University Micrcredential Microeconomics 2: Producer Theory, Efficiency and Markets

What is the content and purpose of this microcredential?

Microeconomics 2: Producer Theory, Efficiency and Markets is the second in a two-part series, the UC3M Microeconomics Pathway, designed to provide students with foundational analytical tools in microeconomic theory. The other microcredential, Microeconomics 1: Consumer Theory, has been taught in October and November 2025.

Both microcredentials are aimed at learners with limited or no formal background in microeconomics who are considering a master's degree in economics as a step toward careers in consulting, finance, international organizations, or the public sector.

The course supports students in learning from a leading textbook in the field: Serrano, R., & Feldman, A. M. (2018). A Short Course in Intermediate Microeconomics with Calculus (2nd ed., Cambridge University Press). This textbook balances economic intuition with analytical rigor, making it an excellent resource for preparing for graduate-level economics programs.

Do I know enough math?

One key goal of UC3M Microeconomics Pathway is to ease the transition to graduate studies in economics for students from non-economics backgrounds. However, since economics graduate programs typically require some familiarity with mathematics, it is recommended that students have a basic understanding of algebra and calculus. While this is often not an issue for students with STEM backgrounds, it may be more challenging for those from the social sciences.

To help assess your readiness, the Basics of algebra and calculus in Appendix 2 Microeconomics 2 provides a list of questions with which you should be reasonably familiar. You may have studied the topics previously—perhaps in high school or undergraduate coursework—but may need to refresh your knowledge. In this case, you will have access to resources and tutorials as part of the learning experience.

Will this course help me progress to a Master's program at UC3M or elsewhere?

Students who successfully complete microcredentials in the UC3M Microeconomics Pathway can request a confidential academic assessment, which will carry considerable weight in the admission process for the following UC3M programs:

• Master in Economics 
• Master in Economics of Competition, Regulation, and Market Analysis 

Upon request, a similar confidential assessment can also be submitted to other master’s programs at UC3M or at different institutions.

PROGRAM

Program Overview for Microeconomics 2: Producer Theory, Efficiency and Markets 

Content is based on chapters from Serrano, R., & Feldman, A. M. (2018). A Short Course in Intermediate Microeconomics with Calculus (2nd ed.), Cambridge University Press. The first edition (2013) may also be used. Another useful resource is Christopher R. Makler, Intermediate Microeconomics: An Interactive Exploration.

• 1. (Chapter 8) Single-input model: Production function, returns to scale; competitive firm’s problem, focusing on output, focusing on input
• 2. (Chapter 9) Long-run, multiple-input model: Production function; marginal rate of technical substitution; returns to scale; cost minimization; profit maximization
• 3. (Chapter 10) Short-run, multiple-input model: Production function; returns to scale; cost minimization; profit maximization
• 4. (Chapter 11) Perfectly competitive markets: Perfect competition, market supply, equilibrium and surplus maximization, deadweight loss of a per-unit tax
• 5. (Chapter 12) Monopoly and monopolistic competition: classical solution, deadweight loss from monopoly, price discrimination, monopolistic competition

UC3M FAculty

• Marco Celentani
  Associate Professor
  Department of Economics

Directed at/towards:

No university degree is required.

REGISTRATION, ENROLLMENT AND PAYMENT

STEP 1 - REGISTER

• You do not need to register if you are already a student at UC3M or have been a student at UC3M.
• If you do not remember your password, you can create a new one  
   
• Registration Guide
• Register

STEP 2 - APPLICATION FOR ADMISSION

Use the username and password you entered when you registered. 

• Guide to request admission and registration
• Application and registration

For any questions or incidents related to the application for admission, please contact: admisiontp@postgrado.uc3m.es

Assessment method

Online proctored exams.
 

Dates of the course

From February 17 to June 30, 2026.

Schedule

Tuesdays and Wednesdays, 18:00-20:00.

Becas Santander Microcredenciales 2026

• Application dates: From January 27th to April 9th (both inclusive)
• Number of grants: 10
• Amount: €300
• Resolution: May 12, 2026

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