Microeconomics II

Program Type:

Thesis

Non Thesis

Course Code:

ECON 503

Semester:

Spring

Course Type:

Core

P:

3

Lab:

0

Credits:

3

ECTS:

10

Course Language:

English

Course Coordinator:

Ahmet ÖZÇAM

Courses given by:

Ahmet ÖZÇAM

Course Objectives:

The objective of this course is to endow students with the information of social welfare economics and efficiency concepts.

Course Content:

The course begins with the analysis of different market structures and their operations. Such as monopoly, monopollistically competitive, and oligopolistically competitive markets. The most important topic is the efficient use of resources. Through out the semester, causes of market failure (asymmetric information, public goods, and externalities) will also be disscussed.

Teaching Methods:

1: Lecture, 2: Question-Answer, 3: Discussion, 12: Case Study

Assessment Methods:

A: Testing, C: Homework, Q: Quiz

Vertical Tabs

Course Learning Outcomes

1. Investigates competitive and imperfectly competitive markets
2. Teaches the properties of social welfare economics
3. Explain the causes of market failure
4. Discussess the general equilibrium theore

Course Flow

COURSE CONTENT
Week	Topics	Study Material
1	Consumer and Producer Surplus
2	Economic Efficiency and Competitive Market
3	Monopoly
4	Pricing in Monopolies
5	Game Theory
6	Game Theory (Cont'd)
7	Oligopoly
8	Midterm
9	Monopolistically Competitive Markets
10	General Equilibrium
11	General Equilibrium (Cont'd)
12	Externalities
13	Coarse Theorem
14	Asimetric Information

Recommended Sources

RECOMMENDED SOURCES
Textbook		Pindyck and Rubinfeld, Microeconomics, Prentice Hall International Varian, H.R., Intermediate Microeconomics, W. W. Norton and Co.
Additional Resources

Material Sharing

MATERIAL SHARING
Documents		Discussion of current economical issues published in the media
Assignments		Exercises from textbooks
Exams

Assessment

ASSESSMENT
IN-TERM STUDIES	NUMBER	PERCENTAGE
Mid-terms	1	100
Quizzes (attendance, presentation, etc.)	0
Assignments	0
	Total	100
Contribution of the Final Examination to the Overall Grade	1	60
Contribution of the in-Term Studies to the Overall Grade	1	40
	Total	100

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
9	Nurture and develop the analytical and technical skills necessary to continue their studies at a Ph.D. level, either in Turkey or elsewhere around the globe.					X

ECTS

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COUSE DESCRIPTION
Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Course Duration (Including the Exam Week: 15 x total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	16	10	160
Mid-terms	1	10	10
Quizzes (attendance, presentation, etc.)			0
Assignments	1	20	20
Final Examination	1	10	10
Total Work Load			248
Total Work Load / 25 (s)			9.92
ECTS Credit of the Course			10

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