OVERVIEW

Microeconomics provides basics for understanding the functioning of the economic system. Particular attention is paid to the study of the behavior of consumers and firms and the analysis of the role of the market in the resources allocation process.

LEARNING OUTCOMES

The course aims to provide the first elements for understanding the functioning of the economic system. Particular attention was paid to the study of the behavior of economic entities (consumers and businesses) and the analysis of the role of the market in the allocation process of resources.

Teaching methods

Lectures

SYLLABUS/CONTENT

1. Scarcity and economics; The coordination of individual choices. The evolution of economic thought. The economic models.
2. The theory of consumer behavior. Price-consumption curve and income-consumption curve; individual demand and market demand. Elasticity and expenditure; introduction to behavioral economics.
3. Basic theory of the firm. Production and costs (long-run and short-run). Perfect competition: the individual and the market supply curve. The profit-maximisation hypothesis. The firm and the industry in the long run.
4 Factor demand and supply. Intertemporal choices and uncertainty choices.
5. Market power: monopoly, natural monopoly, product differentiation and monopolistic competition; price discrimination, duopoly (Cournot, Bertrand, Stackelberg). Collusion and prisoner dilemma; sequential games. Management theories. Oligopoly.
7. General equilibrium and welfare.
8. Asymmetric information (adverse selection and moral hazard), externalities, public goods.

RECOMMENDED READING/BIBLIOGRAPHY

Frank R H., Cartwright E., Microeconomia, McGraw-Hill, VII edizione

Exam Board

ANNA BOTTASSO (President)

ANGELA TESTI

SERENA SCOTTO

LUCA BELTRAMETTI

Teaching methods

Lectures

LESSONS START

September 2019

ORARI

L'orario di tutti gli insegnamenti è consultabile su EasyAcademy.

Vedi anche:

MICROECONOMICS C

Assessment methods