IDENTIFYING DATA 2018_19
Subject (*) MICROECONOMY Code 16914113
Study programme
Double degree in Business Administration and Management and Law (2014)
Cycle 1st
Descriptors Credit. Type Year Period
6 Compulsory Third 1Q
Language
Anglès
Castellà
Català
Department Economics
Coordinator
CANO BERLANGA, SEBASTIÁN
MANZANO TOVAR, CAROLINA
GIMÉNEZ GÓMEZ, JOSÉ MANUEL
OLIVA FURES, MARTIN
ROMERO ROSELL, MARIA ANA
LLOP LLOP, MARIA
E-mail martin.oliva@urv.cat
maria.llop@urv.cat
sebastian.cano@urv.cat
carolina.manzano@urv.cat
mariaana.romero@urv.cat
josemanuel.gimenez@urv.cat
franceska.tomori@urv.cat
Lecturers
OLIVA FURES, MARTIN
LLOP LLOP, MARIA
CANO BERLANGA, SEBASTIÁN
MANZANO TOVAR, CAROLINA
ROMERO ROSELL, MARIA ANA
GIMÉNEZ GÓMEZ, JOSÉ MANUEL
TOMORI , FRANÇESKA
Web
General description This course covers various microeconomic issues. Initially, we introduce the basic theory of non-cooperative games. Then, we analyze the behavior of firms in different market structures (Monopoly and Oligopoly). Finally, we analyze the choice of an agent in an environment with uncertainty and asymmetric information.

Competences
Type A Code Competences Specific
 A1 Understand the basic micro-and macroeconomic principles involved in business management.
Type B Code Competences Transversal
 B2 Effective solutions to complex problems
Type C Code Competences Nuclear
 C1 Have an intermediate mastery of a foreign language, preferably English
 C4 Be able to express themselves correctly both orally and in writing in one of the two official languages of the URV

Learning outcomes
Type A Code Learning outcomes
 A1 Analyze the behavior of producers in different market structures.
Analyze individual decision making in situations of uncertainty.
Analyze situations of strategic interaction.
Analyze situations in which information is asymmetric.
Type B Code Learning outcomes
 B2 Draw up strategies to solve problems.
Find appropriate solutions.
Type C Code Learning outcomes
 C1 Understand instructions about classes or tasks assigned by the teaching staff.
Understand routine information and articles.
Understand the general meaning of texts that have non-routine information in a familiar subject area.
Take notes during a class.
 C4 Produce well-structured, clear and rich written texts

Contents
Topic Sub-topic
Part I: GAME THEORY
Unit 1. Static games
1.1 Normal-form game
1.2 Rationality and information
1.3 Solutions of static games in pure strategies
1.4 Solutions of static games in mixed strategies
Unit 2. Dynamic games 2.1 Extensive-form games
2.2 Solutions of dynamic games
2.3 Repeated games
Part II: MARKETS AND MARKET STRUCTURES
Unit 3. Monopoly 3.1 Concept and causes of monopoly
3.2 Monopoly profit maximization
3.3 Comparing monopoly and perfect
competition: Welfare cost of monopoly
3.4 Price discrimination
3.5 Natural monopoly
Unit 4. Oligopoly 4.1 Cournot model of duopoly
4.2 Collusion
4.3 Cartel stability
4.4 Stackelberg model of duopoly
4.5 Entry barriers
4.6 Bertrand model of duopoly
Part III: DECISION THEORY UNDER UNCERTAINTY AND ASYMMETRIC INFORMATION
Unit 5. Choice under uncertainty 5.1 Expected utility theory
5.2 Risk aversion
5.3 Applications
Unit 6. Asymmetric information 6.1 Moral hazard
6.2 Adverse selection
6.3 Signaling
6.4 Principal-agent problem

Planning
Methodologies  ::  Tests
  Competences (*) Class hours
Hours outside the classroom
(**) Total hours
Introductory activities
A1
1 1 2
Lecture
A1
42 63 105
Problem solving, exercises in the classroom
A1
B2
11 20 31
Personal attention
0.5 0 0.5
 
Practical tests
A1
B2
C1
6 1 7
Mixed tests
A1
B2
C1
C4
2 0 2
Oral tests
A1
C1
C4
0.5 2 2.5
 
(*) On e-learning, hours of virtual attendance of the teacher.
(**) The information in the planning table is for guidance only and does not take into account the heterogeneity of the students.

Methodologies
Methodologies
  Description
Introductory activities Activities designed to make contact with students, collect information from them and introduce the subject.
Lecture Description of the contents of the subject.
Problem solving, exercises in the classroom Formulation, analysis, resolution and debate of a problem or exercise related to the topic of the subject.
Personal attention Time that each teacher has to speak to pupils and resolve their doubts.



Personalized attention
Description
On the first day of classes students will receive information about how and when can they contact the professors to solve queries and questions of the subject.

Assessment
Methodologies Competences Description Weight        
Practical tests
A1
B2
C1
Continuing assessment. This subject is divided in three parts. The students will take three exams throughout the course (10% each). 30%
Mixed tests
A1
B2
C1
C4
The student will take a final exam about all the contents of the subject. It is necessary to pass the final exam to get the average with the continuing assessment (i.e., the student can only pass the course if at least a 5 on the final exam is obtained). 60%
Oral tests
A1
C1
C4
10 minuts group exposition in the class-room about one of the 6 chapters of the subject. The groups and the selection of chapters will be held during the first lecture. The grade of the group will depend on the exposition, which can be made by any of the components of the group. The presenter will be chosen by the teacher the day of the presentation. Furthermore, the teacher will make some question to the others members of the grup. Henceforth, the grade of each of the components of the group may be different. 10%
Others  
 
Other comments and second call

It is not allowed the use or possession of communication and data transmission devices during the exams.

There will be an exam (second call) with a weight of 100% of the final mark.


Sources of information

Basic Nicholson, W. , Teoría Microeconomica: Principios básicos y aplicaciones, 7ª edició, McGraw-Hill
Pindyck, R. S. i D. L. Rubinfeld , Microeconomía, 7ª edició, Prentice Hall
Varian, Hal R. , Microeconomía intermedia: un enfoque actual, 7ª edició, Antoni Bosch
Gibbons, R. , Un primer curso en teoría de juegos, , Antoni Bosch
Gadner, R. , Juegos para empresarios y economistas, , Antoni Bosch
Mochrie, R., Intermediate Microeconomics, , Palgrave
Krugman and Wells, Microeconomics, , Macmillan Learning

Complementary Gravelle, H. i R. Ress, Microeconomía, 3ª edició, Pearson Prentice Hall

Recommendations


(*)The teaching guide is the document in which the URV publishes the information about all its courses. It is a public document and cannot be modified. Only in exceptional cases can it be revised by the competent agent or duly revised so that it is in line with current legislation.