Basic Economics

This book grew out of notes prepared for a non-semester non-departmental course in economics at METU. The aim is to convey the basic mechanism of how the economy works. This book is intended as a text for a one-semester course in economics. But it can also be used as a supplemantary text in other economics courses. It can serve a useful purpose in introducing students to alternative conceptualization of economic problems and to alternative approaches to deal with them. In particular, I hope that it will be helpful in broadening the scope of teaching introductory macroeconomics in Turkey