The aim of this course is to enable students to acquire the fundamental concepts and tools of microeconomics, thereby enabling them to analyse market functioning, consumer and producer decisions, and different market structures (using graphical and analytical methods), interpret the results, and apply them to economic decision-making and policy discussions.
Prerequisite(s)
None
Corequisite(s)
None
Special Requisite(s)
None
Instructor(s)
Assist. Prof. Dr. Derya Bilgin
Course Assistant(s)
Schedule
Thursday, 09:00-10:50, Thursday 11:00-12:50
Office Hour(s)
Monday 13:00-14:00, Wednesday 13:00-14:00, BK B605, d.bilgin@iku.edu.tr
Teaching Methods and Techniques
Oral Presentation, Discussion, Applying and Practice
Principle Sources
Ünsal,M.E.(2007), Mikro İktisat, imaj Yayınları
Acemoğlu, D. Mikroekonomi, Beta Yayınevi
Other Sources
Türkay, O. (2007) Mikro İktisat Teorisi , İmaj Yayınları
Course Schedules
Week
Contents
Learning Methods
1. Week
Introduction to Microeconomics
Oral Presentation
2. Week
Supply and Demand Concepts, Graphs, Equations, and Factors Affecting Supply and Demand
Oral Presentation
3. Week
Market Equilibrium
Oral Presentation
4. Week
Elasticity
Oral Presentation
5. Week
Consumer Preferences, Ordinal and Cardinal Utility I
Oral Presentation
6. Week
Consumer Preferences, Ordinal and Cardinal Utility II
Oral Presentation
7. Week
Producer Theory
Oral Presentation
8. Week
Cost Theory I
Oral Presentation
9. Week
Cost Theory II
Oral Presentation
10. Week
General Structure of Monopoly Markets: Pricing, Costs and Profit
Oral Presentation
11. Week
Oligopoly and Duopoly
Oral Presentation
12. Week
Monopsony Market
Oral Presentation
13. Week
Equilibrium in the Labour Market I
Oral Presentation
14. Week
Equilibrium in the Labor Market II
Discussion, Applying and Practice
15. Week
Final
Assessment
16. Week
Final
Assessment
17. Week
Assessment
Assessments
Evaluation tools
Quantity
Weight(%)
Midterm(s)
1
30
Quizzes
1
20
Final Exam
1
50
Program Outcomes
PO-1
Demonstrates a basic level of understanding in related disciplines (such as economics, sociology, psychology, quantitative sciences, etc.) that form a foundation for business administration, and makes use of and applies them to the field of business.
PO-2
Applies mathematical, scientific, and social knowledge to business problems.
PO-3
Demonstrates a basic level of understanding in business functions and management (such as management, production, marketing, accounting, finance, human resources, behavioral sciences, etc.) and interprets the theoretical arguments focusing on interactions between the actors and the cultures in the field.
PO-4
Determines how to use acquired theoretical and practical knowledge and skills related to business in application and field analysis and applies them.
PO-5
Identifies and evaluates the relations in the field of business; describes the problems and presents analytical solutions through modeling and interpreting (critical thinking).
PO-6
Designs a business process in any functional stage that complies with identified objectives.
PO-7
Develop effective business communication skills (written-verbal/formal-informal).
PO-8
Owns effective working skills individually or on a team in business and multidisciplinary fields.
PO-9
Acts with a sense of professional and ethical responsibility.
PO-10
Having a minimum level of knowledge of a foreign language in English.
PO-11
Acquires basic knowledge about sustainable business understanding, sustainable business functions, and the concept of sustainability.
PO-12
In line with the requirements of the digital age, they gain experience and knowledge to see and analyze the business as a whole, analyze market behavior, sales, and planning, budget management, financing, create a strategy, read competitor strategies, construct scenarios and performance evaluation skills through teamwork on a virtual simulation program.
PO-13
Having both basic computer usage knowledge and advanced Excel usage knowledge required by the business world for writing formulas, data analysis, modeling, and using macros.
PO-14
Acquires knowledge and skills about current information systems and how to use these systems in business problems.
PO-15
Gains the competence to use an ERP-based computer software in the field of accounting and to apply financial accounting transactions digitally on this software.
Learning Outcomes
LO-1
Defines the concepts of supply, demand and market equilibrium; calculates and interprets equilibrium price–quantity using graphs and simple equations.
LO-2
Analyses the effects of shifts in supply and demand on the equilibrium price–quantity under different scenarios and presents the results graphically.
LO-3
Calculates demand elasticities within the scope of consumer theory; explains maximisation logic under consumer preferences and constraints.
LO-4
Evaluates firm behaviour using production decisions, cost types, and profit conditions within the framework of producer and cost theory.
LO-5
Compares perfectly competitive, monopoly, duopoly/oligopoly, and monopsony, duopsony/oligopsony markets; solves and discusses pricing and output/profit outcomes in each structure.
