1. General information
Course:
ADVANCED MICROECONOMICS
Code:
53321
Type:
CORE COURSE
ECTS credits:
6
Degree:
316 - UNDERGRADUATE DEGREE IN ECONOMICS
Academic year:
2022-23
Center:
5 - FACULTY OF ECONOMICS AND BUSINESS
Group(s):
10
17
Year:
3
Duration:
First semester
Main language:
Spanish
Second language:
English
Use of additional languages:
English Friendly:
Y
Web site:
Bilingual:
N
Lecturer:
ÁNGELA GARCÍA ALAMINOS
- Group(s):
10
17
Building/Office
Department
Phone number
Email
Office hours
Facultad de CC. Econ. y Empr., 3.22.
967599200 ext 2370
Angela.Garcia@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
The student should be familiar with the basic concepts of Economic Theory. It is also strongly recommend to have intermediate knowledges of algebra and calculus.
3. Justification in the curriculum, relation to other subjects and to the profession
The Advanced Microeconomics subject is inserted within the Economic Analysis Module, specifically, within the subject Microeconomics.
The subject is explained in the first semester of the third year of the Degree in Economics. It addresses issues related to the behaviour of economic agents; those concepts have previously been seen in Intermediate Microeconomics but in an introductory manner and that are now developed with greater analytical and conceptual rigour. In particular, the following concepts are addressed: a) the efficiency and interrelation of the markets through an analysis of the general equilibrium, with special attention to welfare economics and market failures; b) the strategic behaviour of economic agents through game theory, with special attention to the conditions of asymmetric information, adverse selection and moral hazard.
Advanced Microeconomic Theory will help the student to understand how conventional economic analysis modelized the behaviour of economic agents and the expected outcomes of such behaviour.
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. |
| 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 | |
| Know the main macroeconomic variables and the economic policy instruments. | |
| Listen to and defend arguments orally or in writting | |
| Work autonomously and with personal initiative. | |
| Work out problems in creative and innovative ways. | |
| Search for information in order to analyze it, interpret is meaning, synthesize it and communicate it to others. | |
| Additional outcomes | |
| Description | |
| * Understand the concept of Competitive General Balance, calculate it in a basic economy and link market inefficiencies with the relax of the strong assumptions of the competitive model. * Identify situations in which market failures may appear, such as in the cases of provision of public goods and externalities, as well as the mechanisms to tackle with them. * Formalize the strategic behaviour behind the economic relations and find the most fittest solution for each type of game. * Identify situations in which problems of adverse selection and moral hazard may appear and determine the most appropriate mechanisms for their resolution. * Apply the concepts learned in the subject to the analysis of economic issues of special practical relevance. |
|
6. Units / Contents
-
Unit 1: Game Theory
-
Unit 2: Auctions
-
Unit 3: Adverse Selection
-
Unit 4: Moral hazard
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 E14 G03 | 1.33 | 33.25 | N | N | Theoretical face-to-face class, where the main concetps will be presented. | |
| Class Attendance (practical) [ON-SITE] | Problem solving and exercises | E04 E05 E14 | 0.67 | 16.75 | Y | N | Resolution of problems and cases in working groups, under the supervision of the Professor. | |
| Writing of reports or projects [OFF-SITE] | Self-study | E04 E05 E14 G01 G03 G04 | 2.24 | 56 | Y | N | Practices resolution. | |
| Study and Exam Preparation [OFF-SITE] | Self-study | E04 E05 E14 | 1.64 | 41 | N | N | ||
| Final test [ON-SITE] | Assessment tests | E04 E05 E14 G03 | 0.12 | 3 | Y | Y | ||
| Total: | 6 | 150 | ||||||
| Total credits of in-class work: 2.12 | Total class time hours: 53 | |||||||
| Total credits of out of class work: 3.88 | Total hours of out of class work: 97 | |||||||
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% | 100.00% | Content evaluation test. |
| Assessment of active participation | 10.00% | 0.00% | Active participation in face-to-face classes. |
| Portfolio assessment | 20.00% | 0.00% | Practices uploaded to subjects's intranet. |
| 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 assessment criterion applied in general is the continuous evaluation of students.
For this purpose, the perseverance and quality of the work and exercises presented will be evaluated throughout the course.
Activities proposed during the course in the continuous evaluation mode are not recoverable for the extraordinary call.
A minimum grade of 5 out of 10 in the joint evaluation is required to pass the course. Likewise, Students are required to obtain a 4 (out of 10) in the final exam to allow the consideration of the Continuous evaluation activities.
Those students who, even though they have done evaluable activities, wish to be evaluated with the non-continuous evaluation criteria must communicate it to the teacher before the end of the class period.
A student who has opted for continuous evaluation in the ordinary call may choose to be evaluated by non-continuous evaluation in the extraordinary call, but not vice versa.
Final numerical grade from 0 to 10 according to RD 1125/2003.
Regarding the evaluation in case of illness or other special circumstances (extenuating rules), see article 6 of 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 see article 6 of the the Student Evaluation Regulations of the University of Castilla-La Mancha.
Specifications for the resit/retake exam:
Same as ordinary evaluation.
Specifications for the second resit / retake exam:
In the end-of-studies special evaluation the only option provided is an exam
9. Assignments, course calendar and important dates
| Not related to the syllabus/contents | |
|---|---|
| Hours | hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 33.25 |
| Class Attendance (practical) [PRESENCIAL][Problem solving and exercises] | 16.75 |
| Writing of reports or projects [AUTÓNOMA][Self-study] | 56 |
| Study and Exam Preparation [AUTÓNOMA][Self-study] | 41 |
| Final test [PRESENCIAL][Assessment tests] | 3 |
| Global activity | |
|---|---|
| Activities | hours |
10. Bibliography and Sources