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What is the content and purpose of this microcredential?

This microcredential is the first in a three-part series, the UC3M Microeconomics Microcredential Series, designed to provide students with foundational analytical tools in microeconomic theory. The other two microcredentials are Microeconomics 2: Producer theory and Microeconomics 3: Efficiency and market structures (to be published shortly on the webpage of UC3M School of Lifelong Learning). All three 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 this series 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 1 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 three-course series can request a confidential academic assessment, which will carry considerable weight in the admission process for the following UC3M programs:

• Master in Economics (more information here)
• Master in Economics of Competition, Regulation, and Market Analysis (this program will replace the current Master in Industrial Economics and Markets, starting in academic year 2026–27; more information here)

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 1: Consumer Theory

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. Anonther useful resoource is Christopher R. Makler Intermediate Microeconomics: An Interactive Exploration available here.

• 1. Basics of optimization
• 2. (Chapter 2) Preferences and utility: Preference relations, utility functions, marginal rates of substitution
• 3. (Chapter 3) The budget constraint and the consumer’s optimal choice
• 4. (Chapter 4) Demand functions: Substitution and income effects, compensated demand curves, elasticity, market demand
• 5. (Chapter 5) Applications: Labor supply, substitution and income effects, taxes
• 6. (Chapters 6 and 7) Welfare economics: The one-person case and the multi-person case

UC3M FAculty

• Marco Celentani
  Associate Professor
  Department of Economics
• Paloma Romero Quesada
  Adjunct Professor
  Department of Economics

External Faculty

• Juan Quintana Romojaro
  SG State Treasury Management
  Ministry of Economy, Trade and Business
• Ramiro Castillo Vargas
  Professor
  Matematicas Alcocer
   

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.
•  
   
• Registration Guide

STEP 2 - APPLICATION FOR ADMISSION

Use the username and password you entered when you registered. 

• Guide to request admission 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 October 14 to November 14, 2025

Schedule

Tuesdays and Wednesdays, 18:00-20:00

Santander Microcredentials Scholarships 2025

Term : from September 3, 2025 to October 28, 2025 (both inclusive)

Number of grants : 18

Amount : €300

Resolution : before November 28, 2025

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