TYPE OF COURSE UNIT	Compulsory Course
LEVEL OF COURSE UNIT	Bachelor's Degree
YEAR OF STUDY	2
SEMESTER	Third Term (Fall)
NUMBER OF ECTS CREDITS ALLOCATED	5
NAME OF LECTURER(S)	Professor Uğur Emek
LEARNING OUTCOMES OF THE COURSE UNIT	At the end of this course, the students; 1) Analyses basic supply and demand relations with formal models 2) Discusses the operation of different markets 3) Analytically examine market failures and their solutions
MODE OF DELIVERY	Face to face
PRE-REQUISITES OF THE COURSE	No
RECOMMENDED OPTIONAL PROGRAMME COMPONENT	ECON101
COURSE DEFINITION	This course presents the basic analytical tools of microeconomics. It describes decision making process of individuals and how these decisions are optimized by using consumer and firm theory. Then how competitive markets function and what happens after government interventions are analysed.
COURSE CONTENTS	WEEK TOPICS 1st Week Markets and Prices 2nd Week Consumer Behaviour 3rd Week Individual and Market Demand 4th Week Production 5th Week Cost of Production in Short Run 6th Week Cost of Production in Long Run 7th Week Profit Maximization 8th Week Midterm 9th Week Competitive Supply 10th Week Analysis of Competitive Markets 11th Week Market Power: Monopoly 12th Week Market Power: Monopsony 13th Week Market Power and Pricing 14th Week Market Power and Welfare
RECOMENDED OR REQUIRED READING	Robert Pindyck and Daniel L. Rubinfeld, Microeconomics, 8th ed. Boston: Pearson, 2015.
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS	Lecture,Questions/Answers,Problem Solving,Discussion
ASSESSMENT METHODS AND CRITERIA	Quantity Percentage(%) Mid-term 1 40 Quiz 2 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 2 8 16 Individual or group work 14 4 56 Preparation for Final exam 1 25 25 Course hours 14 3 42 Preparation for Midterm exam 1 20 20 Laboratory (including preparation) 0 0 0 Final exam 1 2 2 Homework 0 0 0 Total Workload 163 Total Workload / 30 5,43 ECTS Credits of the Course 5
LANGUAGE OF INSTRUCTION	Turkish
WORK PLACEMENT(S)	No