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EC 101 PRINCIPLES OF MICROECONOMICS SUMMER 2010 Boğaziçi Űniversitesi Tuesdays, Wednesdays, and Thursdays 9:00-9:50 and 10:00-10:50 Instructor: Assoc. Prof. Nihal Bayraktar Email: nihal.bayraktar@boun.edu.tr Office: Natuk Birkan Binasi No: NB214/ extension: 7642 Office hrs: 11:00-12:00 on Tuesdays and Wednesdays or by appointment (no office hours on June 29, 30 and July 6) Problem Session: TBA COURSE OVERVIEW EC 101 is one half of a two-semester sequence, which is designed to provide students with an introduction- level Economics. EC 101 introduces students to Microeconomics. This course will focus on basic economic theories and applications concerned with individual decision making, and the economics of buying and selling in different type of markets. It concerns how decision-making units that make up the economy (e.g., individuals, households and firms) make decisions, what influences their decisions and the effects of the decisions. COURSE GOALS To understand how to think like an economist. To identify the microeconomic aspects of a particular situation. To learn how society solves different resource allocation issues. To learn how both sellers and buyers benefit from transactions with each other. To understand how competitive markets balance demand and supply. To examine under which conditions a competitive free market will result in the most efficient allocation of fundamental resources. To learn how businesses make decisions to maximize their profit and to accomplish this purpose
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