Course code: 177206  Subject title: MICROECONOMICS  
Credits: 6  Type of subject: Basic  Year: 1  Period: 2º S  
Department: Economía  
Lecturers:  
ARLEGI PEREZ, RICARDO (Resp) [Mentoring ]  FERREIRA MAGALHAES, ROSINDA MANUELA [Mentoring ] 
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
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.
SP01 Understand economic institutions as a result and application of theoretical or formal representations about how the economy works.
SP04 Apply professional criteria based on the handling of technical instruments to the analysis of business management problems.
SP07 Assess the situation and foreseeable evolution of a company from the relevant records of information.
SP09 Integrate into any functional area of a company or organization and freely carry out any management task
entrusted to it.
R_EC_01. Define resource scarcity and describe the most relevant resource allocation models in economics.
R_EC_02. Defining and interpreting prices in a market economy
R_EC_03. Use the fundamentals of production theory to represent and interpret the shortterm supply in a market of a particular good or service.
R_EC_04. Define efficiency and optimality in economy and apply these concepts to different market structures.
Content
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 90minute lectures every two weeks. Single group.
 One 90minute 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
PRESENTIAL 60
NOT PRESENTIAL 90
 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.


a.
Demand. Production. The competitive market.
b. TOPICS
Introduction and basic concepts.
The individual consumer's problem (preferences, utility and individual demand).
Technology.
Cost Minimization.
Cost curves.
Competitive supply in the short term.
Industry supply. Long term equilibrium.
Imperfect competition models.
c. ACTIVITIES
Exercices and work with interactive figures made with Mathematica.
d. OTHER RESOURCES.
Internet, Aulario Virtual y Web Server.
Access the bibliography that your professor has requested from the Library.
Besanko, D. and R. Braeutigam. "Microeconomics" (2020, Third Edition), International student version, Wiley ed.
Pindyck, R. S. and Rubinsten. "Microeconomics" (2013, Eighth Edition), International edition. Pearson ed.