Teaching plan for the course unit

 

 

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General information

 

Course unit name: Microeconomics

Course unit code: 364543

Academic year: 2025-2026

Coordinator: Olga Chiappinelli

Department: Department of Economics

Credits: 6

Single program: S

 

 

Estimated learning time

Total number of hours 150

 

Face-to-face and/or online activities

60

 

-  Lecture with practical component

Face-to-face and online

 

45

 

-  Problem-solving class

Face-to-face and online

 

15

Supervised project

40

Independent learning

50

 

 

Competences / Learning outcomes to be gained during study

 

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CB2 - Capacity to apply knowledge and understanding in a manner that indicates a professional approach to the work or vocation, and have competences typically demonstrated through devising and sustaining arguments and solving problems within the field of study.

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CG8 - Capacity to communicate in English and/or other foreign languages orally and in writing, comprehension skills, and mastery of specialized language.

   -

CB5 - Learning skills that are necessary to undertake further study with a high degree of autonomy.

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CG3 - Capacity for learning and responsibility (capacity for analysis, synthesis, to adopt global perspectove and to apply knowledge in practice).

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CG10 - Capacity to apply ICTs to professional activities.

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CE3 - Understanding of the structure and operation of international markets, to detect the potential implications of increasing internationalization and the new global framework.

Learning objectives

 

Referring to knowledge

— Understand the basic principles of economics.

— Acquire knowledge of the main instruments of economic theory for interpreting economic situations.

— Understand the tools and models behind the decisions made by economic agents: consumers (demand) and companies (supply).

— Understand how markets operate and how equilibrium is determined in perfect competition markets and monopoly markets.

— Discuss the conditions that justify possible public sector intervention in markets and analyse the consequences.

 

Referring to abilities, skills

— Be able to calculate different types of elasticity and understand their application to real situations.

— Learn to determine the point of market equilibrium.

— Be able to quantify consumer surplus and producer surplus and changes in welfare in different situations.

— Be able to calculate the market effects of a tax or duty.

— Learn the relationships between the production functions of a company and its total, average and marginal costs.

— Understand how competitive companies maximise profits.

 

Referring to attitudes, values and norms

— Develop an analytical and critical intellectual approach to socioeconomic phenomena.

— Acquire regular work habits by adhering to a system of continuous assessment.

— Enhance critical skills through the critical analysis of the models studied.

 

 

Teaching blocks

 

1. The consumer

1.1. The consumer

- Budgetary restrictions
- Consumer preferences: indifference curves
- Consumer equilibrium
- The price–consumption curve (PCC) and deduction of consumer demand
- The income–consumption curve (ICC) and Engel curves
- The substitution effect and income effect

 

2. Demand, supply and market equilibrium: extensions and applications

2.1. Demand and supply

— Competitive markets
— Demand curve
— Supply curve
— Market equilibrium

2.2. Welfare and efficiency

— Consumer surplus
— Producer surplus
— Market efficiency
— Efficiency and equity

2.3. Elasticities

— The price elasticity of demand
— Demand, price elasticity and revenue
— Other demand elasticities
— The price elasticity of supply

2.4. Government policies

— Controls on prices
— Taxes
— Subsidies

— Tariffs

 

2.6. Market failures

— Externalities
— Public goods and common resources
— Asymmetric information

 

3. Theory of the firm and perfect competition

3.1. Theory of the firm: production and costs

— The production function
— Production and costs
— Types of costs
— Costs in the short and the long run

3.2. Perfect competition

— Profit maximisation
— Supply curve in a competitive market
— Short-run decisions and long-run decisions
— Long-run equilibrium

4. Imperfect competition

4.1. Monopoly

— Price discrimination
— Multi-plant monopoly
— Regulation of monopoly

4.2. Oligopoly

4.3. Monopolistic competition

 

 

Teaching methods and general organization

 

The methodology is based on two main types of activity: lectures and directed learning activities.

 

First, students attend two types of lecture:
a) Lectures with a practical component, during which the lecturer presents the concepts of each topic and the theoretical tools to analyse them, providing examples of their application (3 hours per week).
b) Problem-solving classes or directed learning activities, which are used to work through numerical exercises and/or to discuss texts and specific problems related to the content covered in class. Students are expected to prepare the texts and problems in advance. They are scheduled for a total of 10 hours per semester (1 hour per week).

Second, students are required to carry out directed learning activities (outside class hours), which should include reading through the recommended bibliography and completing exercises and assignments set in class. Students should also conduct independent study, including revision of lecture notes, reading complementary texts and materials and preparing for continuous assessment tests and the final examination.
The study load is divided between the two types of activity, with approximately 100 hours devoted to the first and 50 hours to the second.

 

 

Official assessment of learning outcomes

 

Continuous assessment

Continuous assessment is the default assessment procedure for all students, except for those who, for any reason, opt not to sit the continuous assessment tests (CATs) and only take the final examination. Continuous assessment consists of two mid-term activities covering the content of the subject. The first mid-term activity covers blocks 1 and 2 of the syllabus and the second, blocks 3 and 4.

 

Each mid-term activity consists of a continuous assessment test (i.e. CATs 1 and 2) of 20 multiple-choice questions which account for 40% of the grade (four possible answers, incorrect answers being penalized with a 25% deduction) and a number of problems which account for 60%. The weighting of the different sections of each CAT is the same as that for the final examination. The dates of each CAT are posted on the Virtual Campus.

Students who obtain a mark of 4 or higher (out of 10) on a mid-term activity need not be assessed again on its content in the final exam (i.e. blocks 1 and 2 in the first mid-term activity; blocks 3 and 4 in the second).

If the mark awarded for both activities (i.e. CATs 1 and 2) is 5 out of 10 or higher, students obtain a pass grade for the subject and do not have to sit the final examination. The final grade is the weighted average of both CATs (each representing 50%).

 

Repeat assessment

The repeat assessment examination has the same structure as that of the single assessment exam and is the same for all students.

Continuous assessment results cannot be carried forward for repeat assessment.

 

Examination-based assessment

All students are entitled to single assessment, which consists of a final examination covering the whole syllabus.

Students who wish to be entered for single assessment should not complete the mid-term activities.

The final examination consists of the following types of questions, which are weighted as follows:

— Multiple-choice test of 20–30 questions (correct answers: +1 point; answers left blank: 0 points; and incorrect answers: 0.25 points). This is worth 40% of the final grade.
— Practical content and problem-solving questions. This is worth 60% of the final grade.

Students who have passed one of the two mid-term activities do not need to answer the questions corresponding to the blocks included in this activity.

Repeat assessment

The repeat assessment examination has the same structure as that of the single assessment exam and is the same for all students.

Continuous assessment results cannot be carried forward for repeat assessment.

 

 

Reading and study resources

Check availability in Cercabib

Book

Nechyba, Thomas J. Intermediate Microeconomics. An intuitive approach with calculus. Cengage. EMEA Edition. 2018

Catāleg UB  Enllaç

KRUGMAN, Paul R. and Robin WELLS. Microeconomics. 4th edition. New York:  Worth Publishers, 2015

Catāleg UB   Enllaç

MANKIW, N. Gregory. Principles of Microeconomics. 8th edition. London: Cengage Learning, 2016

Catāleg UB  Enllaç

VARIAN, Hal R. Intermediate microeconomics : a modern approach. 9th ed. New York: W. W. Norton & Co., 2014

Catāleg UB  Enllaç