FACULTY OF FINE ARTS AND DESIGN

Department of Textile and Fashion Design

GEEC 203 | Course Introduction and Application Information

Course Name
Principles of Economics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
GEEC 203
Fall/Spring
3
0
3
6

Prerequisites
None
Course Language
English
Course Type
Service Course
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives This course provides basic knowledge of micro and macroeconomics. The overall purpose of this course is to introduce the student to the concept of a market economy and to investigate how scarce resources are allocated under a price mechanism.Microeconomics topics such as market economies, demand, supply, consumer theory, the theory of the firm, perfect competition; and basic topics in macroeconomics such as national income, employment, unemployment, inflation and economic growth are analyzed.
Learning Outcomes The students who succeeded in this course;
  • Will be able to express what economists mean by the concept of scarcity.
  • Will be able to define basic economic concepts such as opportunity cost, elasticity, economic profit and marginal analysis.
  • Will be able to identify the determinants of demand and supply.
  • Will be able to predict a change in market outcomes given a change in supply or demand.
  • Will be able to explain the concept of market equilibrium.
  • Will be able to analyze firm behavior under perfect competition.
  • Will be able to measure key macroeconomic variables.
  • Will be able to find out basic relationships between the variables such as national income, unemployment, budget deficit, money supply, interest rate, inflation rate, exchange rate, and trade deficit.
Course Description This course provides an introduction to basic models and concepts in microeconomics and macroeconomics. Basic topics in microeconomics analyzed in this course include an introduction to market economies, supply and demand, consumer theory, the theory of the firm, perfect competition. Basic topics in macroeconomics analyzed in this course include national income, employment, unemployment, inflation, and economic growth.

 



Course Category

Core Courses
Major Area Courses
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction: What is Economy -
2 Capitalist Revolution The Economy, The Core Project, Unit 1
3 Technology and Population The Economy, The Core Project, Unit 2
4 Scarcity, Work and Choice The Economy, The Core Project, Unit 3
5 The Firm: Owners, Managers and Employees The Economy, The Core Project, Unit 6
6 The Firm and Its Customers The Economy, The Core Project, Unit 7
7 Supply and Demand: Price Taking and Competitive Markets The Economy, The Core Project, Unit 8
8 Supply and Demand: Price Taking and Competitive Markets The Economy, The Core Project, Unit 8
9 Midterm
10 Economic Fluctuations and Unemployment The Economy, The Core Project, Unit 13
11 Unemployment and Fiscal Policy The Economy, The Core Project, Unit 14
12 Unemployment and Fiscal Policy The Economy, The Core Project, Unit 14
13 Inflation and Monetary Policy The Economy, The Core Project, Unit 15
14 Technological Progress, Unemployment and Living Standards In the Long-Run The Economy, The Core Project, Unit 16
15 Review of the Semester  
16 Review of the Semester  

 

Course Notes/Textbooks

The Economy, Econ Core Project http://www.core-econ.org A free open-source textbook with additional materials. Please get registestered on the book website.

Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
4
40
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
20
Final Exam
1
40
Total

Weighting of Semester Activities on the Final Grade
5
60
Weighting of End-of-Semester Activities on the Final Grade
1
40
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
15
2
30
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
4
12
48
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
12
12
Final Exam
1
30
30
    Total
168

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to develop and design a collection independently.

2

To be able to do maintain a design research individually or as a team.

3

To be able to develop entrepreneurship- and managerial skills for a future professional practice.

4

To be able to understand, interpret and apply theoretical knowledge in fashion and textile design.

5

To be able to analyze and integrate the particular local and regional needs and of their profession.

6

To be able to obtain a multidisciplinary point of view, follow and analyze the new issues, changes and trends in contemporary design and art in such a way that they can be integrated into design practice.

7

To be able to apply industrial requirements, knowledge of material & usage and know-how knowledge in the creation of high quality fashion products.

8

To be able to use digital information and communication technologies at a level that is adequate to the discipline of fashion and textile design.

9

To be able to develop an ongoing analytical and professional approach to academic and design research.

10

To be able to recognize the need and importance of a personal lifelong learning attitude towards their chosen area of interest.

11

To be able to collect data in the areas of fashion and textile design and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1).

12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout the human history to their field of expertise.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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