Microeconomics I (ECON201) | GSÜ - ECTS Information Guide

Content

Objective

Analysis of the consumer and firm behavior and production and distribution process of the societies. Decision making of the consumers and firms as well as their interactions and outcomes will be analyzed at the introductory level

Course Content

Consumer theory and demand analysis; producer theory, cost minimization and profit maximization; short term and long term supply analysis; competititve market equilibrium

Course Learning Outcomes

On the completion of the course students are expected to:
1. Analyze the consumer behavior and derive the demand relations
2. Analyze the firm behavior at the competitive markets
3. Use short and long term analysis of supply
4.Analyze the market equilibrium.

Teaching and Learning Methods

Formal lecture and recitation

References

Thomas Necyhba, Cengage Learning, Microeconomics: An Intuitive Approach with Calculus
Pierre Picard, Montchrestien, Eléments de micro-économie

Weekly Contents

Theory Topics
Week	Weekly Contents
1	Introduction, microeconomic problem
2	Consumer's economic circumstances, budget constraint
3	Tastes and indifference curves
4	Different types of tastes, elasticity of substitution and utility functions
5	Optimizing choice of consumer
6	Income and substitution effects
7	Demand functions
8	Producer theory, short run firm behavior
9	Multiple inputs and production
10	Cost minimization, profit maximization and duality
11	Short and long run production and supply
12	Competitive equilibrium
13	Efficiency of the market
14	Synthesis

Assessment System

Contribution to Overall Grade
Activities	Number	Contribution
Contribution of in-term studies to overall grade	2	60
Contribution of final exam to overall grade	1	40
Total	3	100

In-Term Studies
Activities	Number	Contribution
Assignments	0	0
Presentation	0	0
Midterm Examinations (including preparation)	2	60
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
Total	2	60

Relation of Proficiency

No	Program Learning Outcomes	Contribution
No	Program Learning Outcomes	1	2	3	4	5
1	Demonstrate a basic knowledge of different economic theories and main discussions driving current theoretical approaches				X
2	Demonstrate ability to use basic qualitative and quantitative methods to asses different economic questions of applied fields
3	Show a sound understanding of current economic discussions and problems				X
4	Have an effective and clear communication in written and oral formats in different public and professional contexts.
5	Demonstrate basic knowledge of the world economic history and a sound knowledge of the Turkish economic history
7	Demonstrate knowledge of standard quantitative techniques and empirical models used in economics
8	Show ability to apply basic economic theory to an applied topic
9	Show a basic understanding of analytical methods, both theory- and model-based				X
10	Show ability to use economic concepts to discuss current economic issues				X
11	Reason logically and work analytically
12	Show awareness on social aspects of the economics in different applied and theoretical fields
13	Identify appropriate economic models to analyse problems
16	Show understanding of basic statistical and econometric concepts and ability to apply basic concepts to own empirical work
17	Demonstrate a sound knowledge of the current economic issues in Turkey and a general knowledge of the issues in the world economy

ECTS

Activities	Number	Period	Total Workload
Class Hours	14	5	70
Working Hours out of Class	10	3	30
Midterm Examinations (including preparation)	2	15	30
Final Examinations (including preparation)	1	20	20
Total Workload			150
Total Workload / 25			6.00
Credits ECTS			6