Universidad Pública de Navarra - Nafarroako Univertsitate Publikoa
Public University of Navarre
| Course code: 176306 | Subject title: MICROECONOMICS II | ||||
| Credits: 6 | Type of subject: Mandatory | Year: 2 | Period: 1º S | ||
| Department: Economía | |||||
| Lecturers: | |||||
| LLORENTE ERVITI, LORETO (Resp) [Mentoring ] | |||||
Contents
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.
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.
CG18: Capacity to adapt to new situations.
Specific proficiencies
CE01 Understand economic institutions are as a result and application of theoretical or formal representations about how the economy works.
CE04 Use professional criteria for economic analysis, preferably those based on the handling of technical instruments.
CE07 Contribute to the good management of resource allocation in both the private and public spheres.
CE09 Contribute rationality to the analysis and description of any aspect of economic reality.
Learning outcomes
R1: Define resource scarcity and describe the most relevant resource allocation models in economics.
R2: Defining and interpreting prices in a market economy.
R3: Use the fundamentals of consumer theory to represent and interpret the demand in a market for a particular good or service.
R5: Define, obtain and interpret the balance in a perfectly competitive market.
R8: Define efficiency and optimality in economy and apply these concepts to different market structures.
R9: Know the main results of the welfare theory and use them to evaluate examples with real economies.
Methodology
In the theoretical sessions, the lecturer will present the contents. In some cases, the lecturer will propose to the students a previous work so that, in the class, they can work on the contents more interactively. Likewise, exercises will be proposed and solved within the theoretical sessions, some of which will be collected for assessment.
In the practical sessions, which will be developed in computer classrooms, we will work on applying theory with exercises and 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 (Exam and possible revision)
Evaluation
| Learning outcome | Evaluation system | Weight (%) | Recoverable character |
| R1, R2, R3, R5, R8, R9 | Final exam | 70% | Yes |
| R1, R2, R3, R5, R8, R9 | Exercises carried out individually and collectively, in-class and out-of-class. | 15% | Yes |
| R1, R2, R3, R5, R8, R9 | Periodical tests in the computer room | 15% | Yes |
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.
Bibliography
Access the bibliography that your professor has requested from the Library.
Course handbook:
"TheConsumer" App iOS / Android available on the App Store and Google Play
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.
Location
Regular classroom for theoretical sessions and computer room for the practical sessions.