Course code: 176204 | Subject title: MICROECONOMICS | ||||
Credits: 6 | Type of subject: Basic | Year: 1 | Period: 2º S | ||
Department: Economics | |||||
Lecturers: | |||||
GARCIA PRADO, ARIADNA MARÍA [Mentoring ] |
Demand and Supply Analysis. Production and Cost Theory. Perfect Competition. Imperfect Competition.
CB1:Students should prove that they have the knowledge of an area that is already studied at the high school level, but that in the university level is based on more advanced handbooks, including aspects in the vanguard of knowledge of the field.
CB2:Students should be able to apply their knowledge to their work in a professional way. They should be also able to show the usual proficiencies by means of making and defending their positions, and solving problems in their area of study.
CG01:Capacity to analyze and summarize.
CG02: Capacity to organize and planify
CG03: Oral and writting communication in their mother tong.
CG05: Knowledge of computing in relation with their area of study.
CG07: Capacity to solve problems
CG08: Capacity to make decisions
CG09: Capacity to work in a team
CG18: Capacity to adapt to new situations.
CE01: Understanding of the economic institutions as a result and applicacion of theoretical or formal representations regarding the functioning of the economy.
CE04: Using professional criteria for the economic analysis, specially those based on the use of technical tools.
CE07: Contributing to the good management of the allocation of resources both in the private and in the public sectors.
CE09: Contributing with a rational analysis to the description of whatever aspect of the economy.
General:Scarcity and resource assigment, price system, theory of consumption and production, non-competitive markets, economic efficiency and theory of welfare.
Specific
1) Theoretical basis of decision-making
2) Microeconomic models, industrial economy, imperfect competition markets, and economic regulation
Content
Basic Model of perfect competition. The problem of production ( technology, cost functions, benefit maximization, firm supply curve, partial equilibrium, Eficiency ( Consumer, producer and social surplus), comparative statics ( effects of changing taxes, imposing maximum prices etc...). Models of imperfect Competition ( Monopoly, Oligopoly, Price discrimination).
All the learning outcomes are related to the training activities and evaluation systems mentioned in the corresponding sections.
ALLOCATION OF THE ECTs CREDITSATRIBUCIÓN DE LA CARGA ECTS
ACTIVITY / HOURS
PRESENTIAL 60
NOT PRESENTIAL 90
Part 1 - Introduction To Microeconomics
1. Analyzing Economic Problems
2. Demand and Supply Analysis
Part 2- Production and Cost Theory
3. Inputs and Production Functions
4. Costs and Cost Minimization
5. Cost Curves
Part 3 - Perfect Competition
6. Perfectly Competitive Markets
7. Competitive Markets: Applications
Part 4 - Market Power
8. Monopoly, Monopsony and Oligopoly
Access the bibliography that your professor has requested from the Library.
Besanko, D. and R. Braeutigam. “Microeconomics” (2008, Third Edition), International student version, Wiley ed.
Pindyck, R.S. and Rubinsten. "Microeconomics" (2013, Eighth Edition), International edition. Pearson ed.