Code | Name of the Course Unit | Semester | In-Class Hours (T+P) | Credit | ECTS Credit |
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BAY213 | 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 | Assoc.Prof. HAKAN ÖZCAN |
Instructor(s) of the Course Unit | |
Course Prerequisite | No |
OBJECTIVES AND CONTENTS |
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Objectives of the Course Unit: | This course aims to provide the knowledge and skills to enable examining and analyzing micro economics in theory and practice |
Contents of the Course Unit: | Contents of the course include the subjects as in market mechanism, supply and demand theory and market balance, examining of economic analysis on individual and firm basis, Obtaining consumer balance according to Cardinal Benefit approach and criticism of this approach, ordinal utility approach and its characteristics with indifference curves, budget line and consumer balance in ordinal utility approach, investigation of the effects of changes in goods prices and income, goods markets, full competition market, short and long term balances, types of market intervention and application examples |
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 factors affecting consumer and firm behavior |
Demonstrate the functional relations of microeconomic variables by using a graph |
Demonstrate changes in functions as in supply, demand and cost |
Illustrate cause-and-effect relationships between economic variables |
Relate acquired knowledge with macro economics |
WEEKLY COURSE CONTENTS AND STUDY MATERIALS FOR PRELIMINARY & FURTHER STUDY |
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Week | Preparatory | Topics(Subjects) | Method |
1 | - | Introduction to Microeconomics, definitions, concepts | Lecture & Discussion & Case Methods, Interactive Web Tools |
2 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Market Mechanism, Supply and Demand Theory and Market Balance | Lecture & Discussion & Case Methods, Interactive Web Tools |
3 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Obtaining consumer balance according to Cardinal Benefit approach and criticism of this approach. Ordinal Utility Approach and its Characteristics with Indifference Curves | Lecture & Discussion & Case Methods, Interactive Web Tools |
4 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Budget Line and Consumer Balance in Ordinal Utility Approach | Lecture & Discussion & Case Methods, Interactive Web Tools |
5 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Investigation of the Effects of Changes in Goods Prices and Income over Budget and Balance, Demand Function Variables, Movement on Demand Curve and Displacement of Demand Curve | Lecture & Discussion & Case Methods, Interactive Web Tools |
6 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Individual's demand curve, Price elasticity of demand, point elasticity, Private demand curves with various features, Elasticity, Price variations, Consumer expenditures | Lecture & Discussion & Case Methods, Interactive Web Tools |
7 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Cross elasticity, income elasticity, Introduction to production theory | Lecture & Discussion & Case Methods, Interactive Web Tools |
8 | - | MID-TERM EXAM | - |
9 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Review of Lecture | Lecture & Discussion & Case Methods, Interactive Web Tools |
10 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Classification of production factors. Concepts and Laws on Short Run Production Function and Related Concepts and Laws | Lecture & Discussion & Case Methods, Interactive Web Tools |
11 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Long Run production analyses- isoquant curves – isocost line - balance representation (optimal factor composition) | Lecture & Discussion & Case Methods, Interactive Web Tools |
12 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Cost Analyses – Short and Long Run cost curves and description of economies of scale and externality together with related concepts | Lecture & Discussion & Case Methods, Interactive Web Tools |
13 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Supply, Firm Short run supply function, description of profit maximization, elasticity and curves of supply | Lecture & Discussion & Case Methods, Interactive Web Tools |
14 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Supply, Firm Short run supply function, description of profit maximization, elasticity and curves of supply | Lecture & Discussion & Case Methods, Interactive Web Tools |
15 | Reading the related subjects in the course book, following developments, macroeconomic data and markets | Goods markets, full competition market, short and long term balances, types of market intervention and application examples | Lecture & Discussion & Case Methods, Interactive Web Tools |
16 | - | FINAL EXAM | - |
17 | - | FINAL EXAM | - |
SOURCE MATERIALS & RECOMMENDED READING |
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Begg, D., Fischer, S. ve Dornbusch, R. (1991). Microeconomics. 3rd Edition. Berkshire: McGraw-Hill Book Company |
Sloman, J. (2004). Iktisat Mikro. Istanbul: Bilim Teknik Yayıncılık |
Acemoglu, D. (2016). Mikro Iktisat. First Edition. Istanbul: Beta Yayınları |
Dinle, Z. (2017). Mikro Ekonomi. Bursa: Ekin Yayınları |
Unsal, E. (2017). Mikro Iktisat. 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 basic concepts related with banking, insurance and finance.
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5 | |||||
2 |
Relates the theoretical and practical knowledge in the field to economics, business, law, statistics, accounting and marketing
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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 banking and insurance applications to financial theories, mathematical and statistical methods.
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5 | |||||
2 |
Relate the information and facts in the field with other social sciences such as law, sociology, philosophy and history.
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3 |
SKILLS |
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Cognitive |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Explain the planning and implementation process in banking and insurance transactions.
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5 | |||||
2 |
Provide solutions for the problems encountered in banking and insurance transactions.
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5 |
SKILLS |
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Practical |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
Use theoretical and practical knowledge in the field of banking and insurance transactions.
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5 | |||||
2 |
By analyzing economic data accurately, manage savings and portfolio investments to minimize financial risks.
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5 |
OCCUPATIONAL |
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Autonomy & Responsibility |
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Programme Learning Outcomes | Level of Contribution | ||||||
0 | 1 | 2 | 3 | 4 | 5 | ||
1 |
He/She works as a leader or a team member in a teamwork from the planning of the banking transactions to the implementation and performs the task assigned to them within the team.
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5 |
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 |
Gain the basic knowledge necessary for the planning process of banking and insurance activities and human resources performance management.
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4 | |||||
2 |
Use the computer programs related with field in banking and insurance transactions.
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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 |
Cooperate to bring innovative ideas to the stakeholders in the sector using banking insurance-related databases, information and communication technologies.
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4 | |||||
2 |
Research on scientific, sectoral developments and innovations related to the field with lifelong learning as a principle.
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5 |
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 financial data related to his / her field.
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5 | |||||
2 |
Apply knowledge and skills related to his / her field by taking into account his legal, social and ethical responsibilities.
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5 |
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 | 6 | 2 | 12 |
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 | 5 | 2 | 10 |
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 | 5 | 5 | 25 |
Mid-Term Exam | 1 | 1 | 1 |
Preparation for the Mid-Term Exam | 3 | 3 | 9 |
Short Exam | 0 | 0 | 0 |
Preparation for the Short Exam | 0 | 0 | 0 |
TOTAL | 59 | 0 | 148 |
Total Workload of the Course Unit | 148 | ||
Workload (h) / 25.5 | 5,8 | ||
ECTS Credits allocated for the Course Unit | 6,0 |