GAZI UNIVERSITY INFORMATION PACKAGE - 2019 ACADEMIC YEAR

COURSE DESCRIPTION
PRICE THEORY/1110047
Course Title: PRICE THEORY
Credits 3 ECTS 7.5
Semester 1 Compulsory/Elective Elective
COURSE INFO
 -- LANGUAGE OF INSTRUCTION
  Price Theory
 -- NAME OF LECTURER(S)
  Prof. Dr. A. Hakan CERMIKLI
 -- WEB SITE(S) OF LECTURER(S)
  http://www.websitem.gazi.edu.tr/site/cermikli
 -- EMAIL(S) OF LECTURER(S)
  cermikli@gazi.edu.tr
 -- LEARNING OUTCOMES OF THE COURSE UNIT
At the end of this course successful students will have learned demand and supply functions in perfect competition.
They will have knowledge about short-run and long-run equilibriums, and profit maximization in goods market.
They will have knowledge about the properties of market equilibrium.
They will have learned state interventions to perfect competition in detail.
They will have learned how the equilibrium and profit maximization are occured in monopoly.
They will have comprehended price discrimination in monopoly.
They will have learned various viewpoints in pure oligopol.
They will have learned the properties of monopolistic competition.
They will have knowlege about monopson.
They will have learned reciprocal monopoly and bilateral monopoly.
 -- MODE OF DELIVERY
  The mode of delivery of this course is Face to face
 -- PREREQUISITES AND CO-REQUISITES
  There is no prerequisite or co-requisite for this course.
 -- RECOMMENDED OPTIONAL PROGRAMME COMPONENTS
  Priorly, being succesful in basic economics and mathematics courses will provide convenience for this course. The students who will be succesful in this course will be able to study some issues like mathematical economics and industrial organisation.
 --COURSE CONTENT
1. Week  Introduction and basic concepts
2. Week   Structures of markets
3. Week  Demand function and the shape of demand function in perfect competition.
4. Week  Consumer surplus and shifts in the demand curve in perfect competition
5. Week   Supply function and the shape of supply function in perfect competition
6. Week  Producer surplus and shifts of supply curve in perfect competition
7. Week  Equilibrium of goods market and stability of it
8. Week  Midterm exam
9. Week  Intervention to perfect competition by taxes: Direct taxes
10. Week  Intervention to perfect competition by taxes: Indirect taxes
11. Week  Intervention to perfect competition by subsidies: Specific and ad valorem subsidies
12. Week  Floor and ceiling prices, and qoutations in perfect competition
13. Week  Monopoly, equilibrium of monopoly, and price discrimination
14. Week  Oligopol and various solutions
15. Week  Monopolistic competition, monopson, reciprocal monopoly and bilateral monopoly
16. Week  Final exam
 -- RECOMMENDED OR REQUIRED READING
  Ismail Bulmus, Microeconomics; Hal. R. Varian, Intermediate Microeconomics A Modern Approach; Hal R. Varian Microeconomic Analysis
 -- PLANNED LEARNING ACTIVITIES AND TEACHING METHODS
  Lecture, Question-Answer, Drill-Practise
 -- WORK PLACEMENT(S)
  Not Applicable
 -- ASSESSMENT METHODS AND CRITERIA
 
Quantity
Percentage
 Mid-terms
1
40
 Assignment
0
0
 Exercises
0
0
 Projects
0
0
 Practice
0
0
 Quiz
0
0
 Contribution of In-term Studies to Overall Grade  
40
 Contribution of Final Examination to Overall Grade  
60
 -- WORKLOAD
 Efficiency  Total Week Count  Weekly Duration (in hour)  Total Workload in Semester
 Theoretical Study Hours of Course Per Week
15
3
45
 Practising Hours of Course Per Week
0
 Reading
15
3
45
 Searching in Internet and Library
15
2
30
 Designing and Applying Materials
0
 Preparing Reports
0
 Preparing Presentation
0
 Presentation
0
 Mid-Term and Studying for Mid-Term
1
30
30
 Final and Studying for Final
1
30
30
 Other
1
7
7
 TOTAL WORKLOAD: 
187
 TOTAL WORKLOAD / 25: 
7.48
 ECTS: 
7.5
 -- COURSE'S CONTRIBUTION TO PROGRAM
NO
 PROGRAM LEARNING OUTCOMES
1
2
3
4
5
1To have theoretical knowledge in the field of International Economics at the proficiency levelX
2To have detailed knowledge about the Foreign Trade Theories, the rules, institutions and process of world trade, and the effects of international capital movementsX
3To conceive the interaction between economics and other disciplinesX
4To analyze theoretical knowledge and to be able to use practical knowledgeX
5To develop solutions for economic problems by using research methodsX
6To have the experience of using information technologies and basic computer programs at the high level in order to share their accumulated knowledge and problem solving abilityX
7To communicate with colleagues by using a foreign languageX
8To have the ability to interpret economic and social events through the acquired capability to think analytically and critically, and to be open for innovative ideasX
9To have a sound knowledge of the quantitative and qualitative methods that will help to examine the premises of different theoriesX
10To be compatible for teamwork in order to use their accumulated knowledge in research projectsX
11To be able to work on matters that require expertise in economics independentlyX
12To be aware of professional and scientific ethical codes at stages of economic data collection and interpretationX
13To be able to use their leadership skills by taking responsibility in the face of complex economic problemsX