İktisada Giriş Syllabus 101 ECON 10 1 INTRODUCTION TO ECONOMICS Sections B, C, D, E Fall 2007 Office Hours: Tuesday 13:00-15:00, Wednesday 11:00-12:00 Instructor: Ahmet Ç al ş kan Office: FA- 305 Office Phone: 212 866 3300 - 50 21 e-mail: ahmetcal iskan@fatih.edu.tr Homepage: www.fatih.edu.tr/~ ahmetcaliskan Course Objective and Description: This course introduces basic tools and concepts of economic theory. The objective of this course is to develop the ability in students to understand and use the fundamental tools of microeconomic theory . Using these tools, they can analyze and explain market phenomena. We will study how markets solve the allocation problem, demand and consumer behavior, supply and firm behavior, costs of production and different market types. Required Textbook: Economics, by David Begg, S. Fischer, and R. Dornbusch, 7th edition, McGraw-Hill, 2003. Course Requirements: Students are required to attend classes regularly and participate in class discus sions . Class participation, measured by attendance and participation in discussions, will be a part of your grade directly. Students are expected to obtain a copy of the textbook . Grades in the course will be based upon two midterm exam s ( 2 3 % each ), a fi nal exam (3 5 %), 3 random quizzes ( 3 % each) and class attendance and participation (10%). The random quizzes will be done in classtime an d students will not know when they will be done. Cheating will not be tolerated under any circumstances . Cheating inclu des (but is not limited to): bringing unauthorized materials to the tests; looking at, copying from, or otherwise colludi ng with anyone during the tests . Anyone engaging in these activities will automatically receive an “ F F ” grade in the course. Please bri n g a pencil, an eraser, a dictionary (if you need one) , and a calculator (if you need one) to each exam because I will NOT allow any exchange of these items during the exam. IMPORTANT RULES DURING CLASS : Once the class starts, nobody is allowed to leave the class room except for medical 1. situation (bleeding nose, etc . ). If you know you need to go out b efore the end of the class, ask me for permission before the class starts. If you are late to the class, quietly take a seat. Do not talk to anybody. 2. Please turn cell phones off when you are in class. 3. Please do NOT sign the attendance sheet for somebody else. 4. If you have a question during the class, please ask me, do not talk to each other. Never 5. feel ashamed of asking questions. Your participation in class w ill have a positive effect on your grade. 1Office hours are open to all students, for discussion of any topic. If you are not clear on something, I recommend that you come and see me right away. Do NOT wait until the end of semester. You may also send an email to ahmetcaliskan@fatih.edu.tr Make up Policy: Make-up exams will be given only for excuses that are accepted by the university rules . Contact Dean ’ s Office (Dekanlik) to learn which excuses are accepted by the university. If you miss an y exam for a ny reason, you must take the following steps: (1) notify me within 48 hours of exam. The easiest way to notify is to e-mail me at ahmetcaliskan@fatih.edu.tr (2) provide me a written valid proof of excuse w ithin one week of exam. İ f you do not have a valid proof of excuse , you will get a zero score for the missed exam. Tentative Schedule Week 1: Introduction to Economics Definition. Examples of economic issues. Scarcity, tradeoffs and resource allocation. Production possibilities frontier. Role of markets and prices in resource allocation. Types of economies. Positive and normative economics. Microeconomics and macroeconomics. Week 2: Basics of Supply and Demand Reading diagrams. Demand schedule and s upply schedule. Week 3: Applications of Supply and Demand Price Controls and Price Elasticity of Demand Week 4: Markets and Welfare Week 5 : Marginal Utility and Consumer Behavior Week 6: Midterm 1 : November 2 , Fri day at 2pm (Tentative) Week 7 &8 : Theory of Consumer ’ s Choice (Behavior) Week 9 &10 : Firm ’ s Choice ( Behavior ) Costs of the Firm , Short-run and Long-run Production Decision Week 11: Midterm 2 : December 7 , Frid ay at 2pm (Tentative) Week 12: Perfectly Competitive Markets Week 13: Monopoly Week 14: Oligopoly and Monopolistic Competition Week 15: Market Failure and Externalities FINAL 2