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Course Description Course Name : Mathematical Economics I Course Code : IEM 707 Course Type : Optional Level of Course : Second Cycle Year of Study : 1 Course Semester : Fall (16 Weeks) ECTS : 6 Name of Lecturer(s) : Asst.Prof.Dr. CEVAT BİLGİN Learning Outcomes of the Course : Solves utility maximization problem and interprets the results Solves expenditure minimization problem and explains the results Explains profit maximization Analyses cost minimization Identifies the properties of profit and cost functions Mode of Delivery : Face-to-Face Prerequisites and Co-Prerequisites : None Recommended Optional Programme Components : None Aim(s) of Course : Analysing and understanding relations among economic factors by using mathematical methods, setting up and evaluating economic models Course Contents : Utility maximization, expenditure minimization, technology, profit maximization, cost minimization Language of Instruction : Turkish Work Place : in class   Course Outline /Schedule (Weekly) Planned Learning Activities Week Subject Student's Preliminary Work Learning Activities and Teaching Methods 1 Consumer preferences and introduction to utility maximization Reading the textbook Lecture and discussion 2 Marshallian demand functions and indirect utilit function Reading the textbook Lecture and discussion 3 Expenditure miinimization: Hicksian demand faunctions and expenditure function Reading the textbook Lecture and discussion 4 Some important identities and Roy´s identity Reading the textbook Lecture and discussion 5 Slutsky equation Reading the textbook Lecture and discussion 6 Introduction to technology: production factors, isoquant curve Reading the textbook Lecture and discussion 7 Production plan, input requirement set, prıduction function, tarnsformation function Reading the textbook Lecture and discussion 8 Midterm Exam 9 Monotonic and convex technologies Reading the textbook Lecture and discussion 10 Technical rate of substitution and elasticity of substitution Reading the textbook Lecture and discussion 11 Introduction to profit maximization Reading the textbook Lecture and discussion 12 Factor demand functions and indirect profit function Reading the textbook Lecture and discussion 13 Properties of demand and supply functions Reading the textbook Lecture and discussion 14 Cost minimization Reading the textbook Lecture and discussion 15 Conditional factor demand functions and cost function Reading the textbook 16/17 Final exam   Required Course Resources Resource Type Resource Name Recommended Course Material(s)  Microeconomic Analysis, H.R.Varian, Norton, Third Edition, 1992  Intermadiate Microeconomics; H.R.Variani, Norton, Seventh Edition, 2006 Required Course Material(s)   Assessment Methods and Assessment Criteria Semester/Year Assessments Number Contribution Percentage     Mid-term Exams (Written, Oral, etc.) 1 70     Homeworks/Projects/Others 2 30 Total 100 Rate of Semester/Year Assessments to Success 40   Final Assessments 100 Rate of Final Assessments to Success 60 Total 100   Contribution of the Course to Key Learning Outcomes # Key Learning Outcome Contribution* 1 Explains Econometric concepts 1 2 Equipped with the foundations of Economics, develops Economic models 5 3 Models problems using the knowledge of Mathematics, Statistics, and Econometrics 2 4 Acquires the ability to analyze, benchmark, evaluate and interpret at conceptual levels to develop solutions to problems 4 5 Collects, edits, and analyzes data 4 6 Uses advanced software packages concerning Econometrics, Statistics, and Operation Research 0 7 Develops the ability to use different resources in an area which has not been studied in the scope of academic rules, synthesizes the information gathered, and gives effective presentations 3 8 Speaks Turkish and at least one other foreign language in accordance with the requirements of academic and business life. 4 9 Questions traditional approaches and their implementation and develops alternative study programs when required 4 10 Recognizes and implements social, scientific, and professional ethic values 4 11 Gives a consistent estimate for the model and analyzes and interprets its results 2 12 Takes responsibility individually and/or as a member of a team; leads a team and works effectively 2 13 Defines the concepts of statistics, operations research and mathematics. 2 14 Knowing the necessity of life-long learning, follows the latest developments in the field of study and improves himself continiously 1 15 Follows the current issues, and interprets the data about economic and social events. 3 16 Understands and interprets the feelings, thoughts and behaviours of people and expresses himself/herself orally and in written form efficiently 1 * Contribution levels are between 0 (not) and 5 (maximum).   Student Workload - ECTS Works Number Time (Hour) Total Workload (Hour) Course Related Works     Class Time (Exam weeks are excluded) 14 3 42     Out of Class Study (Preliminary Work, Practice) 14 6 84 Assesment Related Works     Homeworks, Projects, Others 2 6 12     Mid-term Exams (Written, Oral, etc.) 1 2 2     Final Exam 1 2 2 Total Workload: 142 Total Workload / 25 (h): 5.68 ECTS Credit: 6