Describe how microeconomic equilibrium is achieved through supply and demand.
Explain basics of consumer and producer behavior.
Explain the effects of the government intervention to the market.
Compare the operation of monopoly, oligopoly and perfectly competitive markets.
Mode of Delivery
Face to face
Prerequisites
No
Recommended Optional Programme Components
Course Description
The main aim of this course is to examine the allocation of resources and price formation in the free markets. The behaviors of the decision-making units that determine the price formation in an economy, namely the producers and consumers, and the concepts such as supply, demand, cost, production and profit will be studied in detail.
Course Contents
WEEK
TOPICS
1st Week
Basic Principles
2nd Week
Economic Models: Trade-offs and Trade
3rd Week
Supply and Demand
4th Week
Consumer and Producer Surplus
5th Week
The Market Strikes Back
6th Week
Elasticity
7th Week
Midterm
8th Week
Taxes
9th Week
The Rational Consumer
10th Week
Inputs and Costs
11th Week
Perfect Competition and The Supply Curve
12th Week
Monopoly
13th Week
Oligopoly
14th Week
Externalities
Recommended or Required Reading
Paul Krugman ve Robin Wells, Mikro İktisat. 2. Baskıdan Çeviri. Ankara: Palme Yayıncılık, 2012
Anthony Patrick O'Brien ve R. Glenn Hubbard. 6. Baskıdan Çeviri. Ankara: Palme Yayıncılık, 2017
Planned Learning Activities and Teaching Methods
Lecture
Discussion
Assessment Methods and Criteria
Quantity
Percentage (%)
Mid-term
1
35
Quiz
2
20
Total(%)
55
Contribution of In-term Studies to Overall Grade(%)
55
Contribution of Final Examination to Overall Grade(%)
