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Microeconomic Analysis

Course Code | : İKP501 |

Course Type | : Area Elective |

Couse Group | : Second Cycle (Master's Degree) |

Education Language | : Turkish |

Work Placement | : N/A |

Theory | : 3 |

Prt. | : 0 |

Credit | : 3 |

Lab | : 0 |

ECTS | : 5 |

Objectives of the Course

Micro Economic Analysis I, comprises economical, technical and mathematical aspects of relationships between consumers and producers with goods and services markets. Aim of this course is to explain partial equilibrums which is established between economic decision units and goods and services markets in perfect competition, by handling issues in theoretical framework. Also goverments interference forms to perfect competition market will be explained.

Course Content

Microeconomics, consumer preferences, consumer equilibrium and its types, indifference curves, budget constraint, market demand characteristics, elasticity analysis.

Name of Lecturer(s)

Assoc. Prof. Şahin BULUT |

Learning Outcomes

1. | Can learn the theoretical basis of causality relations between micro economic events and variables and learn technical and mathematical aspects of micro economic causality relations. |

2. | Can discuss effects of alternative public policies by learning rational consumer behavior |

3. | Can explain economic and mathematical features of efficient input using process of the firm |

4. | Can evaluate of government interventions in perfectly competitive markets and decomposite of wealth effects |

5. | Can solve questions easily that may occur in a profession competition examination with theoretical and mathematical foundations |

Recommended or Required Reading

1. | BULMUŞ, İsmail; Mikro İktisat |

2. | HENDERSON, J. ve R. Quant; Mikro İktisat- Matematiksel Bir Yaklaşım |

3. | DORNBUSCH, Rudiger, FISHER, Stanley ve David, BEGG; Mikro İktisat |

Weekly Detailed Course Contents

Week 1 - Theoretical

Scope of Microeconomic Analysis I and First-Best Conditions for Economic Decision Agents

Week 2 - Theoretical

Theory of Consumer Behavior and Ordinalist Approach

Week 3 - Theoretical

Modern Theory of Consumer Behavior and Mathematical Explanation of Consumer Equilibrium

Week 4 - Theoretical

Long-run Consumer Equilibrium , Decomposition of Income and Substitution Effects

Week 5 - Theoretical

Marshallian and Hicksian Demand Functions, Income and Price Elasticities of Demand, Engel s and Cournot s Aggregation Conditions

Week 6 - Theoretical

Theory of Producer Behavior : Productivity and Iso-quant Analysis

Week 7 - Theoretical

Elasticity of Inputs, Substitution and Output and Cobb-Douglas Production Functions

Week 8 - Intermediate Exam

Midterm Exam

Week 9 - Theoretical

Per Worker Production Functions, Types of Technological Progress, Measuring and Effects of Technological Progress

Week 10 - Theoretical

Theory of Cost and Cost Equilibrium of the Firm

Week 11 - Theoretical

Short-run Profit Maximization for a Given / Different Market Price Conditions in a Perfectly Competitive Market

Week 12 - Theoretical

Long-Run Equilibrium of the Firm and Uncertainity in Profit Maximization

Week 13 - Theoretical

Supply and Demand Functions of the Industry and Equilibrium in a Perfectly Competitive Market

Week 14 - Theoretical

Government Interventions in Perfectly Competitive Market and Its Effects

Week 15 - Theoretical

General topic review and final evaluation of the course

Week 16 - Final Exam

Fınal Exam

Assessment Methods and Criteria

Type of Assessment | Count | Percent |
---|---|---|

Midterm Examination | 1 | %40 |

Final Examination | 1 | %60 |

Workload Calculation

Activities | Count | Preparation | Time | Total Work Load (hours) |
---|---|---|---|---|

Lecture - Theory | 14 | 4 | 3 | 98 |

Midterm Examination | 1 | 10 | 1 | 11 |

Final Examination | 1 | 20 | 1 | 21 |

TOTAL WORKLOAD (hours) | 130 |

Contribution of Learning Outcomes to Programme Outcomes

PÇ-1 | PÇ-2 | PÇ-3 | PÇ-4 | PÇ-5 | PÇ-6 | PÇ-7 | |

OÇ-1 | 3 | 4 | 3 | 4 | 3 | 4 | 3 |

OÇ-2 | 3 | 4 | 3 | 4 | 3 | 4 | 3 |

OÇ-3 | 3 | 4 | 3 | 4 | 3 | 4 | 3 |

OÇ-4 | 4 | 3 | 4 | 3 | 4 | 3 | 4 |

OÇ-5 | 3 | 4 | 3 | 5 | 4 | 4 | 3 |

Person Responsible for Information Package

Adnan Menderes University - Information Package / Course Catalogue