ECON101 INTRODUCTION TO ECONOMICS I
| Course Code: | 3110101 |
| METU Credit (Theoretical-Laboratory hours/week): | 5 (4.00 - 2.00) |
| ECTS Credit: | 8.0 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Prof.Dr. GÜL İPEK TUNÇ |
| Offered Semester: | Fall and Spring Semesters. |
Course Objectives
This course aims to provide a basic understanding of microeconomics. Topics covered include consumer theory, firm theory, the nature and functions of the product and factor markets, market failures and the role of government.
Course Content
The economic problem; theories of supply and demand; various market structures; theory of distribution.
Course Learning Outcomes
Upon completing this course, students are expected to have a basic understanding how product and factor markets work, the likely impact of government regulation on these markets, and the reasons for market failures.