Superior

Prior to enrolling in courses at this language level, students must have completed or tested out of a minimum of 2 upper-division college-level Spanish courses at their home university in the U.S.

PROGRAM

PART 1: Objectives and Method

THEME 1: Limited Resources: Criteria and Ways for Allocation
1.1 Scarcity as a basic economic problem
1.2 Forms of economic organization
1.3 The market and price system

THEME 2: Microeconomic Models
2.1 Basic concepts: agents, merchandise and prices
2.2 Individual rationality and equilibrium
2.3 Basic model of the perfect competition

PART 2: Decisions of Consumers and Demand

THEME 3: Basic Model of Consumer Choice
3.1 Reasonable set and predisposed restriction
3.2 Preferences: curves of indifference and function of utility
3.3 The optimum choice of the individual consumer

THEME 4: The Demand of an Individual Consumer
4.1 Changes in price: substitution effect and rent effect
4.2 Demand curve of the individual consumer
4.3 Changes in rent and the prices of related goods
4.4 Changes in price and the wellbeing of the consumer

THEME 5: The Demand in the Market and Elasticity
5.1 From the individual demand to the market demand
5.2 Price elasticity
5.3 Rent elasticity and crossing elasticity

PART 3: Decisions and Offers of Companies

THEME 6: The business: Concept and Objectives
6.1 The nature of the business
6.2 Objectives and the making of decisions
6.3 Neoclassic theory of the business

THEME 7: Technology and Costs of Production: The Short Term
7.1 Technology and set of possibilities of production
7.2 Short term technological restrictions: fixed factors and variable factors
7.3 Prices of the factors and functions of the cost of short term

THEME 8: Technology and Costs of Production: The Long Term
8.1 Technological restrictions and the election of the company for the long term
8.2 The trajectory of expansion for the business
8.3 Prices of the factors and functions of costs for the long term
8.4 Relation between the functions of cost for short and long term

THEME 9: Maximization of Benefits and Offers of the Company
9.1 Functions of demand and income of the company
9.2 Maximization of benefits and offers of the company
9.3 Maximization of benefits and demands of factors
9.4 The excessive aspect of the producer

PART 4: Market and Equilibrium

THEME 10: Competitive Markets of Products
10.1 Industry offers and the equilibrium of the short term
10.2 Industry offers and the equilibrium of the long term
10.3 Value of the competitive equilibrium of a market
10.4 Intervention and applications

THEME 11: From the Product Markets to the Factor
11.1 Factor demands
11.2 Factor offers
11.3 Equilibrium and comparative static

THEME 12: Non-Competitive Markets
12.1 Non-competitive markets: a general introduction
12.2 Monopoly
12.3 Other structures of the market