ECO210 PRINCIPLES OF ECONOMICS
| Course Code: | 3520210 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 5.0 |
| Department: | Economics |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Assoc.Prof.Dr. EMRE ÖZÇELİK |
| Offered Semester: | Fall and Spring Semesters. |
Course Objectives
At the end of this course, the student will learn:
- the fundamental microeconomic and macroeconomic concepts
- the basic theories behind consumer behavior (demand) and producer behavior (supply) constrained by the scarcity of resources.
- the determination and the control of national income.
- how fiscal and monetary policies can be used to influence key economic variables.
Course Content
A course designed for students who do not pursue Economic and Administrative Sciences Undergraduate Degrees. The nature of economics. A general view of price system. Markets and pricing. The determination and the control of national income. Fiscal policy. Money, banking and monetary policy. International trade and finance. Economic growth and development.
Course Learning Outcomes
After passing this course students will be able to:
- use graphs of economic relationships as a tool for economic analysis
- use supply and demand analysis to explain the likely impact of changes in economic conditions and policies
- understand the basic macroeconomic concepts such as determination of aggregate income
- describe the determinants of aggregate output and the ways to measure Gross Domestic Product
- discuss key macroeconomic concerns such as unemployment and inflation
- analyze the government’s role in the economy and examine how it uses its fiscal policy and monetary policy to influence macroeconomic variables