| MATHEMATICS | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| ECO2211 | Microeconomics | Fall Spring |
3 | 0 | 3 | 8 |
| This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester. |
| Language of instruction: | English |
| Type of course: | Departmental Elective |
| Course Level: | Bachelor’s Degree (First Cycle) |
| Mode of Delivery: | Face to face |
| Course Coordinator : | Assist. Prof. DİMİTAR ASENOV SIMEONOV |
| Course Lecturer(s): |
Assist. Prof. DİMİTAR ASENOV SIMEONOV Prof. Dr. NECİP ÇAKIR Assoc. Prof. KAAN İRFAN ÖĞÜT |
| Recommended Optional Program Components: | None |
| Course Objectives: | The purpose of this course is to introduce the analytical framework used by economists in examining microeconomic issues. Economics can be defined as “the study of how a society uses its limited resources to produce, trade, and consume goods and services.” Formally we are interested in the motivations of, and constraints faced by, economic decision makers such as individuals and firms. We will see that while the field is very useful in the study of money and business, it is exactly versatile and provides a useful tool in the analysis of many social issues as well. |
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The students who have succeeded in this course; • develop the ability to apply economic reasoning to personal and business decisions and understand how economic concepts affect the management and allocation of public and private resources among competing uses; • learn practical tools to examine and solve some decision making problems – for example use diagrams to express economic relationships and predict the consequences of changes in economic variables; • develop ability to apply economic concepts to real world situations; • become comfortable with the meaning and relevance of economic concepts such as opportunity cost; self-interest (incentives); supply and demand; market structure and its influence on price; marginal analysis and externalities and property rights aiming other concepts. |
| The teaching methods of the course are Lecture, Reading, Collaborative Learning, Individual Study, Differentiation, Discussion and Problem Solving. Introduction Supply and Demand The theory of consumer choice Individual and Market Demand Using Consumer Choice Theory Exchange, Efficiency and Prices Production The Costs of Production Profit Maximization in Perfectly Competitive Market Using the Competitive Model Monopoly Product Pricing with Monopoly Power Monopolistic Competition and Oligopoly Imperfect Information Public Goods and Externalities Teaching Methods and Techniques Used in the Course • Individual Study • Differentiation • Collaborative Learning • Reading • Discussion • Problem Solving • Lecture |
| Week | Subject | Related Preparation |
| 1) | Preliminaries of the Course | |
| 2) | The Basics of Supply and Demand | |
| 3) | Consumer Behavior | |
| 4) | Individual and Market Demand | |
| 5) | Uncertainty and Consumer Behavior | |
| 6) | Production | |
| 7) | The Costs of Production | |
| 8) | Midterm Exam | |
| 9) | Profit Maximization, Competitive Supply and Factor Demand. | |
| 10) | The Analysis of Competitive Markets | |
| 11) | Market Power: Monopoly and Monopsony | |
| 12) | Pricing with Market Power | |
| 13) | Monopolistic Competition and Oligopoly | |
| 14) | Game Theory and Competitive Strategy |
| Course Notes / Textbooks: | Microeconomics, Pearson, 9th Edition, Author(s): Robert S. Pindyck, Daniel Rubinfield; ISBN-13: 978-1-292-21331-6 |
| References: |
| Semester Requirements | Number of Activities | Level of Contribution |
| Homework Assignments | 1 | % 10 |
| Midterms | 1 | % 30 |
| Final | 1 | % 60 |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 40 | |
| PERCENTAGE OF FINAL WORK | % 60 | |
| Total | % 100 | |
| Activities | Number of Activities | Workload |
| Course Hours | 14 | 38 |
| Study Hours Out of Class | 15 | 143 |
| Midterms | 3 | 6 |
| Total Workload | 187 | |
| No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
| Program Outcomes | Level of Contribution | |
| 1) | To have a grasp of basic mathematics, applied mathematics and theories and applications in Mathematics | |
| 2) | To be able to understand and assess mathematical proofs and construct appropriate proofs of their own and also define and analyze problems and to find solutions based on scientific methods, | |
| 3) | To be able to apply mathematics in real life with interdisciplinary approach and to discover their potentials, | |
| 4) | To be able to acquire necessary information and to make modeling in any field that mathematics is used and to improve herself/himself, | |
| 5) | To be able to tell theoretical and technical information easily to both experts in detail and non-experts in basic and comprehensible way, | |
| 6) | To be familiar with computer programs used in the fields of mathematics and to be able to use at least one of them effectively at the European Computer Driving Licence Advanced Level, | |
| 7) | To be able to behave in accordance with social, scientific and ethical values in each step of the projects involved and to be able to introduce and apply projects in terms of civic engagement, | |
| 8) | To be able to evaluate all processes effectively and to have enough awareness about quality management by being conscious and having intellectual background in the universal sense, | |
| 9) | By having a way of abstract thinking, to be able to connect concrete events and to transfer solutions, to be able to design experiments, collect data, and analyze results by scientific methods and to interfere, | |
| 10) | To be able to continue lifelong learning by renewing the knowledge, the abilities and the competencies which have been developed during the program, and being conscious about lifelong learning, | |
| 11) | To be able to adapt and transfer the knowledge gained in the areas of mathematics ; such as algebra, analysis, number theory, mathematical logic, geometry and topology to the level of secondary school, | |
| 12) | To be able to conduct a research either as an individual or as a team member, and to be effective in each related step of the project, to take role in the decision process, to plan and manage the project by using time effectively. |