Ondokuz Mayıs Üniversitesi Bilgi Paketi - Ders Kataloğu

Description of Individual Course Units

Course Unit CodeCourse Unit TitleType of CourseYearSemesterECTS
SHU107 General Economics-I 927001 1 1 5
Level of Course Unit
First Cycle
Objectives of the Course
Teaching micro based fundamental concepts of economics (supply, demand, production theory, consumption theory, price theory, markets, industry). Therefore, it is intended to improve the ability of students’ evaluation of current events on the basis of theoretical background of economics.
Name of Lecturer(s)
Yrd. Doç. Dr. FERHAT AKYÜZ
Learning Outcomes
  1. Students know the introduction of economics
  2. Students know supply and demand
  3. Students know the features of the imperfect competition, monopoly, monopolistic competition, oligopoly and underlying circumstances that cause the formation of these markets. Furthermore, they make short and long run equilibrium analysis and detect the behavioral patterns.
  4. Students know the type of questions that economics is trying to scope out.
  5. Students can give examples of supply and demand elasticity from relevant implementations. Moreover, they know The King Law, Cobweb theory, state intervention to agricultural products, black market, control of lettings, reflection of the tax etc.
  6. Students know supply and demand, analyzes formation/deformation of market price through implementing to each market.
  7. Students know the meaning of competition while giving examples of the process of perfect competition and market analysis.
Mode of Delivery
Formal Education
Prerequisites and co-requisities
None
Recommended Optional Programme Components
None
Recommended or Required Reading
Zeynel Dinler, İktisada Giriş, 16. Baskı, Ekin Kitabevi, Bursa, 2011.
Planned Learning Activities and Teaching Methods
Language of Instruction
Turkish
Work Placement(s)
None
Course Contents
Demand and supply, factors affecting demand and supply, formation of market price and partial equilibrium analysis, supply and demand elasticity, practical examples of supply and demand, consumption theory, production theory, production function and production analysis; cost analysis, perfect competition, monopoly, monopolistic competition, oligopoly, the market of factors of production.
Weekly Detailed Course Contents
Week Theoretical Practice Laboratory
1.Law of scarcity, alternative cost, resources, product, service and utility, cooperation and division of labor, exchange, basic issues of economics and economic system
2.Demand function, individual demand and market demand, shift in the demand curve, law of demand and exceptions, price elasticity of demand
3.Supply function, factors affecting supply, firm supply, industry supply, supply elasticity and factors affecting elasticity
4.Intersection of supply and demand, formation of market price, partial equilibrium analysis, situation of deformation of market price
5.Changes on factors apart from price that determine demand, income elasticity, changes of the price among substitute goods and complementary goods, crossed demand elasticity and calculations, impacts of factors apart from price on supply
6.Implementations of supply, demand and elasticity. The King Law, Cobweb theory, intervention of state on agricultural goods, black market, control of lettings, elasticity and reflection of the tax.
7.Production theory, law of equal marginal utility and consumers’ equilibrium: Cardinal Utility approach, indifference analysis, indifference curves and their features, budget line, consumers’ equilibrium
8.Production function and productivity analysis, short-run and law of diminishing returns, long-run and returns to scale, isoquant curves, substitution of factors, isocost line, production with minimum cost, expansion path of the firm
9.Cost analysis, short-run cost curves (fixed, flexible, total, average and marginal costs), costs and law of diminishing returns, long-run cost curves, returns to scale, internal economies, external economies
10.Perfect competition, features of the market, short-run firm equilibrium of the firm according to total costs-total income and marginal costs-marginal income methods, excess profit-normal profit and analysis of firms making loss, long-run equilibrium of the firm, equilibrium of the industry, critics to perfect competition
11.Reasons that cause the formation of imperfect markets and types of imperfect markets. Monopoly, barriers to entry to the market, equilibrium of the firm in monopoly, price differentiation in monopoly, critics to monopoly
12.Monopolistic competition, product differentiation, freedom to entry and exit to market, short-run equilibrium of the firm, long-run equilibrium of the firm and group, critics to monopolistic competition
13.Oligopoly, features of the market, equilibrium of the oligopoly, duopolistic model of Cournot, model of kinked demand curve, model of cartel, application of game theory on oligopoly, critics to oligopoly, measuring the market concentration (indices)
14.Market of factors of production, factor demand under perfect competition, market labor demand, labor supply, formation of wages in labor market, intervention to labor market and implementation of minimum wage
Assessment Methods and Criteria
Term (or Year) Learning ActivitiesQuantityWeight (%)
Midterm Examination1100
SUM100
End Of Term (or Year) Learning ActivitiesQuantityWeight (%)
Final Examination1100
SUM100
Term (or Year) Learning Activities40
End Of Term (or Year) Learning Activities60
SUM100
Workload Calculation
ActivitiesQuantityTime(hours)Total Workload(hours)
Midterm Examination122
Final Examination122
Attending Lectures10330
Individual Study for Mid term Examination11515
Individual Study for Final Examination12020
Reading14456
SUM125