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Microeconomics
Engineering & Social Sciences Program
Madrid, Spain
Dates: 1/18/24 - 6/5/24
Microeconomics
OVERVIEW
CEA CAPA Partner Institution: Universidad Carlos III de Madrid
Location: Madrid, Spain
Primary Subject Area: Economics
Other Subject Area: Accounting
Instruction in: English
Course Code: 13155
Transcript Source: Partner Institution
Course Details: Level 100
Recommended Semester Credits: 3
Contact Hours: 42
DESCRIPTION
The course focuses on the study of decision problems faced by consumers and firms, and on partial equilibrium analysis. The concepts and tools presented are at the core of Economic Theory. Practical applications are discussed to help understanding and show the potential of the theory. The use of calculus provides economic analysis with a precision and functionality very useful in professional activities.
The program includes the following topics:
I. Consumer Theory: preferences, utility functions, budget sets, demand functions, applications (labor supply, taxes, subsidies, price indices), uncertainty (expected utility, risk attitudes, risk premium, value of information).
II. Theory of the Firm: technology, production function, factors demand, cost functions, supply function.
III. Partial Equilibrium Analysis: competitive and monopolistic markets.
The program includes the following topics:
I. Consumer Theory: preferences, utility functions, budget sets, demand functions, applications (labor supply, taxes, subsidies, price indices), uncertainty (expected utility, risk attitudes, risk premium, value of information).
II. Theory of the Firm: technology, production function, factors demand, cost functions, supply function.
III. Partial Equilibrium Analysis: competitive and monopolistic markets.