| Semester | Course Unit Code | Course Unit Title | T+P+L | Credit | Number of ECTS Credits | Last Updated Date |
| 1 | ECON 101 | Principles of Microeconomics | 2+2+0 | 3 | 5 | 06.11.2023 |
|
Language of Instruction
|
English
|
|
Level of Course Unit
|
Bachelor's Degree
|
|
Department / Program
|
BA Program in Economics
|
|
Type of Program
|
Formal Education
|
|
Type of Course Unit
|
Compulsory
|
|
Course Delivery Method
|
Face To Face
|
|
Objectives of the Course
|
The course would focus on understanding the main concepts and functioning of the market system as a
mechanism of resource allocation.. For this purpose selected market structures would be studied. The students
would also be exposed to analysis of government policies such as taxes and control on prices to understand their
effect on resource allocation.. The situation of government intervention in the market would also be examined
when Externalities causes market failures. Various market structures would also be studied to understand
conditions of the market equilibrium in the short-run and the long-run.
|
|
Course Content
|
The coursework will be structured around the following questions
• What are the determinants of principles of microeconomics?
• How do we describe supply, demand, competition, perfect competition, monopoly etc? What are the determinants of these?
• How are consumer and producer surplus, cost functions, revenues and marginal cost and revenue defined?
• What drives equilibrium prices of goods? What explains an equilibrium price? What are the role of supply, demand for a good and consumer and producer surplus in the economy?
|
|
Course Methods and Techniques
|
Face to Face, multimedia
|
|
Prerequisites and co-requisities
|
None
|
|
Course Coordinator
|
Prof.Dr. Hasan Vergil
|
|
Name of Lecturers
|
Dr. Taseer Salahuddin
|
|
Assistants
|
None
|
|
Work Placement(s)
|
No
|
Recommended or Required Reading
|
Resources
|
Microeconomics 8th edition by Gregory Mankiw
|
|
Course Notes
|
Microeconomics 8th edition by Gregory Mankiw
|
|
Documents
|
Microeconomics 8th edition by Gregory Mankiw
|
|
Assignments
|
Microeconomics 8th edition by Gregory Mankiw
|
|
Exams
|
Microeconomics 8th edition by Gregory Mankiw
|
Course Category
|
Mathematics and Basic Sciences
|
%10
|
|
|
Social Sciences
|
%10
|
|
|
Field
|
%80
|
|
|
Planned Learning Activities and Teaching Methods
Activities are given in detail in the section of "Assessment Methods and Criteria" and "Workload Calculation"
Assessment Methods and Criteria
|
In-Term Studies
|
|
Mid-terms
|
1
|
%
25
|
|
Quizzes
|
2
|
%
10
|
|
Assignment
|
2
|
%
20
|
|
Attendance
|
1
|
%
15
|
|
Final examination
|
1
|
%
30
|
|
Total
|
7
|
%
100
|
ECTS Allocated Based on Student Workload
|
Activities
|
Total Work Load
|
|
Course Duration
|
14
|
3
|
42
|
|
Hours for off-the-c.r.stud
|
14
|
3
|
42
|
|
Assignments
|
2
|
4
|
8
|
|
Mid-terms
|
2
|
15
|
30
|
|
Final examination
|
1
|
28
|
28
|
|
Total Work Load
| |
|
Number of ECTS Credits 5
150
|
Course Learning Outcomes: Upon the successful completion of this course, students will be able to:
| No | Learning Outcomes |
|
1
| A student can define fundamental microeconomics terms like supply, demand for a good, cost and revenue functions, marginal cost and revenue etc |
|
2
| A student can solve interactions of these notions and interpret the implications of these for the micro economy |
|
3
| A student can explain what competition is |
|
4
| A student can make use of different approaches to understand principles of microeconomics |
|
5
| A student can analyze the effects of changes in supply and demand, costs, profit maximization, competitive markets and monopolies |
Weekly Detailed Course Contents
| Week | Topics | Study Materials | Materials |
| 1 |
Preliminaries
|
Chapter 1, 2 in GM
|
Chapter 1, 2 in GM
|
| 2 |
The Basics of Supply and Demand
|
Chapter 4,5 in GM
|
Chapter 4,5 in GM
|
| 3 |
The Basics of Supply and Demand
|
Chapter 4,5 in GM
|
Chapter 4,5 in GM
|
| 4 |
Consumer, Producers and Efficiency of Markets
|
Chapter 7 in GM
|
Chapter 7 in GM
|
| 5 |
Consumer, Producers and Efficiency of Markets
|
Chapter 8, 9 in GM
|
Chapter 8, 9 in GM
|
| 6 |
The Economics of Public Sector
|
Chapter 10,11, 12 in GM
|
Chapter 10,11, 12 in GM
|
| 7 |
The Economics of Public Sector
|
Chapter 10, 11, 12 in GM
|
Chapter 10, 11, 12 in GM
|
| 8 |
Production
|
Chapter 13 in GM
|
Chapter 13 in GM
|
| 9 |
The Cost of Production
|
Chapter 13 in GM
|
Chapter 13 in GM
|
| 10 |
Profit Maximization and Competitive Supply
|
Chapter 14 in GM
|
Chapter 14 in GM
|
| 11 |
The Analysis of Competitive Markets
|
Chapter 14 in GM
|
Chapter 14 in GM
|
| 12 |
Market Power: Monopoly and Monopsony
|
Chapter 15 in GM
|
Chapter 15 in GM
|
| 13 |
Monopolistic Competition
|
Chapter 16 in GM
|
Chapter 16 in GM
|
| 14 |
Oligopoly
|
Chapter 17 in GM
|
Chapter 17 in GM
|
Contribution of Learning Outcomes to Programme Outcomes
Contribution: 1: Very Slight 2:Slight 3:Moderate 4:Significant 5:Very Significant
https://obs.ihu.edu.tr/oibs/bologna/progCourseDetails.aspx?curCourse=210075&lang=en