ECONOMICS

ECONOMICS

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iten
Ultimo aggiornamento 11/06/2021 10:46
Codice
98227
ANNO ACCADEMICO
2021/2022
CFU
4 cfu al 1° anno di 10728 ENGINEERING TECHNOLOGY FOR STRATEGY (AND SECURITY) (LM/DS) GENOVA
SETTORE SCIENTIFICO DISCIPLINARE
SECS-P/01
LINGUA
Inglese
SEDE
GENOVA (ENGINEERING TECHNOLOGY FOR STRATEGY (AND SECURITY))
periodo
2° Semestre
materiale didattico

PRESENTAZIONE

The aim of the course is to provide students with the fundamental concepts of Microeconomics and Economics of Strategy. The focus will be on developing concepts related to the equilibrium in markets with asymmetric information, Monopoly & Oligopoly Models, and Labour markets. These will be developed using Game Theory concepts.

OBIETTIVI E CONTENUTI

OBIETTIVI FORMATIVI

Course aims to: Provide Fundamental concepts of Economics, Monopoly & Oligopoly Models, Basic Consumer Theory as well as Game Theory applied to these fields

OBIETTIVI FORMATIVI (DETTAGLIO) E RISULTATI DI APPRENDIMENTO

Students will learn the mathematical tools used to understand and critically evaluate the strategic interaction between economic agents.

The aim will be to acquire skills on the use of Economic techniques, methodologies and tools that can shed light on real world business problems. Particular attention will be given to how different forms of market structure shape the way firms compete. A section of the course will delve deep into pricing strategies, with a focus on both traditional markets but also on online markets and e-commerce. Students will learn how  to recognise different forms of  Market Structure and how the competitive process leads to different outcomes in each market type. Students will also learn how different forms of informational asymmetries shape how  firm design their products to improve efficiency and enhance competitiveness.

PREREQUISITI

Nessuno

Modalità didattiche

All concepts will be presented during lectures. During the lectures, to reinforce learning and a deeper understanding of the topics, videos may be shown. Students will also be asked to solve exercises and discuss possible areas of application of the topics under study.

PROGRAMMA/CONTENUTO

The course is organized in two parts.

In the first, some basic concepts of microeconomics will be covered:

  1. Theory of the firm
  2. Choice under risk and uncertainty
  3. Equilibrium in markets with asymmetric information
  4. Monopoly
  5. Price discrimination - linear and non-linear pricing
  6. Pricing online - fundamentals with applications.

All these issues will be studied by making real-world examples and combining theory with exercises and applications.

Building on these concepts,  in the second part the following topics will be covered:

  1. Benchmark Case: The perfectly competitive market
  2. Strategic Thinking and Game Theory;
  3. Nash equilibrium
  4. Refinements of Nash equilibrium;
  5. Business Application of Game Theory: competing in an oligopolistic market.
  6. Monopolistic competition and Product Differentiation.

 

TESTI/BIBLIOGRAFIA

Recommended readings fo both parts are:

  • Nechyba, T. (2011), Microeconomics: an Intuitive Approach with Calculus, International Edition, 1st or 2nd  Edition, Southwestern CEngage Learning
  • Pepall, Richards, Norman, (2013) Industrial Organization: Contemporary Theory and Empirical Applications. fifth edition, Blackwell Publishing
  • Belleflamme P. and Peitz M. (2015), Industrial Organization. Markets and Strategies, Cambridge University Press.

Several applications are discussed in

  • Besanko, D., Dranove, D., Shanley, M. and Schaefer, S. Economics of Strategy, 6th ed., Wiley and Son.
  • Brickley, J., Smith, C. and Zimmerman, J. Managerial Economics and Organizational Architecture, international edition, 2004, McGraw Hill.
  • Carlton, D. and Perloff, J. 2005. Modern Industrial Organization, Pearson.

DOCENTI E COMMISSIONI

Ricevimento: Su appuntamento da concordare via email.

LEZIONI

Modalità didattiche

All concepts will be presented during lectures. During the lectures, to reinforce learning and a deeper understanding of the topics, videos may be shown. Students will also be asked to solve exercises and discuss possible areas of application of the topics under study.

ORARI

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

ESAMI

Modalità d'esame

Written examination with questions on theory and quantitative exercises.

Modalità di accertamento

The exam is aimed to verify  students' ability to apply the basic concept of game theory and microeconomics to real world situations.