| School/Faculty/Institute | Faculty of Economics, Administrative and Social Sciences | ||||
| Course Code | ECON 101 | ||||
| Course Title in English | Microeconomics | ||||
| Course Title in Turkish | Mikroekonomi | ||||
| Language of Instruction | EN | ||||
| Type of Course | Flipped Classroom | ||||
| Level of Course | Introductory | ||||
| Semester | Fall | ||||
| Contact Hours per Week |
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| Estimated Student Workload | 125 hours per semester | ||||
| Number of Credits | 5 ECTS | ||||
| Grading Mode | Standard Letter Grade | ||||
| Pre-requisites | None | ||||
| Co-requisites | None | ||||
| Expected Prior Knowledge | None | ||||
| Registration Restrictions | Only undergraduate students | ||||
| Overall Educational Objective | Understand basic microeconomic concepts and ideas about how the economy works at the micro level. | ||||
| Course Description | This course introduces micro-theory and its application to economic analysis. It covers the “neoclassical” theory of microeconomics. Topics include international trade, supply and demand, elasticity, efficiency, market failures, the effect of government on markets, cost curves, and firm behavior under different market structures. |
Course Learning Outcomes and CompetencesUpon successful completion of the course, the learner is expected to be able to:1) Develop an understanding of basic microeconomic concepts and ideas about how the economy works at the micro level 2) Compute gains from international trade 3) Understand the law of demand and supply and factors changing supply and demand; evaluate equilibrium in markets with different elasticities 4) Describe efficiency of markets and failures to efficiency; evaluate the results of government interventions to the markets 5) Identify cost curves and decision-making processes of firms in different market structures |
| Program Learning Outcomes/Course Learning Outcomes | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| 1) Has a broad understanding of economics with a deep exposure to other social sciences and mathematics. | |||||
| 2) Demonstrates knowledge and skills in understanding the interactions of different areas of economics. | |||||
| 3) Displays a sound comprehension of microeconomic and macroeconomic theory. | |||||
| 4) Applies economic concepts to solve complex problems and enhance decision-making capability. | |||||
| 5) Uses quantitative techniques to analyze different economic systems. | |||||
| 6) Applies theoretical knowledge to analyze issues regarding Turkish and global economies. | |||||
| 7) Demonstrates proficiency in statistical tools and mainstream software programs to process and evaluate economic data. | |||||
| 8) Behaves according to scientific and ethical values at all stages of economic analysis: data collection, interpretation and dissemination of findings. | |||||
| 9) Uses written and spoken English effectively (at least CEFR B2 level) to exchange scientific information. | |||||
| 10) Exhibits individual and professional ethical behavior and social responsibility. | |||||
| 11) Displays learning skills necessary for further study with a high degree of autonomy |
| N None | S Supportive | H Highly Related |
| Program Outcomes and Competences | Level | Assessed by | |
| 1) | Has a broad understanding of economics with a deep exposure to other social sciences and mathematics. | H | Exam |
| 2) | Demonstrates knowledge and skills in understanding the interactions of different areas of economics. | S | Exam |
| 3) | Displays a sound comprehension of microeconomic and macroeconomic theory. | H | Exam |
| 4) | Applies economic concepts to solve complex problems and enhance decision-making capability. | H | Exam |
| 5) | Uses quantitative techniques to analyze different economic systems. | S | HW |
| 6) | Applies theoretical knowledge to analyze issues regarding Turkish and global economies. | H | Exam |
| 7) | Demonstrates proficiency in statistical tools and mainstream software programs to process and evaluate economic data. | N | |
| 8) | Behaves according to scientific and ethical values at all stages of economic analysis: data collection, interpretation and dissemination of findings. | S | HW |
| 9) | Uses written and spoken English effectively (at least CEFR B2 level) to exchange scientific information. | H | Participation |
| 10) | Exhibits individual and professional ethical behavior and social responsibility. | S | Exam |
| 11) | Displays learning skills necessary for further study with a high degree of autonomy | S | Exam |
| Prepared by and Date | DİLA ASFUROĞLU , November 2023 |
| Course Coordinator | MUHAMMED ABDULLAH ALTUNDAL |
| Semester | Fall |
| Name of Instructor | Asst. Prof. Dr. DİLA ASFUROĞLU |
| Week | Subject |
| 1) | Ten Principles of Economics |
| 2) | Thinking Like an Economist |
| 3) | Interdependence and the Gains from Trade |
| 4) | The Market Forces of Supply and Demand |
| 5) | Elasticity and Its Application |
| 6) | Consumers, Producers, and the Efficiency of Markets & Externality |
| 7) | Midterm Exam |
| 8) | Supply, Demand, and Government Policies & The Costs of Taxation |
| 9) | The Costs of Production |
| 10) | Firms in Competitive Markets |
| 11) | Monopoly |
| 12) | Monopolistic Competition |
| 13) | Game Theory: An Introduction |
| 14) | Oligopoly |
| 15) | Final Examination Period |
| 16) | Final Examination Period |
| Required/Recommended Readings | Principles of Microeconomics, 7th Edition N. Gregory Mankiw Economics, Mankiw, G. and Taylor M.P. | ||||||||||||||||||
| Teaching Methods | Flipped classroom | ||||||||||||||||||
| Homework and Projects | None | ||||||||||||||||||
| Laboratory Work | None | ||||||||||||||||||
| Computer Use | None | ||||||||||||||||||
| Other Activities | Pre-quiz, midterm, final | ||||||||||||||||||
| Assessment Methods |
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| Course Administration |
asfuroglud@mef.edu.tr More detailed information about the course, like office hours, can be found in the blackboard. Attendance will not be taken for this course. Missing midterm exam: No make up unless a legitimate proof of absence is presented. Missing pre-quizzes: No make up |
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| Activity | No/Weeks | Hours | Calculation | ||||
| No/Weeks per Semester | Preparing for the Activity | Spent in the Activity Itself | Completing the Activity Requirements | ||||
| Course Hours | 14 | 2 | 3 | 1 | 84 | ||
| Quiz(zes) | 7 | 1 | 0.5 | 0.5 | 14 | ||
| Midterm(s) | 1 | 10 | 2 | 12 | |||
| Final Examination | 1 | 20 | 2 | 22 | |||
| Total Workload | 132 | ||||||
| Total Workload/25 | 5.3 | ||||||
| ECTS | 5 | ||||||