1. General information
Course:
INTERMEDIATE MICROECONOMICS
Code:
54313
Type:
CORE COURSE
ECTS credits:
6
Degree:
317 - UNDERGRADUATE DEGREE IN BUSINESS MANAGEMENT AND ADMINISTRATION
Academic year:
2019-20
Center:
5 - FACULTY OF ECONOMICS AND BUSINESS
Group(s):
12
13
Year:
2
Duration:
First semester
Main language:
Spanish
Second language:
English
Use of additional languages:
English Friendly:
Y
Web site:
Bilingual:
N
Lecturer:
FABIO MONSALVE SERRANO
- Group(s):
13
Building/Office
Department
Phone number
Email
Office hours
Despacho 3.21
ANÁLISIS ECONÓMICO Y FINANZAS
+34926053105
fabio.monsalve@uclm.es
To be determined in student's intranet
Lecturer:
JORGE ENRIQUE ZAFRILLA RODRIGUEZ
- Group(s):
12
13
Building/Office
Department
Phone number
Email
Office hours
Facultad de CC. Econ. y Empr., 3.01
ANÁLISIS ECONÓMICO Y FINANZAS
+34926053227
jorge.zafrilla@uclm.es
Se informará en Campus Virtual
2. Pre-Requisites
No prerequisites have been established. However, it is recommended to have passed the Introductory Economics course in order to take the Intermediate Microeconomics course.
3. Justification in the curriculum, relation to other subjects and to the profession
The Intermediate Microeconomics course is taught in the first semester of the second year of the Degree in Business Administration and Management. The course continues with the basic formation in economic theory started in Introductory Economics, and its fundamental objective is provide the students with the insights to grasp the rationality behind economic agents, The analysis of economic reality implies the theoretical systematization of human and social behaviour facing the problem of resource' scarcity and decision making when there is some alternative courses of action.
This course delves into the development of concepts and skills acquired by students in the Introduction to Economics course. In the program, the study of the behavior in the market of the different economic agents -consumers and companies- from which the functions of demand and supply, individual and market, are derived will be reviewed in order to progress in the analysis of the functioning of the different market structures (perfect competition, monopoly, monopolistic competition and oligopoly).
Throughout the course of the Bussines Administration Degree, as well as in the professional development of the people who study this career, it is essential to have some fundamental knowledges to understand the economic environment in which the professional activity will be take place, the essences of the behaviour of the economic agents in order to improve the economic reality.
4. Degree competences achieved in this course
| Course competences | |
|---|---|
| Code | Description |
| E11 | Know the workings and consequences of the different economic systems |
| E13 | Ability to make logical representative models of the business reality |
| 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 to use and develop information and communication technologies and to apply them to the corresponding business department by using specific programmes for these business areas. |
| G05 | Capacity for teamwork, to lead, direct, plan and supervise multidisciplinary and multicultural teams in both national and international environments so as to create synergies which benefit organisations. |
5. Objectives or Learning Outcomes
| Course learning outcomes | |
|---|---|
| Description | |
| Search for information in order to analyze it, interpret is meaning, synthesize it and communicate it to others. | |
| Get to know the main theories and schools in economic analysis in order to be able to explain the agents¿ behaviour at micro and macroeconomic levels, together with the imperfections that could come from different economic sectors as a result of the economic process. | |
| Listen, negotiate, convince and defend arguments both in oral and writing ways. | |
| Work out problems in creative and innovative ways. | |
| Work autonomously and with personal initiative. | |
| Additional outcomes | |
| Description | |
| 1. Understand how the economy works from a microeconomic perspective. 2. Calculate both the individual and market demand functions. 3. Relate the production functions of the firm with the cost functions both in the short and long term. 4. Determine the demands for production factors that minimise costs and those that maximise profit for the company. 5. Calculate the level of production that maximizes profits for the producer and the supply function of the competitive firm (short and long term). 6. Know how the different types of market work: perfect competition, monopoly, monopoly competition and oligopoly. 7. Calculate the balance in the different market structures: perfect competition, monopoly and oligopoly. 8. Think like an economist"; with two aspects: i) Analyze the economic reality on the basis of the explained theoretical models referring to the behavior of the different economic agents and the different markets; ii) Know and assimilate the economic analysis method to apply it to new problems: elaboration of models through the application of deductive logic. 9. Know and handle a battery of concepts and tools common in other subjects and in professional studies: costs, demand, elasticity, equilibrium, interdependence. 10 The Use ICT. |
|
6. Units / Contents
-
Unit 1: Introduction: Object, method and microeconomic models.
-
Unit 2: Introduction to consumer theory. The demand function.
-
Unit 3: The firm and the supply function
-
Unit 4: Competitive markets: efficiency and stability.
-
Unit 5: Monopolistic markets: regulation and manifestations of monopoly power.
-
Unit 6: Oligopoly and monopolistic competition.
-
Unit 7: Factor markets and income distribution
-
Unit 8: Other microeconomic aspects
7. Activities, Units/Modules and Methodology
| Training Activity | Methodology | Related Competences (only degrees before RD 822/2021) | ECTS | Hours | As | Com | R | Description * |
| Class Attendance (theory) [ON-SITE] | Lectures | E11 E13 G01 G03 G04 G05 | 1.38 | 34.5 | N | N | N | Theoretical face-to-face class, mainly expository |
| Class Attendance (practical) [ON-SITE] | Problem solving and exercises | 0.8 | 20 | Y | N | N | Face-to-face internship class, with exercises and cooperative work | |
| Project or Topic Presentations [ON-SITE] | Cooperative / Collaborative Learning | E11 E13 | 0.1 | 2.5 | Y | N | N | Presenting and discussing a topic in class |
| Final test [ON-SITE] | Assessment tests | E11 E13 G03 | 0.12 | 3 | Y | Y | Y | Completion of a final exam to evaluate the knowledge acquired by the student. |
| Study and Exam Preparation [OFF-SITE] | Self-study | E11 E13 G01 | 1.6 | 40 | N | N | N | Development and follow-up of the elaboration of the tutorial work, as well as study of the theoretical classes and preparation of the final test. |
| Practicum and practical activities report writing or preparation [OFF-SITE] | Practical or hands-on activities | E11 E13 G01 G03 G04 G05 | 1 | 25 | Y | N | N | Application of theoretical content to practical questions |
| Writing of reports or projects [OFF-SITE] | Problem solving and exercises | E11 E13 G01 G03 G04 | 1 | 25 | Y | N | N | Practices that the teacher will make available to students and that cover both theoretical concepts and numerical applications. |
| Total: | 6 | 150 | ||||||
| Total credits of in-class work: 2.4 | Total class time hours: 60 | |||||||
| Total credits of out of class work: 3.6 | Total hours of out of class work: 90 | |||||||
As: Assessable training activity Com: Training activity of compulsory overcoming R: Rescheduling training activity
8. Evaluation criteria and Grading System
| Grading System | |||
| Evaluation System | Face-to-Face | Self-Study Student | Description |
| Final test | 65.00% | 0.00% | There will be an ordinary final test in January and an extraordinary one in June. A minimum of 4 out of 10 is required. |
| Assessment of problem solving and/or case studies | 25.00% | 0.00% | There will be an ordinary final test in January and an extraordinary one in June. A minimum of 4 out of 10 is required. |
| Assessment of active participation | 10.00% | 0.00% | Active participation in class and continuous monitoring of the subject. Non-recoverable part of the internship grade. |
| Total: | 100.00% | 0.00% | |
Evaluation criteria for the final exam:
The general assessment criterion will be the continuous assessment of students. To this end, the consistency and quality of the work and exercises presented will be evaluated throughout the course, together with the exams or tests that will be developed throughout the course.
In order to pass the course, a minimum grade of 5 out of 10 is required in the joint evaluation. Likewise, the student must pass a minimum grade of 4 out of 10 in the final test.
In order to pass the course, a minimum grade of 5 out of 10 is required in the joint evaluation. Likewise, the student must pass a minimum grade of 4 out of 10 in the final test.
Specifications for the resit/retake exam:
Same as the ordinary convocation
Specifications for the second resit / retake exam:
In the special call for completion, the final exam will be 100% of the final mark.
9. Assignments, course calendar and important dates
| Not related to the syllabus/contents | |
|---|---|
| Hours | hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 33.25 |
| Project or Topic Presentations [PRESENCIAL][Cooperative / Collaborative Learning] | 16.75 |
| Final test [PRESENCIAL][Assessment tests] | 3 |
| Study and Exam Preparation [AUTÓNOMA][Self-study] | 22 |
| Practicum and practical activities report writing or preparation [AUTÓNOMA][Practical or hands-on activities] | 25 |
| Writing of reports or projects [AUTÓNOMA][Problem solving and exercises] | 50 |
| Global activity | |
|---|---|
| Activities | hours |
10. Bibliography and Sources
