| Course Name |
Modern World Economy
|
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
|
GEEC 204
|
Fall/Spring
|
3
|
0
|
3
|
6
|
| Prerequisites |
None
|
|||||
| Course Language |
English
|
|||||
| Course Type |
Service Course
|
|||||
| Course Level |
First Cycle
|
|||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | - | |||||
| National Occupation Classification | - | |||||
| Course Coordinator | ||||||
| Course Lecturer(s) | ||||||
| Assistant(s) | ||||||
| Course Objectives | The objective of this course is to offer a basic analytical approach to the students, who do not necessarily have a prior theoretical background in this area, so that they can understand and follow the economic developments both in the World and Turkey. In that context, students will learn the essential economic concepts and be able to see how and where these concepts are utilized. Meanwhile, the students will be exposed to the economic approaches centered on those concepts and find out how these approaches deal with the current economic issues and globalization process. Another objective of this course is to understand the main strategies developed by the decision makers and policy makers at various levels facing global economic problem |
| Learning Outcomes |
The students who succeeded in this course;
|
| Course Description | |
| Related Sustainable Development Goals |
|
|
Core Courses | |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Management Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Related Preparation |
| 1 | Introduction and Essential Economic Concepts | Introduction and Basic Economic Concepts Investopedia. (2001). Economics Basics. Investopedia. https://www.investopedia.com/articles/01/082201.as |
| 2 | Economic Concepts | Economic Concepts OpenStax. (2023). Principles of Economics, 3e: Introduction (Chapter 1). OpenStax. https://openstax.org/books/principles-economics-3e/pages/1-introduction |
| 3 | Economic Concepts | Economic Concepts World Economic Forum. (2021). What is GDP and why does it matter? World Economic Forum. https://www.weforum.org/agenda/2021/09/what-is-gdp-and-why-it-matters |
| 4 | Globalization | Jakubik, A., & Van Heuvelen, E. (2024). Back to Basics: Globalization Today. International Monetary Fund. https://www.imf.org/en/Publications/fandd/issues/2024/06/B2B-Globalization-Today-Adam-Jakubik-and-Elizabeth-Van-Heuvelen |
| 5 | Globalization and Institutions | Brookings Institution. (2022). How global institutions shape the world economy. Brookings. https://www.brookings.edu/articles/how-international-institutions-shape-global-economy |
| 6 | Economics Systems | Acemoglu, D., & Johnson, S. (2021). Capitalism, Socialism, and Democracy in the 21st Century. Project Syndicate. https://www.project-syndicate.org/commentary/capitalism-socialism-and-democracy-in-the-21st-century-by-daron-acemoglu-and-simon-johnson-2021-06 |
| 7 | Current Finance Structure in the World | World Economic Forum. (2025). 5 transformational trends shaping global finance. World Economic Forum. https://www.weforum.org/stories/2025/01/5-transformational-trends-shaping-global-finance |
| 8 | Emerging Markets and Core Countries | Emerging Markets: Growth, Opportunities, Challenges. Investopedia. https://www.investopedia.com/terms/e/emergingmarketeconomy.asp |
| 9 | Midterm Exam week | Due to midterm week, there will be no class in the 9th week. |
| 10 | Economics of Turkey | Öniş, Z. (2021). Turkey and the Global Economy: Navigating New Realities. Carnegie Europe. https://carnegieeurope.eu/2021/03/23/turkey-and-global-economy-navigating-new-realities-pub-84115 |
| 11 | Economics of Turkey | OECD. (2021). Turkey’s Role in Global Value Chains. OECD. https://www.oecd.org/industry/ind/global-value-chains.htm |
| 12 | Business Models | Harvard Business Review. (2019). How globalization is changing business models. Harvard Business Review. https://hbr.org/2019/05/how-globalization-is-changing-business |
| 13 | Business Models | World Bank. (2022). Business Models in the New Global Economy. World Bank Blogs. https://blogs.worldbank.org/psd/business-models-new-global-economy |
| 14 | Project | |
| 15 | Project | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | |
| Suggested Readings/Materials |
| Semester Activities | Number | Weigthing |
| Participation | ||
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments |
1
|
30
|
| Presentation / Jury |
1
|
25
|
| Project | ||
| Seminar / Workshop | ||
| Oral Exams | ||
| Midterm | ||
| Final Exam |
1
|
45
|
| Total |
| Weighting of Semester Activities on the Final Grade |
2
|
55
|
| Weighting of End-of-Semester Activities on the Final Grade |
1
|
45
|
| Total |
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
3
|
48
|
| Laboratory / Application Hours |
16
|
0
|
|
| Study Hours Out of Class |
16
|
2
|
32
|
| Field Work |
0
|
||
| Quizzes / Studio Critiques |
0
|
||
| Portfolio |
0
|
||
| Homework / Assignments |
1
|
30
|
30
|
| Presentation / Jury |
1
|
25
|
25
|
| Project |
0
|
||
| Seminar / Workshop |
0
|
||
| Oral Exam |
0
|
||
| Midterms |
0
|
||
| Final Exam |
1
|
45
|
45
|
| Total |
180
|
|
#
|
Program Competencies/Outcomes |
* Contribution Level
|
|||||
|
1
|
2
|
3
|
4
|
5
|
|||
| 1 |
Engineering Knowledge: Knowledge of mathematics, science, basic engineering, computer computation, and topics specific to related engineering disciplines; the ability to use this knowledge in solving complex engineering problems |
-
|
-
|
-
|
-
|
-
|
|
| 2 |
Problem Analysis: The ability to define, formulate, and analyze complex engineering problems by using fundamental science, mathematics, and engineering knowledge, while considering the relevant UN Sustainable Development Goals (SDGs) related to the problem. |
-
|
-
|
-
|
-
|
-
|
|
| 3 |
Engineering Design: The ability to design creative solutions to complex engineering problems; the ability to design complex systems, processes, devices, or products that meet present and future requirements, considering realistic constraints and conditions. |
-
|
-
|
-
|
-
|
-
|
|
| 4 |
Use of Techniques and Tools: The ability to select and use appropriate techniques, resources, and modern engineering and information technology tools, including prediction and modeling, for the analysis and solution of complex engineering problems, while being aware of their limitations |
-
|
-
|
-
|
-
|
-
|
|
| 5 |
Research and Investigation: The ability to use research methods, including literature review, designing experiments, conducting experiments, collecting data, analyzing and interpreting results, for the investigation of complex engineering problems. |
-
|
-
|
-
|
-
|
-
|
|
| 6 |
Global Impact of Engineering Practices: Knowledge of the impacts of engineering practices on society, health and safety, the economy, sustainability, and the environment within the scope of the UN Sustainable Development Goals (SDGs); awareness of the legal consequences of engineering solutions |
-
|
-
|
-
|
-
|
-
|
|
| 7 |
Ethical Behavior: Acting in accordance with the principles of the engineering profession; knowledge of ethical responsibility; awareness of acting impartially and inclusively, without discrimination in any matter. (FENG101) |
-
|
-
|
-
|
-
|
-
|
|
| 8 |
Individual and Team Work: The ability to work effectively as an individual and as a member or leader of both intra-disciplinary and interdisciplinary teams (whether face-to-face, remote, or hybrid). |
-
|
-
|
-
|
-
|
-
|
|
| 9 |
Verbal and Written Communication: Taking into account the various differences of the target audience (such as education, language, profession), particularly in technical matters. |
-
|
-
|
-
|
-
|
-
|
|
| 10 |
Project Management: Knowledge of business practices such as project management and economic feasibility analysis; awareness of entrepreneurship and innovation. |
-
|
-
|
-
|
-
|
-
|
|
| 11 |
Lifelong Learning: The ability to learn independently and continuously, adapt to new and emerging technologies, and think critically about technological changes. |
-
|
X
|
-
|
-
|
-
|
|
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
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