Course Name : Microeconomics

Degree: Bachelor

Code

Year/Semester

Local Credits

ECTS Credits

Course Implementation, Hours/Week

Course

Tutorial

Laboratory

EF 213

Fall

3

5

3

-

Department

Economics and Finance

Instructors

Assoc. Prof. Dr. Burhan Can Karahasan

Contact Information

e-mail: bckarahasan@pirireis.edu.tr

Office Hours

Thursday 15:00-17:00 / Friday 11:00-12:00

Web page

http://www.pirireis.edu.tr/pruonline/www/index.php

Course Type

 Compulsory

Course Language

English

Course Prerequisites

  EF 111 (special condition)

Course Category by Content, %

Basic Sciences

Engineering Science

Engineering Design

Humanities

Course Description

Introduction, Demand and Supply Framework, Elasticity, Utility Theory, Producer Theory, Profit Maximization, Perfect Competition, Monopoly, Monopolistic Competition, Game Theory, Asymmetric Information, Market Intervention

Course Objectives

Microeconomics introduces an “economic way of thinking” and method of analysis in order to examine economic markets and human behavior. Microeconomics focuses on how choices are made (both at individual consumer and also producer level), how scarce resources are allocated among alternative ends, and how markets operate. Emphasis is placed on the operation of product and resource markets, the role of “prices” as signals, and decision‐making by consumers, firms, workers, and government. The course provides students with the ability to use economic analysis (in particular, a demand‐supply framework) and economic reasoning to better understand a variety of economic activities, as well as providing preparation for further study in economics.

Course Learning Outcomes

By students who passed from EF 213 will successfully

1. Be able to solve a linear demand-supply system, find the equilibrium output/quantity and be able to graph the functions.
2. Be able to evaluate the elasticity concept by defining the relationship between change in prices and change in quantity.
3. Be able to define the basic concepts of consumer and utility theory
4. Be able to assess the trade-off between risk and return
5. Be able to explain the structure of production and related concepts of producer theory.
6. Be able to distinguish the difference between different market structures.
7. Be able to evaluate the pricing behavior under different completion level.
8. Be able to define and evaluate different economic pay-offs under differing strategic behavior
9. Be able evaluate different forms of market asymmetries market efficiency

Instructional Methods and Techniques

The presentation of theory.

Tutorial Place

-

Co-term Condition

-

Textbook

- MICROECONOMICS, Pindyck R.S. and Rubinfeld D.L. (8^th Edition, Pearson)

- INTERMEDIATE MICROECONOMICS, Hal R. Varian (9^th, W. W. Norton & Company)

Other References

Additional readings will be handled out during the term

Homework & Projects

-

Laboratory Work

-

Computer Use

-

Other Activities

Pop-up quizzes.

Assessment Criteria

Activities

Quantity

Effects on Grading, %

Attendance

Midterm

1

40

Quiz

3

10

Homework

Term Paper/Project

Laboratory Work

Practices

Tutorial

Seminar

Presentation

Field Study

Final Exam

1

50

TOTAL

100

Effects of Midterm on Grading, %

Effects of Final on Grading, %

TOTAL

100

Week

Topics

Course Outcomes

1

Introduction-Basic Concepts

I-II-III

2

Demand and Supply Analysis and Market Equilibrium

I-II

3

Elasticity

I-II-III

4

Consumer Behavior: Utility and Demand

I-II-III

5

Possibilities, Preferences and Choices

III-IV

6

Output and Costs

V-VI-VII

7

Profit Maximization and Competitive Supply

V-VI-VII

8

Perfect Competition

V-VI-VII

9

Monopoly

V-VI-VII

10

Monopolistic Competition and Oligopoly

V-VI-VII

11

Game Theory and Competitive Strategy

VII-VIII

12

Markets with Asymmetric Information-Externalities and Public Good

IX

13

Efficiency and Equity & Market Interventions

IX

14

Review

All

Program Outcomes

Level of Contribution

1

2

3

a

Ability to analize the theoretical information in the area of economics and finance, and to assess their implications in implementation.

X

b

Ability to acquire distinctive information in the area of social and and behavioral sciences through academic, managerial, and politically focused written and visual resources

X

c

Ability to acquire knowledge by integrating information related to the field of economics and finance  into computerized environments.

X

d

Ability to present obtained information by employing the technical skills required by the field of economics and finance (such as in computerized environments) in Turkish or English.

X

e

Ability to employ knowledge related to the field of economics and finance in decision-making, application, and the application of decisions.

X

f

Ability to produce multidisciplinary assessments and conduct analyses in harmony with the area of economics and finance, related sub-fields, and other social science areas.

X

g

Ability to incorporate and accurately assess ethical and Professional responsibilities.

X

h

Ability to establish effective high-level written and oral communications in Turkish and English.

i

To have a wide-range understanding for the incorporation of the effects of the field of economics and finance in a global context.

X

j

Having acquired lifelong learning skills.

k

Having wide knowledge on contemporary topics.

X

l

Being open and adaptive to novelty and varying condition

X

m

Having practical and theoretical technical knowledge for being able to obtain information and results through data analysis.

X

Prepared by

Assoc.Prof.Dr.Burhan Can Karahasan

Date

06.06.2017

Signature