Code | Name of the Course Unit | Semester | In-Class Hours (T+P) | Credit | ECTS Credit |
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EKF207 | MICROECONOMICS | 3 | 3 | 3 | 6 |
GENERAL INFORMATION |
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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 | Prof. BÜLENT EŞİYOK |
Instructor(s) of the Course Unit | Assoc.Prof. İSMAİL CEM AY |
Course Prerequisite | No |
OBJECTIVES AND CONTENTS |
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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) |
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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 |
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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, Law of Demand, 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, Income Elasticity | Lecture & Question and Answer & Discussion |
5 | Reading | Price Elasticity of Demand and Consumption Expenditures, Supply, Supply Curve, Law of Supply, Supply Function, Change in Supply, Supply Shift, Elasticity of Supply | Lecture & Question and Answer & Discussion |
6 | Reading | Elasticity of Supply, Point Elasticity, Cross Elasticity, Market Equilibrium | Lecture & Question and Answer & Discussion |
7 | Reading | Elasticity of Supply, Point Elasticity, Cross Elasticity, Market Equilibrium, Production Possibilities Frontier | Lecture & Question and Answer & Discussion |
8 | - | MID-TERM EXAM | - |
8 | - | MID-TERM EXAM | - |
9 | Reading | Applications to Demand and Supply Elasticities | Lecture & Question and Answer & Discussion |
10 | Reading | The Problem of Measurability of Utility and Determination of the Order of Preference | Lecture & Question and Answer & Discussion |
11 | Reading | Cardinal Utility Approach | Lecture & Question and Answer & Discussion |
12 | Reading | Ordinal Utility Approach | Lecture & Question and Answer & Discussion |
13 | Reading | Production and Pricing in Monopoly | Lecture & Question and Answer & Discussion |
14 | Reading | Production and Pricing in Monopolistic Competition | Lecture & Question and Answer & Discussion |
15 | Reading | Production and Pricing in Oligopoly | Lecture & Question and Answer & Discussion |
16 | - | FINAL EXAM | - |
17 | - | FINAL EXAM | - |
SOURCE MATERIALS & RECOMMENDED READING |
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Erdal M. Ünsal. (2017). Mikro İktisat. Gözden Geçirilmiş 11. Baskı. Ankara: Murat Yayınları. |
ASSESSMENT |
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Assessment & Grading of In-Term Activities | Number of Activities | Degree of Contribution (%) | Description |
Level of Contribution | |||||
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0 | 1 | 2 | 3 | 4 | 5 |
KNOWLEDGE |
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Theoretical |
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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)
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1 | |||||
2 |
Evaluate the economic environment and overall sustainability of firms. (Bloom 4)
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3 |
KNOWLEDGE |
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Factual |
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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)
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2 | |||||
2 |
Define principles, concepts, methods and theories related with economics and finance. (Bloom 1)
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0 |
SKILLS |
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Cognitive |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Interpret the charts and tables related to the field. (Bloom 2)
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3 |
SKILLS |
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Practical |
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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)
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3 | |||||
2 |
Analyze economic and financial reports. ((bloom 4)
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2 | |||||
3 |
Use basic mathematics, statistics and econometric methods and tools to solve economic and financial problems. (Bloom 3)
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2 | |||||
4 |
Interpret the operation of current economic, political and social events by using institutional information related with Economics and Finance.(Bloom 2)
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3 |
OCCUPATIONAL |
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Autonomy & Responsibility |
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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).
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1 |
OCCUPATIONAL |
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Learning to Learn |
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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)
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4 |
OCCUPATIONAL |
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Communication & Social |
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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)
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2 |
OCCUPATIONAL |
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Occupational and/or Vocational |
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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)
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4 | |||||
2 |
Evaluate the effectiveness of the general economic system and public policies and their effects on markets and basic economic variables.(Bloom 4)
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3 | |||||
3 |
Analyze the cause and effect relationships between the relevant economic variables. (Bloom 4)
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4 | |||||
4 |
Evaluate the expected trends and portfolio analyzes in interest and exchange rates within the framework of the general financial system. (Bloom 4)
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3 |
WORKLOAD & ECTS CREDITS OF THE COURSE UNIT |
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Workload for Learning & Teaching Activities |
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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 |
Total Workload of the Course Unit | 154 | ||
Workload (h) / 25.5 | 6 | ||
ECTS Credits allocated for the Course Unit | 6,0 |