EM517 BUSINESS ECONOMICS
| Course Code: | 8660517 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 8.0 |
| Department: | Engineering Management |
| Language of Instruction: | English |
| Level of Study: | Graduate |
| Course Coordinator: | Prof.Dr. YUSUF ÇAĞLAR GÜVEN |
| Offered Semester: | Fall or Spring Semesters. |
Course Objectives
It is essential for engineering managers to have a sound understanding of the business environment;
- the nature of the firm
- the type of markets it operates in
- the nature and extent of competition
- the operational, managerial and strategic decisions
that the firm must face.
This course presents the fundamentals of business economics, issues such as production, pricing and competitive strategy. A discussion of major macroeconomic issues that impact business decisions will also be included.
The relevance and significance of issues adressed in all the other courses of the EM programme will thus have been brought into focus from an integrating perspective.
Course Content
A review of quantitative microeconomics theory covering demand, production and market structures. A selection of medium to long term issues such as competition and pricing. Concepts of equilibrium and welfare. Modern topics in industrial economics such as the transaction cost and property rights approaches and government regulation.
Course Learning Outcomes
Students will have a sound understanding of the business environment;
- the nature of the firm,
- the type of markets it operates in,
- the nature and extent of competition,
- the operational, managerial and strategic decisions
- macroeconomic issues impacting businesses
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Have improved awareness of financial aspects, risks and trade-offs associated with the decisions. | ✔ | |||
| 2 | Can effectively solve complex problems in areas related with their background, integrating their non-Industrial Engineering undergraduate educational knowledge with the Engineering Management skills. | ✔ | |||
| 3 | Can integrate their engineering skills with practical business knowledge. | ✔ | |||
| 4 | Appreciate the academic ethics. | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution