Economics (English) Preview
Bachelor	TR-NQF-HE: Level 6	QF-EHEA: First Cycle	EQF-LLL: Level 6

Course Introduction and Application Information

Course Code:

ECO201

Course Name:

Microeconomics 1

Semester:

Fall

Course Credits:

ECTS

Language of instruction:

English

Course Condition:

Does the Course Require Work Experience?:

Type of course:

Compulsory Courses

Course Level:

Bachelor

TR-NQF-HE:6. Master`s Degree

QF-EHEA:First Cycle

EQF-LLL:6. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator:

Doç. Dr. AYFER USTABAŞ

Course Lecturer(s):

Doç. Dr. AYFER USTABAŞ

Course Assistants:

Course Objective and Content

Course Objectives:

1. Teaching the microeconomic theory with practical examples reflecting daily life at the international standart,
2. Teaching microeconomic analysis methods,
3. Explaining utility maximization and choice theory,
4. Explaining the theoretical foundation and the practical applications of consumption preferences based on utility maximization,
5. Examining the firm theory through practical applications within the scope of profit maximization and cost minimization,
6. Examining supply and demand equilibrium in terms of partial and general equilibrium under perfectly competitive market assumptions for short and long-terms.

Course Content:

Consumer Theory, Producer Theory, Utility Maximization, Profit Maximization, Cost Minimization, Supply and Demand Dynamics, Partial and General Equilibrium under Perfect Competition.

Learning Outcomes

The students who have succeeded in this course;
1) Have an ability of understanding microeconomics and applying it to their daily life.
2) Have a capacity of using microeconomic analysis.
3) Learn how to maximize utility while choosing.
4) Interpret consumer and firm behavior theoretically and practically.
5) Comprehend supply-demand equilibrium and price determination in competitive markets in the short- and the long-run.

Course Flow Plan

Week	Subject	Related Preparation
1)	Markets and Prices
2)	Markets and Prices
3)	Basics of Supply and Demand
4)	Basics of Supply and Demand
5)	Consumer Behavior
6)	Consumer Behavior
7)	MIDTERM
8)	Demand Theory
9)	Production
10)	Production
11)	Cost of Production
12)	Cost of Production
13)	Profit Maximization and Competition
14)	Profit Maximization and Competition

Sources

Course Notes / Textbooks:	Principles of Microeconomics - N. Gregory Mankiw
References:	Lecture Notes

Course - Program Learning Outcome Relationship

Course Learning Outcomes	1	2	3	4	5
Program Outcomes
1) They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics.	3	3	3	3	3
2) They have knowledge and skill about different functions and interactions of economy.	3	3	3	3	3
3) They use different theoretical approaches to comprehend and solve various economic problems.	3	3	3	3	3
4) They are aware of the needs of society and use their knowledge of economics to meet these needs.	3	3	3	3	3
5) They have in-depth knowledge on the current issues of the Turkish economy and the global economy.	1	1	1	1	1
6) They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy.	2	2	2	2	2
7) Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively.	2	2	2	2	2
8) They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education.	2	2	2	2	2
9) They improve their skills of teamwork, negotiation, leadership and entrepreneurship.	2	2	2	2	2
10) They have universal ethical values, social responsibility awareness and adequate knowledge of business law.	3	3	3	3	3
11) Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them.	3	3	3	3	3
12) They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms.	2	2	2	2	2
13) They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License .	2	2	2	2	2

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Average	3 Highest

	Program Outcomes	Level of Contribution
1)	They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics.	3
2)	They have knowledge and skill about different functions and interactions of economy.	3
3)	They use different theoretical approaches to comprehend and solve various economic problems.	3
4)	They are aware of the needs of society and use their knowledge of economics to meet these needs.	3
5)	They have in-depth knowledge on the current issues of the Turkish economy and the global economy.	1
6)	They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy.	2
7)	Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively.	2
8)	They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education.	3
9)	They improve their skills of teamwork, negotiation, leadership and entrepreneurship.	2
10)	They have universal ethical values, social responsibility awareness and adequate knowledge of business law.	2
11)	Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them.	3
12)	They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms.	3
13)	They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License .	2

Assessment & Grading

Semester Requirements	Number of Activities	Level of Contribution
Quizzes	2	% 20
Midterms	1	% 30
Final	1	% 50
total		% 100
PERCENTAGE OF SEMESTER WORK		% 50
PERCENTAGE OF FINAL WORK		% 50
total		% 100

Workload and ECTS Credit Calculation

Activities	Number of Activities	Workload
Course Hours	14	42
Study Hours Out of Class	14	28
Quizzes	8	14
Midterms	8	15
Final	14	28
Total Workload		127