TYPE OF COURSE UNIT	Compulsory Course
LEVEL OF COURSE UNIT	Bachelor's Degree
YEAR OF STUDY	1
SEMESTER	First Term (Fall)
NUMBER OF ECTS CREDITS ALLOCATED	6
NAME OF LECTURER(S)	Instructor Zeynep Yener Gök
LEARNING OUTCOMES OF THE COURSE UNIT	At the end of this course, the students; 1) Understand basic microeconomic concepts and how prices are formed in the market. 2) Understand microeconomic concepts such as demand, supply, utility, externalities, public goods, and regulation. 3) Understand how microeconomic equilibrium is achieved through supply, and demand. 4) Understand operations of different types of markets. 5) Understand how monopolistic, oligopolistic, and perfectly competitive markets work. 6) Understand the effects of the government's intervention in the market. 7) Understand how market failures are solved.
MODE OF DELIVERY	Face to face
PRE-REQUISITES OF THE COURSE	No
RECOMMENDED OPTIONAL PROGRAMME COMPONENT	No
COURSE DEFINITION	Subject matter, content, and methods of economics; demand, supply and price; consumer behavior; income distribution; externalities; public goods will be covered with examples from Turkey.
COURSE CONTENTS	WEEK TOPICS 1st Week Basic Concepts: Observing and Explaining the Economy, Scarcity, Choice and Economic Interaction 2nd Week The Supply and Demand Model 3rd Week Elasticity and Its Uses 4th Week The Demand Curve and the Behavior of Consumers 5th Week The Supply Curve and the Behavior of Firms 6th Week The Interaction of People in Markets 7th Week Costs and Evolution of Firms over Time, The Rise and Fall of the Industries 8th Week Midterm 9th Week Monopoly 10th Week Product Differentiation, Monopolistic Competition, and Oligopoly, Antitrust Policy and Regulation 11th Week Labor Markets 12th Week Taxes, Transfers, and Income Distribution 13th Week Public Goods, Externalities and Government Behavior 14th Week Physical Capital and Financial Markets
RECOMENDED OR REQUIRED READING	John B. Taylor, Economics, 4th ed. New York: Houghton Mifflin, 2003.
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS	Lecture,Discussion,Problem Solving,Questions/Answers
ASSESSMENT METHODS AND CRITERIA	Quantity Percentage(%) Mid-term 1 40 Quiz 1 10 Total(%) 50 Contribution of In-term Studies to Overall Grade(%) 50 Contribution of Final Examination to Overall Grade(%) 50 Total(%) 100
ECTS WORKLOAD	Activities Number Hours Workload Midterm exam 1 2 2 Preparation for Quiz Individual or group work 14 2 28 Preparation for Final exam 1 50 50 Course hours 14 3 42 Preparation for Midterm exam 1 45 45 Laboratory (including preparation) Final exam 1 2 2 Homework Quiz 1 15 15 Total Workload 184 Total Workload / 30 6,13 ECTS Credits of the Course 6
LANGUAGE OF INSTRUCTION	English
WORK PLACEMENT(S)	No