1. General information
Course:
INTERMEDIATE MICROECONOMICS
Code:
54313
Type:
CORE COURSE
ECTS credits:
6
Degree:
319 - UNDERGRADUATE DEGREE IN BUSINESS MANAGEMENT AND ADMINISTRATION (CU)
Academic year:
2023-24
Center:
401 - FACULTY OF SOCIAL SCIENCES OF CUENCA
Group(s):
30
Year:
2
Duration:
First semester
Main language:
Spanish
Second language:
Use of additional languages:
English Friendly:
Y
Web site:
Bilingual:
N
Lecturer:
FERNANDO BERMEJO PATON
- Group(s):
30
Building/Office
Department
Phone number
Email
Office hours
Gil de Albornoz, 3.17
ANÁLISIS ECONÓMICO Y FINANZAS
4214
fernando.bermejo@uclm.es
First quarter -
Monday: 11:00-12:30 and 17:00-19:30;
Tuesday: 9:00-11:00;
Second quarter -
Monday: 7:00-19:00;
Tuesday: 11:00-13:00;
Wednesday: 11:00-13:00.
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 | |
| Solving problems in a creative and innovative way. | |
| Search for information, analysis, interpretation, synthesis and transmission. | |
| Know the main theories and approaches of economic analysis to be able to explain the behavior of economic agents at the micro and macroeconomic levels, as well as the imperfections that may arise in different sectors as a consequence of the economic process. | |
| Listen, negotiate, persuade and defend arguments orally or in writing. | |
| Work to form autonomous and with personal initiative. | |
| Additional outcomes | |
| Description | |
| Ultimately, the objective is for students to better understand the economic environment around themselves (which will ease or empower them for the study of other subjects of the degree, as well as for their future professional development), fostering their ability to search for and process information, work both autonomously and in teams, and express themselves correctly. | |
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 | Description | |
| Class Attendance (theory) [ON-SITE] | Lectures | E11 E13 G01 | 1.38 | 34.5 | N | N | Theoretical face-to-face class, mainly expository | |
| Class Attendance (practical) [ON-SITE] | Problem solving and exercises | E11 E13 G01 G03 G04 G05 | 0.8 | 20 | Y | 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 | Presenting and discussing a topic in class | |
| Final test [ON-SITE] | Assessment tests | E11 E13 G03 | 0.12 | 3 | 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 | 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 | 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 | 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 (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 |
| 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 |
| Final test | 65.00% | 100.00% | There will be an ordinary final test in January and an extraordinary one in June. A minimum of 4 out of 10 is required. It may include partial exams. |
| Assessment of problem solving and/or case studies | 25.00% | 0.00% | Numerical problems and critical analysis proposed by the lecturer to be handed in by the student. |
| 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 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 (which it will consist in one or several parts) in order to be able to compute the rest of the parts.
Regarding the evaluation in case of illness or other special circumstances (extenuating rules), see article 7 of the Student Evaluation Regulations of the University of Castilla-La Mancha. -
Non-continuous evaluation:With regard to non-continuous assessment, and in accordance with section b of point 4.2. of the 2022 Student Regulations, any student may change to the non-continuous assessment mode, by the procedure established by the lecturer, provided that he/she has not participated during the period of classes in assessable activities that together account for at least 50% of the total assessment of the subject. If a student has reached this 50% of evaluable activities or if, in any case, the class period has ended, he/she will be considered in continuous assessment without the possibility of changing assessment mode.
The evaluation will be carried out with a final test that will include the specific tests considered necessary to evaluate all the competences of the subject.
Regarding the evaluation in case of illness or other special circumstances (extenuating rules), see article 7 of the Student Evaluation Regulations of the University of Castilla-La Mancha.
Specifications for the resit/retake exam:
It will consist of several written and oral tests, on all the contents of the subject with an assessment of 100% of the final mark.
Specifications for the second resit / retake exam:
It will consist of several written and oral tests, on all the contents of the subject with an assessment of 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] | 34.5 |
| Class Attendance (practical) [PRESENCIAL][Problem solving and exercises] | 20 |
| Project or Topic Presentations [PRESENCIAL][Cooperative / Collaborative Learning] | 2.5 |
| Final test [PRESENCIAL][Assessment tests] | 3 |
| Study and Exam Preparation [AUTÓNOMA][Self-study] | 40 |
| 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] | 25 |
| Global activity | |
|---|---|
| Activities | hours |
| General comments about the planning: | The lecturer will make available to the students a more detailed planning of the subject on the Moodle platform at the beginning of the course. |
10. Bibliography and Sources
