Master
2026/2027
Contemporary Economics
ID 1113811
Type:
Compulsory course (Politics. Economics. Philosophy)
Delivered by:
Department of Theoretical Economics
Where:
Faculty of Economic Sciences
When:
1 year, 2, 3 module
Open to:
students of one campus
Instructors:
Kemal Kivanc Akoz
Language:
English
ECTS credits:
6
Contact hours:
64
Course Syllabus
Abstract
This course introduces students to the basics of economic theory and policy. There are two modules for the course. In the first module, the focus will be on microeconomics. The topics include economic decision making, equilibrium and efficiency in various market structures, theory of strategic interactions (game theory), imperfect competition, and externalities. In the second module, the focus of the course will be on macroeconomics. The topics include national accounting, static and two-period general equilibrium models, labor markets, theory of growth, money and banking, political economy of macroeconomic policy, and international macroeconomics.
Learning Objectives
- Provide a comprehensive overview of economic theory
- Introduce basic economic models that are used for understanding and intervening real-life economic situations
- Enable students to evaluate and participate in the debates on economic policy
- Provide background for more advanced studies and research
Expected Learning Outcomes
- Ability to analyze of various socio-economic situations as an interaction of individual decisions and institutional constraints
- Familiarity with the vocabulary of economics
- By the end of this section, students will be able to solve for equilibrium price and output under monopoly, Cournot duopoly, and perfect competition using linear demand and cost functions. They will also be able to compare and contrast the welfare implications—specifically consumer surplus, producer surplus, and deadweight loss—across these three market structures.
Course Contents
- Modern Economic Theory
- Game Theory
- Market Analysis
- Static General Equilibrium Theory
- Growth Theory
Interim Assessment
- 2026/2027 3rd module0.3 * Research & Presentation + 0.3 * Final Exam + 0.1 * Attendance & Participation + 0.3 * Midterm
Bibliography
Recommended Core Bibliography
- Dawsey, A. E. (2014). ECNS 301.01: Intermediate Microeconomics with Calculus.
- Intermediate microeconomics and its application, Nicholson W., 2000
- Macroeconomics, Mankiw, N. G., 2013
Recommended Additional Bibliography
- Bowles, S., & Polanía-Reyes, S. (2012). Economic Incentives and Social Preferences: Substitutes or Complements? Journal of Economic Literature, 50(2), 368–425. https://doi.org/10.1257/jel.50.2.368