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.
The course aims to provide the first elements for understanding the functioning of the economic system. Particular attention is paid to the study of the behavior of economic actors (consumers and firms) and the analysis of the role of the market in the resources allocation process.
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.
Frank R H., Cartwright E., Microeconomia, McGraw-Hill, VII edizione
Office hours: Tuesday 10,30 during the lessons period (Dipartimento di Economia, Via Vivaldi 2, Darsena) or sending a mail to email@example.com for other days or during the other periods.
ANGELA TESTI (President)
Attendance is recommended. Registration in the Unige learning platform Aulaweb is recommended