|Course code: 176204||Subject title: MICROECONOMICS|
|Credits: 6||Type of subject: Basic||Year: 1||Period: 2º S|
|ARLEGI PEREZ, RICARDO (Resp)||FERREIRA MAGALHAES, ROSINDA MANUELA|
Economic Analysis. Microeconomics.
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 writing 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 application 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.
R1: Scarcity and resource assignment, price system, theory of consumption and production, non-competitive markets, economic efficiency and theory of welfare.
R4: Theoretical basis of decision-making
R8: Microeconomic models, industrial economy, imperfect competition markets, and economic regulation
Basic Model of perfect competition. The problem of production (technology, cost functions, benefit maximization, firm supply curve, partial equilibrium, Efficiency (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.
- Three 90-minute lectures every two weeks. Single group.
- One 90-minute practice session every two weeks. Students will be split up into two small groups. Proactive and Interactive student work. Exercises will be solved during the practice sessions.
ALLOCATION OF THE ECTs CREDITSATRIBUCIÓN DE LA CARGA ECTS
ACTIVITY / HOURS
NOT PRESENTIAL 90
|Resultado de aprendizaje||Sistema de evaluación||Peso (%)||Carácter recuperable|
|R1, R4, R8||Final Exam||70||Yes|
|R1, R4, R8||Intermediate exams and other activities||30||Yes|
- During the course the student will be continuously evaluated. This evaluation will be part of the final exam with a weight of %30. However, depending on how the course evolves and the student get involved this percentage could change.
- The remaining calification will be given by the final exam, which will have both a theoretical and a practical part.
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
- Market demand
- Cost minimization
- Supply function of the competitive firm in the short run
- Industry supply
- Competitive equilibrium
- The consumer problem (preferences, utility and individual demand).
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.
Campus de Arrosadia.