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

Prerequisite knowledge: Mathematics

Program:

1. Preliminaries

2. The Basics of Supply and Demand

3. Consumer Behavior

4. Individual and Market Demand

5. Gender Gaps in the Labor Market

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. Topics presented in class and slides are based on this textbook.

It is strongly recommended that students have access to a copy of the textbook. It is important to note that the slides alone are not sufficient for a thorough understanding of the subject matter. Therefore, students must complement their studies with the textbook to ensure strong performance on the exam.

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.

2) full written exam of about two hours on all the topics covered in the course.

Further details will be made available on the course page on Virtuale.

The exam grading system is on a 0-30 scale. The maximum possible score is 30 cum laude, in case all answers are correct, complete, and formally rigorous.
The following grading scheme applies:

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

Important: Students are allowed to reject their final grade for the course at most TWICE.

Teaching tools

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

Teaching materials will be downloadable from Virtuale.it

Office hours

See the website of Riccardo Ghidoni