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COURSE INFORMATION
Course CodeCourse TitleL+P HourSemesterECTS
EKON 317WELFARE AND GENERAL EQUILIBRIUM THEORY3 + 07th Semester5

COURSE DESCRIPTION
Course Level Bachelor's Degree
Course Type Elective
Course Objective The aim of this course is to introduce equilibrium in economics and its relation with welfare theories.
Course Content Introduction, general equilibrium theory, prices and goods, limited production technology, supply and demand functions, unlimited production functions, welfare economics, time and uncertanity, economy with supply and demand harmony are the topics that will be explained.
Prerequisites No the prerequisite of lesson.
Corequisite No the corequisite of lesson.
Mode of Delivery Face to Face

COURSE LEARNING OUTCOMES
1Understands the testability of general equilibrium
2Analyses the Walrasian general equilibrium
3Understands and interprets the pareto-optimum solution
4Analyses the computable general equilibrium
5Analyses the open economy general equilibrium

COURSE'S CONTRIBUTION TO PROGRAM
PO 01PO 02PO 03PO 04PO 05PO 06PO 07PO 08PO 09PO 10PO 11
LO 00133333333333
LO 00223232323232
LO 00333333333333
LO 00423232323222
LO 00533333333333
Sub Total1315131513151315131413
Contribution33333333333

ECTS ALLOCATED BASED ON STUDENT WORKLOAD BY THE COURSE DESCRIPTION
ActivitiesQuantityDuration (Hour)Total Work Load (Hour)
Course Duration (14 weeks/theoric+practical)14342
Hours for off-the-classroom study (Pre-study, practice)14456
Mid-terms11515
Final examination11717
Total Work Load

ECTS Credit of the Course






130

5
COURSE DETAILS
 Select Year   


 Course TermNoInstructors
Details 2016-2017 Spring4HALİL TUNCA
Details 2014-2015 Fall2MUHAMMET ENSAR YEŞİLYURT
Details 2013-2014 Fall2MUHAMMET ENSAR YEŞİLYURT
Details 2010-2011 Fall1MUHAMMET ENSAR YEŞİLYURT
Details 2009-2010 Fall2MUHAMMET ENSAR YEŞİLYURT


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Course Details
Course Code Course Title L+P Hour Course Code Language Of Instruction Course Semester
EKON 317 WELFARE AND GENERAL EQUILIBRIUM THEORY 3 + 0 4 Turkish 2016-2017 Spring
Course Coordinator  E-Mail  Phone Number  Course Location Attendance
Asts. Prof. Dr. HALİL TUNCA htunca@pau.edu.tr İİBF C0104 %70
Goals The aim of this course is to introduce equilibrium in economics and its relation with welfare theories.
Content Introduction, general equilibrium theory, prices and goods, limited production technology, supply and demand functions, unlimited production functions, welfare economics, time and uncertanity, economy with supply and demand harmony are the topics that will be explained.
Topics
WeeksTopics
1 Consumer behaviour: Consumer preferences, Budget constraint, Consumer choice.
2 The concept of utility and theories, Individual and market demand: Individual demand, Income and substitution effects.
3 Production: The technology of production, Isoquants, Production with one variable input.
4 Production with two variable inputs, Returns to scale, Production functions. 3. The cost of production: Economic cost and accounting cost, Cost in the short run.
5 Cost in the long run, Production with two outputs, Learning curve.
6 General Equilibrium and economic efficiency: General equilibrium analysis, Efficiency in exchange.
7 Efficiency in production.
8 The efficiency of competitive markets.
9 Market power and unefficiency.
10 Asymmetric information and markets: Quality uncertainty and the market for Lemons, Moral Hazards.
11 Externalities and Public goods: Externalities.
12 Externalities and property rights. Private preferences for public goods.
13 Income distribution, Lorenz curve, Gini coefficient.
14 Algebreical applications.
Materials
Materials are not specified.
Resources
ResourcesResources Language
Mikro İktisat, Erdal ÜnsalTürkçe
Course Assessment
Assesment MethodsPercentage (%)Assesment Methods Title
Final Exam60Final Exam
Midterm Exam40Midterm Exam
L+P: Lecture and Practice
PQ: Program Learning Outcomes
LO: Course Learning Outcomes