COURSE INTRODUCTION AND APPLICATION INFORMATION


Course Name
Microeconomic Theory I
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 601
Fall
3
0
3
10
Prerequisites
None
Course Language
English
Course Type
Required
Course Level
Third Cycle
Course Coordinator -
Course Lecturer(s) -
Assistant(s) -
Course Objectives The aim of this course is to form the first part of the graduate level base for microeconomic theory, which includes individual and aggregate decision modelling, general equilibrium models and welfare issues.
Learning Outcomes The students who succeeded in this course;
  • will be able to contribute to microeconomıc theory literature.
  • will be able to construct models of social dynamics.
  • will be able to use mathematical methods to formalize economic concepts and ideas.
  • will be able to model individual choice under certainty and uncertainty.
  • will be able to compare different choice mechanism of social choice.
Course Content The course starts with individual agent’s problem focusing on rational choice, demand, consumer surplus followed by decision under uncertainty. We then study social decision, focusing on Arrow’s impossibility theorem. The course will continue with detailed examination of general equilibrium models, asset markets and welfare analysis.

 



Course Category

Core Courses
Major Area Courses
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction
2 Utility Maximization and Choice Varian, Chp 7,8; Mas Colell Chp 1,2
3 Demand and Consumers’ Surplus Varian Chp 9,10; Mas Colell Chp 3
4 Independent Study
5 Uncertainty and Exchange Varian Chp 11, 17
6 Asset Markets and Equilibrium Analysis Varian Chp 19, 20 and 21
7 Independent Study
8 Game Theory Varian Chp 15
9 Oligopoly Varian Chp 16
10 Independent Study
11 Profit Maximization and Profit Function Varian Chp 2,3
12 Cost Minimization and Cost Function Varian Chp 4,5
13 Review of the Semester  
14 Review of the Semester  
15 Review of the Semester  
16 Review of the Semester  
Course Textbooks Microeconomic Analysis Third Edition, by Hal R. Varian, W.W. Norton and Company, 1992
References Andreu MasColell, Michael D. Whinston, Jerry R. Green, Microeconomic Theory , Oxford University Press (1995); David M. Kreps, A Course in Microeconomic Theory, Princeton University Press (1990).

 

EVALUATION SYSTEM

Semester Requirements Number Percentage
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Midterms / Oral Exams
4
100
Final / Oral Exam
Total

Contribution of Semester Work to Final Grade
100
Contribution of Final Work to Final Grade
Total

ECTS / WORKLOAD TABLE

Activities Number Duration (Hours) Workload
Course Hours
Including exam week: 16 x total hours
16
3
48
Laboratory / Application Hours
Including exam week: 16 x total hours
16
Study Hours Out of Class
Field Work
Quizzes / Studio Critiques
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Midterms / Oral Exams
4
25
Final / Oral Exam
    Total
148

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Qualifications / Outcomes
* Level of Contribution
1
2
3
4
5
1 Developing scientific expertise and capabilities in the field of finance through using creative and critical thinking and research skills; innovatively contribute to the discipline by new ideas and definitions based on the graduate level qualifications.
2 Comprehending the interaction across various disciplines related to the field of finance, reaching at original conclusions by using new and complex analysis, synthesis and evaluation skills.
3 Developing and championing new approaches to contribute the field of finance through apprehending the research methods.
4 Contributing to the science of finance through developing new methods or implementing an existing method to a different field through investigating, comprehending, designing original topics.
5 Conducting independent research, analyzing scientific phenomenon through broad, deep and critical perspective, arriving at new syntheses and evaluations in the discipline of finance.
6 Publishing scientific articles in reputable refereed national and international journals, presenting papers in scientific conferences in the field of finance and its sub-disciplines.
7 Following, attending and organizing national and international events such as conferences, seminars and panels to keep up with developments and create new solutions to the problems in the field of finance.
8 Following pioneering and innovative theories and methods in the field of finance and implementing them in analysis and research.
9 Developing creative solutions to the social, scientific and ethical issues within the scope of finance and business life and extending values that supports these solutions.
10 Being able to use English fluently for both comprehending and publishing scientific publications and developing proper communication.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 

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