Subject identification
Subject 10581 - Advanced Economics
Credits 1.2 de presencials (30 hours) 2.8 de no presencials (70 hours) 4 de totals (100 hours).
Group Group 1, 1S (Campus Extens) Teaching period 1st semester
Teaching language English
Professors
Horari d'atenció alumnes Lecturers
Starting time Finishing time Day Start date Finish date Office
Helena Isabel Ferreira Marques [email protected]
11:30h 12:30h Monday 22/09/2014 31/07/2015 DB255 (cita prèvia per e-mail) Maria Tugores Ques
16:30h 17:30h Tuesday 01/09/2014 30/09/2015 DB237
Contextualisation
The main objective of the course is to cover some general principles underlying economic theory, basically, microeconomics in order to establish the grounds for particular applications in the fields of environmental and tourism economics. Issues to be covered are: the analysis of consumer behaviour, as well as the study of welfare measures; the analysis of supply and the competitive equilibrium; and the causes of market failure, with an emphasis on the provision of public goods and on imperfect competition.
Requirements Recommendable
There are no formal requirements but it is advisable that the student has previously taken courses in mathematics (specifically calculus) and microeconomics theory.
Skills
Specific
* Competence 21: To learn how to plan economic theory models using tools that interpret the reality.
* Competence 26: To apply appropriate scientific methodologies knowing its basis.
* Competence 48: To learn to interpret the behaviour of economic agents.
Generic
* Competence 8: To convert an empirical problem in a research object and to formulate conclusion.
* Competence 18: To make decisions, to solve problems and to develop new ideas.
* Competence 19: To critically interpret and evaluate results.
Basic
* You may consult the basic competencies students will have to achieve by the end of the Master’s degree at the following address: http://estudis.uib.cat/master/comp_basiques/
Content Theme content
Topic 1. Consumer Theory
· Consumer preferences
· Consumer choice
· Duality
· Consumer demand properties and comparative static
· Revealed preference Topic 2. Welfare Measures
· Compensating and equivalent variation
· Consumer's surplus Topic 3. Firm Theory
· Production
· Costs
· Duality in production
· The profit function and profit maximization Topic 4. Competitive equilibrium
· The industry supply function
· Market equilibrium
· Welfare analysis Topic 5. Imperfect competition
· Monopoly pricing
· Price discrimination
· Static oligopoly models
· Definition
· Sub-optimality of the private provision
Teaching methodology
In-class work activities
Modality Name Typ. Grp. Description Hours
Theory classes Lecture Large group (G) To set the theoretical foundations underlying the different
units of the course. 20
Practical classes Problems Medium group (M)To set and solve examples and practical exercises related to
the contents developed in each unit. 4
ECTS tutorials Tutorial Small group (P) To solve theoretical and practical doubts. 4
Assessment Final evaluation Large group (G) Final exam. 2
At the beginning of the semester a schedule of the subject will be made available to students through the UIBdigital platform. The schedule shall at least include the dates when the continuing assessment tests will be conducted and the hand-in dates for the assignments. In addition, the lecturer shall inform students as to whether the subject work plan will be carried out through the schedule or through another way included in the Campus Extens platform.
Distance education work activities
Modality Name Description Hours
Individual self-
study Homework1 A set of practical exercises will be provided to students at the end of unit 1 to work on the issues related to consumer theory. 14 Individual self-
study Homework2 A set of practical exercises will be provided to students at the end of unit 3 to work on the issues related to welfare measures and firm theory. 13 Individual self-
study Homework3 A set of practical exercises will be provided to students at the end of unit 5 to work on the issues related to competitive equilibrium and imperfect competition.
13
Individual self-
study Homework4 A set of practical exercises will be provided to students at the end of unit 7 to work on the issues related to externalities and public goods. 10 Group self-study Studying Students are expected to work on the notes and slides related to the issues
explained throughout the course as well as with the different resources included in the bibliography section.
20
Specific risks and protective measures
The learning activities of this course do not entail specific health or safety risks for the students and therefore no special protective measures are needed.
Student learning assessment
The final mark will be calculated following the percentages shown below. However, a minimum mark of at least 4 points (over 10) is required in the final exam (final evaluation) to pass the subject. If the average grade is a passing grade, then it will not be applied the concept of recoverable in any evaluation method.
Final evaluation
Modality Assessment
Technique Extended-response, discursive examinations (retrievable)
Description Final exam.
Assessment criteria Practical exercises and theoretical questions will be provided to the student to evaluate his understanding of the theoretical basis of the course as well as his capacity to apply these concepts in a practical framework.
Final grade percentage: 50% for the training plan A Final grade percentage: % for the training plan B
Homework1
Modality Individual self-study
Technique Extended-response, discursive examinations (non-retrievable)
Description A set of practical exercises will be provided to students at the end of unit 1 to work on the issues related to consumer theory.
Assessment criteria It will be evaluated the use of the theoretical concepts related to consumer theory as well as the accuracy of the results
Final grade percentage: 14% for the training plan A Final grade percentage: % for the training plan B
Homework2
Modality Individual self-study
Technique Extended-response, discursive examinations (non-retrievable)
Description A set of practical exercises will be provided to students at the end of unit 3 to work on the issues related to welfare measures and firm theory.
Assessment criteria It will be evaluated the use of the theoretical concepts related to welfare measures and firm theory as well as te accuracy of the results.
Homework3
Modality Individual self-study
Technique Extended-response, discursive examinations (non-retrievable)
Description A set of practical exercises will be provided to students at the end of unit 5 to work on the issues related to competitive equilibrium and imperfect competition.
Assessment criteria It will be evaluated the use of the theoretical concepts related to competitive equilibrium and imperfect competition as well as the accuracy of the results.
Final grade percentage: 13% for the training plan A Final grade percentage: % for the training plan B
Homework4
Modality Individual self-study
Technique Extended-response, discursive examinations (non-retrievable)
Description A set of practical exercises will be provided to students at the end of unit 7 to work on the issues related to externalities and public goods.
Assessment criteria It will be evaluated the use of the theoretical concepts related to externalities and public goods as well as the accuracy of the results
Final grade percentage: 10% for the training plan A Final grade percentage: % for the training plan B
