MICROECONOMICS PROGRAMME COURSE DESCRIPTION

Code	Name of the Course Unit	Semester	In-Class Hours (T+P)	Credit	ECTS Credit
EKF207	MICROECONOMICS	3	3	3	6

GENERAL INFORMATION
Language of Instruction :	Turkish
Level of the Course Unit :	BACHELOR'S DEGREE, TYY: + 6.Level, EQF-LLL: 6.Level, QF-EHEA: First Cycle
Type of the Course :	Compulsory
Mode of Delivery of the Course Unit	-
Coordinator of the Course Unit	Assist.Prof. MEHMET SAYA
Instructor(s) of the Course Unit	Assoc.Prof. İSMAİL CEM AY
Course Prerequisite	No

OBJECTIVES AND CONTENTS
Objectives of the Course Unit:	This course aims to give the student the ability to interpret the functioning of the economic system at the firm and individual level.
Contents of the Course Unit:	Contents of the course include the subjects such as Production Possibilities Curve, Supply-Demand and Market Equilibrium, Government Interferences, Consumer Balance and Market Types.

KEY LEARNING OUTCOMES OF THE COURSE UNIT (On successful completion of this course unit, students/learners will or will be able to)
Explain the basic concepts and assumptions in microeconomics.
Analyze consumer theory.
Interpret the elasticities of goods.
Analyze producer equilibrium.
Explain the product cost, short and long run all cost functions.
Analyze the strategic behaviour of the perfect competition market, monopoly, monopolistic competition market and oligopoly markets.

WEEKLY COURSE CONTENTS AND STUDY MATERIALS FOR PRELIMINARY & FURTHER STUDY
Week	Preparatory	Topics(Subjects)	Method
1	Reading	Introduction to Microeconomics, Basic Definitions and Concepts	Lecture & Question and Answer & Discussion
2	Reading	Price Mechanism, Demand, Demand Curve, Demand Law, Demand Function	Lecture & Question and Answer & Discussion
3	Reading	Giffen Paradox, Demand Shift, Demand Elasticity	Lecture & Question and Answer & Discussion
4	Reading	Demand Elasticity, Point Elasticity, Arc Elasticity, Income Elasticity	Lecture & Question and Answer & Discussion
5	Reading	Price Elasticity of Demand and Consumption Expenditures, Supply, Supply Curve, Law of Supply, Supply Function, Supply Change, Supply Shift, Supply Elasticity	Lecture & Question and Answer & Discussion
6	Reading	Supply Elasticity, Point Elasticity, Arc Elasticity, Cross Elasticity, Market Equilibrium	Lecture & Question and Answer & Discussion
7	Reading	Supply Elasticity, Point Elasticity, Arc Elasticity, Cross Elasticity, Market Equilibrium, Production Possibility Frontier	Lecture & Question and Answer & Discussion
8	Reading	Some Applications According to Demand-Supply-Elasticity Concepts (Black Market Price of Consumer and Producer Surplus, King's Law, Cobweb Theorem)	Lecture & Question and Answer & Discussion
9	Reading	The Problem of Measurability of Utility and Determination of Preference Order, Cardinal Utility Approach, Ordinal Utility Approach	Lecture & Question and Answer & Discussion
10	-	MID-TERM EXAM	-
10	-	MID-TERM EXAM	-
11	Reading	The Problem of Measurability of Utility and Determination of Order of Preference, Cardinal Utility Approach, Ordinal Utility Approach	Lecture & Question and Answer & Discussion
12	Reading	Ordinal Utility Approach (Indifference Curves, Budget Line and Consumer Equilibrium) and Ordinal Utility Approach (Indifference Curves, Budget Line and Consumer Equilibrium), Producer Theory (Law of Diminishing Returns, Co-Product Curves, Co-Cost Lines, Producer Equilibrium)	Lecture & Question and Answer & Discussion
13	Reading	Perfect Competition Market	Lecture & Question and Answer & Discussion
14	Reading	Monopoly Market	Lecture & Question and Answer & Discussion
15	Reading	General Review	Lecture & Question and Answer & Discussion
16	-	FINAL EXAM	-
17	-	FINAL EXAM	-

SOURCE MATERIALS & RECOMMENDED READING
Erdal M. Ünsal. (2017). Mikro İktisat. Gözden Geçirilmiş 11. Baskı. Ankara: Murat Yayınları.

ASSESSMENT
Assessment & Grading of In-Term Activities	Number of Activities	Degree of Contribution (%)	Description	Examination Method
Mid-Term Exam	1	50		Classical Exam
Final Exam	1	50		Classical Exam
TOTAL	2	100

Level of Contribution
0	1	2	3	4	5

KNOWLEDGE
Theoretical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Define the basic concepts of economics, administrative and human sciences. (Bloom 1)		1
2	Evaluate the economic environment and overall sustainability of firms. (Bloom 4)				3

KNOWLEDGE
Factual
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Relate principles and concepts of economics and finance with other disciplines. (Bloom 4)			2
2	Define principles, concepts, methods and theories related with economics and finance. (Bloom 1)	0

SKILLS
Cognitive
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Interpret the charts and tables related to the field. (Bloom 2)				3

SKILLS
Practical
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Evaluate the theoretical models of economic policies which have direct or indirect effects by using the facts and dynamics of the economic system.(Bloom 4)				3
2	Analyze economic and financial reports. ((bloom 4)			2
3	Use basic mathematics, statistics and econometric methods and tools to solve economic and financial problems. (Bloom 3)			2
4	Interpret the operation of current economic, political and social events by using institutional information related with Economics and Finance.(Bloom 2)				3

OCCUPATIONAL
Autonomy & Responsibility
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Organize economic and financial activities in humanitarian and social terms with adherence to ethics. (Bloom 4).		1

OCCUPATIONAL
Learning to Learn
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Develop a critical perspective on national and international economic, political, social, financial and development problems. (bloom 6)					4

OCCUPATIONAL
Communication & Social
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Follow the agenda on economics, politics and social issues and improve himself/ herself. (bloom 6)			2

OCCUPATIONAL
Occupational and/or Vocational
	Programme Learning Outcomes	Level of Contribution
		0	1	2	3	4	5
1	Analyze current issues and problems by using the structure and properties of Macro and Microeconomics and variables. (Bloom 4)					4
2	Evaluate the effectiveness of the general economic system and public policies and their effects on markets and basic economic variables.(Bloom 4)				3
3	Analyze the cause and effect relationships between the relevant economic variables. (Bloom 4)					4
4	Evaluate the expected trends and portfolio analyzes in interest and exchange rates within the framework of the general financial system. (Bloom 4)				3

WORKLOAD & ECTS CREDITS OF THE COURSE UNIT
Workload for Learning & Teaching Activities
Type of the Learning Activites	Learning Activities (# of week)	Duration (hours, h)	Workload (h)
Lecture & In-Class Activities	14	3	42
Preliminary & Further Study	14	2	28
Land Surveying	0	0	0
Group Work	0	0	0
Laboratory	0	0	0
Reading	10	2	20
Assignment (Homework)	7	2	14
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	53	0	154