Competencies and objectives

 

Course context for academic year 2021-22

The Advanced Microeconomics subject of the third year of the bachelor's degree in Economics gives continuity to the subjects Introduction to Microeconomics, Intermediate Microeconomics and Strategic Behavior and Economics previously studied in the first, second and third years, respectively.


We will study how individuals decide in a context of uncertainty. We will also present an introduction to games with incomplete information to later make applications in auctions, provision of public goods and others. We will make an introduction to Behavioral Economics, which is one of the areas that have experienced a major push in Economics in recent years. We will also review some aspects related to information asymmetries between agents. Finally we will focus on issues related to international trade, where we will start by looking at Ricardo's original model.

 

 

Course content (verified by ANECA in official undergraduate and Master’s degrees) for academic year 2021-22

General Competences (CG)

  • CG5 : Capacity to take decisions by applying acquired knowledge to practical situations.
  • CG8 : Analyse problems using critical reasoning, without prejudices, precisely and rigorously.
  • CG9 : Capacity to synthesise.

 

General Competences acquired at University of Alicante (CGUA)

  • CGUA1 : Read and communicate in a foreign language in a professional environment, especially in English.
  • CGUA3 : Capacity for oral and written communication.

 

Specific Competences (CE)

  • CE1 : Contribute towards the correct management of resource allocation in both the private and public context.
  • CE10 : Capacity to apply the knowledge and skills acquired to solve theoretical and applied economic problems.
  • CE11 : Analytical skills for developing theoretical frameworks that simplify study of the real economy and the capacity to set appropriate levels of abstraction when studying different economic questions.
  • CE12 : Be able to use the appropriate tools for the analysis, diagnosis and solution of economic questions and problems.
  • CE2 : Identify and anticipate relevant economic problems relating to resource allocation in general, in both the private and public context.
  • CE3 : Bring a rational approach to the analysis and description of any aspect of economic reality.
  • CE4 : Evaluate the consequences of different options for action and select the best one according to the objectives set.
  • CE9 : Understand economic institutions as the result and application of theoretical or formal representations of how the economy works.

 

 

 

Learning outcomes (Training objectives)

  • To use analytic reasoning to broach and solve economic problems.
  • To understand the reasons why international commerce is beneficial for all the countries concerned and, in particular, the theory of comparative advantage.
  • To understand the new commercial models in which production technologies employ economies of scale.
  • To understand the implications of international mobility of production factors.
  • To understand the implications of commercial policy and of economic integration processes.
  • To understand the role of uncertainty in decision making.
  • To understand the interaction between the different markets of an economy and the concept of general equilibrium and efficiency in the allocation of resources.
  • To understand the role of the state in the presence of externalities and public goods.

 

 

Specific objectives stated by the academic staff for academic year 2021-22

  • Use analytical reasoning to pose and solve economic problems
  • Understand the standard model of decision with uncertainty.
  • Understand game situations with incomplete information.
  • Understand the operation of the different types of auctions.
  • Understand the advantages of international trade and the concept of comparative advantage.

 

 

General

Code: 35020
Lecturer responsible:
Iturbe-Ormaeche Cortajarena, Iñigo
Credits ECTS: 6,00
Theoretical credits: 1,50
Practical credits: 0,90
Distance-base hours: 3,60

Departments involved

  • Dept: FOUNDATIONS OF ECONOMIC ANALYSIS
    Area: FOUNDATIONS OF ECONOMIC ANALYSIS
    Theoretical credits: 1,5
    Practical credits: 0,9
    This Dept. is responsible for the course.
    This Dept. is responsible for the final mark record.

Study programmes where this course is taught