Name: ECONOMIC ANALYSIS OF THE FIRM
Code: 212101002
Type: Compulsory
ECTS: 4
Length of subject: Per term
Semester and course: 1st Year - First term
Speciality:
Language: English
Mode of study: On-site class
Lecturer data: TOBARRA GONZÁLEZ, MIGUEL ÁNGEL
Knowledge area: Fundamentos del Análisis Económico
Department: Economía, Contabilidad y Finanzas
Telephone: 968325625
Email: miguel.tobarra@upct.es
Office hours and location:
Qualifications/Degrees:
Academic rank in UPCT: Profesor Titular de Universidad
Number of five-year periods: 5
Number of six-year periods: 0
Curriculum Vitae: Full Profile
Responsible for the groups: G1, G2
1. Estimate demand functions and interpret the parameters obtained in the estimation
2. Predict the prices that will be in the different markets according to their structure
3. Adopt measures that improve the competitiveness of companies
4. Solve economic problems with the tools of economic analysis
5. Apply strategies in the company, from maximizing profits to adopting socially responsible policies
6. Managing and Analyzing Economic Data, both at the business and macroeconomic levels, that may affect the companies, markets and sectors in which they are located
Economic Analysis of demand and cost of the firm. Profit optimization. Market structure and price policies. I+D+i in firm decisions making. Cooperative and non-cooperative models. Analysis of the relevant economic environment for the firm
Unit 1
Theme 1. Introduction
1.1. Contents of firm economics
1.2. Firm behaviour framework
1.3. Ethics and social responsibility of firms
Unit 2
Theme 2. Demand
2.1. Individual demand
2.2. Market demand
Unit 3
Theme 3. Technology and costs
3.1. Technology and production
3.2. Costs of the firm
Unit 4
Theme 4. Market structures and Price policies
4.1. Pure competition
4.2. Monopoly and market power
4.3. Price policies
Unit 5
Theme 5. Strategic behaviour
5.1. Thinking strategically
5.2. Cooperative and non-cooperative behaviour
1. Introduction
Acquisition of FADESA by MARTINSA. Mistakes made in this commercial transaction will be analysed in the context of the real state sector.
2. Demand
Demand function estimate. Data and statistic programs will be used to estimate a demand function which parameter estimation has to be interpreted
3. Technology and Costs
How Priceline.com revolutionized the travel industry. Firm case in which Innovation, adaptation to change and adverse circumstances overcome have allowed the success of the firm
4. Market structure and price policies
Industrial structure of the Region of Murcia. Macroeconomic and microeconomic indicators will be used to analyse the situation and trend of one sector of the industry of the Region of Murcia
Strategic behaviour
The Cartel. The strategic behavior of the firm will be analysed. Colusion versus competition. Non-observance of laws. Possibility of not respecting cartel agreements.
Promoting the continuous improvement of working and study conditions of the entire university community is one the basic principles and goals of the Universidad Politécnica de Cartagena. Such commitment to prevention and the responsibilities arising from it concern all realms of the university: governing bodies, management team, teaching and research staff, administrative and service staff and students. The UPCT Service of Occupational Hazards (Servicio de Prevención de Riesgos Laborales de la UPCT) has published a "Risk Prevention Manual for new students" (Manual de acogida al estudiante en materia de prevención de riesgos), which may be downloaded from the e-learning platform ("Aula Virtual"), with instructions and recommendations on how to act properly, from the point of view of prevention (safety, ergonomics, etc.), when developing any type of activity at the University. You will also find recommendations on how to proceed in an emergency or if an incident occurs. Particularly when carrying out training practices in laboratories, workshops or field work, you must follow all your teacher's instructions, because he/she is the person responsible for your safety and health during practice performance. Feel free to ask any questions you may have and do not put your safety or that of your classmates at risk.
Class in conventional classroom: theory, problems, case studies, seminars, etc
Explanation of more theoretical aspects through a master class supported by ICT.
Training sessions to develop practical or applied knowledge based on case studies, exercises, problems, practices, etc
This activity is associated with all learning outcomes.
32
100
Class in the field or open classroom (technical visits, lectures, etc.).
Case studies, practices solving
Attendance at seminars given by renowned professionals
This activity is associated with the learning outcomes 3 and 5
2
100
Class in a computer classroom: practical classes / internships
Activities to be done at a computer class
This activity is associated with the learning outcomes 1 and 6
4
100
Assessment activities (continuous assessment system)
Make exams and continuous assessment system activities
This activity is associated with all learning outcomes
2
100
Assessment activities (final assessment system)
Make exams as they are described in the corresponding convocatory
This activity is associated with all learning outcomes
2
100
Tutorials
Doubts solving
This activity is associated with all learning outcomes
2
50
Student work: study or individual or group work
Student personal work to make practices, case studies and individual survey
Individual study of the subject by the student
This activity is associated with all learning outcomes
56
0
Exam
The exam consist of two parts. The first one, with 20 multiple choice questions and a value of 7 points. Each multiple choice question has three possible answers, two wrong and one correct. Two wrong answers penalize one correct answer. Non answered questions do not penalize. The second part, with one or two long questions theoretical-practical and a value of 3 points.
To overcome the subject, it is required to get at least 3 points (out of ten) in this exam.
This activity is associated with all learning outcomes.
35 %
Evaluation of written work, internships, cases, visits and seminars.
Case sudies, exercises, practical cases, multiple choice questions and other activities are included.
Assessment criteria will be specified for each activity when they are proposed to the students. They can be solved at the classroom or the professor will indicate a delivery date (personal work of the student at home).
This activity is associated with all learning outcomes.
30 %
Performance, presentation and defense of individual and/or group work.
Individual survey about a subsector of the industry of the Region of Murcia based on the indicators explained at class. The student has to explain these indicators, obtain data for the proposed subsector, show and analyse their trend. All these suposses 8 points out of ten. The other two points corresponds to personal contributions (for the proposed subsector) of the student. Oral presentation of the survey can be required.
This activity is associated with the learning outcomes RA24 y 6.
35 %
Exam
The exam consist of two parts. The first one, that suposses 35% of the final mark, that corresponds to the exam of the continuous assessment system, with 20 multiple choice questions. Each multiple choice question has three possible answers, two wrong and one correct. Two wrong answers penalize one correct answer. Non answered questions do not penalize. To overcome the subject the student has to get at least 3 (out of ten points) in this part. The second part, with one long theoretical-practical question that suposses 30% of the final mark, that corresponds to the evaluation of practices, case studies, exercises, visits, seminars of the continuous assessment system.
This activity is associated with all learning outcomes.
65 %
Evaluation of written work, internships, cases, visits and seminars.
Individual survey about a subsector of the industry of the Region of Murcia based on the indicators explained at class. The student has to explain these indicators, obtain data for the proposed subsector, show and analyse their trend. All these suposses 8 points out of ten. The other two points corresponds to personal contributions (for the proposed subsector) of the student. Oral presentation of the survey can be required.
This activity is associated with the learning outcomes RA24 y 6.
35 %
One student overcomes the subject if the weighted average of all the assessment activities is at least 5 (out of 10).
Those students that use the final assessment system, can choose between mantaining the mark of the individual survey (of the subsector of the industry) obtained in the continuous assessment system or deliver the survey again; they can choose between mantaining the mark obtained in practices, case studies, exercises, seminars obtained in the continuous assessment system or make the long question in the final exam; they can choose between mantaining the mark obtained in the exam in the continuous assessment system (if they got a minimum of three points out of ten) or making the corresponding part in the final exam. If a student did not get three points (out of ten) in the exam in the continuous assessment system he/she has to make necessarily the corresponding part in the final exam and obtain at least 3 points out of ten to overcome the subject.
Author: Varian, Hal R.
Title: Microeconomía intermedia un enfoque actual
Editorial: Antoni Bosch
Publication Date: 2015
ISBN: 9788494107634
Author: Nicholson, W. y Snyder, C.
Title: Microeconomía Intermedia y sus aplicaciones
Editorial: CENGAGE
Publication Date:
ISBN:
Web pages and data set indicated by the professor
Aula virtual