Common  Course (EKO201E Economics)

Course Description

This course examines the basic concepts in economics. The first part covers microeconomics. In this part, we will study of how firms decide on production and households decide on consumption of goods and services. The second part covers macroeconomics. In this part, we will study the economy as a whole. Topics include national income, unemployment, inflation, and economic growth.


Syllabus

       Download link for EKO201E Syllabus (2022 Fall)


Announcements

  • All necessary announcements (exam dates, exam classes, exam grades) will be made on our course web page below. Please follow it regularly to remain informed and updated:
           
    econ.itu.edu.tr/haberler

Course Materials


Exams (Face-to-face)

  • Midterm Exam 40%
  • Final Exam 60%
Please note that we do not have a predetermined grading system, such as a catalogue or strictly a curve. In each term, grading is exclusively finalised based on the unique distribution of grades.
Calculator and dictionary are not allowed in the exam.
Wrong answers do not eliminate right answers.
Students can find more detailed information about exams by downloading syllabus above.

Attendance

Your online participation is compulsory and highly appreciated. You must connect to the courses from your İTÜ e-mail addresses so that your participation is recorded at Zoom automatically.
Istanbul Technical University attendance policy requires each student to attend a minimum of 70% of class sessions. It is student's own responsibility to keep track of it.


Contact

If you experience any problem about the course, you should let us know at the email: eko201e@itu.edu.tr
Every term, more than 1500 students take the course, so be patient while we return back to your emails. We will be doing our best to resolve your queries in shortest time possible.


Course Outline

1. Introduction

Chapter  1: Ten principles of economics
Chapter  2: Thinking like an economist
Chapter  3: Interdependence and the gains from trade

2. How markets work
Chapter  4: The market forces of supply and demand
Chapter  5: Elasticity and its applications
Chapter  6: Supply, demand, and government policies

3. Markets and welfare
Chapter  7: Consumers, producers, and the efficiency of markets
Chapter  8: Application: the costs of taxation

4. The economics of the public sector
Chapter 10: Externalities
 
5. Firm behavior, and the organization of industry
Chapter 13: The costs of production
Chapter 14: Firms in competitive markets
Chapter 15: Monopoly
Chapter 16: Monopolistic competition
Chapter 17: Oligopoly

6. The data of macroeconomics
Chapter 23: Measuring a nation's income
Chapter 24: Measuring the cost of living

7. The real economy in the long run
Chapter 25: Production and growth
Chapter 26: Saving, investment, and the financial system
Chapter 28: Unemployment

8. Money and prices in the long run
Chapter 29: The monetary system
Chapter 30: Money growth and inflation

9. The macroeconomics of open economies
Chapter 31: Open-economy macroeconomics: basic concepts

We wish all our students great success!

Department of Economics