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Week
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Topics
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Study Metarials
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1
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Introduction to Advanced Microeconomics: Preferences and Choices
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R1, Chap. 1
AR1, Chap. 1
AR2, Chap. 1
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2
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Technology: Specification of technology, Production functions, Homogeneous and homothetic technologies
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R1, Chap. 1
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3
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Profit maximization and profit function: Properties of demand and supply functions, Comparative statistics using the first-order conditions and comparative statistics using algebra, Properties of profit function
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R1, Chap. 2-3
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4
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Cost minimization and cost function: calculus analysis of cost minimization and second-order conditions, conditional factor demand functions, algebraic approach to cost minimization, the geometry of average and marginal costs
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R1, Chap. 4-5
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5
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Cost functions: Factor prices and cost functions, Comparative statistics using cost functions, Duality: the geometry and the uses of duality
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R1, Chap. 5-6
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6
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Utility maximization: consumer preferences, consumer behaviour, indirect utility, money-metric utility function
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R1, Chap. 7
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7
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Choice: Slutsky equation, Properties of demand functions, revealed preferences, sufficient conditions for maximization
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R1, Chap. 8
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8
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Demand: endowments in the budget constraint, Homothetic utility functions, Inverse demand functions, continuity of demand functions
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R1, Chap. 9
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9
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Consumers` surplus: Quasilinear utility, aggregation, nonparametric bounds, Introduction to Uncertainty: Expected utility
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R1, Chap. 10-11
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10
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Uncertainty: Risk aversion, Relative risk aversion, Subjective probability theory, The Allais paradox and the Ellsberg paradox
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R1, Chap. 11
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11
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Competitive Markets: the profit maximization problem, the industry supply function, market equilibirum, Welfare economics, welfare analysis, Pareto efficiency, efficiency and welfare
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R1, Chap. 13
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12
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Monopoly: Special cases, Welfare and output, price discrimination and exercises
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R1, Chap. 14
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13
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Game Theory: Description of a game and economic modeling of strategic choices, Repeated games, Nash equilibirum, Discussion of Bayes-Nash equilibirum
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R1, Chap. 15
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14
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Oligopoly: Cournot equilibrium, several firms, Bertrand equilibrium, price leadership
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R1, Chap. 16
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Prerequisites
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-
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Language of Instruction
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Turkish
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Responsible
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Asst. Prof. Dr. Mehmet Sedat Ugur
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Instructors
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-
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Assistants
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-
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Resources
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R1. Varian, H. (1978). Microeconomic Analysis. WW Norton.
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Supplementary Book
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AR1. Mas-Colell, A.; M. D. Whinston & J. R. Green (1995). Microeconomic Theory, OUP
AR2. Nicholson, W. & C. Snyder (2009). Intermediate Microeconomics, SW College Pub.
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Goals
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The aim of this course is to analyze microeconomic problems more mathematically and to give students the ability to analyze advanced microeconomic problems and functions.
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Content
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This course covers the topics such as production technology, profit maximization, cost minimization, profit and cost functions, maximization of utility, preferences, demand, uncertainty and market analysis.
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Program Learning Outcomes |
Level of Contribution |
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1
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To develop new knowledge accumulation on acquired graduate proficiency in economics and other disciplines at expertise level.
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4
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2
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To be able to contribute to the literature via developing consistent approaches on economic issues point of view analytical and scientific.
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4
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3
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To gain oral and written academic communication proficiency using foreign language.
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-
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4
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To use software packages (SPSS, E-views, etc.) used in analysing economic issues at advance level.
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-
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5
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To build models using quantitative and graphical methods and to make empirical studies to test them.
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4
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6
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To analyse how economic actors affect each other by examining their decision-making processes.
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4
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7
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Contributing to the advancement of the field by bringing innovation to the field of economics, carrying out an original work developing a new idea, method or practice independently or by teamwork
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3
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8
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To gain awareness of social, scientific and professional ethics.
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-
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9
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Gain the ability to conduct academic studies both individually and as a group in both economic and interdisciplinary fields, and make unique presentations for oral and written work at national and / or international meetings
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-
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10
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Having the ability to keep interest and demand alive in the field of economics and to determine the deficiencies of knowledge in this field and to carry out researches to fill these deficiencies.
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3
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