37293 - Microeconomics

Learning outcomes

The aim of the course is to introduce students to the basic analytical tools for understanding the behaviour of economic agents (individuals, firms, public authorities) and their interactions in the market. At the end of the course students are able to: (a) analyse consumers’ expenditure and firms’ production decisions; (b) understand the interactions between consumers and firms in the market; (c) analyse the role of public policies in dealing with market failures.

Course contents

1. Preliminaries

2. The Basics of Supply and Demand

3. Consumer Behavior

4. Individual and Market Demand

5. Uncertainty and Consumer Behavior

6. Production

7. The Cost of Production

8. Profit Maximization and Competitive Supply

9. The Analysis of Competitive Markets

10. Market Power: Monopoly

11. Oligopoly

12. Game Theory and Competitive Strategy

13. General Equilibrium and Economic Efficiency

Readings/Bibliography

Microeconomics, either 8th or 9th Edition (2013 o 2018) By Robert Pindyck, Daniel Rubinfeld Published by Pearson

As an alternative, see "The Economy" open source book available online at: www.core-econ.org

Teaching methods

Lectures with slides and other teaching materials.

When possible: classroom games and/or class presentations by the students.

Active participation to the in-class discussion is strongly encouraged.

Attending the classes is not compulsory, but highly recommended.

Assessment methods

The final grade is given by either :

1) two (midterm) written exams

or

2) a unique final written exam

Grades are assigned as follows:

- <18: failed
- 18-23: sufficient
- 24-27: good
- 28-30: very good
- 30 Lode: excellent.

Teaching tools

Traditional lectures with slides, problem sets, multiple choices tests. Students' presentations and/or classroom games.

Teaching materials is downloadable from Virtuale.it

Office hours

See the website of Francesca Barigozzi