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

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Average	3 Highest

Program Outcomes

Level of Contribution

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