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ISCTE-IUL  >  Education  >  LE

Microeconomics II (1 º Sem 2016/2017)

Code: L0235
Acronym: L0235
Level: 1st Cycle
Basic: Yes
Teaching Language(s): Portuguese, English
Friendly languages:
Be English-friendly or any other language-friendly means that UC is taught in a language but can either of the following conditions:
1. There are support materials in English / other language;
2. There are exercises, tests and exams in English / other language;
3. There is a possibility to present written or oral work in English / other language.
1 6.0 36.0 h/sem 0.0 h/sem 18.0 h/sem 0.0 h/sem 0.0 h/sem 0.0 h/sem 1.0 h/sem 55.0 h/sem 95.0 h/sem 0.0 h/sem 150.0 h/sem
Since year 2016/2017
Pre-requisites Mathematics I and II and Microeconomics I (recommended)
Objectives This course aims to develop the microeconomic analysis at the intermediate level initiated in Microeconomics I, extending and applying consumer and producer theories in different market structures to different settings: intertemporal, with risk and uncertainty, in general equilibrium frameworks and with market failures.
The course contributes to reach the following sublearning goals set for the undergraduate degree in Economics:
SLG41. Students will be able to identify and replicate the main points of contemporary economic theories
SLG52. Students will demonstrate an understanding of the strong points but also the limitations of the models and techniques used in economics
Program 1. Consumer theory
1.1. Axioms of revealed preferences
1.2. Slutsky equation
1.3. Consumer surplus, compensating and equivalent variation
1.4. Consumer choice with initial endowment
2. Intertemporal choice
2.1. Consumer's intertemporal choice
2.2. Asset markets
3. Decision under uncertainty
4. General equilibrium theory
4.1. General equilibrium in a pure exchange economy
4.2. General equilibrium with production
4.3. Welfare theory
5. Market failures
5.1. Externalities
5.2. Public Goods
5.3. Asymmetric Information
Evaluation Method Performance evaluation is an on-going activity as the term progresses and includes the following elements:
- one intermediate exam (40%)
- interventions in class, including problem set resolution (10%)
- written exam in the end of the term (50%).
In order pass the course, the mark of each of the written exams cannot be below 8.0 pts. and the student must register an attendance of not less than 80%.
The evaluation is carried out through the final exam (100%).
Teaching Method The course is structured in 2 class types. Lectures (T) have the main goal of presenting the structure of microeconomic theory. Practice classes (PL) are meant for conceptual discussions and problem solving, which will include graphical representation and mathematical modeling. Tutoring hours (OT) allow students to clarify specific problems.
Observations Students are expected to participate actively throughout the semester. This means studying before classes, solving the problem sets, and complying with the course evaluation.
Basic Bibliographic Varian, Hal R. (2014), Intermediate Microeconomics: A Modern Approach, 9th edition, New York: W.W. Norton & Company.
Edição alternativa em Português: Varian, Hal R. (2010), Microeconomia intermédia, 8a edição,Verlag Dashöfer.

Complementar Bibliographic Poderá haver leituras adicionais recomendadas para partes específicas da matéria