At the end of this course, the students; 1) Learn basic microeconomic concepts and price formation in markets. 2) Comprehend micro-economic concepts such as demand, supply, utility, externalities, public goods and regulation. 3) Understand how micro-economic balance is achieved by supply and demand. 4) Be familiar with the functioning of different markets. 5) Understand how monopoly, oligopoly and fully competitive markets work. 6) Understand the effects of government intervention on 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
None
COURSE DEFINITION
Basic concepts and principles of economics and to give the student the ability to analyze the concepts and information to provide an introduction to the economy.
COURSE CONTENTS
WEEK
TOPICS
1st Week
Basic concepts, observation and explanation of economy, selection of famine and economic interaction
2nd Week
Supply and demand model
3rd Week
Flexibility and uses of flexibility
4th Week
Demand curve and consumer behavior
5th Week
Supply curve and behavior of firms
6th Week
İnteraction of individuals in markets
7th Week
Costs and evolution of firms over time, rise and fall of industries, monopoly
8th Week
Midterm
9th Week
Monopoly, product differentiation, monopolistic competition and oligopoly
10th Week
Product differentiation, monopolistic competition and oligopoly, anti-monopoly policy and regulation
11th Week
Labor markets
12th Week
Taxes, transfers and income distribution
13th Week
Public goods, externalities and behavior of governments
14th Week
Physical capital and financial markets
15th Week
Final Exam
RECOMENDED OR REQUIRED READING
1. John, B, Taylor. (2003). Economics. New York, Houghton Mifflin.
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS
Lecture,Discussion,Practice,Presentation,Project
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
3
1
3
Individual or group work
14
2
28
Preparation for Final exam
4
3
12
Course hours
14
2
28
Preparation for Midterm exam
2
8
16
Laboratory (including preparation)
Final exam
1
2
2
Homework
1
4
4
Total Workload
95
Total Workload / 30
3,16
ECTS Credits of the Course
3
LANGUAGE OF INSTRUCTION
Turkish
WORK PLACEMENT(S)
No
KEY LEARNING OUTCOMES (KLO) / MATRIX OF LEARNING OUTCOMES (LO)
