1. General information
Course:
INTERMEDIATE MICROECONOMICS
Code:
53313
Type:
CORE COURSE
ECTS credits:
9
Degree:
316 - UNDERGRADUATE DEGREE IN ECONOMICS
Academic year:
2022-23
Center:
5 - FACULTY OF ECONOMICS AND BUSINESS
Group(s):
10
17
Year:
2
Duration:
AN
Main language:
Spanish
Second language:
English
Use of additional languages:
English Friendly:
Y
Web site:
Bilingual:
N
Lecturer:
CARMEN CORCOLES FUENTES
- Group(s):
10
17
Building/Office
Department
Phone number
Email
Office hours
Facultad de CC. Econ. y Empr., 3.02.
ANÁLISIS ECONÓMICO Y FINANZAS
926053012
Carmen.Corcoles@uclm.es
Information will be posted on the Virtual Campus
Lecturer:
NURIA GOMEZ SANZ
- Group(s):
10
17
Building/Office
Department
Phone number
Email
Office hours
Facultad de CC. Econ. y Empr., 3.23
ANÁLISIS ECONÓMICO Y FINANZAS
926053549
Nuria.Gomez@uclm.es
Information will be posted on the Virtual Campus
2. Pre-Requisites
This subject works on models built on the knowledge acquired in the introductory subject taught in first year.
3. Justification in the curriculum, relation to other subjects and to the profession
This subject is part of the module Economic Analysis, within the area of Microeconomics.
It will be taught along both semesters in the second course of the Economics Degree. During the first semester the subject focuses on the analysis of the consumer, building the demand function. During the second semester, the firm profile is analysed, individually and within its market context. How market characteristics shape firms behaviour and the main concepts in general equilibrium and welfare economics are also studied in the second semester.
4. Degree competences achieved in this course
| Course competences | |
|---|---|
| Code | Description |
| E04 | Analytical skills to identify and anticipate relevant economic and legal issues and the different alternative solutions. |
| E05 | Ability to contribute to the establishment of strategies which will allow for the efficient allocation of resources, the generation of wealth and a suitable distribution of income. |
| E06 | Application of profesional criteria to the analysis of problems, based on the use of technical tools. |
| E10 | Ability to design and implement policies and strategies promoting competition and market restructuring. |
| E14 | Understand how a market economy works, determine output levels, employment and the general price level as well as equilibrium price in different market structures. |
| G01 | Possession of the skills needed for continuous, self-led, independent learning, which will allow students to develop the learning abilities needed to undertake further study with a high degree of independence. |
| G03 | Develop oral and written communication skills in order to prepare reports, research projects and business projects and defend them before any commission or group of professionals (specialised or non-specialised) in more than one language, by collecting relevant evidence and interpreting it appropriately so as to reach conclusions. |
| G04 | Ability for the use and development of information and communication technology in the development of professional activity. |
5. Objectives or Learning Outcomes
| Course learning outcomes | |
|---|---|
| Description | |
| Know the main theories of economic analysis to understand the behaviour of economic agents at micro and macro level | |
| Listen to and defend arguments orally or in writting | |
| Work autonomously and with personal initiative. | |
| Work out problems in creative and innovative ways. | |
| Additional outcomes | |
| Description | |
| 1. Understand the behaviour of the economy from a microeconomic perspective. 2. Determine the equilibrium for the consumer. Calculate the individual and the market demand function 3. To relate the firm production function to the cost functions for both short and long term. 4. To determine the productive factors demand that minimize costs and those that maximize benefits or the firm. 5. Calculate the production level that maximize benefits for the producer and the supply function for firms in a competitive market. 6. To understand the characteristics and implication of different market structures: perfect competition, monopoly and oligopoly. 7. Calculate equilibrium in different market structures: perfect competition, monopoly and oligopoly. 8. To think like an economist, considering two strands: a) Analyse the economic reality on the basis of the explained theoretical models referred to the behaviour of different economic agents and different market structures; b) Understand and assimilate the economic analysis method to be able to apply it to new problems: modelling by deductive logic. 9. Get to know a wide range of economic concepts and tools used in other subjects and professional studies: costs, demand, elasticity, equilibrium, interdependence,... 10. Use TIC |
|
6. Units / Contents
-
Unit 1: Object, method, history and microeconomic models
-
Unit 2: Demand, supply and market: Revision of key concepts
-
Unit 3: Rational choice and consumer equilibrium
-
Unit 4: From consumer equilibrium to individual demand
-
Unit 5: Market demand
-
Unit 6: Alternative approaches, complements and applications
-
Unit 7: Production and technology
-
Unit 8: Costs and supply
-
Unit 9: Production equilibrium: Benefit maximization and supply
-
Unit 10: Perfect competition
-
Unit 11: Monopoly and its regulation
-
Unit 12: Oligopoly
-
Unit 13: General equilibrium and welfare
7. Activities, Units/Modules and Methodology
| Training Activity | Methodology | Related Competences (only degrees before RD 822/2021) | ECTS | Hours | As | Com | Description | |
| Class Attendance (theory) [ON-SITE] | Lectures | E04 E05 E06 E10 E14 | 2 | 50 | N | N | Face-to-face theory class, mainly explanatory | |
| Class Attendance (practical) [ON-SITE] | Problem solving and exercises | E04 E05 E06 E10 E14 | 1 | 25 | Y | N | Face-to-face problems solving class, devoted to exercises and collaborative work | |
| Writing of reports or projects [OFF-SITE] | Self-study | E04 E05 E06 E10 E14 G01 G03 G04 | 3 | 75 | N | N | Theory and problems solving study required to solve proposed exercises | |
| Practicum and practical activities report writing or preparation [OFF-SITE] | Problem solving and exercises | E04 E05 E06 E10 E14 G01 G03 G04 | 1.5 | 37.5 | Y | N | Resolution of proposed exercises and theoretical questions | |
| Study and Exam Preparation [OFF-SITE] | Self-study | E04 E05 E06 E10 E14 G01 | 1.38 | 34.5 | N | N | ||
| Final test [ON-SITE] | Assessment tests | E04 E05 E06 E10 E14 G03 | 0.12 | 3 | Y | Y | ||
| Total: | 9 | 225 | ||||||
| Total credits of in-class work: 3.12 | Total class time hours: 78 | |||||||
| Total credits of out of class work: 5.88 | Total hours of out of class work: 147 | |||||||
As: Assessable training activity Com: Training activity of compulsory overcoming (It will be essential to overcome both continuous and non-continuous assessment).
8. Evaluation criteria and Grading System
| Evaluation System | Continuous assessment | Non-continuous evaluation * | Description |
| Final test | 70.00% | 70.00% | Witin the ordinary season a partial exam takes place in January and another in May-June.The second exam will be for the whole of the subject if the first exam did not achieved a minimum of 4 over 10. |
| Assessment of problem solving and/or case studies | 20.00% | 30.00% | Tasks provided by the teacher, and two controls, one per term. |
| Assessment of active participation | 10.00% | 0.00% | Active participation in class and continuity in the tasks. |
| Total: | 100.00% | 100.00% |
According to art. 4 of the UCLM Student Evaluation Regulations, it must be provided to students who cannot regularly attend face-to-face training activities the passing of the subject, having the right (art. 12.2) to be globally graded, in 2 annual calls per subject , an ordinary and an extraordinary one (evaluating 100% of the competences).
Evaluation criteria for the final exam:
-
Continuous assessment:The course follows an evaluation system based on the assessment of various training activities handed along the course and an exam. To this end, attendance and participation in class will be assessed throughout the course, as well as the perseverance and quality of the work and exercises presented, together with the exams or tests that will take place throughout the course.
A minimum mark of 5 out of 10 in the joint assessment is required to pass the course. Likewise, the student will have to pass a minimum mark of 4 out of 10 in the final exam to allow the consideration of the continuous evaluation activities. The exam includes multiple-choice questions, developmental topics and numerical exercises. Those students who, even though they have carried out evaluable activities, wish to be evaluated using the non-continuous evaluation criteria must inform the teacher before the end of the class period.
Regarding the evaluation in case of illness or other special circumstances (extenuating rules), see the Student Evaluation Regulations of the University of Castilla-La Mancha. -
Non-continuous evaluation:Those students who opt for non-continuous evaluation must communicate it before the end of the class period following the mechanism established by the teacher.
The evaluation will be carried out with a final exam that will include those specific parts necessary to evaluate all the competences of the subject.
Regarding the evaluation in case of illness or other special circumstances (extenuating rules), see the Student Evaluation Regulations of the University of Castilla-La Mancha.
Specifications for the resit/retake exam:
Similar to the final exam.
Specifications for the second resit / retake exam:
In the special final assessment, the final written exam will account for 100% of the final grade, being necessary to pass the course a minimum score of 5 out of 10.
9. Assignments, course calendar and important dates
| Not related to the syllabus/contents | |
|---|---|
| Hours | hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 50 |
| Class Attendance (practical) [PRESENCIAL][Problem solving and exercises] | 25 |
| Writing of reports or projects [AUTÓNOMA][Self-study] | 75 |
| Practicum and practical activities report writing or preparation [AUTÓNOMA][Problem solving and exercises] | 37.5 |
| Study and Exam Preparation [AUTÓNOMA][Self-study] | 34.5 |
| Final test [PRESENCIAL][Assessment tests] | 3 |
| Global activity | |
|---|---|
| Activities | hours |