2013 – 2014
DOKUZ EYLUL UNIVERSITY
MARITIME FACULTY
MBA 1007 MICROECONOMICS ( Group A )
Asst. Prof. Dr. Serdar AYAN
CREDITS
OFFICE HOURS
: 16.09.2013 - 30.12.2013
: 05.11.2013, 10.12.2013
: 31.12.2013 - 11.01.2014
: 20.01.2014 - 25.01.2014
: Case Karl E., Fair Ray C., Oster Sharon M., Principles of
Economics 10th Edition, Prentice Hall, London, 2012.
: Three Hours / Tuesday 13:15 – 15:50
: Tuesday and Thursday 12:30-13:00 or by appointment/ Room: 208
ECTS Credit
:5
E-mail
: serdar.ayan@deu.edu.tr
WEBSITE
: kisi.deu.edu.tr/serdar.ayan
TERM I
MID-TERM EXAMS
FINAL EXAM:
MAKE-UP EXAMS
TEXT:
A. COURSE OBJECTIVES
"Believe nothing, no matter where you read it, or who said it—no matter if I have said it—
unless it agrees with your own reason and your own common sense."
Buddha (563BC-483BC)
Principles of Microeconomics is an introductory course in economic theory and its applications and
it is devoted to critical thinking about how society allocates scarce resources. It is designed to
introduce students to the fundamental concepts of microeconomics, which focuses on the behavior
of individual decision making units. The objective of the course is to apply principles of economic
analysis to the day-to-day decisions of individuals and households (consumers) and to different
types of firms. Students are under these different structures. We will examine concepts such as what
determines introduced to the basic models of market structure and how firms behave market
supply and demand, how firms decide how much to produce in order to maximize profits under
different circumstances, and a wide range of economic policy issues.
B. COURSE LEARNING OUTCOMES
Beginning with the framework of a supply and demand model, the course proceeds to address
concepts of equilibrium pricing, shifts in supply and demand, and market failure. The technique of
marginal analysis is also applied to labor and capital markets. Upon completion of the course, the
student will be able to:
1. Express what economists mean by the concept of scarcity
2. Identify the determinants of demand and supply
1
3. Predict a change in market outcomes given a change in supply and demand
4. Explain the concept of market types and equilibrium
C. EXAMS AND EVALUATION
There will be two midterm and one final exam covering the prior lecture and reading material.
Midterm and final exams will be composed of essay type questions that encourages the critical
thinking in microeconomics discipline.
Evaluation system is as follows;
Midterm Exam ( 1 )
Midterm Exam ( 2 )
Final Exam
TOTAL
20 %
20 %
60 %
100 %
D. RULES FOR ATTENDANCE
All students are expected to attend classes punctually and regularly. Access to the final exam will be
granted to students who attain an attendance in excess of 70 %.
The content of the syllabus can be changed by the instructor at any time by informing the related
department’s head.
Class participation includes attendance, discussion and participation. Role is taken at the
beginning of class using a seating chart. Students arriving late may request partial credit by seeing
me after class. Excessive lateness or absences will result in a geometrically reduced grade. Please
make your travel plans accordingly. As one shrewd person once put it, “Never underestimate the
value of showing up.” Your presence enriches not only yourself, but also your classmates. Class
time is generally devoted to Socratic discussion and debate. You will be called upon frequently: in
fact, you can expect be called on in every class session. If you are a bit shy, this can be intimidating.
I hope that over time you will grow in confidence to speak up and be heard. Sometimes the quietest
students have the most interesting and important things to say.
STUDY HINTS: There are no surprises about how to excel in economics. Come to class prepared
each day. You should actively practice retrieving stored information and applying it. The more you
practice, the easier it gets. A Study Guide is an excellent learning tool; use it to the fullest.
Obviously, you cannot master everything at once, but it will become quite apparent if you are
preparing for class or not. If you are unavoidably absent, please arrange to get the notes and
assignments from a classmate in time for the next session.
E.REFERENCES
1. Lipsey, Richard G. , Courant Paul N., Ragan, Christopher T. S., Economics, 12th Edition,
Addison-Wesley Publishing Company, United States, 2000.
2. Baumol, William J., Blinder Alan S., Economics : Principles and Policy , Harcourt Brace
Jovanovich Publication, New York, 2000.
3. Begg David, Fischer Stanley, Dornbuch Rudiger , Economics, 5th Edition, McGraw Hill
Publication, England, 2008.
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F. TENTATIVE SCHEDULE
WEEK
1
DATE
17.09.2013
2
24.09.2013
TOPICS
Introduction to Course
Chapter 1 : The Scope and The Method of Economics
Chapter 2 : The Economic Problem : Scarcity and Choice
3
01.10.2013
Chapter 3 : Demand, Supply and Market Equilibrium
4
08.10.2013
Chapter 5 : Elasticity
5
15.10.2013
RELIGIOUS HOLIDAY ( Sacrifice Feast )
6
22.10.2013
Chapter 6 : Household Behavior and Consumer Choice
7
29.10.2013
NATIONAL HOLIDAY ( Republic Day )
8
05.11.2013
9
12.11.2013
Chapter 7 : The Production Process : The Behavior of Profit-Maximizing
Firms
10
19.11.2013
Chapter 8 : Short-Run Costs and Output Decisions
11
26.11.2013
Chapter 9 : Long-Run Costs and Output Decisions
12
03.12.2013
Chapter 12 : General Equilibrium and The Efficiency of Perfect Competition
13
10.12.2013
MIDTERM EXAM 2
14
17.12.2013
Chapter 13 : Monopoly
15
24.12.2013
Chapter 14 : Oligopoly ( and Duopoly)
MIDTERM EXAM 1
3