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.
The course in given in Italian. The textbook is available in English and other major languages. The exame can be in English upon request.
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. English version available
Office hours: Wednesday: 4,30 pm or by appoinment (send a mail)
LUCA BELTRAMETTI (President)
Written. in case on Covid limitation exam will be oral on Teams platform. The exam can be given in English upon request
Attendance is recommended. Registration in the Unige learning platform Aulaweb is recommended