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| IKT1000 | Microeconomics | 3+0+0 | ECTS:6 | | Year / Semester | Spring Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of LABOR ECONOMICS and INDUSTRIAL RELATIONS | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Doç. Dr. Umut ÜZAR | | Co-Lecturer | Asst. Prof. Osman Murat TELATAR | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | The aim of this course is to develop skills of the students in understanding and analyzing undergraduate topics on microeconomics |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | learn the terminology of microeconomics. | 1,2 | | | LO - 2 : | apply the theory of maximizing agents to firms and consumer. | 1,2 | | | LO - 3 : | use several solution techniques for microeconomics problems. | 1,2 | | | LO - 4 : | integrate economic models with real world applications. | 1,2 | | | LO - 5 : | understand how markets operate and identify welfare outcomes for consumer and firms. | 1,2 | | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), LO : Learning Outcome | | |
| Production function and law of diminishing returns, producer equilibrium, changes in equilibrium, costs of production, equilibrium in perfect competition, monopoly, monopsony, oligopoly, monopolistic competition, and the other markets, the market for the factors of production, welfare economic and general equilibrium, externalities and public goods |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Costs, concepts of cost, distinction between the short and the long run, cost curves, shifts in cost curves | | | Week 2 | Firms in perfect competition market, market structure, marginal revenue, average revenue, total revenue, short-run equilibrium of the firm and industry, short-run supply curve of firm and industry | | | Week 3 | Firms in perfect competition market, long-run equilibrium of the firm, constant-cost industries, increasing and decreasing cost endustries, long-run supply elasticity | | | Week 4 | Monopoly, causes of monopoly, monopolist's demand curve, monopolist's revenues, short-run equilibrium, long-run equilibrium | | | Week 5 | Monopoly, price discrimination, regulation of monopolies, comparison of monopoly with perfect competition | | | Week 6 | Oligopoly, definition, causes, classification, the Cournot model, the Edgeworth model, the Chamberlin model, the Swezzy model, the kinked demand curve | | | Week 7 | Oligopoly, the Bertrand model, the Stackelberg model, the theory of games, price leadership, entry by new firms | | | Week 8 | Monopolistic competition, definition, demand curves under monopolistic competition, equilibrium in the short-run,equilibrium in the long-run, comparison of monopolistic competition with perfect competition, comparison of monopolistic competition with monopoly | | | Week 9 | Mid-term exam | | | Week 10 | The market for the factors of production, demand for factor under perfect competition, demand for factor umder imperfect competition, price elasticity of factor demand | | | Week 11 | The market for the factors of production, factor-market equilibrium, concept of rent, quasi rents, wage differentials | | | Week 12 | Welfare economics and general equilibrium,optimal resource use,necessary conditions for optimal resource allocation,the Edgeworth Box,Pareto effient allocation,contract curve,the theory of the second best, quiz
| | | Week 13 | Welfare economics and general equilibrium, perfect competition and economic efficiency | | | Week 14 | Uncertainty and asymmetric information, risk aversion, methods for reducing risk, information and market equilibrium,information and economic efficiency
| | | Week 15 | Externalities and public goods, defining externalities, externalities and allocational efficiency, bargaining and the Coase theorem, public goods, public goods and market failure | | | Week 16 | End-of-term exam | | | |
| 1 | Ünsal, E.M. 2020; Mikro İktisat, Murat Yayıncılık, 11.Baskı, Ankara | | | 2 | Dinler, Z. 2020; Mikro İktisat, Ekin Kitabevi, 30. Baskı, Bursa | | | 3 | Yalta, A. Y. ve Yalta A.T. 2021; Genişletilmiş 4. Baskı, Modern Mikro Ekonomiye Giriş, Adres Yayınları, Ankara | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 16/04/2022 | 1 | 50 | | End-of-term exam | 16 | 06/06/2022 | 1 | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 3 | 14 | 42 | | Sınıf dışı çalışma | 6 | 14 | 84 | | Arasınav için hazırlık | 11 | 2 | 22 | | Arasınav | 1 | 1 | 1 | | Dönem sonu sınavı için hazırlık | 10 | 3 | 30 | | Dönem sonu sınavı | 1 | 1 | 1 | | Total work load | | | 180 |
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