Course Name | Theory of Microeconomics I |
Code | Semester | Theory (hour/week) | Application/Lab (hour/week) | Local Credits | ECTS |
---|---|---|---|---|---|
ECON 211 | Fall | 3 | 0 | 3 | 6 |
Prerequisites |
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Course Language | English | ||||||||||||||
Course Type | Required | ||||||||||||||
Course Level | First Cycle | ||||||||||||||
Mode of Delivery | - | ||||||||||||||
Teaching Methods and Techniques of the Course | |||||||||||||||
Course Coordinator | - | ||||||||||||||
Course Lecturer(s) | |||||||||||||||
Assistant(s) |
Course Objectives | Microeconomics is the study of how a nation most efficiently allocates its scarce productive resources to satisfy the seemingly unlimited wants and needs of society. It examines how the interactions of consumers and producers in the marketplace determine the prices and outputs of goods and services. Following this brief description, this course will explore both the economic characteristics and behaviors of individual economic units, focusing especially on consumer behavior. |
Learning Outcomes | The students who succeeded in this course;
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Course Description | This course will introduce microeconomic theory and its application at an intermediate level. The theory of the consumer will be explored in detail. Topics covered in this course include budget constraint, preferences, utility, choice, demand, Slutsky equation, buying and selling, consumer surplus, merket demand, and equilibrium. |
| Core Courses | X |
Major Area Courses | ||
Supportive Courses | ||
Media and Managment Skills Courses | ||
Transferable Skill Courses |
Week | Subjects | Required Materials |
1 | Preliminaries | Varian, Hal, Intermediate Microeconomics, Chapter 1 (W. W. Norton & Company, 7th edition) |
2 | Budget Constraint | Varian, Hal, Intermediate Microeconomics, Chapter 2 (W. W. Norton & Company, 7th edition) |
3 | Preferences | Varian, Hal, Intermediate Microeconomics, Chapter 3 (W. W. Norton & Company, 7th edition) |
4 | Preferences | Varian, Hal, Intermediate Microeconomics, Chapter 3 (W. W. Norton & Company, 7th edition) |
5 | Utility | Varian, Hal, Intermediate Microeconomics, Chapter 4 (W. W. Norton & Company, 7th edition) |
6 | Choice | Varian, Hal, Intermediate Microeconomics, Chapter 5 (W. W. Norton & Company, 7th edition) |
7 | Midterm 1 | |
8 | Demand | Varian, Hal, Intermediate Microeconomics, Chapter 6 (W. W. Norton & Company, 7th edition) |
9 | Slutsky Equation | Varian, Hal, Intermediate Microeconomics, Chapter 8 (W. W. Norton & Company, 7th edition) |
10 | Revealed Preference | Varian, Hal, Intermediate Microeconomics, Chapter 7 (W. W. Norton & Company, 7th edition) |
11 | Buying and Selling | Varian, Hal, Intermediate Microeconomics, Chapter 19 (W. W. Norton & Company, 7th edition) |
12 | Midterm 2 | |
13 | Consumer's Surplus | Varian, Hal, Intermediate Microeconomics, Chapter 14 (W. W. Norton & Company, 7th edition) |
14 | Market Demand | Varian, Hal, Intermediate Microeconomics, Chapter 15 (W. W. Norton & Company, 7th edition) |
15 | Equilibrium | Varian, Hal, Intermediate Microeconomics, Chapter 16 (W. W. Norton & Company, 7th edition) |
16 | Midterm 3 |
Course Notes/Textbooks | Varian, Hal, Intermediate Microeconomics, W. W. Norton & Company, 8th edition, 2010 |
Suggested Readings/Materials |
Semester Activities | Number | Weigthing |
Participation | 1 | |
Laboratory / Application | ||
Field Work | ||
Quizzes / Studio Critiques | 3 | 15 |
Portfolio | ||
Homework / Assignments | ||
Presentation / Jury | ||
Project | ||
Seminar / Workshop | ||
Oral Exam | ||
Midterm | 1 | 35 |
Final Exam | 50 | |
Total |
Weighting of Semester Activities on the Final Grade | ||
Weighting of End-of-Semester Activities on the Final Grade | ||
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 | 2 | 32 |
Field Work | |||
Quizzes / Studio Critiques | 3 | 10 | |
Portfolio | |||
Homework / Assignments | |||
Presentation / Jury | |||
Project | |||
Seminar / Workshop | |||
Oral Exam | |||
Midterms | 1 | 30 | |
Final Exams | 40 | ||
Total | 140 |
# | Program Competencies/Outcomes | * Contribution Level | ||||
1 | 2 | 3 | 4 | 5 | ||
1 | To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field. | X | ||||
2 | To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies. | |||||
3 | To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently. | |||||
4 | To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals. | |||||
5 | To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires. | |||||
6 | To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically. | |||||
7 | To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output. | X | ||||
8 | To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society. | X | ||||
9 | To be able to take the responsibility as an individual and as a team member. | |||||
10 | To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis. | X | ||||
11 | To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1) | |||||
12 | To be able to speak a second foreign at a medium level of fluency efficiently. | |||||
13 | To be able to relate the knowledge accumulated throughout human history to their field of economics. |
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest