Lesson Detail
| Code | Name | Type | Year | Semester | ECTS |
| 704002092016 | Micro Economics | Zorunlu | 2 | 3 | 3.00 |
Objectives of the Course
The purpose of this course is to provide information to students about principles, concepts and limits of microeconomics. Consumer and demand theory, firm behavior, production and cost theory, perfect competition markets, imperfect competition and welfare economics will be discussed. Students will learn analytical tools and can analyze many economic problems about effective and efficient use of resources by taking this course.
Name of Lecturer(s)
Dr. Öğretim Üyesi Neşe ALGAN ÇAPRAZ
Learning Outcomes
| 1 | Makes the analysis of consumer and producer price mechanism in market equilibrium condition. |
| 2 | Explains the equilibrium conditions in various markets starting from the formation of the supply and demand function. |
| 3 | Makes the price analysis that shows how the balance will emerge starting from the supply and demand functions in the resource market. |
| 4 | Makes the price analysis that indicates in what way producers and consumers equilibrate for each product. |
| 5 | Identifies the types of markets and explains the formation of prices in these markets. |
| 6 | Explains the importance of opportunity cost, economic profit, accounting profit and production costs in terms of business management. |
| 7 | Explains the impact of externalities on market prices. |
| 8 | Analyzes price formation in collective goods. |
Mode of Delivery
Dr. Öğretim Üyesi Neşe ALGAN ÇAPRAZ
Prerequisites and co-requisities
None
Recommended Optional Programme Components
None
Course Contents
Definition, methods and purpose of microeconomics, consumer behavior and demand theory, indifference curve analysis, the concept and types of flexibility, production and cost theory, isoquant analysis, demand, supply and market equilibrium, market types and firm behavior theory, short and long-run equilibrium in perfect and imperfect markets, factor markets, general equilibrium.
Weekly Detailed Course Contents
| 1 | Definition of Economics and Basic Concepts |
| 2 | Utility Function, Utility Maximization, Consumer Equilibrium |
| 3 | The Creation of Demand Function, Price and Income Elasticity of Demand |
| 4 | Production Function, Producer Equilibrium, The Law of Diminishing Marginal Returns |
| 5 | Cost functions, firm's short-run equilibrium |
| 6 | Returns to scale, the creation of supply function |
| 7 | Midterm Exam Week |
| 8 | Midterm Exam Week |
| 9 | Short and long-term equilibrium in perfect competition, the marginal revenue and marginal cost approaches. |
| 10 | Market comparison in monopolistic competition and oligopoly markets. Movements in short-term market equilibrium, theoretical framework in the formation of market prices. |
| 11 | Short and long term equilibrium in monopolistic market, long-term equilibrium comparison of perfect competition and imperfect competition, game theory. |
| 12 | Creation of demand and supply functions in the labor market |
| 13 | Edgeworth box, Pareto optimality, production possibilities curve and the overall equilibrium |
| 14 | Consumer’s equilibrium and firms’ investment decisions between the periods, the methods used in making investment decisions. |
| 15 | Final Exam Week |
| 16 | Final Exam Week |
Recommended or Required Reading
Targan Ünal, Çiğoem Börke Tunalı, Microeconomics, Der Publishing, 2011.Hal R. Varian, Intermediate Microeconomics, W.W. Norton & Company, 2009.Zeynel Dinler, Microeconomics, Ekin, 2009.Tümay Ertek, Microeconomic Theory, Beta, 2009.Erdal Ünsal, Microeconomics, İmaj Publishing, 2007.İlker Parasız, Problems and Solutions in Microeconomics, Ezgi Bookstore, 2002.
Assessment Methods and Criteria
| Yarıyıl (Yıl) İçi Etkinlikleri | 40 |
| Yarıyıl (Yıl) Sonu Etkinlikleri | 60 |
| 100 |
Language of Instruction
Turkish
Work Placement(s)
None
Workload Calculation
| Activities | Count | WORKLOAD (hours) | TOTAL WORKLOAD (hours) |
|---|---|---|---|
| Ara Sınav | 1 | 1 | 1 |
| Final Sınav | 1 | 1 | 1 |
| 13 | 2 | 26 | |
| 13 | 2 | 26 | |
| Ara Sınav İçin Bireysel Çalışma | 1 | 16 | 16 |
| Final Sınavı içiin Bireysel Çalışma | 1 | 20 | 20 |
| 90 |