Iğdır University Lifelong Learning Programme

Description of Individual Course Units

Course Unit Code	Course Unit Title	Type of Course Unit	Year of Study	Semester	Number of ECTS Credits
140400103102	MICROECONOMICS-I	Compulsory	2	3	4

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.

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.

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.

Weekly Detailed Course Contents

Week	Theoretical	Practice	Laboratory
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

Recommended or Required Reading

Planned Learning Activities and Teaching Methods

Assessment Methods and Criteria

Term (or Year) Learning Activities	Quantity	Weight
Midterm Examination	1	100
SUM		100
End Of Term (or Year) Learning Activities	Quantity	Weight
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

Workload Calculation

Activities	Number	Time (hours)	Total Work Load (hours)
Midterm Examination	1	1	1
Final Examination	1	2	2
Self Study	14	8	112
Individual Study for Mid term Examination	1	5	5
Individual Study for Final Examination	1	1	1
Homework	1	10	10
TOTAL WORKLOAD (hours)			131

Contribution of Learning Outcomes to Programme Outcomes

	PO 1	PO 2	PO 3	PO 4	PO 5	PO 6	PO 7	PO 8	PO 9	PO 10	PO 11	PO 12	PO 13	PO 14	PO 15	PO 16	PO 17
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

* Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High