Information Package / Course Catalogue
Microeconomics
Course Code: BFN501
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

To present students advanced economics. To clarify microeconomic issues and their functions by analyzing economical problems.

Course Content

Individual Demand Curve, Market Demand Curve, Individual Supply Curve, Market Supply Curve, Price and Income Elasticity, Consumer Preferences.

Name of Lecturer(s)
Assoc. Prof. Şahin BULUT
Learning Outcomes
1.To be skills in explaining the roles of economic agents
2.To be skills in defining and interpreting economic systems, decision procedures and policies
3.To be ability to use quantitative techniques to analyze microeconomic problems at advanced level
4.To be establishment of Background for Advanced Studies
5.To be able to solve questions in competitions exams for profession by theoretical and mathematical foundations in this course.
Recommended or Required Reading
1.Pyndyck, R and D. Rubinfeld, (2009) Microeconomics, 7th ed., Pearson Education International, New Jersey
2.Varian, H. (1999) Intermediate Microeconomics, 3rd ed, WWNorton and Company, New York Eaton
Weekly Detailed Course Contents
Week 1 - Theoretical
Supply and Demand 1. Individual Demand Curve 2. Market Demand Curve 3. Individual Supply Curve 4. Market Supply Curve 5. Price and Income Elasticity 6. A Mathematical Treatment of Demand Theory
Week 2 - Theoretical
Consumer Theory 1. Cardinal Utility Approach 2. Consumer Preferences 3. Indifference Curves 4. Budget Line 5. consumer's equilibrium
Week 3 - Theoretical
The Change of Consumer’s Equilibrium 1. Engel Curve 2. Hicksian and Slutskian Income and Substitution Effects 3. Consumer Surplus 4. Some Applications
Week 4 - Theoretical
The Theory of Production 1. Production Function 2. Isoquant Curves 3. Elasticity of substitution 4. Production in the Short-Run and Long-Run 5. Minimum cost production 6. Returns to Scale
Week 5 - Theoretical
The Theory of Production Costs 1. Measuring Cost 2. Costs in the Short-Run 3. Costs in the Long-Run 4. Total, average and marginal costs 5. Scale and Scope Economies
Week 6 - Theoretical
The Theory of Production Costs 1. Production with Two Outputs 2. Dynamic Changes in Costs 3. A Mathematical Treatment of Cost Theory
Week 7 - Theoretical
The Theory of Production Costs 1. Production with Two Outputs 2. Dynamic Changes in Costs 3. A Mathematical Treatment of Cost Theory
Week 8 - Intermediate Exam
Midterm Exam
Week 9 - Theoretical
Theory of Perfect Competition 1. Revenue curve of firms 2. Output Decision in the Short-Run 3. Firm’s Short-Run Supply Curves 4. Market Short-Run Supply curve and Equilibrium 5. Output Decision in the Long-Run 6. The Industry Long-Run Supply Curve
Week 10 - Theoretical
The equilibrium in the perfect competition market and efficiency 1. The existence of competitive equilibrium and stability 2. The Efficiency of a Competitive Market 3. Minimum Prices and Wages 4. Price Supports and Production Quotas 5. The Impacts of Tax and Subsidies
Week 11 - Theoretical
The equilibrium in the perfect competition market and efficiency 1. The existence of competitive equilibrium and stability 2. The Efficiency of a Competitive Market 3. Minimum Prices and Wages 4. Price Supports and Production Quotas 5. The Impacts of Tax and Subsidies
Week 12 - Theoretical
Monopoly Theory 1. Source and feature of monopoly 2. Revenue curve in monopoly 3. Output Decision of Monopoly 4. The objection of monopoly
Week 13 - Theoretical
Monopoly Theory 1. Source and feature of monopoly 2. Revenue curve in monopoly 3. Output Decision of Monopoly 4. The objection of monopoly
Week 14 - Theoretical
Monopoly Theory 1. Social Cost of Monopoly 2. Regulate of monopoly (ceiling price, subsidy policy, taxation) 3. Pricing with Market Power (Price Discrimination and Capturing Consumer Surplus)
Week 15 - Theoretical
Monopoly Theory 1. Social Cost of Monopoly 2. Regulate of monopoly (ceiling price, subsidy policy, taxation) 3. Pricing with Market Power (Price Discrimination and Capturing Consumer Surplus)
Week 16 - Final Exam
Final Exam
Assessment Methods and Criteria
Type of AssessmentCountPercent
Midterm Examination1%40
Final Examination1%60
Workload Calculation
ActivitiesCountPreparationTimeTotal Work Load (hours)
Lecture - Theory142370
Individual Work72228
Midterm Examination110111
Final Examination115116
TOTAL WORKLOAD (hours)125
Contribution of Learning Outcomes to Programme Outcomes
PÇ-1
PÇ-2
PÇ-3
PÇ-4
PÇ-5
PÇ-6
PÇ-7
PÇ-8
PÇ-9
OÇ-1
4
3
4
4
5
4
3
4
3
OÇ-2
4
5
4
3
3
4
3
4
3
OÇ-3
5
4
3
4
3
4
3
4
3
OÇ-4
4
4
3
4
3
4
5
4
3
OÇ-5
3
4
5
4
3
4
5
4
3
Adnan Menderes University - Information Package / Course Catalogue