Course Unit Code | Course Unit Title | Type of Course Unit | Year of Study | Semester | Number of ECTS Credits | 1-İKT-101 | MICROECONOMIC ANALYSIS - I | Compulsory | 1 | 2 | 6 |
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Level of Course Unit |
Second Cycle |
Objectives of the Course |
A primary aim of Microeconomic theory is the analysis of price system. In this context, we will examine the nature and scope of economics, basic concept of economics (scarcity, choice, production possibilities, positive and normative economics, demand and supply, demand and supply elasticities, market equilibrium and changes in market equilibrium, price ceiling and price floor, consumer preferences, consumer equilibrium, income and substitution effects (Classic, Hicks and Slutsky Approach), the market demand for a commodity, price elasticity of market demand, income elasticity of demand and cross elasticity of demand) elaborately. |
Name of Lecturer(s) |
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Learning Outcomes |
1 | Should define the basic concepts about microeconomics. | 2 | Should understand and explain price mechanism. | 3 | Should interpret the elasticity concept elaborately. | 4 | Should analyze the economic behavior of consumers. | 5 | Should explain income and substitution effects elaborately. | 6 | Should detect microeconomic problems and produce alternative solutions to these problems. | 7 | Should paraphrase microeconomic cases by the language of economic literature. | 8 | Should participate discussions about microeconomics subjects. |
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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. |
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 | | |
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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 | 30 | Attending Lectures | 15 | 10 | Practice | 10 | 10 | Discussion | 10 | 10 | Field Work | 4 | 10 | Individual Study for Mid term Examination | 20 | 10 | Individual Study for Final Examination | 20 | 10 | Homework | 20 | 10 | SUM | 100 | |
Final Examination | 1 | 70 | Report | 1 | 30 | SUM | 100 | Term (or Year) Learning Activities | 30 | End Of Term (or Year) Learning Activities | 70 | SUM | 100 |
| Language of Instruction | Turkish | Work Placement(s) | None |
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Workload Calculation |
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Midterm Examination | 1 | 1 | 1 |
Final Examination | 1 | 2 | 2 |
Attending Lectures | 15 | 10 | 150 |
Individual Study for Mid term Examination | 1 | 15 | 15 |
Individual Study for Final Examination | 1 | 25 | 25 |
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Contribution of Learning Outcomes to Programme Outcomes |
LO1 | | | | | | | | | LO2 | | | | | | | | | LO3 | | | | | | | | | LO4 | | | | | | | | | LO5 | | | | | | | | | LO6 | | | | | | | | | LO7 | | | | | | | | | LO8 | | | | | | | | |
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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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