Microeconomics II(ECK 556)
| Course Code | Course Name | Semester | Theory | Practice | Lab | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| ECK 556 | Microeconomics II | 2 | 3 | 0 | 0 | 3 | 6 |
| Prerequisites | |
| Admission Requirements |
| Language of Instruction | Turkish |
| Course Type | Compulsory |
| Course Level | Masters Degree |
| Course Instructor(s) | Bilge ÖZTÜRK GÖKTUNA goktunabilge@gmail.com (Email) |
| Assistant | |
| Objective | to comprehend the theories that explain the consumer and the producer behaviour |
| Content | the course covers an extension of the subjects covered in Microeconomics I. Inspects (at the intermediate level ) theories that explain the consumer and producer behaviour. for the former, the course covers the consumer choice first in a dynamic setup and then under uncertainty. for the latter, the course covers the producer choice first under monopoly and then under duopoly. Finally, it provides a synthesis of the consumer and the producer behaviour by analyzing walrasian general equilibrium models. |
| Course Learning Outcomes |
be able to compute equilibrium interest rates comprehend the relation between consumption profile and interest rates be able to compute insurance demand have a knowledge of different types of market sturctures with imperfect competition be ablle to determine the producer equilibrium under imperfect competition |
| Teaching and Learning Methods |
teacher-focused theoretical sessions (3 h per week) for the problem sessions, problem sets and questions are distributed to students at the beggining of the term. Active participation by students is obligatory for the problem sessions. |
| References |
H. Varian Introduction to microeconomics (french version also available) Picard P. les éléments de microéconomie |
Theory Topics
| Week | Weekly Contents |
|---|---|
| 1 | Consumer theory: summary of the previous term |
| 2 | intertemporal consumer choice |
| 3 | interest rate-consumption relation, income effect, substitution effect |
| 4 | comsumer choice under uncertainty |
| 5 | insurance demand |
| 6 | optimal insurance rate and moral hazard |
| 7 | market structures with imperfect competition |
| 8 | producer equilibrium under private monopoly |
| 9 | deadweight loss of private monoply, public monopoly, price discrimination |
| 10 | duopoly types |
| 11 | price and quantity underCournot duopoly |
| 12 | price and quantity under Stackelberg |
| 13 | price and quantity under Bertrand duopoly |
| 14 | revision session |
Practice Topics
| Week | Weekly Contents |
|---|---|
| 1 | no problem session |
| 2 | exercises on the relation consumption-interest rate |
| 3 | computations on equilibrium consumption and interest rate |
| 4 | exam 1 |
| 5 | questions on uncertainty |
| 6 | problem set on insurance demand |
| 7 | examples of risk diversification |
| 8 | exam 2 |
| 9 | problem set on monopoly behaviour |
| 10 | comparison of private and public monopoly |
| 11 | exam 3 |
| 12 | problem set on Cournot and Stackelberg behaviour |
| 13 | problem set on Bertrand duopoly |
| 14 | revision |
Contribution to Overall Grade
| Number | Contribution | |
|---|---|---|
| Contribution of in-term studies to overall grade | 3 | 50 |
| Contribution of final exam to overall grade | 1 | 50 |
| Toplam | 4 | 100 |
In-Term Studies
| Number | Contribution | |
|---|---|---|
| Assignments | 0 | 0 |
| Presentation | 0 | 0 |
| Midterm Examinations (including preparation) | 3 | 50 |
| Project | 0 | 0 |
| Laboratory | 0 | 0 |
| Other Applications | 0 | 0 |
| Quiz | 0 | 0 |
| Term Paper/ Project | 0 | 0 |
| Portfolio Study | 0 | 0 |
| Reports | 0 | 0 |
| Learning Diary | 0 | 0 |
| Thesis/ Project | 0 | 0 |
| Seminar | 0 | 0 |
| Other | 0 | 0 |
| Toplam | 3 | 50 |
| No | Program Learning Outcomes | Contribution | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| Activities | Number | Period | Total Workload |
|---|---|---|---|
| Class Hours | 14 | 5 | 70 |
| Working Hours out of Class | 14 | 2 | 28 |
| Midterm Examinations (including preparation) | 3 | 7 | 21 |
| Final Examinations (including preparation) | 1 | 17 | 17 |
| Total Workload | 136 | ||
| Total Workload / 25 | 5,44 | ||
| Credits ECTS | 5 | ||