Universidad Pública de Navarra - Nafarroako Univertsitate Publikoa

Module/Subject matter

Economic Analysis. Microeconomics.

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General proficiencies

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 analyse and summarize.

CG02: Capacity to organise and plan.

CG03: Oral and writing communication.

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.

PCG18: Capacity to adapt to new situations.

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Specific proficiencies

SP01  Understand economic institutions are as a result and application of theoretical or formal representations about how the economy works.

SP04  Use professional criteria for economic analysis, preferably those based on the handling of technical instruments.

SP07  Contribute to the good management of resource allocation in both the private and public spheres.

SP09  Contribute rationality to the analysis and description of any aspect of economic reality.

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Learning outcomes

R1: Scarcity and resource assignment, price system, theory of consumption and production, noncompetitive markets, economic efficiency and theory of welfare.

R4: Theoretical basis of decision-making.

R8: Microeconomic models, industrial economy, imperfect competition markets, and economic regulation.

Content

The Consumer problem (Preferences, Utility and Consumer Demand). General Equilibrium Model. Efficiency and Fundamental Theorems of Welfare Economics. Market Failures: externalities, public goods and information problems.

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Methodology

In the theoretical sessions, the contents will be presented by the lecturer. In some cases the students will be proposed a previous work in such a way that in the class they can work on the contents in a more interactive way. Likewise, within the theoretical sessions, exercises will be proposed and solved, some of which will be collected for assesment.

In the practical sessions, which will be developed in computer classrooms, we will work on the application of theory with exercises, as well as interactive activities.

ALLOCATION OF THE ECTS

ACTIVITY / HOURS

PRESENTIAL: 60

   - BIG GROUP: 46

   - SMALL GROUP:14

NON-PRESENTIAL: 90

   - PREPARATION AND STUDY OF CONTENTS: 40

   - INDIVIDUAL HOMEWORK: 25

   - WORK IN GROUP: Although group work is recommended, the writing and assessment will be individual. 20

   - TUTORIAL SESSIONS: 3

   - OTHER: 2 (Examination and possible revision)

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Languages

English.

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Evaluation

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Agenda

The consumer problem.

Budget restriction and preferences.

Utility Maximization. Individual demand functions.

Comparative statics and types of goods.

Substitution and Income Effects.

Consumer surplus.

Labour supply.

Market demand. Interrelated markets.

General equilibrium pure exchange.

General equilibrium with production.

Market failures: Externalities and public goods.

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Bibliography

Access the bibliography that your professor has requested from the Library.

Course handbook:

Besanko, D. Y Braeutigam, R. "Microeconomics". Wiley ed.

Other useful textbooks:

J. Puértolas y L. Llorente. "Microeconomía Interactiva II", Ed. Pirámide.

H. Varian. "Intermediate Microeconomics". Antoni Bosch.

W. Nicholson. "Microeconomic Theory". Thomson.

Pindyck and Rubinfeld. "Microeconomics". Prentice Hall.

J.M. Perloff. "Microeconomics". Pearson.

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Location

Regular classroom for theoretical sessions and computer room for the practical sessions.

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