Economics

Course Code:

ECON 291

Course Period:

Spring

Course Type:

Core

P:

3

Application:

0

Credits:

3

ECTS:

6

Course Language:

İngilizce

Course Objectives:

The main aim of the course is to provide the student with a basic understanding of the economic and financial environment in which the firm exists and operates.

Course Content:

The inter-relation among product-markets, factor-markets, and financial-markets, Debt-financing, equity-financing, and retained- earnings, The balance between debt-financing and equity-financing, and the effect on the value of the firm, The time-value-of-money and applications: Capital budgeting: Net present value (NPV) and project evaluation, Present-value and future-value concepts, and deriving the time value of money equations, Four major Market-structures and determinants of firm market-power.

Course Methodology:

1: Lecture, 2: Question-Answer, 3: Discussion, 12: Case Study

Course Evaluation Methods:

A: Testing, B: Experiment, C: Homework, Q: Quiz

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Course Learning Outcomes

Learning Outcomes	Program Outcomes	Educating Methods	Assessment Methods
Provides the student with a basic understanding of the economic and financial environment in which the firm exists and operates	2,11,14,16	1, 2, 3,12	A-C
Prepares and equips the student to better participate in the various economic and financial processes of the firm	1,2,3,11,12,14,16,17,18,19,20	1, 2, 3,12	A-C
Increases student’s potential for success for future employment; and increases the student’s potential for success in managing a business.	1,2,3,11,12,14,16,17,18,19,20	1, 2, 3,12	A-C
Enhances the skills regarding analytical-reasoning and practical-applications that can be of use in professional decision-making in business	17,18,19	1, 2, 3,12	A-C

Course Flow

Week	Subjects	Preliminary
1	Introduction: How an economy works: The inter-relation among product-markets, factor-markets, and financial-markets	Chapters 1 & 2
2	Introduction (continued): How an economy works: The inter-relation among product-markets, factor-markets, and financial-markets	1 & 2
3	How firms finance new capital-expenditure: Debt-financing, equity-financing, and retained- earnings	4
4	How firms finance new capital-expenditure: Debt-financing, equity-financing, and retained- earnings	12
5	The balance between debt-financing and equity-financing, and the effect on the value of the firm	13
6	The balance between debt-financing and equity-financing, and the effect on the value of the firm	14-15-16
7	Review for the midterm: Problem set and Study guide discussion
8	The time-value-of-money and applications: Capital budgeting: Net present value (NPV) and project evaluation	21
9	The time-value-of-money and applications: Capital budgeting (continued): Net present value (NPV) and project evaluation	22-23
10	The time-value-of-money concepts: Present-value and future-value concepts, and deriving the time value of money equations	25
11	The time-value-of-money concepts: Present-value and future-value concepts, and deriving the time value of money equations	26
12	Four major Market-structures and determinants of firm Market-power	32
13	Four major Market-structures and determinants of firm Market-power	33
14	Review for the Final exam: Problem set and Study guide discussion	34

Recommended Sources

Lecture Book	Foundations of Economics; R.Bade&M.Parkin ,Pearson
Other Resources	Daily news, newspapers and economy blogs

Material Sharing

Documents	Problem sets as study guides for the midterm and final
Duties	-
Exam	-

Assessment

WORKS IN SEMESTER	TIME	CONTRIBUTION PERCENTAGE
IN-TERM STUDIES	NUMBER	PERCENTAGE
Mid-terms	1	80
Quizzes (attendance, presentation, etc.)	1	20
Assignments	0	0
	Total	100
Contribution of Final Examination to Overall Grade		50
Contribution of In-Term Studies to Overall Grade		50
	Total	100

Course’s Contribution to Program

No	Program Learning Outcomes	Contribution Level
No	Program Learning Outcomes	1	2	3	4	5
1	Students should be able to analyze the developments in the world and Turkish economy and examine how Turkish economy is affected by these changes.				X
2	Students should examine the growth and accumulation of economic thought and critically evaluate it.			X
3	Students should analyze contemporary subjects in international political economy.				X
4	Students should possess qualitative and quantitative knowledge and techniques to test different economic theories in order to solve contemporary economic problems.	X
5	Students should analytically evaluate economic problems and explain logical patterns, assumptions and results of different perspectives.	X
6	Students should be able to use statistics and econometric analysis programs.
7	Students should possess the sufficient knowledge, discipline and responsibility to be able to conduct independent study/ project/research and a comprehensive research and/or project report.	X
8	Students should be able to fulfill their responsibility in teams and projects in businesses as well as being able and capable to act as a leader.	X
9	Students should be able to design and plan projects to achieve organizational goals and objectives and/or improve organizational performance.	X
10	Students should be able to critically evaluate the body of knowledge in the fast changing economics arena, and assess self-competency, and direct self-learning efforts accordingly.			X
11	Students should understand the importance of life-long learning and self-assessment to maintain their personal and professional development.					X
12	Students should understand that the rapidly-evolving dynamics of national and global environments requires flexible thinking, adaptability, and the ability to formulate innovative solutions to pursue a successful career.					X
13	Students should be able to effectively communicate in written or oral English with people from diverse backgrounds, and should have the English proficiency to follow and interpret the global dynamics that shape the economics area.
14	Students should be able to clearly and effectively convey their knowledge, ideas, research, and conclusions supported with relevant data, in national/international interdisciplinary academic and professional settings in Turkish or in English.
15	Students should understand the importance of respect for individual and cultural diversity, and should be able to emphatically interact with individuals from diverse cultural backgrounds in social and professional settings.				X
16	Students should be able to effectively utilize computer, communication and information technologies commonly used in economics.
17	Students should understand the standards of personal, professional and social ethics, evaluate the ethical implications of various practices related to the area of business administration, and have awareness of the importance of ethical behavior in adding value to society.				X
18	Students should understand the personal, social and ecological dimensions of social responsibility and have the awareness that being socially responsible is an active citizenship duty of each and every individual.				X
19	Students should know that universality of social rights and social justice are the principle components of contemporary society and that scientific thinking in essential prerequisite for maintaining social advancement and global competitiveness.				X
20	Students should understand the importance of quality, safety and health management, corporate social responsibility, personal, professional and cross-cultural respect and professional ethics in maintaining organizational sustainability.

ECTS

Activity	Number	Time (Hour)	Total Work Load (Saat)
Course Duration (Including the Exam Week: 15 x total course hours)	15	3	45
Hours for off-the-classroom study (Pre-study, practice)	15	5	75
Mid-terms	1	3	3
Quizzes (attendance, presentation, etc.)	1	3	3
Assignments	0	0	0
Final Examination	1	3	3
Total Work Load			129
Total Work Load / 25 (s)			5,16
ECTS Credit of the Course			6

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