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Microeconomics

Code: 102119 ECTS Credits: 6
2024/2025
Degree Type Year
2501231 Accounting and Finances FB 2
2501232 Business and Information Technology OB 2

Contact

Name:
Amedeo Stefano Edoardo Piolatto
Email:
amedeo.piolatto@uab.cat

Teaching groups languages

You can view this information at the end of this document.


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

Learning Outcomes

  1. CM02 (Competence) Evaluate the main inequalities and discrimination based on sex/gender present in society.
  2. CMU01 (Competence) Identify the social, economic, technological and environmental implications of academic-professional activities in one's own field of knowledge.
  3. CMU15 (Competence) Identify the social, economic, technological and environmental implications of academic-professional activities in the field of knowledge.
  4. KM09 (Knowledge) Describe the most remarkable technological, organisational and spatial aspects of revolutions in the field of production, emphasising organisational changes in business.
  5. KMU01 (Knowledge) Describe the benefits reaped from commerce and exchange.
  6. KMU02 (Knowledge) Identify the forces that govern demand and supply.
  7. KMU03 (Knowledge) Differentiate equilibrium effects in regimes (markets) other than competition.
  8. KMU04 (Knowledge) Identify the constituent elements of technology and coasts.
  9. KMU05 (Knowledge) Detail the main economic indicators and their components justifying their calculation and use.
  10. KMU06 (Knowledge) Identify the aspects that affect economic growth.
  11. KMU07 (Knowledge) Relate the effects of disruptions of demand and supply in closed and open economies.
  12. KMU08 (Knowledge) Describe earnings from trade and exchange.
  13. KMU08 (Knowledge) Describe the relationship between unemployment and inflation.
  14. KMU09 (Knowledge) Identify the forces that govern supply and demand.
  15. KMU10 (Knowledge) Differentiate between equilibrium effects in different competition regimes (markets).
  16. KMU11 (Knowledge) Identify the elements comprising technology and costs.
  17. KMU12 (Knowledge) Detail the main economic indicators and their components, justifying their calculation and use.
  18. KMU13 (Knowledge) Identify the aspects affecting economic growth.
  19. KMU14 (Knowledge) Relate the effects of supply and demand disturbances on closed and open economies.
  20. KMU15 (Knowledge) Describe the relationship between unemployment and inflation.
  21. SM02 (Skill) Analyse the explanatory capacity of different theoretical models of economics, in relation to their initial assumptions, taking as reference different historical cases.
  22. SMU01 (Skill) Identify the dynamic aspects of economic activity, taking as a reference the main phases of contemporary economic growth, and the main factors that have conditioned it.
  23. SMU08 (Skill) Identify the dynamic aspects of economic activity, taking as a reference the main phases of contemporary economic growth and the main conditioning factors.

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 maximisation

II.3 Cost minimisation

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


Activities and Methodology

Title Hours ECTS Learning Outcomes
Type: Directed      
Exercises and group discussion 17 0.68 CMU01, CMU15, KM09, KMU01, KMU02, KMU03, KMU04, KMU05, KMU06, KMU07, KMU08, KMU09, KMU10, KMU11, KMU12, KMU13, KMU14, KMU15, CMU01
General lectures 32.5 1.3 CM02, CMU01, CMU15, KM09, SM02, SMU01, SMU08, CM02
Type: Supervised      
Office hours advising 15 0.6
Type: Autonomous      
Reading of texts and materials 15.5 0.62 CM02, CMU01, CMU15, KM09, KMU01, KMU02, KMU03, KMU04, KMU05, KMU06, KMU07, KMU08, KMU09, KMU10, KMU11, KMU12, KMU13, KMU14, KMU15, SM02, SMU01, SMU08, CM02
Studying, preparation and discussion of cases and exercises 65 2.6 CM02, CMU01, CMU15, KM09, KMU01, KMU02, KMU03, KMU04, KMU05, KMU06, KMU07, KMU08, KMU09, KMU10, KMU11, KMU12, KMU13, KMU14, KMU15, SM02, SMU01, SMU08, CM02

 

 

 

Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.


Assessment

Continous Assessment Activities

Title Weighting Hours ECTS Learning Outcomes
Evaluation along the course 20% 1.5 0.06 CM02, CMU01, CMU15, KM09, KMU01, KMU02, KMU03, KMU04, KMU05, KMU06, KMU07, KMU08, KMU09, KMU10, KMU11, KMU12, KMU13, KMU14, KMU15, SM02, SMU01, SMU08
Final examination 50% 2 0.08 CMU01, CMU15, KM09, KMU01, KMU02, KMU03, KMU04, KMU05, KMU06, KMU07, KMU08, KMU09, KMU10, KMU11, KMU12, KMU13, KMU14, KMU15, SM02, SMU01, SMU08
Midterm 30% 1.5 0.06

This subject/module does not offer the option for comprehensive evaluation.

 

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 in 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

The teaching faculty will select the type of evaluation activity most suitable and efficient for the individual reprogrammed evaluation activity, including oral examinations.

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 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 have achieved an average grade in 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, the 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 behaviour

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 for any student who repeatedly does not follow the rules of behaviour 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.


Bibliography

Varian, H.: Microeconomía Intermedia: Un enfoque actual.  Antoni Bosch, Barcelona. (Or the original english version)


Software

There is no need for any special software.


Language list

Name Group Language Semester Turn
(PAUL) Classroom practices 101 Catalan/Spanish first semester morning-mixed
(PAUL) Classroom practices 201 Catalan/Spanish first semester morning-mixed
(PAUL) Classroom practices 501 Catalan/Spanish first semester afternoon
(TE) Theory 10 Catalan/Spanish first semester morning-mixed
(TE) Theory 20 Catalan/Spanish first semester morning-mixed
(TE) Theory 50 Catalan/Spanish first semester afternoon