Course Detail
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| INTERMEDIATE MICROECONOMICS | ECO2152760 | Fall Semester | 3+0 | 3 | 6 |
| Course Program | Pazartesi 13:30-14:15 Pazartesi 14:30-15:15 Pazartesi 15:30-16:15 Perşembe 14:30-15:15 Perşembe 15:30-16:15 Perşembe 16:30-17:15 |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | English |
| Course Level | First Cycle (Bachelor's Degree) |
| Course Type | Required |
| Course Coordinator | Assist.Prof. Ayşe Saime DÖNER |
| Name of Lecturer(s) | Assist.Prof. Ayşe Saime DÖNER |
| Assistant(s) | |
| Aim | Acquisition of the basic knowledge and skills of microeconomic analysis necessary for individuals to address economic questions they may encounter and to make economic decisions in their best interest as consumers or as managers |
| Course Content | This course contains; The basic ideas of the microeconomic theory, Basic supply-and-demand analysis ,Consumer behavior,Individual and market demand,Production, production functions,Cost of production,Profit maximization,Government policies in competitive markets,Government policies in competitive markets,Monopoly,Pricing with monopoly power,Monopolistic competition, Oligopoly ,Game theory and strategic decisions,Markets for factor inputs,General equilibrium. |
| Dersin Öğrenme Kazanımları | Teaching Methods | Assessment Methods |
| 1. Will be able to explain the ideas that form the foundations of the microeconomic theory and conduct basic supply-and-demand analysis. | 16, 6, 9 | A |
| 1.1 Explains the concept of markets and the function of prices. | 16, 6, 9 | A |
| 1.2 Explains the importance of microeconomics. | ||
| 1.3 Explains the supply-and-demand analysis. | ||
| 1.4 Defines elasticity and mentions its various types. | ||
| 2. Will be able to model consumer behavior. | 16, 6, 9 | A |
| 2.1 Explains the concept of consumer preference. | ||
| 2.2 Defines the indifference curve. | ||
| 2.3 Defines and explains the budget constraint. | ||
| 2.4 Explains the concept of consumer choice. | ||
| 2.5 Explains the concept of revealed preference. | ||
| 3. Will be able to analyze individual demand and market demand. | 16, 6, 9 | A |
| 3.1 Lists the factors impacting individual demand. | ||
| 3.2 Defines the income effect and the substitution effect. | ||
| 3.3 Explains the formation of the market demand. | ||
| 3.4 Defines the concept of network externality. | ||
| 4. Will be able to model production, and analyze cost of production from various aspects. | 16, 6, 9 | A |
| 4.1 Touches upon the nature of firms. | ||
| 4.2 Defines the production function. | ||
| 4.3 Explains various ways of measuring production. | ||
| 4.4 Explains the returns to scale. | ||
| 4.5 Defines the short-run cost of production and the short-run cost curve. | ||
| 4.6 Defines the long-run cost of production and the long-run cost curve. | ||
| 5. Will be able to model and analyze profit maximization policies in competitive markets and investigate the impact of government policies in competitive markets. | 16, 6, 9 | A |
| 5.1 Models profit maximization. | ||
| 5.2 Analyzes the short-run production decision and the short-run firm supply. | ||
| 5.3 Analyzes the long-run production decision and the long-run firm supply. | ||
| 5.4 Analyzes the long-run supply of the industry. | ||
| 5.5 Analyzes the impacts of price floors and price ceilings in competitive markets. | ||
| 5.6 Analyzes the impacts of import tariffs and quotas in competitive markets. | ||
| 6. Will be able to model monopoly power, analyze its social costs, and product pricing with market power. | 16, 6, 9 | A |
| 6.1 Defines monopoly power. | ||
| 6.2 Explains the sources of monopoly power. | ||
| 6.3 Analyzes the social costs of monopoly power. | ||
| 6.4 Examines the limiting of monopoly power. | ||
| 6.5 Examines product pricing with monopoly power. | ||
| 7. Will be able to analyze monopolistic competition and oligopoly. | 16, 6, 9 | A |
| 7.1 Defines monopolistic competition. | ||
| 7.2 Analyzes monopolistic competition. | ||
| 7.3 Analyzes oligopoly. | ||
| 8. Will be able to acquire the skills to make various strategic decisions using the building blocks of the game theory. | 16, 6, 9 | A |
| 8.1 Defines the building blocks of the game theory. | ||
| 8.2 Explains how the game theory can be used in strategic decision making. | ||
| 9. Will be able to analyze the markets for factor inputs. | 16, 6, 9 | A |
| 9.1 Analyzes the competitive factor input markets. | ||
| 9.2 Analyzes the factor input markets with monopoly power. | ||
| 10. Will be able to conduct basic general equilibrium analysis. | 16, 6, 9 | A |
| 10.1 Defines the concept of general equilibrium. | ||
| 10.2 Examines efficiency in exchange. | ||
| 10.3 Examines efficiency in production. | ||
| 10.4 Analyzes the gains from free trade. |
| Teaching Methods: | 16: Question - Answer Technique, 6: Experiential Learning, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | The basic ideas of the microeconomic theory, Basic supply-and-demand analysis | |
| 2 | Consumer behavior | |
| 3 | Individual and market demand | |
| 4 | Production, production functions | |
| 5 | Cost of production | |
| 6 | Profit maximization | |
| 7 | Government policies in competitive markets | |
| 8 | Government policies in competitive markets | |
| 9 | Monopoly | |
| 10 | Pricing with monopoly power | |
| 11 | Monopolistic competition, Oligopoly | |
| 12 | Game theory and strategic decisions | |
| 13 | Markets for factor inputs | |
| 14 | General equilibrium |
| Resources |
| [1] Microeconomics, 2018, 9. Edisyon, Robert Pindyck, Daniel Rubinfeld, Pearson [2] Pearson MyLab Economics [3] Intermediate Microeconomics: A Modern Approach, Hal R. Varian |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | (S)he describes theoretical knowledge in economics and finance. | X | |||||
| 2 | (S)he explains mathematical and statistical methods needed for economics and finance. | X | |||||
| 3 | (S)he uses at least one computer program utilized for economic and financial analyses (SPSS, Eviews, STATA, R ve MATLAB). | ||||||
| 4 | (S)he has the foreign language proficiency necessary for economics and finance. | ||||||
| 5 | (S)he develops projects in the field and handles team work. | ||||||
| 6 | (S)he develops (her) his awareness of lifetime learning, follows the developments in (her) his field and adopts a critical approach. | X | |||||
| 7 | (S)he uses theoretical and practical knowledge on economics and finance. | X | |||||
| 8 | (S)he delivers (her) his opinions by making effective use of modern technologies and of at least one foreign language at a minimum level of level C1. | ||||||
| 9 | (S)he adopts and uses organizational, corporate and social ethical values. | ||||||
| 10 | (S)he adopts principles of social responsibility and acts whenever needed in light of social service sensitivity. | ||||||
| 11 | (S)he analyzes and uses basic knowledge and data regarding different disciplines to conduct inter-disciplinary studies. | ||||||
| 12 | (S)he benefits from (her) his proficiency in economics and finance to make policy suggestions and contribute to the field. | X | |||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 40 | |
| Rate of Final Exam to Success | 60 | |
| Total | 100 | |
| ECTS / Workload Table | ||||||
| Activities | Number of | Duration(Hour) | Total Workload(Hour) | |||
| Course Hours | 14 | 3 | 42 | |||
| Guided Problem Solving | 14 | 2 | 28 | |||
| Resolution of Homework Problems and Submission as a Report | 14 | 2 | 28 | |||
| Term Project | 0 | 0 | 0 | |||
| Presentation of Project / Seminar | 0 | 0 | 0 | |||
| Quiz | 1 | 1 | 1 | |||
| Midterm Exam | 1 | 23 | 23 | |||
| General Exam | 1 | 45 | 45 | |||
| Performance Task, Maintenance Plan | 0 | 0 | 0 | |||
| Total Workload(Hour) | 167 | |||||
| Dersin AKTS Kredisi = Toplam İş Yükü (Saat)/30*=(167/30) | 6 | |||||
| ECTS of the course: 30 hours of work is counted as 1 ECTS credit. | ||||||
Detail Informations of the Course
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| INTERMEDIATE MICROECONOMICS | ECO2152760 | Fall Semester | 3+0 | 3 | 6 |
| Course Program | Pazartesi 13:30-14:15 Pazartesi 14:30-15:15 Pazartesi 15:30-16:15 Perşembe 14:30-15:15 Perşembe 15:30-16:15 Perşembe 16:30-17:15 |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | English |
| Course Level | First Cycle (Bachelor's Degree) |
| Course Type | Required |
| Course Coordinator | Assist.Prof. Ayşe Saime DÖNER |
| Name of Lecturer(s) | Assist.Prof. Ayşe Saime DÖNER |
| Assistant(s) | |
| Aim | Acquisition of the basic knowledge and skills of microeconomic analysis necessary for individuals to address economic questions they may encounter and to make economic decisions in their best interest as consumers or as managers |
| Course Content | This course contains; The basic ideas of the microeconomic theory, Basic supply-and-demand analysis ,Consumer behavior,Individual and market demand,Production, production functions,Cost of production,Profit maximization,Government policies in competitive markets,Government policies in competitive markets,Monopoly,Pricing with monopoly power,Monopolistic competition, Oligopoly ,Game theory and strategic decisions,Markets for factor inputs,General equilibrium. |
| Dersin Öğrenme Kazanımları | Teaching Methods | Assessment Methods |
| 1. Will be able to explain the ideas that form the foundations of the microeconomic theory and conduct basic supply-and-demand analysis. | 16, 6, 9 | A |
| 1.1 Explains the concept of markets and the function of prices. | 16, 6, 9 | A |
| 1.2 Explains the importance of microeconomics. | ||
| 1.3 Explains the supply-and-demand analysis. | ||
| 1.4 Defines elasticity and mentions its various types. | ||
| 2. Will be able to model consumer behavior. | 16, 6, 9 | A |
| 2.1 Explains the concept of consumer preference. | ||
| 2.2 Defines the indifference curve. | ||
| 2.3 Defines and explains the budget constraint. | ||
| 2.4 Explains the concept of consumer choice. | ||
| 2.5 Explains the concept of revealed preference. | ||
| 3. Will be able to analyze individual demand and market demand. | 16, 6, 9 | A |
| 3.1 Lists the factors impacting individual demand. | ||
| 3.2 Defines the income effect and the substitution effect. | ||
| 3.3 Explains the formation of the market demand. | ||
| 3.4 Defines the concept of network externality. | ||
| 4. Will be able to model production, and analyze cost of production from various aspects. | 16, 6, 9 | A |
| 4.1 Touches upon the nature of firms. | ||
| 4.2 Defines the production function. | ||
| 4.3 Explains various ways of measuring production. | ||
| 4.4 Explains the returns to scale. | ||
| 4.5 Defines the short-run cost of production and the short-run cost curve. | ||
| 4.6 Defines the long-run cost of production and the long-run cost curve. | ||
| 5. Will be able to model and analyze profit maximization policies in competitive markets and investigate the impact of government policies in competitive markets. | 16, 6, 9 | A |
| 5.1 Models profit maximization. | ||
| 5.2 Analyzes the short-run production decision and the short-run firm supply. | ||
| 5.3 Analyzes the long-run production decision and the long-run firm supply. | ||
| 5.4 Analyzes the long-run supply of the industry. | ||
| 5.5 Analyzes the impacts of price floors and price ceilings in competitive markets. | ||
| 5.6 Analyzes the impacts of import tariffs and quotas in competitive markets. | ||
| 6. Will be able to model monopoly power, analyze its social costs, and product pricing with market power. | 16, 6, 9 | A |
| 6.1 Defines monopoly power. | ||
| 6.2 Explains the sources of monopoly power. | ||
| 6.3 Analyzes the social costs of monopoly power. | ||
| 6.4 Examines the limiting of monopoly power. | ||
| 6.5 Examines product pricing with monopoly power. | ||
| 7. Will be able to analyze monopolistic competition and oligopoly. | 16, 6, 9 | A |
| 7.1 Defines monopolistic competition. | ||
| 7.2 Analyzes monopolistic competition. | ||
| 7.3 Analyzes oligopoly. | ||
| 8. Will be able to acquire the skills to make various strategic decisions using the building blocks of the game theory. | 16, 6, 9 | A |
| 8.1 Defines the building blocks of the game theory. | ||
| 8.2 Explains how the game theory can be used in strategic decision making. | ||
| 9. Will be able to analyze the markets for factor inputs. | 16, 6, 9 | A |
| 9.1 Analyzes the competitive factor input markets. | ||
| 9.2 Analyzes the factor input markets with monopoly power. | ||
| 10. Will be able to conduct basic general equilibrium analysis. | 16, 6, 9 | A |
| 10.1 Defines the concept of general equilibrium. | ||
| 10.2 Examines efficiency in exchange. | ||
| 10.3 Examines efficiency in production. | ||
| 10.4 Analyzes the gains from free trade. |
| Teaching Methods: | 16: Question - Answer Technique, 6: Experiential Learning, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | The basic ideas of the microeconomic theory, Basic supply-and-demand analysis | |
| 2 | Consumer behavior | |
| 3 | Individual and market demand | |
| 4 | Production, production functions | |
| 5 | Cost of production | |
| 6 | Profit maximization | |
| 7 | Government policies in competitive markets | |
| 8 | Government policies in competitive markets | |
| 9 | Monopoly | |
| 10 | Pricing with monopoly power | |
| 11 | Monopolistic competition, Oligopoly | |
| 12 | Game theory and strategic decisions | |
| 13 | Markets for factor inputs | |
| 14 | General equilibrium |
| Resources |
| [1] Microeconomics, 2018, 9. Edisyon, Robert Pindyck, Daniel Rubinfeld, Pearson [2] Pearson MyLab Economics [3] Intermediate Microeconomics: A Modern Approach, Hal R. Varian |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | (S)he describes theoretical knowledge in economics and finance. | X | |||||
| 2 | (S)he explains mathematical and statistical methods needed for economics and finance. | X | |||||
| 3 | (S)he uses at least one computer program utilized for economic and financial analyses (SPSS, Eviews, STATA, R ve MATLAB). | ||||||
| 4 | (S)he has the foreign language proficiency necessary for economics and finance. | ||||||
| 5 | (S)he develops projects in the field and handles team work. | ||||||
| 6 | (S)he develops (her) his awareness of lifetime learning, follows the developments in (her) his field and adopts a critical approach. | X | |||||
| 7 | (S)he uses theoretical and practical knowledge on economics and finance. | X | |||||
| 8 | (S)he delivers (her) his opinions by making effective use of modern technologies and of at least one foreign language at a minimum level of level C1. | ||||||
| 9 | (S)he adopts and uses organizational, corporate and social ethical values. | ||||||
| 10 | (S)he adopts principles of social responsibility and acts whenever needed in light of social service sensitivity. | ||||||
| 11 | (S)he analyzes and uses basic knowledge and data regarding different disciplines to conduct inter-disciplinary studies. | ||||||
| 12 | (S)he benefits from (her) his proficiency in economics and finance to make policy suggestions and contribute to the field. | X | |||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 40 | |
| Rate of Final Exam to Success | 60 | |
| Total | 100 | |