In my analysis course, we are considering $(\mathbb{R},+,\cdot,\leq)$ as axiomatically constructed ordered field. Now, together with that, we added a completness axiom stated as follows:
Axiom: Let $(I_n)$ be a sequence of intervals in $\mathbb{R}$ such that for all $n\in\mathbb{N}$ $I_{n+1}\subset I_n$. Also let $\lim_{n\to\infty} |I_n|=0$. Then $$\bigcap_{n=1}^\infty I_n\neq \emptyset$$
Now, I wish to use the least upper bound property (LUBP), that is, any bounded (from above) subset of $\mathbb{R}$ has a least upper bound. My lecturer proposed that this is equivallent to the Axiom of Choice, because we have all subsets of $\mathbb{R}$ (an uncountable set) and for each of these sets $X \in \mathcal{P}(\mathbb{R})$, there is a set of all upper bounds of $X$. Which is also uncountable. So in order to select the $\min{X}$, we need AC, right In this construction, do we need AC to get to LUBP? In addition, what would we need to be able to prove LUBP as a theorem? (Also, if I am wrong, I would love to see a proof that LUBP can be proven from the axiom i gave.)