Announcements

  1. Course page is on line (Sep. 21)
  2. Additional Reading List added (Sep. 23)
  3. Practice Session on Friday, Oct.10.: 12:00 at A2.(Oct.9)
  4. Practice Session on Friday, Oct.17.12:00 at A2. (Oct.16)
  5. Practice Session on Oct.17 was cancelled.
  6. Quiz 1 result and answers are available. (Oct.22)
  7. Important Change: Midterm Exam is in the week of 11 now. (Oct.22)
  8. Practice sessions will always be on Thursdays at 12:00 at A2. (Nov.2)
  9. Practice session on Nov.6.Thursday (Nov.5)
  10. Midterm Exam 1: Nov.13 (Thu), 11:00-12:45, at D1-D2.
  11. Midterm Exam 2: Dec. 2 (Tuesday), 16:00-17:45, A2. (Nov.24)
  12. Quiz2 results and Q&A posted. (Nov.25)
  13. Midterm 1 and 2 results announced. (Dec.14)
  14. Quiz 3 results announced. (Dec.25)
  15. Final Exam: January 12 (Monday), 9:30-11:20 @ D10. Bring a calculator. No cell phone.
  16. Final Exam Result announced. (Jan.13)

 

Personnel

Instructor: Shihomi Ara-Aksoy
(Office: İİBF, İktisat Bölümü, Email: )

Course Information

Schedule: Tuesdays 9:00-11:45, D3
Office hours: Mondays 16:00-17:00, Tuesdays 13:00-14:00 Or By Appointment
Course description
/objective:

The objective of this course is to introduce the basic concepts and tools used in economic analysis.  In this course, the structures of Microeconomics will be discussed. Students are expected to learn “economic” way of thinking and analyse the economic events in our society by using the learned economic tools.  The contents covered in this course will be discussed in more detailed manner in microeconomics courses in the following years. Therefore, it is strongly recommended to keep up with readings and make sure to understand every concept clearly.

Texts

Additional Readings: (for those who want to read more)

Course Syllabus

Lecture Schedule

Week

Contents

Week 1

(Sep. 23)
Topics:
  • The Scope and Method of Economics
Readings:
  • Ch. 1

Week 2

(Sep. 30)
No Class

Week 3

(Oct. 7)
Topics:
  • The Economic Problem; Scarcity and Choice
Readings:
  • Ch. 2

Additional material for understanding PPF

  •  Production Possibility Frontier: ppf.xls

Homework: Questions 4,6,8 (pp43-44), Read Economic Systems (p39)

Practice Session on Friday, Oct.10, 12:00 - 12:45 at A2

Week 4

(Oct. 14)
Topics:
  • Demand, Supply and Market Equilibrium
Readings:
  • Ch. 3

Homework: Questions 1, 4, 7, 8 (pp. 73-74)

Practice Session on Friday, Oct.17, 12:00 - 12:45 at A2 Cancelled

Week 5

(Oct. 21)
Topics:
  • Demand and Supply Applications
  • Elasticity
Readings:
  • Ch. 4, Ch. 5

Quiz 1: Result, Answer

Week 6

(Oct. 28)
No Class

Week 7

(Nov.4)
=>Important Change. Midterm Exam is now in the week of 10th.
Topics:
  • Household Behavior and Consumer Choice
Readings:
  • Ch. 6

Week 8

(Nov.13 (Thursday))
Midterm Exam 1
11:00-12:45, D1-D2
 Coverage:Ch1-Ch5
Bring Calculator

Week 9

(Nov. 18)
Topics:
  • The Production Process: The Behavior of Profit-Maximizing Firms
Readings:
  • Ch. 7

Week 10

(Nov. 25)
Topics:
  • Short-Run Costs and Output Decisions
  • Long-Run Costs and Output Decisions
Readings:
  • Ch. 8, Ch. 9

Quiz 2 result, Question and Answers

We will discuss quiz and homework questions in practice session on Thursday, 27th. Make sure you attend the session. 12:00 - 12:45 at A2.

Week 11

(Dec. 2)
2nd Midterm Exam
16:00 - 17:45 at A2
Coverage, Chapter 6 and Chapter 7 (~ page 159)
Bring calculator

Midterm 1 and 2 results


Topics:
  • Input Demand: The Labor and Land Markets
Readings:
  • Ch. 10

Week 12

(Dec. 9)
No Class

Week 13

(Dec. 16)
Topics:
  • Input Demand: The Capital Market and the Investment Decision
  • General Equilibrium and the Efficiency of Perfect Competition
Readings:
  • Ch. 11, Ch. 12

Week 14

(Dec. 23)
Topics:
  • Monopoly
  • Monopolistic Competition and Oligopoly
Readings:
  • Ch. 13, Ch. 14

Final Exam

(TBA)
Final Exam Result

Exams

Grading Policy

Three Quizzes5% each (15% total)
1nd Midterm Exam25%
2nd Midterm Exam25%
Final Exam35%

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