Course Unit Code | Course Unit Title | Type of Course Unit | Year of Study | Semester | Number of ECTS Credits | 190400103105 | MICRO ECONOMICS - I | Compulsory | 2 | 3 | 6 |
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Level of Course Unit |
First Cycle |
Objectives of the Course |
A primary aim of Microeconomic theory is the analysis of how price and output are determined in the market. In this context, will be regarding the concept of production, the aim of firm to be introduced, will explained the concept of periods of short and long periods with one variable input of production and with two variable inputs of production functions studied, the long-run and returns to scale concept presented, constant, increasing and decreasing returns to scale, will be examined under which conditions occur, the nature of production costs, explicit costs, implicit costs, the opportunity cost (or alternatively the cost), private and social cost, the optimal factor combination, iso-cost line, the product maximization, cost minimization, the total cost of the short and long-run per unit cost curves with the curves examined, how price and output are determined under perfect competition and, how price and output are determined under monopoly and will detailed examined.
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Name of Lecturer(s) |
Dr. Öğr. Üyesi Özlem SÖKMEN GÜRÇAM |
Learning Outcomes |
1 | Should define the basic concepts about microeconomics. | 2 | Should understand and explain price mechanism. | 3 | Should detailed interpret the elasticity concept. | 4 | Should analyse the economic behavior of consumer’s. | 5 | Should explain detailed income and substitution effects. | 6 | Should find alternative solutions to these problems determine by microeconomic problems. | 7 | Should interpret microeconomic cases by using the language of economic literature. | 8 | Should participate discussion about microeconomics subject. |
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Mode of Delivery |
Daytime Class |
Prerequisites and co-requisities |
None |
Recommended Optional Programme Components |
None |
Course Contents |
Microeconomic theory studies the economic behavior of individual decision-making units such as individual consumers, resource owners and business firms.
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Weekly Detailed Course Contents |
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1 | The Nature of Microeconomics
| | | 2 | The Demand Size of the Market
| | | 3 | Price Elasticity of Demand
| | | 4 | The Supply Size of the Market
| | | 5 | Price Elasticity of Supply
| | | 6 | Market Equilibrium and Changes in Market Equilibrium
| | | 7 | Consumer Preferences
| | | 8 | Indifference Curves
| | | 9 | Budget Line and Consumer Equilibrium
| | | 10 | Consumer Behavior and Individual Demand
| | | 11 | Income and Substitution Effects (Classic Approach)
| | | 12 | Income and Substitution Effects (Hicks Approach)
| | | 13 | Income and Substitution Effects (Slutsky Approach)
| | | 14 | Market Demand and Elasticities
| | | 15 | | | | 16 | | | |
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Recommended or Required Reading |
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Planned Learning Activities and Teaching Methods |
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Assessment Methods and Criteria | |
Midterm Examination | 1 | 100 | SUM | 100 | |
Final Examination | 1 | 100 | SUM | 100 | Term (or Year) Learning Activities | 40 | End Of Term (or Year) Learning Activities | 60 | SUM | 100 |
| Language of Instruction | Turkish | Work Placement(s) | None |
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Workload Calculation |
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Midterm Examination | 1 | 10 | 10 |
Final Examination | 1 | 10 | 10 |
Self Study | 14 | 8 | 112 |
Individual Study for Mid term Examination | 1 | 10 | 10 |
Individual Study for Final Examination | 1 | 15 | 15 |
Homework | 1 | 15 | 15 |
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Contribution of Learning Outcomes to Programme Outcomes |
LO1 | 4 | 4 | 3 | 3 | 4 | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 3 | 3 | LO2 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 3 | 3 | 3 | 4 | 4 | LO3 | 4 | 3 | 3 | 3 | 4 | 3 | 4 | 4 | 3 | 3 | 4 | 4 | 4 | 3 | 4 | 4 | 3 | LO4 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 4 | 3 | 3 | 3 | 3 | 4 | LO5 | 4 | 3 | 4 | | 4 | 3 | 4 | 3 | 4 | 3 | 3 | 3 | 4 | 4 | 3 | 4 | 3 | LO6 | 3 | 4 | 3 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 3 | LO7 | 4 | 3 | 4 | 4 | 3 | 3 | 4 | 4 | 3 | 4 | 4 | 3 | 3 | 3 | 4 | 4 | 3 | LO8 | 3 | 4 | 3 | 4 | 4 | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 |
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* Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High |
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Iğdır University, Iğdır / TURKEY • Tel (pbx): +90 476
226 13 14 • e-mail: info@igdir.edu.tr
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