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Program Type: 
Thesis
Non Thesis
Course Code: 
FE 632
P: 
3
Lab: 
0
Credits: 
3
ECTS: 
10
Course Language: 
English
Course Objectives: 

We have prepared this course to highlight the simplicity of economic ideas and their extraordinary power to explain, predict and improve what is going on in the world. We want students to master the basic principles of economic analysis. With this goal in mind, we identify three key ideas that lie at the heart of the economic approach to understanding human behavior: optimization, equilibrium, and empiricism. These abstract words represent three ideas that are actually quite intuitive.

Course Content: 

Course content is as follows in week order: Introduction, Technology, Profit Maximization and Profit Function, Cost Minimization and Cost Function, Utility Maximization and Choice, Consumer Theory, Uncertainty and Econometrics, Partial Equilibrium: Perfect Competition and Imperfect Competition, General Equilibrium: Production, Competitive Market , Walrasian Equilibrium, Production, Time and Asset Markets, Social Choice, Welfare, Public Goods and Externalities, Game Theory, Information Economics, Auctions and Mechanism Design.

Teaching Methods: 
1: Lecture, 2: Question-Answer, 3: Discussion, 4: Simulation, 5: Case Study
Assessment Methods: 
A: Testing, B: Experiment, C: Homework, Q: Quiz

Vertical Tabs

Course Learning Outcomes

Learning Outcomes Programme Learning Outcomes Teaching Methods Assessment Methods
Understanding of consumer theory and efficient allocation of resources 1,2,3,5 1,2,3 A, C
Understanding of Balance Analysis 1,2,3,5 1,2,3 A, C
Comprehension of game theory and information economy 1, 5 1,2,3 A, C
Understanding of auction theory  1, 5 1,2,3 A, C

Course Flow

COURSE CONTENT
Week Topics Study Materials
1 Introduction  
2 Technologies  
3 Profit Maximization and Profit Function  
4 Cost Minimization and Cost Function  
5 Utility Maximization and Choice  
6 Consumer Theory  
7 Midterm Exam  
8 Uncertainty and Econometrics  
9 Partial Equilibrium: Perfect Competition and Imperfect Competition  
10 General Equilibrium: Production, Competitive Market  
11 Walrasgil Equilibrium, Production, Time and Asset Markets  
12 Social Choice, Welfare, Public Goods and Externalities  
13 Game Theory, Information Economics  
14 Auctions and Mechanism Design  
15 Final  

Recommended Sources

RECOMMENDED SOURCES
Textbook MICROECONOMICS, Daron Acemoglu, David Laibson, John A. List, 2019, Pearson
 

Advanced Microeconomic Theory, G EOFFREY A. J EHLE, HILIP J. RENY, 2011, Pearson

Additional Resources Course Notes Course website, lecture notes, financial markets laboratory, financial calculator, online resources, excel type software.

Material Sharing

MATERIAL SHARING
Documents Guidelines and additional examples for Lecture Topics and Homework Assignments
Assignments Homework assignments
 
Exams Midterm Exam and Final Exam

Assessment

ASSESSMENT
IN-TERM STUDIES NUMBER PERCENTAGE
Mid-Term 1 20
Class Performance 1 20
Final Exam 1 60
  Total 100
CONTRIBUTION OF FINAL EXAMINATION TO OVERALL
GRADE
  40
CONTRIBUTION OF IN-TERM STUDIES TO OVERALL
GRADE
  60
  Total 100
 
COURSE CATEGORY Expertise/Field Courses

Course’s Contribution to Program

COURSE'S CONTRIBUTION TO PROGRAMME
No Program Learning Outcomes Contribution
1 2 3 4 5
1 To comprehend the basic principles of finance and to be able to apply these principles in national and international areas.          X
2 To use modern information technologies and current financial tools effectively.        X  
3 To comprehend the ethical rules and social responsibility understanding accepted by financial professional organizations and to apply them in the decisions to be taken.    X      
4 To have the infrastructure that will enable them to do business in multicultural, multilingual and interdisciplinary environments.      X    
5 To have information about the markets and the functioning of the markets and to analyze the developments in these markets.     X X  
6 To recognize the management tools and models specific to multinational companies and to be able to apply them where necessary.          
7  To understand the structure of the global economic system and to analyze how new developments will affect this structure.   X      
8 To be able to use the ability of critical thinking in the decision making process.    X      
9 To transfer the acquired leadership, teamwork and communication skills to the lifelong learning process.           
10 To be able to manage the process with analytical and creative approaches by anticipating the opportunities and problems that dynamic working conditions may create.           

ECTS

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COURSE DESCRIPTION
Activities Quantity Duration (Hour) Total Workload (Hour)
Course Duration (Including the exam week: 15x Total
course hours/week)
16 3 48
Hours for off-the-classroom study (Pre-study, practice,
review/week)
16 4 96
Homework 5+1(Proje) 60 60
Mid-term  1 10 20
Final 1 15 30
Total Work Load     254
Total Work Load / 25 (h)     10.16
ECTS Credit of the Course     10