Main concepts in microeconomics. Supply, demand and elasticity. Theory of consumer behavior; individual, and market demand. Production and costs of production. Firm theory: competitive markets, monopoly, monopolistic competition, and oligopoly. Game theory and firm strategy. Price controls, and government intervention. Markets with asymmetric information, externalities, and public goods.
Robert S. Pindyck, Daniel L. Rubinfield, Mikro İktisat, Sekizinci Baskıdan Çeviri, Palme Yayıncılık, Ankara, 2014.
Other Sources
Zeynel Dinler, Mikro Ekonomi, Gözden Geçirilmiş 27. Basım, Ekin Basım Yayın Dağıtım, Bursa, 2016.
Course Schedules
Week
Contents
Learning Methods
1. Week
Introduction, Main Concerns of Microeconomics
2. Week
The Basics of Supply and Demand
3. Week
Elasticity
4. Week
Consumer Behavior
5. Week
Individual and Market Demand
6. Week
Production and Cost of Production
7. Week
The Analysis of Competitive Markets, Profit Maximization and Competitive Supply
8. Week
Midterm Exam
9. Week
Monopoly and Monopsony
10. Week
Pricing with Market Power Monopolistic Competition
11. Week
Oligopoly
12. Week
Game Theory and Competitive Strategy
13. Week
Asymmetric Information, Externalities and Public Goods
14. Week
General Review
15. Week
16. Week
17. Week
Assessments
Evaluation tools
Quantity
Weight(%)
Midterm(s)
1
40
Attendance
1
5
Final Exam
1
55
Program Outcomes
PO-1
Define the concept and types of entrepreneurship in historical development within the framework of entrepreneurship theory.
PO-2
Develop awareness about ways to improve personal and corporate innovation and creativity
PO-3
Distinguish the different aspects of SME management and its problems from SME management and its problems
PO-4
Design a business plan to start a new business
PO-5
Assess the institutionalization process of newly established businesses
PO-6
Employ the information and skill that is related to entrepreneurship in the career life and apply it to the workplace environment.
PO-7
Explain new business in social environment with social capital and communication competence
PO-8
Interpret knowledge of innovation and the importance of innovation that learned during education life with up-to-date information and adopt it to business life
PO-9
Identify how to reach entrepreneurship supports thanks to the basic and up-to-date information gained on entrepreneurship and estimates about the change and paradigm shifts in the entrepreneurship ecosystem.
PO-10
Compose the conceptual and cognitive knowledge with expert knowledge required by business life
Learning Outcomes
LO-1
Be able to identify microeconomic concepts, and theories at the intermediate level.
LO-2
Comprehend the mechanism of market equilibrium, and the outcomes of disequilibrium.
LO-3
Be able to explain the behavior of both consumers, and producers.
LO-4
Describe the key characteristics of competitive markets, monopoly, monopolistic competition, and oligopoly in detail; and compare equilibrium of and social outcomes in those markets at the intermediate level.
LO-5
Comprehend the consequences of price controls, and government intervention in the economy; and analyse the the outcomes of such policies in real economic life.
