Advanced Microeconomic Analysis II

Course Code:

ECON 603

Semester:

Spring

Course Type:

Core

P:

3

Lab:

0

Credits:

3

ECTS:

10

Course Language:

English

Course Objectives:

The purpose of this course is to prepare students to the final stages of microeconomic theory and its applications. Upon successful completion of this course, students are expected to be able to read, interpret and analyze most of the scientific papers published in the field of microeconomics and contribute.

Course Content:

This course covers topics such as choice under uncertainty, game theory and strategic equilibrium, partial and general competitive equilibrium models, applied competitive models, perfect competition, monopolies, traditional models of imperfect competition, externalities and public goods.

Teaching Methods:

Lecture, Question-Answer, Discussion

Assessment Methods:

Testing, Homework

Vertical Tabs

Course Learning Outcomes

Learning Outcomes	Program Learning Outcomes	Teaching Methods	Assessment Methods
1) Informed about choice under uncertainity and risk aversion topics.	1,3,4,6	1,2,3	A,C
2) Learn the alterative usage of game theory.	1,3,4,8	1,2,3	A,C
3) Analyzes partial equilibrium competitive model and general competitive equilibrium models.	1,7	1,2,3	A,C
4) Learns the operation of perfect and imperfect competition models.	1,4,5	1,2,3	A,C
5) Analyzes the impacts of externalities and public goods on efficiency.	1,4,8	1,2,3	A,C

Course Flow

COURSE CONTENT
Week	Topics	Study Materials*
1	Choice in Uncertain Situations: Expected Utility and Risk Aversions	Chapter 8
2	The Economics Information	Chapter 9
3	Game Theory and Strategic Equilibrium	Chapter 10
4	The Partial Equilibrium Competitive Model	Chapter 14
5	The Partial Equilibrium Competitive Model cont'd	Chapter 14
6	Applied Competitive Analysis	Chapter 15
7	Mid Term Examination
8	General Competitive Equilibrium	Chapter 16
9	General Competitive Equilibrium cont'd	Chapter 16
10	The Efficiency of Perfect Competition	Chapter 17
11	Models of Monopoly	Chapter 18
12	Traditional Models of Imperfect Competition	Chapter 19
13	Externalities and Public Goods	Chapter 24
14	Review

Recommended Sources

RECOMMENDED SOURCES
Textbook		*Nicholson, Walter. Microeconomic Theory: Basic Principles and Extension, The Dryden Press. H.R. Varian. Microeconomic Analysis, Norton, 1992 Mas-Colell, Whinston, and Green. Microeconomic Theory. New York, NY: Oxford University Press, 1995
Additional Resources		Lecture notes and chapter slides

Material Sharing

MATERIAL SHARING
Documents		Lecture notes and chapter slides
Assignments		End of Chapter problems and Homework Assignments
Exams		Quiz questions

Assessment

ASSESSMENT
IN-TERM STUDIES	NUMBER	PERCENTAGE
Mid-terms	1	50
Quizzes	3	25
Assignments	2	25
	Total	100
Contribution of Final Examination to Overall Grade		40
Contribution of In-Term Studies to Overall Grade		60
	Total	100
Course Category	Compulsory

Course’s Contribution to Program

COURSE'S CONTRIBUTION TO PROGRAM
No	Program Learning Outcomes	Contribution
		1	2	3	4	5
1	Formulate and develop a critical and comprehensive understanding of global and national economic problems, and construct and design practical solutions;					X
2	Extract information and concepts from various disciplines in social sciences and integrate them under the rubric of economics;			X
3	Construct testable hypotheses to find original, practical solutions to various social ills and problems;				X
4	Develop an analytical understanding of economic problems, and the ability to evaluate the inherent logic, assumptions and conclusions of alternative approaches;					X
5	Develop the necessary technical skills to evaluate alternative approaches in economics;				X
6	Formulate research projects, plan and conduct research in social sciences in general and in economics in particular;				X
7	Present the results of their research in national and international conferences and in scientific and professional venues;		X
8	Apply the scientific / academic modes of thought and analysis to their professional lives and form a bridge between the analytical and abstract modes of thinking of academia and the practical and dynamic skills of business life.					X

ECTS

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COURSE DESCRIPTION
Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Course Duration (Including the Exam Week: 15 x total course hours)	15	3	45
Hours for off-the-classroom study (Pre-study, practice)	15	10	150
Mid-terms	1	10	10
Quizzes (attendance, presentation, etc.)	3	3	9
Assignments	2	7	14
Final Examination	1	10	10
Total Work Load			238
Total Work Load / 25 (s)			9,52
ECTS Credit of the Course			10

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