Microeconomics II

Code:

LEC106

Acronym:

MIC II

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2005/2006 - 2S

Active?	Yes
Web Page:	http://www.fep.up.pt/disciplinas/LEC106/
Responsible unit:	Grupo de Economia
Course/CS Responsible:	ECONOMICS

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
ECO	653	Official Curricular Structure since 2004	1	3		-

Objectives

In this subject we intend to provide students with a solid and complete basis of Microeconomics, so that they can be easily understand other subjects ahead in their graduation programme.

Program

1. The firm.
1.1.Technology and production.
1.2.Cost minimisation and cost function.

1.3.Revenue analysis.
1.4. The firm and its objectives. Profit maximisation.

2.Market structures.
2.1.Perfect competition.
Profit maximisation. Welfare maximisation. Perfect competition as a paradigm. Short term equilibrium. Long term equilibrium. Application: taxes and subsidies.
2.2. Monopoly. Monopoly inefficiency. Multiplant monopoly. Price discrimination. Some concepts of regulation: price caps.

2.3. Monopolistic competition. Chamberlin’s model. Spatial models.

2.4. Oligopoly. Cournot and Stackelberg models. Collusion. Bertrand model. Price leadership.

Main Bibliography

Besanko, David, and Braeutigam, Ronald (2002): Microeconomics- An integrated approach, Wiley.
Barbot and Castro (1997): Microeconomia, 2nd edition, McGrawHill.

Complementary Bibliography

Varian, Hal (2002): Intermediate Microeconomics - A Modern Approach, 6th edition, Norton.
Nicholson, Walter (2002): Microeconomic Theory: Basic Principles and Extensions, The Dryden Press, Harcourt Brace College Publishers.

Teaching methods and learning activities

Theoretical-pratical courses

Evaluation Type

Evaluation with final exam