
Microeconomics II
Code: 102336Credits: 6
| Degree programme | Type | Course |
|---|---|---|
| Business Administration | OB | 2 |
| Economics | OB | 2 |
Contact lecturer
- Name :
- Mikhail Drugov Plitman
- Email :
- mikhail.drugov@uab.cat
Group languages
You can consult this information at the end of the document.
Prerequisites
It is recommended that students have already passed the following courses:
Introduction to Economics
Mathematics I and II
Microeconomics I
Objectives
The aim of this courseis to understand the basic tools of microeconomic analysis and to become able to apply them.
The topics that will be covered inlcude:
Markets (competitive and monopolistic), equilibrium, welfare analysis.
Learning outcomes
Business Administration
- CM28 (Resolve equilibria by interpreting their meaning in the field of economics and business.) Resolve equilibria by interpreting their meaning in the field of economics and business.
- KM25 (Study the role of uncertainty in consumer and business decision-making.) Study the role of uncertainty in consumer and business decision-making.
- SM27 (Associate the company's technological structure with the cost structure, describing the translation processes.) Associate the company's technological structure with the cost structure, describing the translation processes.
- SM28 (Differentiate between different market structures by analysing their effects on sales and profits of companies and on consumer welfare.) Differentiate between different market structures by analysing their effects on sales and profits of companies and on consumer welfare.
- SM29 (Develop synthesis capacities in the microeconomic field.) Develop synthesis capacities in the microeconomic field.
Economics
- CM25 (Resolve equilibria by interpreting their meaning in the field of economics and business.) Resolve equilibria by interpreting their meaning in the field of economics and business.
- KM21 (Study the role of uncertainty in consumer and business decision-making.) Study the role of uncertainty in consumer and business decision-making.
- SM23 (Associate the company's technological structure with the cost structure, describing the translation processes.) Associate the company's technological structure with the cost structure, describing the translation processes.
- SM24 (Differentiate between different market structures by analysing their effects on sales and profits of companies and on consumer welfare.) Differentiate between different market structures by analysing their effects on sales and profits of companies and on consumer welfare.
- SM25 (Develop synthesis capacities in the microeconomic field.) Develop synthesis capacities in the microeconomic field.
Contents
MICROECONOMICS II SYLLABUS
Note: In each topic we indicate the corresponding chapter of the book “Intermediate Microeconomics”, 9th edition, see Bibliography.
Topic I: The general equilibrium model of pure exchange
I.1 Edgeworth box and the Walrasian equilibrium (ch. 32)
I.2 Efficient allocations in the Pareto sense and the two fundamental theorems of welfare economics (chap. 32)
Topic II: Profit Maximization and Cost Minimization
II.1 Cost curves (chap. 22) (Exclude the following sections: Example: The marginal curves of two factories; Cost curves in Internet auctions; Discrete values in plant size.)
II.2 The maximization of profit: the input demand functions and the supply function (chap. 20)
II.3 Profit Maximization and Cost Functions (Chap. 23)
Topic III: Competitive markets
III.3 Aggregate demand and supply and elasticities (chap. 15; chap. 24)
III.4 The equilibrium in the competitive market (chap. 16.1 to 16.5)
III.5 Consumer and producer surplus (chap. 14.1 to 14.7; 14.9 to 14.11)
III.6 The efficiency of the competitive market and the distorting role of taxes (chap. 16.6 to 16.9)
Topic IV: Non-competitive markets: Monopoly
IV.1 The maximization of profit (chap. 25)
IV.2 Causes, efficiency and regulation of monopolies (chap. 25)
IV.3 Price discrimination (chap. 26.1 to 26.4)
Include simple numerical examples of price discrimination with two types of consumers and two units per consumer (not in Varian). Exclude section Two-part tariffs.
Topic V: Imperfectly Competitive Markets: Oligopoly and Strategic Interactions
V.1 The Cournot equilibrium (ch. 28)
V.2 The Stackelberg equilibrium (ch. 28)
V.3 Price competition and the Bertrand paradox (chap. 28.6)
V.4. Price competition with differentiated goods (Nicholson and Snyder, ch. 15, "Product Differentiation", see Bibliography)
Topic VI. Notions of the economics of information
VI. 1 Adverse selection and signaling (chap. 38.1 to 38.3, and 38.6)
VI.2 Moral hazard (chap. 38.4, 38.5 and 38.7)
Learning activities and methodology
| Title | Hours | ECTS | Learning outcomes |
|---|---|---|---|
| Text reading | 13 | 0.52 | |
| Lectures | 32.5 | 1.3 | |
| Study, preparation and discussion of exercises | 77.5 | 3.1 | |
| Tutorials | 5 | 0.2 | |
| Exercises and group discussion | 17 | 0.68 |
- For the groups taught in the 2nd semester(all except group 60 of ADE + Law)
- Teaching will be on campus.
- All the teaching material will be available exclusively in digital format in the Moodle classroom of the course
- For group 60 (ADE + Law), which is taught in the 1st semester
- Teaching will be offered on campus.
- All teaching material will be available exclusively in digital format in the Moodle classroom of the course.
Assessment
Continuous assessment activities
| Title | Weight | Hours | ECTS | Learning outcomes |
|---|---|---|---|---|
| Partial examination | 35 % | 1.5 | 0.06 | CM25, CM28, KM21, KM25, SM23, SM24, SM25, SM27, SM28, SM29 |
| Other evaluation exercises | 15 % | 1.5 | 0.06 | CM25, CM28, KM21, KM25, SM23, SM24, SM25, SM27, SM28, SM29 |
| Final Exam | 50 % | 2 | 0.08 | CM25, CM28, KM21, KM25, SM23, SM24, SM25, SM27, SM28, SM29 |
The completion of assessment activities is subject to the provisions set out in this course guide and in the "Policy of the School of Economics and Business on the Detection of Irregularities during Assessment Activities", which regulates the conditions under which assessment tasks are conducted and the procedures applicable in cases where indications of irregularities are detected. Students are encouraged to consult the policy.
Evaluation process
1. Continuous evelauation
The evaluation process will consist of a final examination with a weight of 50%, a partial examination, with a weight of 35% and, at least, an additional evaluation activity.
A student that takes part on any of the evaluation activities and turns in the activity for grading cannot be considered for a \"Not Evaluable\" status.
Calendar of evaluation activities
The dates of the evaluation activities (midterm exams, exercises in the classroom, assignments, ...) will be announced well in advance during the semester.
The date of the final exam is scheduled in the assessment calendar of the Faculty.
\"The dates of evaluation activities cannot be modified, unless there is an exceptional and duly justified reason why an evaluation activity cannot be carried out. In this case, the degree coordinator will contact both the teaching staff and the affected student, and a new date will be scheduled within the same academic period to make up for the missed evaluation activity.\" Section 1 of Article 264. Calendar of evaluation activities (Academic Regulations UAB).
Students of the Faculty of Economics and Business, who in accordance with the previous paragraph need to change an evaluation activity date must process the request by filling out an Application for exams' reschedule: e-Formulari per a la reprogramació de proves.
Grade revision process
After all grading activities have ended, students will be informed of the date and way in which the course grades will be published. Students will be also be informed of the procedure, place, dateand time of grade revision following University regulations.
Retake Process
\"To be eligible to participate in the retake process, it is required for students to have been previously been evaluated for at least two thirds of the total evaluation activities of the subject.\" Section 2 of Article 261. The recovery (UAB Academic Regulations). Additionally, it is required that the student to have achieved an average grade of the subject greater than or equal to 3.5 and less than 5.
The date of the retake exam will be posted in the calendar of evaluation activities of the Faculty. Students who take this exam and pass, will get a grade of 5 for the subject. If the student does not pass the retake, the grade will remain unchanged, and hence, student will fail the course.
The grading of the retake examination will be qualitative, with two possible results: “pass” or “no pass”. If the grade is “pass”, the grade will be equal to 5. If the grade is \"no pass\", the student will not pass the subject and his final grade will be the existing grade prior to the retake examination.
Irregularities in evaluation activities
In spite of other disciplinary measures deemed appropriate, and in accordance with current academic regulations, \"in the case that the student makes any irregularity that could lead to a significant variation in the grade of an evaluation activity, it will be graded with a 0, regardless of the disciplinary process that can be instructed. In case of various irregularities occur in the evaluation of the same subject, the final grade of this subject will be 0\". Section 11 of Article 266. Results of the evaluation. (UAB Academic Regulations).
Standards of behavior
Aside of any other disciplinary measures that are considered to be adequate, and in line with the current academic rules, the professor may reduce the average grade obtained in the \"additional evaluation activities\" by up to 2 points out of 10 to any student who repeatedly does not follow the rules of behavior in class. The professor will announce these rules at the beginning of the course.
2 Comprehensive evaluation:
2.1COMPREHENSIVE EVALUATION (Art. 265 of the UAB Academic Regulations)
By requesting the comprehensive evaluation the student waives the option of continuous evaluation.
The comprehensive evaluation must be requested at the Academic Management (Gestió acadèmica) of the Campus where the degree/master's degree is taught. The request must be filed according to the procedure and the deadline established by the administrative calendar of the Faculty of Economics and Business.
Attendance :
- Student attendance is mandatory on the day of the comprehensive assessment. The date will be the same as that of the final exam of the semester as per the evaluation calendar published by the Faculty of Economics and Business and approved by the Faculty's Teaching and Academic Affairs Committee. The duration of the comprehensiveassessment must be specified in the characteristics of such activity.
- 100% of the evaluation evidences must be handed in by the student on the day of the comprehensive assessment.
- The evaluation evidences carried out in person by the student on the same day of the comprehensive assessment must have a minimum weight of 70%.
The following information referring to the characteristics of the comprehensive assessment must beincluded. We suggest incorporating the following table:
| Evidence Type (1) | Weight in the final assessment (%) (2) | Duration of the activity | Is the activity that corresponds to this evaluation evidence to be carried out in person on the date scheduled for the comprehensive evaluation? (YES/NO) (3) |
| EXAM | 100% | ||
| TOTAL | 100% |
(1) Descriptive title of each piece of evidence (exam, problem sets solving, case analysis, activity carried out using specific software that the student is expected to know,...)
(2) Weight of the evidence in the final mark of the subject (specify the percentages of each evaluation evidence that the student must undertake)
(3) For each piece of evidence: Is the activity that corresponds to this evaluation evidence to be carried out in person on the date scheduled for the comprehensive evaluation? (YES/NO)
2.2 RETAKE PROCEDURE :
For the retake procedure, no distinction is made between students who have followed the continuous evaluation and those who have opted for the comprehensive evaluation. All will be re-assessed using the same test or evaluation evidence.
2.3 REVIEW OF THE FINAL QUALIFICATION:
The review of the final qualification will follow the same procedure as for the continuous evaluation
Bibliography
Varian, H.. Intermediate microeconomics: a modern approach, W.W. Norton and Company Inc. , 9th edition.
Nicholson, W. and Snyder, Ch. Microeconomic Theory: Basic Principles and Extensions, Cengage Learning, 11th edition.
Software
There is no need for any particular software.
Course groups and languages
The information provided is provisional until November 30. After this date, you will be able to consult the language of each group through this link. To access the information, you will need to enter the course CODE
| Type of teaching | Group | Language | Semester | Shift |
|---|---|---|---|---|
| (TE) Theory | 1 | Catalan | second semester | morning-mixed |
| (PAUL) Classroom practices | 1 | Catalan | second semester | morning-mixed |
| (TE) Theory | 2 | Catalan | second semester | morning-mixed |
| (PAUL) Classroom practices | 2 | Catalan | second semester | morning-mixed |
| (TE) Theory | 4 | English | second semester | morning-mixed |
| (PAUL) Classroom practices | 4 | English | second semester | morning-mixed |
| (TE) Theory | 8 | English | second semester | morning-mixed |
| (PAUL) Classroom practices | 8 | English | second semester | morning-mixed |
| (TE) Theory | 51 | Catalan | second semester | afternoon |
| (PAUL) Classroom practices | 51 | Catalan | second semester | afternoon |
| (TE) Theory | 52 | Catalan | second semester | afternoon |
| (PAUL) Classroom practices | 52 | Catalan | second semester | afternoon |
| (TE) Theory | 60 | Catalan | first semester | morning-mixed |
| (PAUL) Classroom practices | 60 | Catalan | first semester | morning-mixed |