09446 - Microeconomics

Learning outcomes

Upon completion of the course, the student has gained a detailed knowledge of: - the methodology of Microeconomics and the objects of its analysis; - Consumption theory (preferences, utility maximization, expenditure minimization); - Consumption under uncertainty (expected utility and related paradoxes, risk attitudes, prucence); -Firm theory (technology, profit maximization, cost minimization, cost function); - Market structure (perfect competition, monopoly, oligopoly, monopolistic competition, collusion); - Elements of general equilibrium theory (characterization of equilibrium, proof of existence) and of welfare economics (1st and 2nd welfare economics theorems, social welfare function).

Course contents

1. Introduction
2. Consumer theory under certainty, individual and market demands, Notes on choice under uncertainty.
3. Intertemporal choices and activity markets.
4. Consumer surplus, revealed preferences and the Slutsky equation.
5. Individual and market demand, exchange.

MODULE 2

1. Technology: cost minimization, cost curves.
2. Firm and industry supply.
3. Competitive equilibrium.
4. Monopoly.

Readings/Bibliography

• Hal R. VARIAN, Microeconomia, Cafoscarina, Venezia, last edition.
• Further references will be indicated when needed.

Teaching methods

Traditional lectures.

Assessment methods

Written exam: multiple-choice and short free-response questions.

Office hours

See the website of Emanuele Bacchiega