ECON 211

Course Code & Number

ECON 211

Course Title

Microeconomics I

Level

BS

Credit Hours/ ECTS Credits

(3+1+0) 3 TEDU Credits, 6 ECTS Credits

Year of Study:

Sophomore

Semester:

Fall

Type of Course:

Compulsory

Mode of Delivery:

Face-to-face

Language of Instruction:

English

Pre-requisite / Co-requisite:

Catalog Description

Formal tools of microeconomic theory. Preferences and choice. Analysis of expenditure decisions of consumers. Production and costs. Cost minimization and profit maximization. Functioning of competitive markets. Application of the theoretical principles of microeconomics in various contexts in everyday life.

Course Objectives

The aim of this course is to introduce students the basic principles and formal tools of microeconomic theory. Students would explain the fundamental theories of consumer decision, production decisions of firms and demand and supply analyses.

Course Learning Outcomes

After a successful finishing of the course, the student should be able to
1) Explain production decision of firms.
2) Describe the functioning of markets.
3) Calculate utility of the consumer and budget constraint.
4) Identify income and substitution effects of consumer demand.
5) Examine how economic agents interact in the market.
6) Analyze supply and demand and equilibrium in the market.
7) Apply fundamental theory of microeconomics to various contexts in everyday life.

Recommended Reading

1. Pindyck. R. and D. Rubinfeld, Microeconomics. 7th Edition, Prentice Hall, New York, 2008.

Course Coordinator:

Tekin Köse