Universitat Internacional de Catalunya

Microeconomics

Microeconomics
6
14576
1
First semester
FB
Anàlisi Econòmica
Microeconomics
Main language of instruction: Catalan

Other languages of instruction: English, Spanish

If the student is enrolled for the English track then classes for that subject will be taught in the same language.

Teaching staff


Dr. TANGANELLI BERNADES, David - databer@uic.es

By appointment at slado@uic.es.

Introduction

Microeconomics is the branch of economics that studies how individuals and businesses make choices and interact in markets. By covering the principles of microeconomics, this course aims to provide students with the tools to understand trade-offs, how consumers and firms make decisions, how economic policies affect markets and outcomes, and how firms interact under different market structures. It covers a wide range of topics, including the scope and methods of economics, scarcity and choice, demand and supply, market equilibrium, elasticities, and production and cost theory.

This course is a compulsory component of the official curriculum for the degree in Business Administration and is taught primarily in English.

Pre-course requirements

This course uses mathematical techniques with which students are expected to be familiar, including first- and second-degree equations, derivatives and partial derivatives.

Additionally, as the working language of the course is English, students should have a sufficient command of English to follow the lectures and understand the course material.

Objectives

1. How to think about trade-offs

2. How consumers and firms make decisions

3. How economic policies affect markets and outcomes

4. How firms interact across different market structures

Competences/Learning outcomes of the degree programme

  • 13 - To be familiar with and understand the terms and processes of company management.
  • 21 - To be familiar with the main theories in the fields of microeconomics and macroeconomics.
  • 22 - To be able to identify the nature and behaviour of producers, consumers and investors.
  • 23 - To be familiar with and know how to use microeconomic and macroeconomic analysis terminology.
  • 24 - To be able to carry out a financial, social and historical analysis of the environment in which a company operates.
  • 31 - To develop the ability to identify and interpret numerical data.
  • 32 - To acquire problem solving skills based on quantitative and qualitative information.
  • 50 - To acquire the ability to relate concepts, analyse and synthesise.
  • 53 - To acquire the skills necessary to learn autonomously.
  • 58 - To be able to develop self-assessment exercises.
  • 64 - To be able to plan and organise one's work.

Learning outcomes of the subject

After completing the course, students should meet the following learning objectives:

1. Explain the economic way of thinking: define scarcity, opportunity cost, and the basic economic problems; distinguish positive vs. normative economics and micro vs. macro; read and interpret economic graphs.

2. Apply supply and demand analysis: derive individual and market demand/supply curves, find competitive market equilibrium, and predict how shifts in demand or supply affect price and quantity.

3. Calculate and interpret elasticities: compute price, income, and cross-price elasticity of demand and supply, and use them to analyze consumer/producer surplus and the effects of price controls or taxes.

4. Analyze firm production decisions: describe the production function, marginal/average product, and the law of diminishing returns; determine efficient input combinations.

5. Evaluate cost structures: distinguish short-run vs. long-run costs, fixed vs. variable costs, and use cost curves to understand economies of scale.

6. Apply microeconomic reasoning to real-world problems.

Syllabus

The professor reserves the right to modify the course syllabus to meet students’ needs while ensuring that the core topics of the subject are covered. A detailed course outline is provided below:


  1. Economics as a social science
  2. The scope of economics
  3. The method of economics
  4. Basic economic problems
  5. Use of graphs and slopes
  6. Resource allocation

  1. Individual demand and supply
  2. Individual and market demand and supply
  3. Competitive market equilibrium

  1. Price elasticity of demand
  2. The determinants of demand elasticity
  3. Other elasticities
  4. Elasticities and shifts in curves
  5. Elasticity and taxes

  1. The behavior of profit-maximizing firms
  2. The production function
  3. Production in the short run
  4. Production in the long run
  5. Returns to scale
  6. Cobb–Douglas production function

  1. Measuring costs
  2. Costs in the short run
  3. Costs in the long run
  4. Long-run vs. short-run cost curves
  5. Economies and diseconomies of scale
  6. Learning curves

  1. Perfect competition
  2. Profit maximization
  3. Short-run profit maximization and supply curve
  4. Long-run profit maximization and supply curve
  5. Market equilibrium

Teaching and learning activities

In person



This course is primarily based on teacher-centred methods, including lectures, direct instruction and demonstrations. In addition, it incorporates student-centred methods, in which students play an active role in the learning process. Students are expected to participate actively in class, solve problems independently, prepare each topic autonomously and collaborate with their classmates.

Evaluation systems and criteria

In person



The course is assessed through three components: continuous assessment (CA), the midterm exam (ME) and the final exam (FE). The course may be passed at either the first or second sitting, although the assessment conditions differ accordingly.

First sitting

For students who pass the midterm exam, the final grade is calculated using the following formula:

Grade = (CA × 0.15) + (ME × 0.425) + (FE × 0.425)

In this case, the final exam covers only the material taught after the midterm exam.

For students who do not pass the midterm exam, the final grade is calculated using the following formula:

Grade = (CA × 0.15) + (ME × 0.25) + (FE × 0.60)

In this case, the final exam covers the entire course.

In both cases, students must pass the final exam in order to pass the course.

Second sitting

Students who obtain a grade below 5 in the first sitting must retake the final exam. In this case, the final grade is calculated using the following formula:

Grade = (CA × 0.15) + (FE × 0.85)

The final exam covers material from the entire course.

If the grade calculated using the formula is higher than 7, the final grade will be capped at 7.

Continuous Assessment

The continuous assessment consists of exercises assigned throughout the term. Regular attendance and active participation in class are essential for performing well in this component.

Bibliography and resources

Case, K., Fair, R., and Oster, S. (2017). Principles of Microeconomics (12th ed.). Pearson.

Pindyck, R. S., and Rubinfeld, D. L. (2018). Microeconomics (9th ed.). Pearson.

Print version