Principles of Economics

The Summer 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.