93367 - MICROECONOMIA

Course contents

I. Economics: what it studies, with what method, how it has evolved

II. The market

1. Market: an overused term 2. The stylized characteristics of the market 3. The movements along the curves and the movements of the curves 4. Market equilibrium

III. The theory of consumption

3. The theory of consumption 4. The problem of maximizing consumer utility 6. How do we arrive at the individual demand curve

IV. Production decision theory

1. The economic problem of production 3. The production function 4. The cost of production 5. Economies of scale 6. External costs and opportunity costs

 

V. The perfectly competitive market

1. The problem of the quantity to be produced 2. The revenue function 3. Profit maximization in the short run and the supply curve of the single firm 4. The firm that is perfectly competitive in the long run 5. The supply of a good in the competitive industry 6. Market equilibrium in perfect competition 7. Social welfare in a single market

VI Non-competitive markets and elements of game theory

1. Markets where firms have pricing power 2. Market syndrome and branches of economic activity 3. The monopoly  5. The oligopolistic market

VIII. The economics of well-being according to utilitarianism

1. What is the welfare economy 2. The fundamental theorems of welfare economics 4. The function of social welfare and Arrow's impossibility theorem 5. Market failures 6. Market and distributive justice

Readings/Bibliography

Becchetti L., Bruni L. Zamagni S. "Microeconomics", Il Mulino, 2014

Teaching methods

Lectures and discussion groups

 

Grades and Evaluation Crieria

 

Eccellente: A+/30 e Lode

Ottimo: A/30

Distinto: A-/29-28

Molto Buono: B+/27-26

Buono: B/25-24

Discreto: B-/23-22

Più che Sufficiente: C+/21-20

Sufficiente: C/19-18

Respinto: F

Assessment methods

Written Exam

Office hours

See the website of Diego Lanzi