ECON102 INTRODUCTION TO ECONOMICS II
| Course Code: | 3110102 |
| 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: | Assist.Prof.Dr EREN GÜRER |
| Offered Semester: | Fall and Spring Semesters. |
Course Objectives
This course aims to provide students with a comprehensive understanding of key macroeconomic concepts and their applications in understanding "macroeconomic policy". By the end of the course, students will be able to analyze the principles of macroeconomics, including the measurement of Gross Domestic Product (GDP), economic growth, and business cycles. Students will gain insight into unemployment, inflation, and the role of aggregate demand in determining national income and output. Through the exploration of fiscal policy, monetary systems, and the impact of financial institutions, students will assess how policy decisions influence economic stability. The course will also cover topics including short- and long-term relationships between inflation and unemployment, and current issues in macroeconomic theory, such as macroeconomic instability. Additionally, students will evaluate the global aspects of macroeconomics, including international trade, exchange rates, and economic development challenges faced by developing countries.
Course Content
Firms and fiscal policy; interdependence of the economy; national income; theory of income determination; money and banking; monetary policy; international trade and finance.
Course Learning Outcomes
Upon completing this course, students should be able to describe and explain key macroeconomic indicators such as GDP, economic growth, unemployment, and inflation; analyze national income and output in th short and long run; define and assess the impacts of fiscal and monetary policies; understand how financial systems function; and evaluate the effects of international trade, exchange rates, and trade deficits on an economy, as well as the challenges faced by developing economies in achieving sustainable economic development.
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Use and develop skillfully economic concepts and theories, analyse economic behaviour and events by conceptualizing and evaluating via scientific methods (Has skills regarding theory and analysis) | ✔ | |||
| 2 | Evaluate how economic policies affect economic performance and how economic interest, relationship and interaction affect policy decisions (Knowledgeable about economic policies) | ✔ | |||
| 3 | Design and carry out studies regarding data collection, analysis and evaluation, that can be used in decision processes at every level (individual, firm, government, etc.)(Knowledgeable about quantitative and qualitative methods) | ✔ | |||
| 4 | Evaluate systematically and compare economic knowledge, phenomena and methodology; Develop critical, creative/innovative approaches to these (Critical, creative, innovative) | ✔ | |||
| 5 | Understand current economic phenomena and relevant political developments using information and data from various resources and provide multifaceted explanations (Concerned about current events) | ✔ | |||
| 6 | Follow developments in economic theory and methods; Be open to continuous learning (Open to continuous learning) | ✔ | |||
| 7 | Have skills to work independently and in a team (Individual and teamwork) | ✔ | |||
| 8 | Approach critically to economic and societal events and problems while being sensitive to social problems; Produce solutions to these problems by scientific approach; Share own thoughts (Sensitive to social problems) | ✔ | |||
| 9 | Communicate clearly, effectively and fluently (in English and Turkish) verbally and in writing, utilizing new technologies (Has effective communication skills) | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution