Subject
Microeconomics
General details of the subject
- Mode
- Face-to-face degree course
- Language
- English
Description and contextualization of the subject
The course focuses on the relationship between economic agents when there is strategic interaction between them and imperfect competition. It also studies the decisions of economic agents in contexts of uncertainty.The concepts and results presented in the course are illustrated with numerous examples and applications to markets and economic situations.
Teaching staff
| Name | Institution | Category | Doctor | Teaching profile | Area | |
|---|---|---|---|---|---|---|
| CIARRETA ANTUÑANO, AITOR | University of the Basque Country | Profesorado Catedratico De Universidad | Doctor | Not bilingual | Fundamentals of Economic Analysis | aitor.ciarreta@ehu.eus |
| GOROSTIAGA ALONSO, MIREN ARANTZAZU | University of the Basque Country | Profesorado Agregado | Doctor | Bilingual | Fundamentals of Economic Analysis | arantza.gorostiaga@ehu.eus |
Competencies
| Name | Weight |
|---|---|
| Analizar y entender los conceptos y principios que rigen el comportamiento del consumidor en situaciones en la que las decisiones de numerosos agentes económicos interactúan | 50.0 % |
| Comprender los principios económicos que rigen el funcionamiento de los mercados en situaciones de competencia perfecta e imperfecta | 50.0 % |
Study types
| Type | Face-to-face hours | Non face-to-face hours | Total hours |
|---|---|---|---|
| Lecture-based | 30 | 45 | 75 |
| Seminar | 20 | 30 | 50 |
Training activities
| Name | Hours | Percentage of classroom teaching |
|---|---|---|
| Exercises | 10.0 | 100 % |
| Expositive classes | 20.0 | 100 % |
| Reading and practical analysis | 75.0 | 0 % |
| Tutorials | 20.0 | 100 % |
Assessment systems
| Name | Minimum weighting | Maximum weighting |
|---|---|---|
| Practical tasks | 20.0 % | 40.0 % |
| Written examination | 60.0 % | 80.0 % |
Learning outcomes of the subject
Analyse and understand the concepts and principles governing consumer behaviour in situations where the decisions of numerous economic agents interact.Understand the economic principles governing the functioning of markets in situations of perfect and imperfect competition.
Ordinary call: orientations and renunciation
The evaluation is continuous. It consists of submission of exercises during the course and a final exam (first call). The exercises are solved either individually or in teams depending on the degree of difficulty. The final exam consists of problems related to the theoretical content of the course.Failure to appear for the final exam will result in a grade of "No-show" in the final grade.
Extraordinary call: orientations and renunciation
In the second call, there will be an exam to be taken.Failure to appear for this exam will result in a grade as "No-show" in the minutes of that exam.
Temary
1- Game Theory1.1- Games in normal form: simultaneous-move games
1.2- Games of incomplete information
1.3- Games in extensive form: sequential-move games
1.4- Games with imperfect information
1.5- Dynamic games
2- Imperfect competition
2.1- The monopolist¿s decision problem
2.2- Oligopolistic competition
2.3- Product differentiation
2.4- Market regulation
3- Choice under risk
3.1- Expected utility theory
3.2- Risk aversion and its measurement
3.3- Applications: Portfolio selection, risk sharing, insurance and other applications
Bibliography
Basic bibliography
- Andreu Mas-Colell, Michael D. Whinston and Jerry R. Green, 1995, Microeconomic Theory, Oxford University Press.In-depth bibliography
- R. Gibbons, 1992, Game Theory for Applied Economists, Princeton University Press.- S. Martin, 2002, Advanced Industrial Economics, Blackwell Publishers.
- G.A. Jehle and P.J. Reny, 2001, Advanced Microeconomic Theory, Addison Wesley, Boston.
- R. Serrano and A. M. Feldman 2012, A Short Course in Intermediate Microeconomics with Calculus, Cambridge University Press.