The purpose of this course is to give students knowledge on intermediate microeconomics, following those acquired on Introduction to Microeconomics, in order to give them skills for the course of Microeconomics II. Students shall acquire theoretical, graphical and mathematical knowledge on economic agents and on the markets where they are integrated.
At the end, students shall understand the importance of the phenomena related to the main theoretical models used by economists to describe consumer’s behavior and the operation of the several market structures, as well as to submit, critically, the advantages and limitations of them. It is also intended that students may be able to solve problems, using mathematical formalism and to know how to frame and interpret specific situations within the models studied.
Students shall acquire the knowledge to enable them to rational decision-making, whether assuming the role of consumer, or the role of entrepreneurs.
1. Perfect Competition
2. Monopoly
3. Oligopoly and Game Theory
4. Monopolistic competition
5. Factor Markets
6. General Equilibrium and Pareto Optimum
7. Externalities, Public Goods and Government Intervention
8. Information Economics: The asymmetric information problem
The teaching methodology focuses on the following three issues: a) detailed presentation of theory behind each of the topics with mathematical determination of the main results b) resolution of numerical exercises after the theoretical exposition of each chapter and c) evaluation and discussion of specific situations gathered, for instance, from the media or from scientific papers.
Emerson, P. M. (2019). Intermediate Microeconomics. Oregon State University.
Mateus, A. & Mateus, M. (2002). Microeconomia Teoria e Aplicações (Vol. I). Lisboa: Editorial Verbo
Mateus, A. & Mateus, M. (2002). Microeconomia Teoria e Aplicações (Vol. II). Lisboa: Editorial Verbo.
Varian, H. R. (2014), Intermediate Microeconomics: A Modern Approach. New York: W. W. Norton & Company (International Student Edition).
Other elements provided to the students through moodle.
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