Microeconomics
Code: 102119 ECTS Credits: 6| Degree | Type | Year | Semester |
|---|---|---|---|
| 2501231 Accounting and Finance | FB | 2 | 1 |
| 2501232 Business and Information Technology | OB | 2 | 1 |
Contact
- Name:
- Pau Olivella Cunill
- Email:
- Pau.Olivella@uab.cat
Use of Languages
- Principal working language:
- catalan (cat)
- Some groups entirely in English:
- No
- Some groups entirely in Catalan:
- Yes
- Some groups entirely in Spanish:
- No
Teachers
- Aleix Gregori Gomis
Prerequisites
It is recommended to have passed the subjects:
Introduction to Economics
Mathematics I
Mathematics II
Objectives and Contextualisation
The objective of the subject is to understand the basic concepts and tools of microeconomic analysis and become able to apply them to real world cases, such as the introduction of taxes,
the consequences of the lack of competition between companies, the effects of price regulation, or the effects of redistributing the initial endowments.
The following topics are discussed, among others:
Consumer Theory
Preferences and Utility
Consumption and Demand
Theory of Production
Markets (competitive and monopolistic)
Equilibrium with and without government intervention
Welfare analysis
Competences
- Accounting and Finance
- Analysing, summarising and assessing information.
- Efficiently searching information, discriminating irrelevant information.
- Working effectively in teams.
- Business and Information Technology
- Demonstrating a comprehension of the principles of economy and main theories and models in order to explain the economic behaviour on a microeconomic and macroeconomic level.
- Developing self-learning strategies.
- Students must be capable of analysing, summarising, organising, planning and solving problems and making decisions.
- Working in teams, sharing knowledge and communicating it to the rest of the team and the organisation.
Learning Outcomes
- Analysing in depth the determinants of the demand and the supply.
- Analysing, summarising and assessing information.
- Assessing the effect of the public sector on the activity of companies and consumers.
- Associating the technological structure of a company with the cost structure, and describing the translation processes.
- Developing self-learning strategies.
- Differentiating the balance effects in perfect and imperfect competition.
- Efficiently searching information, discriminating irrelevant information.
- Identifying the processes governing the functioning of markets in different regimes of competence and in different interrelation scenarios.
- Solving balances and interpreting its meaning.
- Students must be capable of analysing, summarising, organising, planning and solving problems and making decisions.
- Working effectively in teams.
- Working in teams, sharing knowledge and communicating it to the rest of the team and the organisation.
Content
Topic I: Consumer Theory
I.1 Preferences, Indifference curves and utility functions
I.2 The budget constraint
1.3 Optimal Choice
1.4 Typology of goods: response to changes in income and prices
1.5 Income and Substitution Effects
Topic II: Production Theory
II.1 Technology and production factors
II.2 Profit maximization
II.3 Cost minimization
Topic III: Competitive Markets
III.1 Aggregate demand and supply
III.2 Consumer and producer Surplus
III.3 Market equilibrium
III.4 The efficiency of competitive markets
III.5 Comparative statics: the burden of taxes
Topic IV: Non-Competitive Markets
IV.1 Profit maximization
IV.2 Causes, efficiency and regulation of monopolies
IV.3 Price discrimination
IV.4 Oligopoly: equilibrium notions
Topic V. The Pure Exchange General Equilibrium Model
V.1 The Edgeworth Box
V.2 Efficient assignments in the Pareto sense
V.3 Walrasian equilibrium
V.4 The fundamental theorems of welfare economics
Methodology
Teaching will be offered on campus or in an on-campus and remote hybrid format depending on the number of students per group and the size of the rooms at 50% capacity.
- Part-time teaching (50%) means that there will be groups in which half of the students will attend the Faculty on alternate weeks.
- In this case, the face-to-face classes will focus primarily on problem solving.
- All teaching material will be available exclusively in digital format in the Moodle classroom of the course.
The proposed teaching methodology may undergo some modifications according to the restrictions imposed by the health authorities on on-campus courses.
Activities
| Title | Hours | ECTS | Learning Outcomes |
|---|---|---|---|
| Type: Directed | |||
| Exercises and group discussion | 13 | 0.52 | 2, 10, 12, 11 |
| General lectures | 33 | 1.32 | 4, 6, 8, 3, 9, 10 |
| Type: Supervised | |||
| Office hours advising | 15 | 0.6 | |
| Type: Autonomous | |||
| Reading of texts and materials | 15 | 0.6 | 2, 7, 5, 10 |
| Studying, preparation and discussion of cases and exercises | 70.5 | 2.82 | 2, 7, 5, 10 |
Assessment
Evaluation process
The evaluation process will consist of a final examination with a weight of 50% and, at least, two additional evaluation activities. At least part of any of the three (or more) evaluation activities must be of the written-exam type and at least part of any of the three (or more) evaluation activities must be multiple-choice type. A student that takes part on any of the evaluation activities and turns in the activity for grading cannot be considered for a "Non Evaluable" status.
Schedule of evaluation activities
The dates of the different evaluation activities will be announced well in advance during the semester. The date of the final exam is scheduled in the examination calendar of the Faculty. "The dates of evaluation activities cannot be modified, unless there is an exceptional and duly justified reason why an evaluation activity cannot be carried out. In this case, the degree coordinator will contact both the teaching staff and the affected student, and a new date will be scheduled within the same academic period to make up for the missed evaluation activity." Section 1 of Article 115. Calendar of evaluation activities (Academic Regulations UAB). Students of the Faculty of Economics and Business, who in accordance with the previous paragraph need to change an evaluation activity date must process the request by filling out an Application for exams' reschedule https://eformularis.uab.cat/group/deganat_feie/application-for-exams-reschedule
Grade revision process
After all grading activities have ended, students will be informed of the date and way in which the course grades will be published. Students will be also informed of the procedure, place, date and time of grade revision following University regulations.
Retake Process
"To be eligible to participate in the retake process, it is required for students to have been previously been evaluated for at least two thirds of the total evaluation activities of the subject." Section 3 of Article 112 ter. The recovery (UAB Academic Regulations).
Additionally, for a student to participate in the retake process, it is required that he or she to have achieved an average grade of the subject between 3.5 and 4.9. The date of the retake exam will be posted in the calendar of evaluation activities of the Faculty. Students who take this exam and pass, will get a grade of 5 for the subject. If the student does not pass the retake, the grade will remain unchanged, and hence, student will fail the course. The grading of the retake examination will be qualitative, with two possible results: "pass" or "no pass". If the grade is "pass", the grade will be equal to 5. If the grade is "no pass", the student will not pass the subject and his final grade will be the existing grade prior to the retake examination.
Irregularities in evaluation activities
On top of any other disciplinary measures deemed appropriate, and in accordance with current academic regulations, "in the case that the student makes any irregularity that could lead to a significant variation in the grade of an evaluation activity, it will be graded with a 0, regardless of the disciplinary process that can be instructed. In case of various irregularities occur in the evaluation of the same subject, the final grade of this subject will be 0". Section 10 of Article 116. Results of the evaluation. (UAB Academic Regulations).
Standards of behavior
Aside from any other disciplinary measures that may be considered adequate, and in line with the current academic rules, the professor may reduce the average grade obtained in the "additional evaluation activities" by up to 2 points out of 10 to any student who repeatedly does not follow the rules of behavior in class. The professor will announce these rules at the beginning of the course.
The proposed evaluation activities may undergo some changes according to the restrictions imposed by the health authorities on on-campus courses.
Assessment Activities
| Title | Weighting | Hours | ECTS | Learning Outcomes |
|---|---|---|---|---|
| Evaluation along the course | 50% | 1.5 | 0.06 | 1, 2, 4, 7, 5, 6, 8, 3, 9, 10, 12, 11 |
| Final examination | 50% | 2 | 0.08 | 2, 7 |
Bibliography
Varian, H.: Microeconomía Intermedia: Un enfoque actual. Antoni Bosch, Barcelona. (Or the original english version)