| School/Faculty/Institute |
Faculty of Economics, Administrative and Social Sciences |
| Course Code |
ECON 201 |
| Course Title in English |
Microeconomic Theory I |
| Course Title in Turkish |
Mikroekonomik Teori I |
| Language of Instruction |
EN |
| Type of Course |
Ters-yüz öğrenme |
| Level of Course |
Orta |
| Semester |
Fall |
| Contact Hours per Week |
| Lecture: 3 |
Recitation: 0 |
Lab: 0 |
Other: 0 |
|
| Estimated Student Workload |
136 hours per semester |
| Number of Credits |
5 ECTS |
| Grading Mode |
Standard Letter Grade
|
| Pre-requisites |
MATH 104 - Mathematics for Social Sciences II
MATH 102 - Mathematics for Social Sciences Ii
ECON 101 - Microeconomics
|
| Co-requisites |
None |
| Expected Prior Knowledge |
Introduction level economics |
| Registration Restrictions |
Only undergraduate students |
| Overall Educational Objective |
The course intends to give a microeconomic way of thinking to the students. The main objective will be to explain consumer behavior, producer decisions and main properties of competitive market structure. |
| Course Description |
Microeconomic Theory I introduces an “economic way of thinking” and method of analysis in order to examine economic markets and human behavior. Microeconomic Theory I focuses on how choices are made (both at individual consumer and also producer level), how scarce resources are allocated among alternative ends, and how markets operate. Emphasis is placed on the operation of product and resource markets, the role of “prices” as signals, and decision-making by consumers, firms, workers, and government. The course provides students with the ability to use economic analysis (in particular, a demand-supply framework) and economic reasoning to better understand a variety of economic activities, as well as providing preparation for further study in economics. |
Course Learning Outcomes and Competences
Upon successful completion of the course, the learner is expected to be able to:
1) Define the basic concepts of microeconomics
2) Understand the basic concepts of consumer theory and utility maximization
3) Understand the basics of producer theory and profit maximization
4) Explain the rational decision making of consumers and producers
5) Define the pricing in competitive markets
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| 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. |
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| 2) Demonstrates knowledge and skills in understanding the interactions of different areas of economics. |
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| 3) Displays a sound comprehension of microeconomic and macroeconomic theory. |
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| 4) Applies economic concepts to solve complex problems and enhance decision-making capability. |
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| 5) Uses quantitative techniques to analyze different economic systems. |
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| 6) Applies theoretical knowledge to analyze issues regarding Turkish and global economies. |
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| 7) Demonstrates proficiency in statistical tools and mainstream software programs to process and evaluate economic data. |
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| 8) Behaves according to scientific and ethical values at all stages of economic analysis: data collection, interpretation and dissemination of findings. |
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| 9) Uses written and spoken English effectively (at least CEFR B2 level) to exchange scientific information. |
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| 10) Exhibits individual and professional ethical behavior and social responsibility. |
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| 11) Displays learning skills necessary for further study with a high degree of autonomy |
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Relation to Program Outcomes and Competences
| N None |
S Supportive |
H Highly Related |
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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. |
H |
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. |
S |
Exam
|
| 5) |
Uses quantitative techniques to analyze different economic systems. |
S |
Exam
|
| 6) |
Applies theoretical knowledge to analyze issues regarding Turkish and global economies. |
S |
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 |
Exam
|
| 9) |
Uses written and spoken English effectively (at least CEFR B2 level) to exchange scientific information. |
S |
Exam
|
| 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 |
H |
Exam
|
| Prepared by and Date |
BURHAN CAN KARAHASAN , December 2023 |
| Course Coordinator |
MUHAMMED ABDULLAH ALTUNDAL |
| Semester |
Fall |
| Name of Instructor |
Prof. Dr. BURHAN CAN KARAHASAN |
Course Contents
| Week |
Subject |
| 1) |
Introduction-Basic Concepts |
| 2) |
Demand and Supply Analysis and Market Equilibrium |
| 3) |
Consumer Preferences |
| 4) |
Consumer Behavior: Utility |
| 5) |
Consumer Behavior: Choice |
| 6) |
Consumer Behavior: Demand |
| 7) |
Midterm / Uncertainty and risky assets |
| 8) |
Production Theory: Technology |
| 9) |
Production Theory: Cost of Production |
| 10) |
Profit Maximization |
| 11) |
Production Theory: Firm supply |
| 12) |
Production Theory: Industry supply |
| 13) |
Analysis of the Competitive Markets |
| 14) |
Analysis of the Competitive Markets II / Review |
| 15) |
Final Examination Period |
| 16) |
Final Examination Period |
| Required/Recommended Readings | MICROECONOMICS, Pindyck R.S. and Rubinfeld D.L. (9th Edition, Pearson)
MICROECONOMICS, Perfloff (Pearson)
INTERMEDIATE MICROECONOMICS, Hal R. Varian (9th Edition, W. W. Norton Company)
|
| Teaching Methods | Flipped classroom |
| Homework and Projects | none |
| Laboratory Work | none |
| Computer Use | none |
| Other Activities | none |
| Assessment Methods |
| Assessment Tools |
Count |
Weight |
| Attendance |
14 |
% 0 |
| Quiz(zes) |
3 |
% 30 |
| Midterm(s) |
1 |
% 30 |
| Final Examination |
1 |
% 40 |
| TOTAL |
% 100 |
|
| Course Administration |
karahasanb@mef.edu.tr
Prof. Dr. Burhan Can Karahasan
Each week a three hour lecture will be done. Lecture materials (ppts., readings and videos) will be distributed digitally before the related lecture. Students are expected to work with these materials before the lecture. Active lecture discussion will be carried out based on the assigned materials. Additional lecture works and related requirements will be available in the course syllabus. |
Information Package / Course Catalogue