87416 - Microeconomics (A-L)

Learning outcomes

At the end of the course the student grasps the basic knowledge of microeconomic theory and she can take part to the public debate with sufficient precision and independent judgement. In particular the student knows the theory of decisions under certainty and strategic interaction; she understand the working of the markets and can provide an assessment in terms of efficiency; she understands the various forms of market failures and the possible solutions.

Course contents

The course is organized with a part of lectures taught online on MS TEAMS (20 hours) and another taught in presence (30 hours). The number of students allowed in class is determined on the basis of class capacity and by the health and safety provisions that deal with the pandemic emergency. In case more students want to attend classes in presence than permitted by the rules, a system of shifts will be organized so to allow students to participate. Regardless of the health-related conditions and the specific organization of the course, students will be able to follow the lessons of the entire course remotely on MS TEAMS.

The following arguments will be covered:

1. Market Equilibrium and efficiency

2. Consumption decisions.

3. Production decisions and perfect competition.

4. Classical political economy: Smith, Ricardo and Marx

5. Monopoly

6. Strategic interaction

7. Oligopoly

8. Externalities

9. Public goods and common resources

10. Asimmetric information

11. Collective choices

 

 

Readings/Bibliography

Lavanda Italo e Rampa Giorgio, Microeconomia. Scelte Individuali e Benessere Sociale, Carocci Editore, 2004.

Patel Raj, Il Valore delle Cose e le Illusioni del Capitalismo, Feltrinelli, 2009.

On some specific topics some further readings will be required.

Teaching methods

Traditional teaching methods will be used.

The detailed syllabus, the additional readings, the tutorials and the announcements will be available in the instructor's web site .

 

Assessment methods

Three written (partial) exams, each on specific parts of the syllabus, and a final written exam, on the whole syllabus.

The final grade is a weighted average of the three written (partial) exams and of the final exam (the weight of the latter is 52% ).

If the average grade of the partial exams is at least 18/30, the final exams consists of 2 questions; otherwise it consists of 3 questions. In any case the final exam lasts one hour.

The partial exams consist of 10 questions (multiple choice).

The final exam consists of open questions and exercises.

For the not-attending students the total exam consists of 3 questions and it must be completed in one hour; it will cover all the arguments of the course.  

Teaching tools

Tutorials.

Slides.

Office hours

See the website of Giorgio Giovanni Negroni