IE 2003 - Economy

The aim of this course is to provide Industrial Engineering students with fundamental economic concepts and economic reasoning skills and to enable them to understand the decision-making processes of individuals, firms, and markets. The course aims to help students analyze supply and demand, costs, production, market structures, and basic macroeconomic indicators and evaluate the economic dimensions of engineering and business decisions.

Fundamental concepts of economics; scarcity, choice, and opportunity cost; economic systems; supply, demand, and market equilibrium; elasticity; fundamentals of consumer and producer behavior; production and costs; perfect competition, monopoly, monopolistic competition, and oligopoly; economic efficiency and market failures; basic macroeconomic concepts; gross domestic product and economic growth; unemployment and inflation; fundamentals of money and banking; introduction to fiscal and monetary policy.

None.

N. Gregory Mankiw, Principles of Economics, Cengage.Paul Krugman & Robin Wells, Economics, Worth Publishers.Karl E. Case, Ray C. Fair & Sharon E. Oster, Principles of Economics, Pearson.

Students are required to comply with the principles of academic integrity in all examinations, assignments, projects, and other academic work. Cheating, plagiarism, fabrication of data or sources, submitting another person's work as one's own, and any form of unauthorized assistance constitute violations of academic integrity. Generative artificial intelligence (GenAI) tools may only be used for purposes permitted within the course. Students are responsible for verifying the accuracy of AI-generated content, and the use of such tools must comply with applicable academic integrity and ethical guidelines.