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

1. Preliminaries

2. The Basics of Supply and Demand

3. Consumer Behavior

4. Individual and Market Demand

5. Uncertainty and Consumer Behavior

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, 8th oppure 9th Edition (2013 o 2018) By Robert Pindyck, Daniel Rubinfeld Published by Pearson

As an alternative, see "The Economy" open source book available online at: www.core-econ.org

Teaching methods

Lectures using slides and other teaching materials. When possible: classroom games.

Assessment methods

The final grade is given by either :

1) two (midterm) written exams

or

2) a unique final written exam

In case the student decides to opt for an online exam, the exam will be oral.

Grades are assigned as follows:

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

Teaching tools

Part of the teaching material (slides and exercises to be solved in class, multiple choices tests) will be provided by the lecturer

Links to further information

https://sites.google.com/site/francescabarigozziunibo/teaching/microeconomics?authuser=0

Office hours

See the website of Francesca Barigozzi