| Course Name | Microeconomic Theory I |
| Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
|---|---|---|---|---|---|
| ECON 601 | Fall/Spring | 3 | 0 | 3 | 7.5 |
| Prerequisites | None | |||||
| Course Language | English | |||||
| Course Type | Elective | |||||
| Course Level | Third Cycle | |||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | - | |||||
| 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;
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| Course Description | 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. |
| Related Sustainable Development Goals | |
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| Core Courses | X |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Managment Skills Courses | ||
| Transferable Skill Courses |
| Week | Subjects | Required Materials |
| 1 | Introduction | |
| 2 | Profit Maximization | Varian, Chp 2 |
| 3 | Profit Function | Varian, Chp 3 |
| 4 | Cost Minimization | Varian, Chp 4 |
| 5 | Cost Function | Varian, Chp 5 |
| 6 | Midterm Exam | |
| 7 | Utility Maximization | Varian, Chp 7 |
| 8 | Choice | Varian, Chp 8 |
| 9 | Demand | Varian, Chp 9 |
| 10 | Competitive Markets | Varian, Chp 13 |
| 11 | Midterm | |
| 12 | Monopoly | Varian, Chp 14 |
| 13 | Presentations | |
| 14 | Final | |
| 15 | Review of the Semester | |
| 16 | Review of the Semester |
| Course Notes/Textbooks | Microeconomic Analysis Third Edition, by Hal R. Varian, W.W. Norton and Company, 1992 |
| Suggested Readings/Materials | 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). |
| Semester Activities | Number | Weighting |
| Participation | 16 | 10 |
| Laboratory / Application | ||
| Field Work | ||
| Quizzes / Studio Critiques | ||
| Portfolio | ||
| Homework / Assignments | 1 | 20 |
| Presentation / Jury | ||
| Project | ||
| Seminar / Workshop | ||
| Oral Exam | ||
| Midterm | 2 | 40 |
| Final Exam | 1 | 30 |
| Total |
| Weighting of Semester Activities on the Final Grade | 70 | |
| Weighting of End-of-Semester Activities on the Final Grade | 30 | |
| Total |
| Semester 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 | 16 | 4 | 64 |
| Field Work | |||
| Quizzes / Studio Critiques | |||
| Portfolio | |||
| Homework / Assignments | 1 | 15 | |
| Presentation / Jury | |||
| Project | |||
| Seminar / Workshop | |||
| Oral Exam | |||
| Midterms | 2 | 30 | |
| Final Exams | 1 | 30 | |
| Total | 217 |
| # | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
| 1 | To be able to master existing theoretical knowledge in their specialized area of business administration. | |||||
| 2 | To be able to gain in-depth knowledge of research methodologies and design. | |||||
| 3 | To be able to acquire advanced knowledge of data collection and analysis techniques. | |||||
| 4 | To be able to design and conduct original research with a scholarly theoretical emphasis. | |||||
| 5 | To be able to disseminate scholarly knowledge in well-known academic networks. | |||||
| 6 | To be able to demonstrate the ability to communicate the results of their research in a clear and effective manner with various audiences. | |||||
| 7 | To be able to have concerns for the high ethical standards in research, and teaching. | |||||
| 8 | To be able to adopt critical attitude toward the extant literature and practice in the specialized area of business administration. | |||||
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
