TÜRKÇE
ENGLISH
Information
| Unit | FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES |
| ECONOMICS PR. (ENGLISH) | |
| Code | ECOZ310 |
| Name | Artificial Intelligence and Economics |
| Term | 2026-2027 Academic Year |
| Semester | 6. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 5 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | İngilizce |
| Level | Belirsiz |
| Type | Normal |
| Label | E Elective |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. CENGİZ AYTUN |
| Course Instructor |
The current term course schedule has not been prepared yet.
|
Course Goal / Objective
The aim is to examine the effects of artificial intelligence (AI) on the economic system as a "General-Purpose Technology." The course aims to enable students to analyze the role of AI in labor markets, productivity, growth, market structure, and economic inequalities within the framework of economic theories, and to understand the ethical and regulatory challenges posed by this technology.
Course Content
The Historical Development of Technology and Automation in the Economy, the Definition and Economic Classification of Artificial Intelligence, AI and the Productivity Paradox, Substitution and Complementarity Effects in the Labor Market, Algorithmic Pricing and Competition Policy, the Platform Economy, AI and Financial Markets, Big Data and Macroeconomic Forecasting, Digital Divide and Global Inequality, AI Ethics and the Economics of Regulation.
Course Precondition
There are no prerequisites for this course. It is recommended that students have completed Microeconomics and Macroeconomics (I-II).
Resources
Agrawal, A., Gans, J., & Goldfarb, A. (2018). Prediction Machines: The Simple Economics of Artificial Intelligence. Harvard Business Review Press.
Notes
Acemoglu, D., & Restrepo, P. (2019). Automation and New Tasks: How Technology Displaces and Reinstates Labor. Journal of Economic Perspectives.
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Defines artificial intelligence as a factor of production and explains how it differs from traditional automation. |
| LO02 | Analyzes the potential impacts of AI on productivity gains and economic growth. |
| LO03 | Discusses the effects of AI technologies on labor demand, wages, and the transformation of occupations. |
| LO04 | Evaluates the role of algorithms in market equilibrium, pricing strategies, and competition. |
| LO05 | Explains the risks and opportunities presented by AI applications in the finance and banking sector. |
| LO06 | Analyzes the economic costs of ethical issues arising from the use of AI, such as data privacy and algorithmic bias. |
| LO07 | Understands the need for AI-driven changes in public policies (taxation, social security). |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the importance of demand and supply in economy sciece and the well-running conditions of the market economy | |
| PLO02 | Bilgi - Kuramsal, Olgusal | Define the role of pricing within the event advantage of the market economy | |
| PLO03 | Bilgi - Kuramsal, Olgusal | Define the role of the state in economy, money and financial policies, the central bank and the structure of the market | |
| PLO04 | Bilgi - Kuramsal, Olgusal | Perceive the costs and benefits arising from the global economy | |
| PLO05 | Bilgi - Kuramsal, Olgusal | Produce nymerical and policy options when confronted with problems | |
| PLO06 | Bilgi - Kuramsal, Olgusal | Use quantitative and qualitative techniques of model building, decoding and interpretation | 3 |
| PLO07 | Bilgi - Kuramsal, Olgusal | Use the theory of economics in the analysis of economic events | 4 |
| PLO08 | Bilgi - Kuramsal, Olgusal | Use computer programs, do synthesis and present prepared data efficiently | 5 |
| PLO09 | Bilgi - Kuramsal, Olgusal | Apply the methods of economic analysis. | 3 |
| PLO10 | Bilgi - Kuramsal, Olgusal | Analyze at conceptual level and aquire abiliy in comparing, interpreting, evaluating and synthesizing in order to develop solutions to problems | |
| PLO11 | Bilgi - Kuramsal, Olgusal | Take responsibility individually and/or in a team, take leadership and work effectively | |
| PLO12 | Beceriler - Bilişsel, Uygulamalı | Follow innovative developments in the field being aware of the necessity of lifelong learning and improving him-/herself | |
| PLO13 | Beceriler - Bilişsel, Uygulamalı | Use of different sources about an unfamiliar field within academic principles, synthesize gained data and present effectively | |
| PLO14 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Use Turkish and at least one foreign language in accordance with the requirements of academic and work life | |
| PLO15 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Understand and interpret related peoples´ feelings, thoughts and behaviours correctly; express him-/herself accurately in written and oral language | |
| PLO16 | Yetkinlikler - Öğrenme Yetkinliği | Question traditional approaches, practices and methods. | |
| PLO17 | Yetkinlikler - Öğrenme Yetkinliği | Recognize and apply social, scientific and professional ethical values. | 5 |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Technological Revolutions in Economic History | Class notes | Öğretim Yöntemleri: Anlatım, Tartışma |
| 2 | Artificial Intelligence: Defining It as the Economy of Prediction | Class notes | Öğretim Yöntemleri: Anlatım, Tartışma |
| 3 | AI and Productivity: Why Aren’t We Seeing a Productivity Boom? | Reading an article | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 4 | Labor Market I: Automation and the Substitution Effect | Reading the textbook | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 5 | Labor Market II: New Roles and Complementarity | Case studies | Öğretim Yöntemleri: Anlatım, Örnek Olay |
| 6 | Changes in Skill Demand and Wage Inequality | Analysis of the relevant data | Öğretim Yöntemleri: Anlatım |
| 7 | Algorithmic Pricing and Collusion (Collusive Pricing) | Case study | Öğretim Yöntemleri: Anlatım, Örnek Olay |
| 8 | Mid-Term Exam | Ölçme Yöntemleri: Yazılı Sınav |
|
| 9 | Digital Platforms and the Data Economy | Platform reviews | Öğretim Yöntemleri: Anlatım, Örnek Olay |
| 10 | Artificial Intelligence in Financial Technology (FinTech) | Reading Financial Reports | Öğretim Yöntemleri: Anlatım, Alıştırma ve Uygulama |
| 11 | Big Data and the Design of Economic Policy | Reading a chapter from a book | Öğretim Yöntemleri: Anlatım |
| 12 | Algorithmic Bias and Economic Discrimination | Reading a chapter from a book | Öğretim Yöntemleri: Anlatım, Tartışma |
| 13 | Debates on the Robot Tax and Universal Basic Income | Reading the policy document | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 14 | AI Regulation: The EU AI Act and Its Economic Impacts | Regulatory review | Öğretim Yöntemleri: Anlatım, Tartışma |
| 15 | General Overview and Future Projections | Term evaluation | Öğretim Yöntemleri: Anlatım, Tartışma |
| 16 | Term Exams | Ölçme Yöntemleri: Yazılı Sınav |
|
| 17 | Term Exams | Ölçme Yöntemleri: Yazılı Sınav |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 3 | 42 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 4 | 56 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 10 | 10 |
| Final Exam | 1 | 10 | 10 |
| Total Workload (Hour) | 118 | ||
| Total Workload / 25 (h) | 4,72 | ||
| ECTS | 5 ECTS | ||