Industrial Engineering

Microeconomics(CNT342)

Content
Course Code Course Name Semester Theory Practice Lab Credit ECTS
CNT342 Microeconomics 5 2 0 0 2 2
Prerequisites
Admission Requirements
Language of Instruction
Course Type Elective
Course Level Bachelor Degree
Course Instructor(s) Abdullah Çağrı TOLGA ctolga@gsu.edu.tr (Email)
Assistant
Objective The field of economy stated in the industrial engineering definition has to be known with all aspects. In this course concepts of economy will be examined by all sides of the market. The economy is simply an abstraction referring to the grand sum of all our production and consumption activities. What we collectively produce is what the economy produces; what we collectively consume is what the economy consumes. Learning these concepts will be useful in the planning and determination of constraints stage.
In this context, the objectives of this course are determined as follows:
• To understand the consumer behavior,
• To understand the firm behavior,
• To analyze different types of market structures (monopoly, oligopoly and a competitive market),
• To understand how to apply economic principles to a range of policy questions.
Content 1. Week: Introduction: The fundamental problems of economic organization, Markets and government in a modern economy
2. Week: The Basics of Supply and Demand
3. Week: Consumer Behavior
4. Week: Individual and Market Demand
5. Week: Uncertainty and Consumer Behavior
6. Week: Production
7. Week: The Cost of Production
8. Week: Profit Maximization and Competitive Supply
9. Week: The Analysis of Competitive Markets
10. Week: Market Power: Monopoly and Monopsony
11. Week: Pricing with Market Power
12. Week: Monopolistic Competition and Oligopoly
13. Week: Game Theory and Competitive Strategy
14. Week: Markets for Factor Inputs
Course Learning Outcomes Students who complete this course;
1. Use supply and demand diagrams to analyze the impact of overall changes in supply and demand on price and quantity,
2. Solve a consumer’s utility maximization problem mathematically and graphically, analyze the impact of changes in price and income on a consumer’s decision via shifting income and substitution effects,
3. Understand the consumer’s labor supply decision,
4. Analyze the behavior of firms in a perfectly competitive market in the short-run and the long-run,
5. Calculate the producer and consumer surplus,
6. Analyze the behavior of firms in a monopoly or oligopoly, and calculate the resulting changes in producer or consumer surplus,
7. Understand consumer behavior under uncertainty,
8. Use the economic tools to analyze economic policies.
Teaching and Learning Methods Explaining with slides.
References • Pindyck, R. S., Rubinfeld, D. L., Micro-économie, 2013, Paris.
• Pucci, M., Valentin, J., Microéconomie La concurrence parfaite, Presses Universitaires de France, 2009, Paris.
Print the course contents
Weekly Contents
Theory Topics
Week Weekly Contents
1 Introduction: The fundamental problems of economic organization, Markets and government in a modern economy
2 The Basics of Supply and Demand
3 Consumer Behavior
4 Individual and Market Demand
5 Uncertainty and Consumer Behavior
6 Production
7 The Cost of Production
8 Profit Maximization and Competitive Supply
9 The Analysis of Competitive Markets
10 Market Power: Monopoly and Monopsony
11 Pricing with Market Power
12 Monopolistic Competition and Oligopoly
13 Game Theory and Competitive Strategy
14 Markets for Factor Inputs
Practice Topics
Week Weekly Contents
Assessment System
Contribution to Overall Grade
  Number Contribution
Contribution of in-term studies to overall grade 1 45
Contribution of final exam to overall grade 1 55
Toplam 2 100
In-Term Studies
  Number Contribution
Assignments 0 0
Presentation 0 0
Midterm Examinations (including preparation) 0 0
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 0 0
Relation of Proficiency
No Program Learning Outcomes Contribution
1 2 3 4 5
1 Knowledge and understanding of a wide range of basic sciences (math, physics, ...) and the main concepts of engineering
2 Ability to combine the knowledge and skills to solve engineering problems and provide reliable solutions X
3 Ability to select and apply methods of analysis and modeling to ask, reformulate and solve the complex problems of industrial engineering
4 Ability to conceptualize complex systems, processes or products under practical constraints to improve their performance, ability to use innovative methods of design
5 Ability to design, select and apply methods and tools needed to solve problems related to the practice of industrial engineering, ability to use computer technology X
6 Ability to design experiments, collect and interpret data and analyze results
7 Ability to work independently, ability to participate in working groups and have a multidisciplinary team spirit
8 Ability to communicate effectively, ability to speak at least two foreign languages
9 Awareness of the need for continuous improvement of lifelong learning, ability to keep abreast of scientific and technological developments to use the tools of information management
10 Awareness of professional and ethical responsibility
11 Knowledge of the concepts of professional life as "project management", "risk management" and "management of change"
12 Knowledge on entrepreneurship, innovation and sustainability
13 Understanding of the effects of Industrial Engineering applications on global and social health, environment and safety.
14 Knowledge of the problems of contemporary society X
15 Knowledge of the legal implications of the practice of industrial engineering
ECTS
Activities Number Period Total Workload
Class Hours 14 2 28
Working Hours out of Class 13 1 13
Midterm Examinations (including preparation) 1 7 7
Final Examinations (including preparation) 1 13 13
Total Workload 61
Total Workload / 25 2,44
Credits ECTS 2
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