09446 - Microeconomics

Learning outcomes

Upon completion of the Course, the student has gained a detailed knowledge of: the object, goals and methodology of the microeconomic analysis; Consumer Theory (budget constraint, preferences, utility, choice, individual demand, Slutsky equation, consumer surplus, aggregate demand, revealed preferences); Firm Theory (technology, profit maximization, cost minimization, individual offer, producer surplus, aggregate offer; the Competitive Equiibrium and its properties, the Monopoly equilibrium and its properties; the basics of General Equilibrium.

Course contents

CONSUMER THEORY

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.

FIRM AND MARKET THEORY

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

Readings/Bibliography

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

Teaching methods

Traditional lectures.

Assessment methods

Written, closed book, exam: multiple-choice (20 points) and short free-response questions/exercises (12 points), duration: 1 hour.

The maximum mark (all answers correct and complete, with an appropriate level of formalization) is 30 e lode.

Mark scale:

<18 Fail.

18-23 Pass.

24-27 Good.

28-30 Distinction.

30 e lode Great Distinction.

If online, the exams will be held on the EOL platform and will have the same structure.

Calculators are allowed.

Teaching tools

The slides used in class as well as some sample exams will be posted on the e-learning platform.

Office hours

See the website of Emanuele Bacchiega