09446 - Microeconomics

Course Unit Page

Academic Year 2018/2019

Learning outcomes

The aim of the course is to give the main elements of the microeconomic analysis of the functioning of a market economy; due attention will be paid, therefore, on the analysis of the behaviour of economic agents (consumers, firms, the state) and on the consequences of their interactions in terms of equilibrium analysis and the properties of the resulting configurations.



Course contents

  1. Microeconomics and the study of the market economy.
  2. The methodological framework of microeconomics: individual choices, equilibrium and comparative statics.
  3. The theory of consumer behaviour.
    1. The rational choice model.
    2. Consumer's choices and individual demanda curve.
  4. Consumer behaviour and intertemporal choices: consumption and saving.
  5. Consumer behavior and choices in situation of risk and uncertainty.
  6. Consumer theory and the model of general equilibrium of pure exchange.
    1. Prices and general equilibrium.
    2. The fundamental theorems of welfare economics.
    3. The problem of distributive justice.
  7. Theory of the firm.
    1. Technology, productivity and cost curves.
    2. Profit and firm's decisions.
  8. The competitive model of the market: Equilibrium and efficiency.
    1. Competition and short and long-run equilibrium of the market.
    2. Competitive market and efficiency.
    3. Competitive market and efficiency with asymmetric information.
    4. Competitive market and efficiency with externalities and public goods.
  9. Non competitive markets, strategies and efficiency.
    1. Strategic behiavour and game theory: the notion of non-cooperative Equilibrium.
    2. Monopoly and entry barriers.
    3. Monopolistic competition and product differentiation.
    4. Oligopolistic markets: price and quantity strategies.
    5. Oligopolistic markets: non-price strategies.
  10. Competition, regulation and social welfare.

Readings/Bibliography

G. Ecchia - G. Gozzi, Mercati, strategie ed istituzioni, Il Mulino 2002.

M. Cati, Eserciziario di microeconomia, Esculapio, Bologna, last edition.

Teaching methods

Front lectures

Assessment methods

Written examination

Office hours

See the website of Giancarlo Gozzi