Course Code and name

 

ECO235  Microeconomic Theory I

Course Type

 

Compulsory

Course Credit

 

3 0 3

ECTS Credit

 

 

Lecturer

 

Assoc. Prof. Hüseyin Özel, Associate Prof Selim Çağatay

Pre-requisite(s)

None

Course Length

 

1 Semester / 3 hours each week

Course Content

Consumer preferences, budget constraint and utility. Consumer choice, consumer demand and Slutsky equation. Consumer welfare. Technology. Profit maximization and profit function. Cost curves, cost minimization and cost function.

Course Objective and Fulfillments to be obtained by Students

 

The aim of this course is to introduce students, at an intermediate level, to the fundamental concepts and techniques of microeconomic analysis. At the end of this course, students should be able to demonstrate their understanding of the theory of consumer behavior and the theory of the competitive firm; and to solve the optimization problems faced by both consumers and producers, and derive the functions describing optimal quantities.

 

References

 
  • Varian, H. R. Intermediate Microeconomics, 7th edition. New York: W.W. Norton & Company, 2005.
  • Nicholson, W. Microeconomic Theory: Basic Principles and Extensions, 9th edition. Boston, MA: South-Western College Publishing, 2004.
  • Pindyck, R. S. and D. L. Rubinfeld, Microeconomics, 6th edition. New York: Prentice Hall, 2004.
  • Katz, L. M. and H. S. Rosen, Microeconomics, 3rd edition. New York: McGraw-Hill, 1997.

Teaching Method

Lectures           Lectures and problem solving

Assessment Method

2 midterms (25 % ea      2 midterm exams (25% each), and a final exam (50%)

Instruction Language          

 English