MICROECONOMICS DERS TANITIM VE UYGULAMA BİLGİLERİ

Kodu	Dersin Adı	Yarıyıl	Süresi(T+U)	Kredisi	AKTS Kredisi
ECF207	MICROECONOMICS	3	3	3	6

DERS BİLGİLERİ
Dersin Öğretim Dili :	İngilizce
Dersin Düzeyi	BACHELOR'S DEGREE, TYY: + 6.Level, EQF-LLL: 6.Level, QF-EHEA: First Cycle
Dersin Türü	Zorunlu
Dersin Veriliş Şekli	-
Dersin Koordinatörü	Assoc.Prof. ONUR ÖZDEMİR
Dersi Veren Öğretim Üyesi/Öğretim Görevlisi	Doç.Dr. ONUR ÖZDEMİR
Ders Ön Koşulu	Yok

AMAÇ VE İÇERİK
Amaç:	This course aims to give the student the ability to interpret the functioning of the economic system at the firm and individual level.
İçerik:	Contents of the course include the subjects such as Production Possibilities Curve, Supply-Demand and Market Equilibrium, Government Interferences, Consumer Balance and Market Types.

DERSİN ÖĞRENME ÇIKTILARI (Öğrenciler, bu dersi başarı ile tamamladıklarında aşağıda belirtilen bilgi, beceri ve/veya yetkinlikleri gösterirler.)
Explain the basic concepts and assumptions in microeconomics. (2)
Analyze consumer behavior under uncertainty.(4)
Analyze the strategic behaviour of the perfect competition market, monopoly, monopolistic competition market and oligopoly market. (4)
Analyze producer equilibrium. (4)
Explain the product cost, short and long run all cost functions. (2)
Understand how to apply economic principles to a range of policy questions.

HAFTALIK DERS KONULARI VE ÖNGÖRÜLEN HAZIRLIK ÇALIŞMALARI
Hafta	Ön Hazırlık	Konular	Yöntem
1	Reading	The Themes of Microeconomics: Trade-offs, prices and markets, theories and models, positive and normative analysis, competitive versus noncompetitive markets, market price, market definition—the extent of a market, real and nominal prices.	Lecture & Question Answer & Problem Solving
2	Reading	The basics of supply and Demand: Supply and Demand, the supply curve, the demand curve, the market mechanism, changes in market equilibrium, elasticities of supply and demand, point and arc elasticities, short-run and long-run elasticities, effects of government intervention—price controls.	Lecture & Question Answer & Problem Solving
3	Reading	Consumer behavior: Consumer preferences, indifference curves and maps, the marginal rate of substitution, perfect substitutes and perfect complements, budget constraints, budget line, the effects of changes in income and prices, consumer choice, marginal utility and consumer choice, living indexes.	Lecture & Question Answer & Research
4	Reading	Individual and market demand: Individual demand, income and substitution effects, market demand, consumer surplus, externalities empirical estimation of demand.	Lecture & Question Answer & Research
5	Reading	Production: Firms and their production decisions, average and marginal products, the slopes of the product curve, the average product of labor curve, the marginal product of labor curve, the law of diminishing marginal returns, isoquants, input flexibility, diminishing marginal returns, substitution among inputs, production functions, returns to scale.	Lecture & Question Answer & Research
6	Reading	The cost of Production: Measuring cost, economic cost and accounting cost, opportunity cost, fixed, marginal and average costs, cost in the short run, cost in the long run, the isocost line cost minimization,the expansion path and long-run costs , long-run versus short-run cost curves, the relationship between short-run and long-run cost, production with two outputs—economies of scope, product transformation curves.	Lecture & Question Answer & Problem Solving
7	Reading	Profit maximization and competitive supply: Perfectly competitive markets, profit maximization, marginal revenue, marginal cost, and profit maximization, choosing output in the short run, short-run profit maximization by a competitive firm, the competitive firm’s short-run supply curve, the firm’s response to an input price change the short-run market supply curve, elasticity of market supply, producer surplus in the short run, long-run profit maximization.	Lecture & Question Answer & Problem Solving
8	-	MID-TERM EXAM	-
9	Reading	The analysis of competitive markets: Evaluating the gains and losses from government policies—consumer and producer surplus , the efficiency of a competitive market, minimum prices, price supports and production quotas, import quotas and tariffs, the impact of a tax or subsidy.	Lecture & Question Answer & Problem Solving
10	Reading	Market Power of monopoly: Monopoly, average revenue and marginal revenue, the monopolist’s output decision, shifts in demand, the effect of a tax, production, price, and monopoly power, sources of monopoly power, the elasticity of market demand, the interaction among firms, the social costs of monopoly power, price regulation, monopsony, monopsony and monopoly compared.	Lecture & Question Answer & Problem Solving
11	Reading	Market Power of monopsony: Monopoly, Average Revenue and Marginal Revenue, Monopsony profit maximization, Monopsony Power, Sources of Monopsony Power, The Social Costs of Monopsony Power, Bilateral Monopoly, Limiting Market Power: The Antitrust Laws.	Lecture & Question Answer & Problem Solving
12	Reading	Monopolistic competition and oligopoly: Monopolistic competition, the equilibrium in the short run and the long run, monopolistic competition and economic efficiency, oligopoly, equilibrium in an oligopolistic market, The Cournot Model, the linear demand curve, The Stackelberg Model, price competition, The Bertrand Model, the prisoners’ dilemma and oligopolistic pricing, price rigidity, The Dominant Firm Model, cartels, analysis of cartel pricing.	Lecture & Question Answer & Problem Solving
13	Reading	General equilibrium and economic efficiency-I : General Equilibrium Analysis, economic efficiency, efficiency in exchange, the advantages of trade, The Edgeworth Box Diagram, efficient allocations, the contract curve, consumer equilibrium in a competitive market.	Lecture & Question Answer & Problem Solving
14	Reading	General equilibrium and economic efficiency-II: The economic efficiency of competitive markets, equity and efficiency, The Utility Possibilities Frontier, equity and perfect competition, efficiency in production, input efficiency, The Production Possibilities Frontier, output efficiency, efficiency in output markets, the gains from free trade , comparative advantage, an expanded Production Possibilities Frontier, markets fail, incomplete information, externalities, public goods.	Lecture & Question Answer & Problem Solving
15	Reading	Markets with asymmetric information: Quality uncertainty and the market for lemons, implications of asymmetric information, a simple model of job market signaling, moral hazard, the principal–agent problem, asymmetric information in labor markets: efficiency Wage Theory.	Lecture & Question Answer & Problem Solving
16	-	FINAL EXAM	-
17	-	FINAL EXAM	-

KAYNAKLAR
Principles of Microeconomics (2013). Mankiw, G. Cangage Learing. USA.
Microeconomics. Pindyck, Robert S. Rubinfeld, Daniel L (2018), Pearson, England

ÖLÇME VE DEĞERLENDİRME
Yarıyıl İçi Yapılan Çalışmaların Ölçme ve Değerlendirmesi	Etkinlik Sayısı	Katkı Yüzdesi	Açıklama

(0) Etkisiz	(1) En Düşük	(2) Düşük	(3) Orta	(4) İyi	(5) Çok İyi
0	1	2	3	4	5

KNOWLEDGE
Theoretical
	Program Yeterlilikleri/Çıktıları	Katkı Düzeyi
		0	1	2	3	4	5
1	Describe basic theories of microeconomics and macroeconomics by benefiting from assumptions and axioms.						5
2	Recognize the entries in the book and financial balance sheet of the business organization.					4
3	Define concepts, theories and principles of basic and subfields of international trade by adhering to the background knowledge.		1

KNOWLEDGE
Factual
	Program Yeterlilikleri/Çıktıları	Katkı Düzeyi
		0	1	2	3	4	5
1	Summarize historical development of the international trade theories by adhering to the chronological order.		1
2	Use theoretical knowledge gained in the field of international trade in occupational practices and daily life.			2
3	Solve financial and legal problems confronted in international trade practices.		1

SKILLS
Cognitive
	Program Yeterlilikleri/Çıktıları	Katkı Düzeyi
		0	1	2	3	4	5
1	Relate statistical raw data by benefiting from computer programs and relate data with one another in consideration of theoretical knowledge.					4
2	Evaluate developments in the world in consideration of common courses in the faculty with an intellectual perspective.					4

SKILLS
Practical
	Program Yeterlilikleri/Çıktıları	Katkı Düzeyi
		0	1	2	3	4	5
1	Interpret current events and facts in international trade based on advanced knowledge and skills from an analytical and systematic holistic view.			2

OCCUPATIONAL
Autonomy & Responsibility
	Program Yeterlilikleri/Çıktıları	Katkı Düzeyi
		0	1	2	3	4	5
1	Relate knowledge about economic globalization and internationalization with current knowledge in the field.			2

OCCUPATIONAL
Learning to Learn
	Program Yeterlilikleri/Çıktıları	Katkı Düzeyi
		0	1	2	3	4	5
1	Examine current economic policies applied over the gained advanced knowledge and skills by a critical approach.					4

OCCUPATIONAL
Communication & Social
	Program Yeterlilikleri/Çıktıları	Katkı Düzeyi
		0	1	2	3	4	5
1	Explain demands in written or verbally by using the foreign language skill in business and social life effectively.				3
2	Tell knowledge, thoughts and solution offers regarding subjects in international trade to relevant stakeholders demands in written or verbally.			2
3	Design a healthy communication network for themselves in the business world by using social life skills.			2

OCCUPATIONAL
Occupational and/or Vocational
	Program Yeterlilikleri/Çıktıları	Katkı Düzeyi
		0	1	2	3	4	5
1	Analyze current issues, events and problems by benefiting from theoretical and historical knowledge of international trade and economics.				3
2	Develop suggestions for international trade policies by determining economic problems in the macro level.					4
3	Apply commercial applications in consideration of knowledge gained in financing and management of international trade by being inclusive of international market			2
4	Discuss the effects of commercial and financial globalization processes on the income distribution, by benefiting from data.			2

DERSİN İŞ YÜKÜ VE AKTS KREDİSİ
Öğrenme-Öğretme Etkinlikleri İş Yükü
Öğrenme-Öğretme Etkinlikleri	Etkinlik(hafta sayısı)	Süresi(saat sayısı)	Toplam İş Yükü
Lecture & In-Class Activities	14	3	42
Preliminary & Further Study	13	2	26
Land Surveying	0	0	0
Group Work	0	0	0
Laboratory	0	0	0
Reading	7	2	14
Assignment (Homework)	10	2	20
Project Work	0	0	0
Seminar	0	0	0
Internship	0	0	0
Technical Visit	0	0	0
Web Based Learning	0	0	0
Implementation/Application/Practice	0	0	0
Practice at a workplace	0	0	0
Occupational Activity	0	0	0
Social Activity	0	0	0
Thesis Work	0	0	0
Field Study	0	0	0
Report Writing	0	0	0
Final Exam	1	1	1
Preparation for the Final Exam	4	8	32
Mid-Term Exam	1	1	1
Preparation for the Mid-Term Exam	2	8	16
Short Exam	0	0	0
Preparation for the Short Exam	0	0	0
TOTAL	52	0	152