| Learning Outcomes |
At the end of this course, the students;
- Become familiar with economic meaning of mathematical expressions in economic models used in economics, understands exogeneous variables, endogeneous variables, constants, coefficients and parametric constants in economic models, understands the meaning of definitional equation, structural equations, behavioral equations and equilibrium conditions used in economic models, understands the meaning of systems of linear equations and general equilibrium.
- Become familiar with meaning and implementation of methods used in economic models, understands the equilibrium analysis in economics,
the static stability of equilibrium, the static analysis, the comparative static analysis, the dynamic analysis, the restricted and unrestricted optimization analysis.
- Become familiar with investigation using economic models for various markets. Understands the static partial market equilibrium model, the comparative static analysis in markets, the dynamic partial market equilibrium model.
- Become familiar with the use of various economic models. For example, understands the Cobweb Model, Inventory Model and National-Income Models,
the decision rules in Firm Theory and Consumer Behavior Theory for short-run and long-run,
the behavior of perfectly competitive and monopolistically competitive firms in the competition of many firms, the behavior of duopolistic and oligopolistic competitive firms in the competition of many firms, the behavior of monopolistic and monopsonistic firms.
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