Academic Year/course:
2017/18
417 - Degree in Economics
27420 - Microeconomics III
Syllabus Information
Academic Year:
2017/18
Subject:
27420 - Microeconomics III
Faculty / School:
109 - Facultad de Economía y Empresa
Degree:
417 - Degree in Economics
ECTS:
6.0
Year:
3
Semester:
First semester
Subject Type:
Compulsory
Module:
---
5.1. Methodological overview
The learning process is based on the following items:
- Theoretical presentation with the active participation of students in the subjects under study.
- Resolution of exercises.
- Homework established by the teacher..
5.2. Learning tasks
The program is designed in order to achieve the expected results and includes theoretical class attendance and homework and personal study.
5.3. Syllabus
Part I. Consumer theory and individual demand.
1. Duality in consumer theory.
1.1. Hicksian demand functions.
1.2. Indirect utility function and expenditure function.
1.3. Shephard’s Lemma, Roy’s identity and Slutsky’s equation.
1.4. Restrictions on consumer demand and integrability.
2. Price changes and consumer’s welfare.
2.1. Consumer surplus, equivalent variation, and compensating variation.
2.2. Price index and true price index.
Part II. General equilibrium and welfare.
3. Walrasian equilibirum.
3.1 Graphic analysis and formal analysis.
3.2. Existence, uniqueness, and stability of Walrasian equilibrium.
4. General equilibrium in production.
4.1. Graphic analysis.
4.2. Marginal conditions of competitive general equilibrium.
5. General equilibrium and its basic welfare properties.
5.1. Pareto efficiency and the fundamental theorems of welfare economics.
5.2. Collective comparisons and compensating criteria.
Part III
6. Market failures.
6.1. Public goods.
6.2. Externalities.
6.3. Natural monopoly.
6.4. Public choice
Part IV
7. Introduction to social choice.
7.1. Welfare maximization.
7.2. Social welfare functions.
7.3. Arrow’s impossibility theorem.
7.4. Justice and equity.
5.4. Course planning and calendar
|
|
Theory
|
Exercices
|
Homework
|
TOTAL
|
|
Chapter 1
|
6
|
4
|
15,5
|
25,5
|
|
Chapter 2
|
3
|
3
|
9
|
15
|
|
Chapter 3
|
6
|
4
|
15,5
|
25,5
|
|
Chapter 4
|
2
|
2
|
6
|
10
|
|
Chapter 5
|
5
|
6
|
16
|
27
|
|
Chapter 6
|
5
|
5
|
15
|
25
|
|
Chapter 7
|
3
|
6
|
13
|
22
|
5.5. Bibliography and recommended resources
Gravelle, H. y Rees, R. 2006. Microeconomía. Ed. Pearson. Prentice Hall
Jehle, G.A. y Reny, P.J. 1998. Advanced Microeconomic Theory. Ed. Addison-Wesley.
Mas-Colell, A., Whinston, M. y Green, J. 1995. Microeconomic Theory. Oxford University Press.
Maté García, J. y Pérez Domínguez, C. 2007. Microeconomía avanzada. Cuestiones y ejercicios resueltos. Pearson. Prentice Hall.
Segura, J. 2002. Análisis Microeconómico. Ed. Alianza Universidad.
Varian, H.R. 1993. Análisis Microeconómico. Ed. Antoni Bosch.
Villar, A. 1999. Lecciones de Microeconomía. Ed. Antoni Bosch.