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Introduction to Economics

Language: English

Course Description

The Winter Camp in Economics aims to raise an awareness about economics among high school students. In this context, the course has the goal to introduce students to the basic concepts of economics and to provide them with the necessary background to better understand daily economic phenomena.

The first module of the course focuses on microeconomics, which examines economics at the level of consumers, firms, and industries. In this section, the main factors underlying the consumption decisions of consumers and the production decisions of companies will be examined and how the market mechanism works will be introduced. At this point, by introducing the concepts of supply and demand, how prices are formed in markets and how companies and industries operate under different market structures will be studied.

The second module of the course will concentrate on macroeconomics that deals with the economy as a whole. In this section, issues including, but not limited to, national income, consumption, production, saving, unemployment, inflation, and economic growth will be discussed. Furthermore, fiscal and monetary policies to control fluctuations in the economy will be analyzed, and the macroeconomic effects of commercial and financial movements between countries will be seen.

Daniele Aglio Lecturer College of Administrative Sciences and Economics

Daniele Aglio is a Ph.D. student at the Economics Department of Koç University. He holds an M.Sc. degree in Economics from Bocconi University and Université Catholique de Louvain. His research interests lie in the areas of Applied Macroeconomics and Monetary Economics, and his doctoral research focuses on monetary policy and heterogeneity of firms, with theoretical extensions of New Keynesian models. During his academic studies, he worked at the OECD and at the European Central Bank. He currently manages a study center on economic and social issues in his hometown in Italy.

Course Objectives

The objectives of the course are for students to learn the following:
• learn about basic economic concepts,
• understand the decision-making mechanisms of consumers and producers and how markets work; and
• to be able to interpret macroeconomic indicators at a basic level

Course Outcomes

Students taking this course,
• will be able understand economic concepts and theories,
• will be able to develop creative and effective solutions at a basic level to solve economic problems,
• will be able to easily follow the economics sections of daily newspapers and periodicals.

Course Materials

The materials, articles, presentations and sample questions to be used in the course will be shared with the students.