Course Information


Course Information
Course Title Code Semester L+U Hour Credits ECTS
MICROECONOMICS PEC209 3. Semester 4 + 0 4.0 7.0

Prerequisites None

Language of Instruction English
Course Level Bachelor's Degree
Course Type Compulsory
Mode of delivery
Course Coordinator
Instructors Abdullah Selim ÖZTEK
Assistants
Goals The course examines the economic behavior of consumers and producers on the basis of the benefit and profit maximization approach. The course covers intermediate microeconomic topics such as consumer theory, producer theory, production technologies and pricing, price and production levels in competitive and non-competitive markets, factor markets, taxes and subsidies.
Course Content Economic Problems and Economic Analysis: Economic Concepts; Mechanism of Perfect Competition Market: Supply and Demand; Elasticity; Market Equilibrium; Consumer Behavior: Cardinal and Ordinal Utility Theories; Production Technology and Costs; Pricing and Equilibrium in the Perfect Competition Market; Pricing and Equilibrium in the Monopolistic Market; Pricing and Equilibrium in Monopolistic Competition Market; Pricing and Equilibrium in Oligopolistic Market, Pricing in Complete and Imperfect Competition Conditions in Labor Market; General Equilibrium; Market Failures; Income Distribution
Learning Outcomes 1) It analyzes the economic behavior of consumers and producers according to the approach of benefit and profit maximization.
2) Perfect competition and incomplete competition will gain market mechanisms.
3) Understands and analyzes which factors determine the price and production levels when different markets are involved.
4) Analyzes on income distribution and inequality using general and partial equilibrium analyzes.

Weekly Topics (Content)
Week Topics Teaching and Learning Methods and Techniques Study Materials
1. Week Definition of Microeconomics, Analysis Methods Lecture; Question Answer; Discussion

 Homework
2. Week Consumer Choice Theory: Preferences and Utility, Types of Utility Function Lecture; Question Answer; Discussion

 Homework
3. Week Marshallian Consumer Behavior Approach: Budget Constraint and Utility Maximization, Characteristics of Marshallian Demand Functions Lecture; Question Answer

 Homework
4. Week Indirect Utility Function, Hicksian Consumer Behavior Approach: Properties of Compensated Demand Functions, Expenditure Function Lecture; Question Answer

 Homework
5. Week Comparative Static Analysis of Consumer Equilibrium: Income-Consumption Curve, Engel Curve, Price-Consumption Curve Lecture; Question Answer

 Homework
6. Week Slutsky Equation, Income and Substitution Effects, Comparison of Compensated and Uncompensated Demand Functions Lecture; Question Answer

 Homework
7. Week Elasticities Lecture; Question Answer

 Homework
8. Week Production Theory and Supply Lecture; Question Answer

 Homework
9. Week Short Run Analysis of Production Lecture; Question Answer

 Homework
10. Week Short-Run Profit Maximization of the Firm, Long-Run Analysis of Production: Returns to Scale Lecture; Question Answer

 Homework
11. Week Long Run Profit Maximization, Expansion Path Lecture; Question Answer

 Homework
12. Week Cost Theory: Economic Cost, Economic Profit, Short-Run Costs Lecture; Question Answer

 Homework
13. Week Long-Run Costs Lecture; Question Answer

 Homework
14. Week Scale Economies Lecture; Question Answer

 Homework

Sources Used in This Course
Recommended Sources
Intermediate Microeconomics, 6E, Hal R. Varian 2007.
Robert. H. Frank, Microeconomics 5E, McGraw-Hill 2008

Relations with Education Attainment Program Course Competencies
Program RequirementsContribution LevelDK1DK2DK3DK4
PY155555
PY255555
PY350000
PY455555

*DK = Course's Contrubution.
0 1 2 3 4 5
Level of contribution None Very Low Low Fair High Very High
.

ECTS credits and course workload
Event Quantity Duration (Hour) Total Workload (Hour)
Course Duration (Total weeks*Hours per week) 14 4
Work Hour outside Classroom (Preparation, strengthening) 14 2
Homework 14 2
Midterm Exam 1 1
Time to prepare for Midterm Exam 1 30
Final Exam 1 1
Time to prepare for Final Exam 1 60
Total Workload
Total Workload / 30 (s)
ECTS Credit of the Course
Quick Access Hızlı Erişim Genişlet
Course Information
  • Course Information
  • Weekly Topics (Content)
  • Sources Used in This Course
  • Relations with Education Attainment Program Course Competencies
  • ECTS credits and course workload