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Managerial Economics

PİRİ REİS UNIVERSITY

GRADUATE SCHOOL OF SCIENCE AND ENGINEEERING

Course Name : Managerial Economics

Degree: Graduate

 

Code

 

 

Year/Semester

 

Local Credits

 

ECTS Credits

 

Course Implementation, Hours/Week

Course

Tutorial

Laboratory

MTME 503

Fall/Spring

-

-

 

 

 

Department

Graduate School of Science and Engineering/Maritime Transportation and Management Engineering

Instructors

 

 

Contact Information

 

 

Office Hours

 

Web page

www.pirireis.edu.tr

Course Type

 Scientific Preparatory Course

Course Language

English

Course Prerequisites

  

Course Category by Content, %

Basic Sciences

Engineering Science

Engineering Design

Humanities

 

 

 

 

Course Description

Introduction, Utility and Demand, Profit Maximization, Market Structure, Markets with Asymmetric Information, Efficiency, Measuring GDP and Economic Growth, Employment and Inflation, Balance of Payments and Exchange Rates, Fiscal and Monetary policy, Current Economic Issues

 

Course Objectives

 

This course aims to cover the micro and macro aspects of the economic analysis from the perspective of the business units. The individual consumer behavior and the firm specific decision making processes are going to be discussed by focusing on the market structure that these two sides integrate in. Moreover central macroeconomic problems will be discussed in order to better apprehend the behavior of economic agents. Finally the course will cover central contemporary issues in economics all of which are crucial for participants of markets.

 

Course Learning Outcomes

 

By students who passed from MTME 503 will successfully

  1. Be able to determine the equilibrium price/quantity and be able to graph the market in functional form.
  2. Be able to define utility theory and its relationship with macroeconomic and economic growth models (theoretical insight)
  3. Be able to solve the profit maximization problem of the producer theory.
  4. Be able to discuss the sources of economic growth and development
  5. Be able to discuss the economic policy from fiscal and monetary point of views.

 

Instructional Methods and Techniques

The presentation of theory.

Tutorial Place

-

Co-term Condition

-

Textbook

INTERMEDIATE MICROECONOMIC, Hal R. Varian (3rd Edition, W. W. Norton & Company)

MACROECONOMICS, Olivier Blanchard (7th Edition, Pearson)

 

Other References

Additional reading will be handled out during the term

 

Homework & Projects

-

Laboratory Work

-

Computer Use

-

Other Activities

Pop up Quizes

                   

 

Assessment Criteria

Activities

Quantity

Effects on Grading, %

Attendance

 

 

Midterm

 

30

Quiz

 

20

Homework

 

 

Term Paper/Project

 

 

Laboratory Work

 

 

Practices

 

 

Tutorial

 

 

Seminar

 

 

Presentation

 

 

Field Study

 

 

Final Exam

 

50

TOTAL

 

 

Effects of Midterm on Grading, %

 

 

Effects of Final on Grading, %

 

 

TOTAL

 

 

 

ECTS/

WORKLOAD TABLE

Activities

Count

Hours

Total

Workload

Lecture

 

 

 

Midterm

 

 

 

Quiz

 

 

 

Homework

 

 

 

Term Paper/Project

 

 

 

Laboratory Work

 

 

 

Practices

 

 

 

Tutorial

 

 

 

Seminar

 

 

 

Presentation

 

 

 

Field Study

 

 

 

Final Exam

 

 

 

Total Workload

 

 

 

Total Workload/25

 

 

 

Course ECTS Credits

 

 

-

 

 

Week

 

Topics

Course Outcomes

1

1- Introduction: Economic Problem

I, II

2

2- Consumer Behavior: Utility and Demand

II, III

3

3- Profit Maximization and Competitive Supply

IV

4

4- Market Structure

V

5

5- Markets with Asymmetric Information-Externalities and Public Good

V

6

6- Efficiency and Equity & Market Interventions

V

7

7- Midterm

 

8

8- Pricing: Price Discrimination

VI

9

9- Industrial Development and Firm Strategy

VI, VII

10

10- Measuring GDP and Economic Growth

VIII

11

11- Using S-D Framework in Foreign Exchange

IX

12

12- International Trade and Economic Decisions in Competitive Markets

IX

13

13- Current Issues in Economics I

IX

14

14- Current Issues in Economics II

IX

 

 

 

 

Relationship between the Course and the Maritime Transportation and Management Engineering Curriculum

 

 

Program Outcomes

Level of Contribution

1

2

3

a

Developing and intensifying knowledge in the related program’s area, based upon the competency in the undergraduate level (sufficient knowledge) (knowledge).

X

 

 

b

Grasping the inter-disciplinary interaction related to one’s area (knowledge).

 

 

X

c

The ability to use the expert-level theoretical and practical knowledge acquired in the area (skill).

 

 

X

d

Interpreting and forming new types of knowledge by combining the knowledge from the area and the knowledge from various other disciplines (skill).

 

 

X

e

Solving the problems faced in the area by making use of the research methods (skill).

X

 

 

f

The ability to carry out a specialistic study related to one’s area independently. (Competence to work independently and take responsibility).

 

X

 

g

Developing new strategic approaches to solve the unforeseen and complex problems arising in the practical processes of one’s area and coming up with solutions while taking responsibility (Competence to work independently and take responsibility).

 

X

 

h

Fulfilling the leader role in the environments where solutions are sought for the problems related to the area (Competence to work independently and take responsibility).

 

X

 

Xi

Assessing the specialistic knowledge and skill gained through the study with a critical view and directing one’s own learning process (Learning Competence).

 

X

 

j

Systematically transferring the current developments in the area and one’s own work to other groups in and out of the area; in written, oral and visual forms (Communication and Social Competency).

 

X

 

k

Ability to see and develop social relationships and the norms directing these relationships with a critical look and the ability to take action to change these when necessary. (Communication and Social Competency).

X

 

 

l

Ability to use at least one foreign language at the level of European Language Portfolio B2 General Level and gain the ability to communicate in written and oral form, convey one’s own work in international platforms through written, oral and/or visual means. (Communication and Social Competency).

 

 

X

m

Using the computer software together with the information and communication technologies efficiently and according to the needs of the area (Communication and SocialCompetency).

X

 

 

n

Paying regard to social, scientific, cultural and ethical values during the collecting, interpreting, practicing and announcing processes of the area related data and the ability to teach these values to others (Area Specific Competency).

X

 

 

o

Developing strategy, policy and application plans concerning the subjects related to the area and the ability to evaluate the end results of these plans within the frame of quality processes (Area Specific Competency).

 

X

 

p

Using the knowledge and the skills for problem solving and/or application (which are processed within the area) in inter-disciplinary studies (Area Specific Competency).

 

X

 

 

         1: Small, 2: Partial, 3: Full