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TR

FUNDAMENTALS OF ECONOMICS

Course
ECON110 - FUNDAMENTALS OF ECONOMICS
Department
Economics - English - Undergraduate
Course Type
Course
Status
Required
Language
English
Credit
3
ECTS
5
T+P+L
3 + 0 + 0
Course Coordinator(s)
Asst. Prof. Dr. Isah WADA
Prerequisite
-
Keywords

Course Description

This course provides a foundational understanding of economics, covering essential concepts that underpin both microeconomics and macroeconomics. Students will explore key topics such as supply and demand, market structures, the role of government in the economy, inflation, unemployment, and international trade. The course emphasizes the importance of economic reasoning and decision-making, providing students with the tools to analyze economic issues in both personal and professional contexts. By completion of the course, students will have a solid grasp of basic economic principles.

FUNDAMENTALS 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 Cognizance tht agriculture is indeed a type of business enterprise
  2. 02 Awareness of risks particular to agriculture
  3. 03 Awreness of the spcificity of markets in agricultural commodities
  4. 04 Appreciation fo the different types of costs particular to agriculture
  5. 05 Apreciation of the improtance of cash flows and money managemet

Course Syllabus

Week Topic
Week 1 Agriculture as a business enterprise
Week 2 Risk and risk takers. Risks closely associated with agriculture. Examples
Week 3 The business idea and its appliation to agriculture. Cases
Week 4 Fixed and variable costs in agriculture. Studies with numerical examples
Week 5 Break-even analysis in agriculture. Cases and examples
Week 6 Market power and competition. Types of markets
Week 7 Cases of market types in agriculute. Real life examples of market power
Week 8 Mid term exam week
Week 9 Markets of agricultural commodities. Some lessons to the producers
Week 10 Sensitivity analysis. Case studies
Week 11 Further cases of sensitivity analysis
Week 12 Cash flow analysis
Week 13 Cash flow anlysis - examples and real cases
Week 14 Success stories in contemporary agiculture
Week 15 Final exam week

Reference Books & Course Materials

  1. 01 Drummond, H, and Goodwin, Johnd W: "Agricultural Economics", third eition Pearson ISBN-13-978-01-36071921

Learning Outcomes

  1. L01 Cognizance tht agriculture is indeed a type of business enterprise
  2. L02 Awareness of risks particular to agriculture
  3. L03 Awreness of the spcificity of markets in agricultural commodities
  4. L04 Appreciation fo the different types of costs particular to agriculture
  5. L05 Apreciation of the improtance of cash flows and money managemet

Program Outcomes

  1. P01 Has knowledge of social service application areas (health, social welfare services, education, social security, civil society, local government).
  2. P02 Has knowledge of social work theories (system, ecology, empowerment theory).
  3. P03 Has knowledge of human development and social environment.
  4. P04 Use knowledge of communication skills (with individuals, families, groups and different social groups).
  5. P05 Use knowledge of management and management processes (management of private and public social service institutions and organizations)
  6. P06 Apply knowledge of research methods and techniques in social work.
  7. P07 Has the ability to perform planned change process (linking, diagnosis and evaluation, planning, implementation, evaluation, termination and monitoring of applications) by considering similarities and differences for all levels of applicants.
  8. P08 Social service application areas (Health, education, social security, civil society, local government), social service theories (system, ecology, empowerment theory), human development and social environment, communication (with individuals, families, groups and different social groups) apply management and management processes (management of private and public social service institutions and organizations), research methods and techniques, professional ethics, principles and values, and the ability to practice social work with different client groups.
  9. P09 Has the ability to distinguish and collect appropriate information for social investigation, evaluation and report preparation
  10. P10 Has the ability to interpret research results and professional literature.
  11. P11 Has the ability to develop inter-institutional relations, communication and joint services.
  12. P12 Acts in accordance with professional ethics, norms and standards that determine duties and rights related to social work profession.
  13. P13 It adopts social justice and rights based approach within the framework of social, scientific, cultural and professional values.
  14. P14 Develop an understanding of individual, family, group, institution, community, community and global practices in order to improve social functionality and facilitate social change
  15. P15 Becomes a model to the society with knowledge, skills, values ​​and attitudes and adopts the understanding of lifelong learning.

Po-Lo Matrix

LO P01 P02 P03 P04 P05 P06 P07 P08 P09 P10 P11 P12 P13 P14 P15 Average
L01 - - - - - - - - - - - - - - - -
L02 - - - - - - - - - - - - - - - -
L03 - - - - - - - - - - - - - - - -
L04 - - - - - - - - - - - - - - - -
L05 - - - - - - - - - - - - - - - -