This course aims to provide the students with the concepts such as positive and normative economics, economic reasoning and causality, opportunity cost, basic type of modelling and analyze the economic cases via these concepts and tools. Moreover, using these tools, student will be able to solve the consumer and producer equilibrium and analyze behavior of firms under perfect and imperfect competition numerically and analitically.
Prerequisite(s)
Corequisite(s)
Special Requisite(s)
Instructor(s)
Course Assistant(s)
Schedule
Office Hour(s)
Teaching Methods and Techniques
Principle Sources
Other Sources
Course Schedules
Week
Contents
Learning Methods
1. Week
Introduction and basic concepts
Lecture, Discussion, Problem Solution
2. Week
Economic modeling
Lecture, Discussion, Problem Solution
3. Week
Consumer theory and derivation of demand curve
Lecture, Discussion, Problem Solution
4. Week
Producer theory and derivation of supply curve
Lecture, Discussion, Problem Solution
5. Week
Equilibrium and comperative static
Lecture, Discussion, Problem Solution
6. Week
Elasticity and applications
Lecture, Discussion, Problem Solution
7. Week
Consumer and producer surplus: welfare analysis
Lecture, Discussion, Problem Solution
8. Week
Midterm Exam Week
Assessment
9. Week
Midterm Exam Week
Assessment
10. Week
Firm behavior under perfect competition
Lecture, Discussion, Problem Solution
11. Week
Firm behavior under monopoly
Lecture, Discussion, Problem Solution
12. Week
Firm behavior under oligopolistic competition
Lecture, Discussion, Problem Solution
13. Week
Firm behavior under monopolistic competition
Lecture, Discussion, Problem Solution
14. Week
Consumer behavior under uncertainty
Lecture, Discussion, Problem Solution
15. Week
Final Exam Week
Assessment
16. Week
Final Exam Week
Assessment
17. Week
Final Exam Week
Assessment
Assessments
Evaluation tools
Quantity
Weight(%)
Midterm(s)
1
30
Quizzes
2
20
Final Exam
1
50
Program Outcomes
PO-1
To define his/her competencies using the theoretical and practical knowledge he/she acquired in the field of Economics and to use these competencies in practice.
PO-2
To discuss concepts and ideas in the field of Economics with scientific methods, to develop hypotheses, to interpret and evaluate the data obtained.
PO-3
To develop solution suggestions for complex and/or unpredictable problems encountered in practice, to report and present these suggestions in accordance with the academic publication rules.
PO-4
To identify regional and global issues/problems, to perform analyses based on scientific data and research, and to develop solution suggestions.
PO-5
To determine the learning needs in the field of Economics, to evaluate the acquired knowledge and skills with a critical approach, and to use this knowledge and skills to develop economic policies.
PO-6
To inform relevant people and institutions on issues related to the field of Economics and to gain the ability to convey written and verbal solutions to problems.
PO-7
To convey his/her thoughts and suggestions in the field of Economics to experts and non-experts by supporting them with quantitative and qualitative data, to discuss and to contribute to the development of new policies by revising suggestions according to the feedback he/she receives.
PO-8
To benefit from other disciplines that form the basis of the field of Economics, to develop multidisciplinary approaches by associating these disciplines with his/her knowledge in the field of Economics, to produce project and publications.
PO-9
To define the differences and relationships between classical and modern theories of economics and to observe the distinctions between classical and modern economic policies and to evaluate the compatibility of these policies with economic and social issues.
PO-10
To read and comprehend foreing news sources about economics being fluent in a foreign language, to scan the economic literature and to follow the most current approaches in this field.
PO-11
To take into account scientific and ethical values in the stages of collecting, interpreting and announcing economic data and carrying out statistical/econometric studies using these data, and also to carry out the publication process in accordance with academic publishing principles.
Learning Outcomes
LO-1
To recognize the basic concepts and approaches used in economic analysis.
LO-2
To comprehend the economic facts using the basic concepts of economic analysis.
LO-3
To analyze consumer and producer surplus by associating various economic policies such as taxes and quotas with the concept of flexibility.
LO-4
To compare the optimal behavior of firms under different market types.
LO-5
To solve the producer and consumer equilibrium for each market type through mathematics.
