ECON 210 - Principles of Economics
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Course Outline


ECON 210 Principles of Economics (Section 2)



Instructor:      Ayşegül ERUYGUR            



Lecture           Thursday           14.40-17.30  MM125


For registrations and related administrative problems, students should see the course assistants:

Duygu Deveci (FEAS- A 218) and Mehmet Ferda Kaya (FEAS- AZ09).


Course web page:


Students are strongly recommended to visit regularly the web page of the course so that they can

keep an eye on announcements and important dates


This introductory course is designed to provide students with an understanding of how economies function. The goal of this course is to furnish students with the basic tools and concepts for analyzing economic events and evaluating policies. There are two parts of the course: microeconomics and macroeconomics. The first part, microeconomics, is about the consumers' and individual firms' decisions, how they determine the market price, how they interact. The second part, macroeconomics, looks at the economy as a whole. Understanding the basic macroeconomic concepts such as determination of aggregate income, open economies, the role of government, operation of the monetary system, will be the goal of the second part.



The course is assessed by one multiple choice midterm exam (50%, microeconomics) and a multiple choice final examination (50%, non-cumulative, macroeconomics). Instructors will prepare their own exams for their own sections in accordance with their preferences regarding the weights of particular subjects covered during the lectures. Therefore, every student must attend the classes in the section to which she/he is registered and take the exams at the places designated according to the sections. Please make sure that you know the section that you registered and mention it correctly in the exams and problem sets. The places will be announced before the examinations on the web-page of the course. Following the midterm exam, the grades will be posted on the website. Exam attendance is required, so make-ups will be given only in cases of officially documented emergencies and only with advance notice and arrangement.


Course material, will mainly be the lecture notes and you will be responsible from the material lectured in the classroom.




Textbooks: While preparing the class notes we will make use of the following textbooks:


  • Case, K. E. and Fair, R.C. (2007), Principles of Economics 8th Edition. Pearson Prentice Hall, NJ.
  • Ekinci, Nazım K. (2001), Basic Economics, Literatür Yayıncılık: İstanbul. (This textbook is not available at the Bookstore or on the market but students can obtain a copy of the book at the photocopy-room on the entrance floor of the FEAS-A Building. The book is also available at the RESERVE (B) section of METU Library (The call number is: HB 171.5 E 37).
  • Mankiw, N. Gregory (2012), Principles of Economics 6th Edition. South-Western



Outline of Topics: Below is a general list of topics to be covered for the course.


Introduction to Microeconomics

Demand and Supply

The Market Mechanism

Government Price Setting and Taxes

Production and Cost

Household Behavior and Consumer Choice


Introduction to Macroeconomics and National Income Accounting

Growth, Productivity, Unemployment and Inflation

Aggregate Expenditure and Equilibrium Output

Open Economy

Money Supply, Money Demand and Monetary Policy


Course Policy:


  1. Collaboration during midterms and the final exam is strictly prohibited. If you are caught cheating in the exam, no excuse will be accepted and you will receive an FF from the course. In addition to the Teaching Assistants in your departments, a Teaching Assistant from the Department of Economics as well as your instructor will monitor the exams.
  2. Students are responsible for all material covered in lectures.
  3. Since many of the questions on the exams will come from the lecture material, attendance to the lectures is strongly recommended but not compulsory. Previous experience suggests that students who attended the classes regularly got better grades. Course attendance and participation will increase your grade in border cases; therefore we will ask you to sign an attendance sheet in each class.
  4. Students are responsible for the announcements made in class and posted on the course webpage. Cancellation of classes and other important info will be posted in METU online; you might also receive an email from your instructors or TA’s so check your emails regularly.
  5. Final exam grades will be announced after the announcement of official grades. Please do not ask for an increase in grade, we are not allowed to increase your grade subjectively in any case! (Note that we didn’t change any grades after the course grades are announced on subjective grounds last semester and we will not answer the emails asking for an increase this term.) Your grade is determined by your class performance. If you might be in repeat status or might not be able to graduate because of your grade in this course, we strongly recommend you to study the course accordingly, attend the classes regularly AND seek help from your professors and teaching assistants in advance by going to their office hours. We strongly urge you to seek help from us for any type of questions and/or problems about the course during the term NOT when the course grades are to be announced.
  6. Exams will be graded by optical reader. If you have any concern and want to see your exam paper please meet with your TA’s at the announced date.


Exam Dates:


Midterm Exam:         April 16, 2012 / Monday at 17:40-19:00


Final Exam:               May 31, 2012 / Thursday at 16:30

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