributed under the price mechanism. Basic microeconomic issues such as introduction to market economy, demand, supply, consumer theory, firm theory, perfect competition and basic macroeconomic issues such as national income, employment, unemployment, inflation, foreign trade, current account deficit, monetary policy, fiscal policy and economic growth are analyzed. In addition, it gives more emphasis to theoretical analysis than technical analysis. This will enable students to understand and comment on current economic issues more plainly

ESSENTIALS OF ECONOMICS

Evaluation Tools (Active Term)

Item Type Weight (%)
Quiz 1 Quiz 15
Quiz 2 Quiz 15
Midterm Midterm 30
Final Final 40
Total 100

Course outcomes

  1. 01 Learning and applying the system of ideas regarding the economic thought and decision making
  2. 02 Comprehending and being able to apply the cost-benefit principle,
  3. 03 Having a clear idea about factors of production and production costs,
  4. 04 Ability to apply opportunity cost, economic profit and production possibilities frontier concepts in problem solving
  5. 05 Understanding and interpreting the demand and supply concepts in the market
  6. 06 Ability to understand and evaluate the total utility and marginal utility concepts,
  7. 07 Learning elasticity concept and being able to define the factors which affects the elasticity of demand and elasticity of supply.

Course Syllabus

Week Topic
Week 1 Introduction to Economics, what is economics? Micro and Macro Economics
Week 2 Economic way of thinking ; choices ,trade-offs,scarcity ,opportunity cost
Week 3 Production Possibilities Frontier, Budget Line - circular flow diagram
Week 4 Demand and Factors effecting demand -Supply and Factors effecting supply
Week 5 Elasticity - Calculations -Inferior /normal goods, luxury goods, complement and substitute goods
Week 6 midterm
Week 7 midterm
Week 8 Utility and demand
Week 9 output and costs
Week 10 Output and Costs
Week 11 Markets and firms-quiz
Week 12 Perfect Competition
Week 13 Monopoly - quiz
Week 14 Monopolistic competition , oligopolistic markets
Week 15 Revision

Reference Books & Course Materials

  1. 01 Micheal PARKIN , Economics ( 10 th edition ), 2011 ,Pearson, Addison Wesley
  2. 02 Robert FRANK and Ben BERNANKE , Principles of Micro Economics, Brief Edition, Second Edition, 2011, McGraw Hill
  3. 03 N.Gregory MANKIW, (3rd edition), Thomson,South-Western

Learning Outcomes

No learning outcomes have been defined.

Program Outcomes

  1. P01 Students know the stages of production of radio, television and cinema productions, have the ability and competence to plan and implement work in the stages of production.
  2. P02 Students know the basic working principles and operations of audiovisual production tools, have the ability to effectively use these tools in the production process of radio, television and cinema productions.
  3. P03 Students have knowledge about theories in the field of radio, television and cinema.
  4. P04 Students know the historical development process of radio, television and cinema in the world and in Turkey.
  5. P05 Students know the legislation governing the field of radio, television and cinema, national and international professional organizations and ethical principles.
  6. P06 Students know the types of programs in radio and television broadcasting.
  7. P07 Students know the genres and trends of Cinema.
  8. P08 Students know the methods of analyzing and evaluating messages in audio and visual environments.
  9. P09 Students prepare, design and implement project proposals for radio, television and cinema projects suitable for different broadcasting environments.
  10. P10 Students know the techniques of writing scripts, have the ability to write scripts and prepare a shooting script.
  11. P11 Students have the ability to make sound and image editing, apply it in the fields of digital sound design, image design and visual effects use in field-specific content production.
  12. P12 Students have the ability to consider, analyze and evaluate the social, economic, political, cultural, etc. effects of media content in written, audio and visual environments from a critical point of view.
  13. P13 Students have the competence to design and produce programs and/or make films in the field of radio, television and cinema.
  14. P14 Students are proficient in the basic principles of Image aesthetics, visual design, cinematographic language/expression and composition.
  15. P15 Students have knowledge about Radio and Television management.
  16. P16 Students know the standards in field-specific products.
  17. P17 Students are proficient in collaborating for joint work and production in the field of radio, television and cinema.

Po-Lo Matrix

The PO-LO matrix has not been populated yet.