Show adequate understanding of the methodology in Economic Analysis as well as its aims and scope, identifying its main components: economic agents, models, variables and data.
Correctly use the basic terminology of an economist in describing topics in the field of Microeconomics
Correctly describe and interpret any decision problem of an economic agent, consumer or producer, using verbal reasoning, graphic representations and mathematical analysis (calculus and basic algebra).
Model formally any non-dynamic decision problem of an individual economic agent as a conditional optimization problem, identifying the relevant endogenous and exogenous variables, obtaining a quantitative solution (behaviour equations), and explaining how the solution could change when the economic environment changes (comparative statics).
Reasonably predict the result and determinants of the interaction of numerous economic agents in competitive markets in the short-term, and to describe the resulting equilibria and disequilibria with adequate verbal, graphical and mathematical tools
Carry out normative analysis and economic policy recommendations
Learn autonomously and produce written reports according to the established guidelines.
Microeconomics I is the first economic theory course in the curriculum, and establishes the foundation on which future contents will be developed later during the degree. The course is structured in three parts. The first one introduces the basic concepts of microeconomics, like supply, demand and markets. The second part is devoted to consumer theory and demand, and the third part focuses on producer behaviour and the determinants of market supply.
All this constitutes a logical and conceptual knowledge pack which will be later complemented and expanded in Microeconomics II and other related courses in the curricula which comprise the development of the student.