MicroeconomicsSillabus

Fənn kodu

IF-2603y

Kredit

10

Tələbənin iş yükü

210

Semestr

Yaz semestri

Akademik il

2025-2026

Fənnin tipi

Məcburi

Təhsil forması

Əyani

Tədris dili

İngilis

Auditoriyadaxili saatlar

a)Of these, 45 hours are allocated to lectures and b) 45 hours to practical classes.

Auditoriyadan kənar saatlar

Students’ independent work (SIW) is 210 hours.

The teaching of the subject “Microeconomics” is planned to include 90 hours of classroom hours. Of these, 45 hours are allocated to lectures and 45 hours to practical classes. Students’ independent work (TSI) is 210 hours. This includes SI – the performance and submission of independent work, preparation for lectures, seminars, laboratory classes, and colloquiums. Students are given 1 to 5 independent tasks or 2-5 students are given 1 independent task in groups. Each of the independent tasks is evaluated on a scale of 1-10, and a total of 10 points are allocated for the semester. If necessary, students may be given 1 free assignment with a larger and more scientific content. At this time, that free assignment is evaluated on a 10-point scale. At the end of the semester, the student's attendance in the subject is evaluated with 10 points, practical classes and colloquiums with 30 points, and free assignments with 10 points. The remaining 50 points in the subject are determined by the exam. The teaching load is planned to be fulfilled in the 1st semester. The teaching of the subject results in an exam. The educational program provides for 10 credits for the subject.

• mühazirə
• interaktiv müzakirə
• seminar
• case study
• təqdimatlar
• komanda işi

1. 1

   CLO 1: Foundations of Microeconomic Theory: • Identifies and enumerates the fundamental concepts of microeconomics, market laws, and economic categories. Model Building and Economic Relations: • Explains the mechanism of supply and demand, interprets market processes, and describes individual consumer and firm behavior. Applied Analysis and Market Indicators: • Applies microeconomic models to calculate market equilibrium, price elasticity, and the supply and demand responses of individual firms. Diagnostics of Firm and Market Behavior: • Analyzes and compares firm behavior across different market structures, including perfect competition, oligopoly, and monopoly. The Practical Application of Microeconomic Models and the Substantiation of Decision-Making: Develops alternative decision options suitable for specific economic situations and correlates market conditions with theoretical models. Policy Interpretation and Evaluation: • Evaluates and justifies the outcomes of economic decisions in terms of market efficiency and social welfare

1. 1.
   Introduction to microeconomics. The subject and methodology of microeconomics. Economic systems.Mühazirə

   General characteristics of the role and importance of economic theory in social life. The evolution of economists' views on the "essential" concept of economic thought. The interaction of economic theory with other sciences. Economic policy. The roots of economic thought: Teachings of ancient world thinkers. The first important economic schools of world civilization. The main directions of modern economic thought. Contributions of world scientists to economic science. Various economic schools about economic theory. Methodology of economic theory and its specificity. Levels of economic research in economic theory. Economic categories and laws. Basic economic concepts. Human models in economic theory. Teachings on the environment of human life activity. Economic systems of society: concept, content, classification.

2. 2.
   Market. Market structure and infrastructure: essence and main elements.Mühazirə

   Main forms of public economy and their models. Commodity (market) economy. Multiple definitions of the market. Evolution of views on the market. Market economy. The essence of the market: functions and role in the economic system. Classification of the market. Market structure and multi-criteria nature of the system. The essence, formation and main elements of market infrastructure. Stock exchanges and their role in the market economy.

3. 3.
   Elements of the market system: commodity and money.Mühazirə

   Commodity and its properties. K. Marx's teaching on the dual nature of labor embodied in a commodity. Value, valuableness, utility. Labor theory of value and theory of marginal utility. The essence of money, its concepts and functions. The law of money circulation. Monetary systems.

4. 4.
   The essence, elements, laws of the market.Mühazirə

   Characteristics of the market mechanism and the basic laws of the market. The law of demand and the law of decreasing demand. Elasticity of demand. The law of supply and the law of change in supply. Elasticity of supply. Market equilibrium. The law of demand and supply.

5. 5.
   Economic institutions and property in a market economy.Mühazirə

   The essence of economic institutions and their role in the market economy system. Property as an economic and legal category. Theories of property. Types and forms of property in the modern economy. Denationalization and privatization. Experience of foreign countries.

6. 6.
   The role of price in ensuring market equilibrium.Mühazirə

   Equilibrium price, demand price and supply price. A. Marshall's Price Theory. Determination of equilibrium price in the short and long term. Spider web theorem. Price formation in the theory of K. Marx. State regulation of prices in a market economy. The impact of taxes on the price level. Distribution of tax burden.

7. 7.
   Competition and market dominance. Antitrust regulation.Mühazirə

   Competition: concept and types. Efficiency of competitive markets. Monopoly and oligopoly. Market dominance. Antitrust regulation.

8. 8.
   Production. Theory of factors of production and distribution of factor incomes.Mühazirə

   The main factors of production. Dependence of production growth on the use of factors of production. Theory of factor incomes and their functional distribution.

9. 9.
   Production costs.Mühazirə

   Production costs: accounting and economic approaches. Production costs in the short run. Fixed costs. Variable costs. Total costs. Marginal costs. Production costs in the long run. Production costs and scale effects. Isocost. Minimization of production costs.

10. 10.
    Individual reproduction: the movement of enterprise resources.Mühazirə

    Capital and capital investments (investments). The movement of investment resources of the enterprise: capital circulation. Capital turnover. Fixed and working capital. Discounting as a method of evaluating investment projects.

11. 11.
    Alternative theories of the firm.Mühazirə

    Traditional theory of the firm: profit maximization. Total revenue. Marginal revenue. Managerial theory of the firm: sales revenue maximization. Profit maximization Growth maximization theory. Behavioral theories of the firm: multiple-goal theories.

12. 12.
    Theory of consumer behavior. Factors of uncertainty in microeconomics.Mühazirə

    Risk theory. Consumer behavior and utility of goods. Cardinalist theory of consumer behavior. Efficient choice of the consumer under uncertainty and risk. Ordinalist theory of consumer behavior. Income effect and substitution effect according to J. Hicks and Y. Slutsky. Consumer choice based on the analysis of the characteristics of product elements. The essence and causes of economic risks. Types of losses. Structure of losses and their causes. Risk indicator and methods of its assessment. Risk curve. Risk management methods.

13. 13.
    Firm behavior in conditions of perfect, imperfect competition and monopoly.Mühazirə

    Models of market structures. Perfectly competitive market model. Demand, supply and income of a competitive firm. Firm equilibrium in the short run. Conditions for maximizing firm income. Firm and industry supply in the long run. Perfect competition and social efficiency. Firm behavior in conditions of monopolistic competition. Firm behavior in conditions of oligopoly. Bargaining models. Oligopoly models: lack of bargaining. Monopoly and its modern model. Firm behavior in conditions of pure monopoly. Equilibrium of a monopoly firm in the short and long run. Price discrimination. Monopoly and society.

14. 14.
    Price formation in the market of factors of production: labor market.Mühazirə

    Demand and supply in the market of factors of production. Equilibrium of firms in the market of factors of production. Price of labor and labor. Features of price formation in the labor market under conditions of perfect competition.

15. 15.
    Price formation in the market of factors of production: capital market and land market.Mühazirə

    Capital: traditional and modern interpretations. Features of price training in the capital market. Land and land rent. Features of price formation in the land market.

1. Economic theory. Microeconomics - 1,2: Textbook / General editorship of Honored Scientist of the Russian Federation, Professor, Doctor of Economic Sciences G.P. Zhuravlyova. - 4th edition, revised and supplemented. - M.: "Dashkov and Co" Publishing and Trading Corporation, 2010. - 924 p.
2. Fundamentals of microeconomics. 12th edition. ISBN 0134078810 / Case Carl E., Fair Ray C., Oster Sharon E. / Pearson Education Inc 2017.
3. Fundamentals of Economics: Textbook. / N. Gregory Mankiw, Harvard University. / CBS Polygraphy Production 2007.