Prerequisites and co-requisites |
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Language of instruction |
English |
Type |
Required |
Level of Course |
Bachelor's |
Lecturer |
Dr. Seda Turnacıgil |
Mode of Delivery |
Face to Face |
Suggested Subject |
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Professional practise ( internship ) |
None |
Objectives of the Course |
The main objective of this course is to provide materials to the students about characteristics of economic systems, economics goals and tools, mathematical formulas of macroeconomics and microeconomics and relation between economic agents which operate in economic system |
Contents of the Course |
Fundamental economic concepts, consumption theory, demand, supplly, market balance an balace price, elasticity, goods and service markets, scarcity, budget constraints, utility choice, consumer demand, production theory, firm supply and market balance, marginality and elasticity, income distribution concepts. |
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Subjects |
Teaching Methods and Technics |
1 |
The definition of economics as an system and set of paradigm shifts |
Interaktive written expression |
2 |
The difference between “Price and Value”. “Balance”, “Statically and Dynamically Balance (movements of balance point between periods)”. Difference between “Efficiency and Productivity”. What economic science really requires? “Normative or Positive Statements?”. Which subjects composite Macroeconomics and Microeconomics? What is “Methodology of Economics”? Introduction to “Limits”. |
Interaktive written expression |
3 |
“Price Theory”, “Demand Theory”, “Supply Theory”, “Balance and Elasticity”. “Slopes of Demand and Supply Curves”. “Supply and Demand Curve Shifting”. The formation of “Market Price”. “Elasticity of Demand and Supply”. “Elasticity of Price and Income”. |
Interaktive written expression |
4 |
“Consumer Behavior/Preferences Theory”, How can we define “Utility”? “Preferences” under static/dynamic utile amount. “Consumer’s Budget Constraint Line” and “Utility Maximization”, “Preferences” under “Budget Constraint”. Continuum and relation with Presence of the Limit. What is “The Derivative” and usage in economic problems/approaches. ”A Real Life Limit Problem Solving” |
Interaktive written expression |
5 |
“Production Theory”, Input and Output Concepts, Relationship Between Production and Input, Technological Revelations and Intrinsic Growth Model. Profit Maximization vs. Cost Minimization. Cost Theory. The definition of short term, mid-term and long term. The analysis on “Asymptote (horizontal, vertical, curved)”. |
Interaktive written expression |
6 |
The characteristics of “Perfect Competition Market”. How can we separate “Perfect Competition Market” from “Imperfect Competition Market”. “Profit Maximization”, “Short Term Firm Balance”, “Long Term Firm Balance” in perfect competition market. The Derivative and finding” Tangent Line”. |
Interaktive written expression |
7 |
The characteristics of “Monopoly Market”. The formation of Monopoly Markets, “Monopoly Market Balance” and “Profit Maximization”. “Monopoly Price Discrimination”. “Monopoly and Market Efficiency”. “ The Proof of F(x)= A(x)*B(x)” |
Interaktive written expression |
8 |
“Imperfect Competition Markets”, “Reasons for Price Discrimination”, “Monopolistically Competition Markets”, Characteristics of Monopolistically Competition Markets”, “Short and Long Run Balance In Monopolistically Competition Markets”.” Composite Derivative and Chain Rule”. |
Open-end question |
9 |
Oligopoly Markets”, “Characteristics of Oligopoly Markets”, “Reasons for Oligopolistic Markets”. “Price and Production Decision Models In Oligopoly Markets”. “Oligopoly and Economic Efficiency”. “Implicit Derivative”. |
Interaktive written expression |
10 |
“Factor Markets”, “Factor Demand”. “Perfect Competition In Goods and Factor Markets”. “Firm’ Factor Demand Only In Case of Usage Single Factor”, “Firm’s Factor Demand Only In Case Of Usage Multi Factor”. “Factor Markets Demand”. “Linear Functions and Linearization”. |
Interaktive written expression |
11 |
“Monopoly In Goods Markets, Perfect Competition In Factor Markets”. “Firm’s Factor Demand: In case of Single Variable Factor”. “ Firm’s Factor Demand Multi Variable Factors”. “Factor Market Demand”. “Elasticity of Factor Markets”. “Change In Factor Demand”.” Introduction To Linear Algebra with The Definition Of Euclidean Space”. |
Interaktive written expression |
12 |
“Factor Supply”. “Supply Curve of Factor Market”. “Balance In Factor Markets and Formation of Balance Price”. “Perfect Competition In Factor Markets”. “Imperfect Competition In Factor Markets”. “Monopsony Factor Markets”. “Marginal Factor Cost In Monopsony”. “Factor Demand and Employment In Monopsony Market”. “ Vector Addition and Subtraction, Dot Product and Cross Product” |
Interaktive written expression |
13 |
“Classic, Frequentist and Bayesian Probability”, “ Absolute Risk Computation”. “Relative Risk Computation”. “Utility Theory and Risk Analysis”. “Linear Transformation In Vectors” |
Interaktive written expression |
14 |
Limitied Introduction to Macroeconomics |
Interaktive written expression |
15 |
Overview |
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16 |
Final Exam |
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