09446 - Microeconomics (A-E)

Learning outcomes

By the end of the couse the students will: - master the basic tools for the study of the behaviour of the main economic agents (consumers, firms, goverment) and of their interactions in the markets. - know the basic theoretical instruments for the understanding of the redistributive effects of public policies, with particular reference to the Italian case.

Course contents

INTRODUCTION

Some Economic Fundamentals
The Necessary Analytical Tools

PART II: CONSUMPTION THEORY

Consumer Behaviour
Individual and Market Demand

PART II: FIRM THEORY

Technology and Production
Production Costs

PART III: PERFECT COMPETITION

Profit Maximation and the Firm's Supply
Analysis of Perfectly Competitive Markets

PART IV: MARKET POWER AND STRATEGI INTERACTION

Monopoly, Regulation and Price Discrimination
Oligopoly and Stratetig Interdependence

PART V: GENERAL EQUILIBRIUM

General Equilibrium in a Pure-Exchange Economy
Equilibrium, Efficiency and Equity

PART VI: EXTERNALITIES AND PUBLIC GOODS

Market failures and Externalities. Public Intervention and Private solutions: The Coase Theorem. Public Goods.

Readings/Bibliography

Pindyck R.S. e D.L. Rubinfeld (2012), Microeconomics, Pearson-Prentice Hall, 8th edition.

Teaching methods

Traditional lectures accompanied by a web support available at the site www.matteoalvisi.altervista.org

Assessment methods

The examination aims at verifying the achievement of the following educational objectives:

• basic knowledge of the theoretical and analytical tools used by economists to study the behaviour of the main economic agents (consumers, firms, government) and their market interaction.
• knowledge of the main theoretical tools used to understand and evaluate the redistributive effects of public policies.

The examination consists of a two-hour written test (theory questions and exercises), marked in thirties, that can be supplemented by an optional oral examination. Students can access the oral examination only after passing the written test (18 points or more). 
-         First Part:  8 multiple Choice questions (1.5 points each)
-         Second Part: 3 Open Questions (10 points in total)T
-         Third Part: One or Two Short Exercises (5 points each)
The oral examination is approximately 10-15minutes long and may increase/decrease the score of the written examination for a maximum of 3 points.

During the course semester, students have the opportunity to pass the course taking a midterm and a final exam. Both exams are similar to the written test both in their structure and content, so that their main advantage is the opportunity to prepare in each occasion half of the material only. Student can take the final exam only if they pass the midterm with a score of 15 out of 30 or higher The course score will be the arithmetic mean of the two scores in the midterm and in the final. The course is passed if such mean is equal or greater than 18 out of 30.

Teaching tools

A web site for the course is available: www.matteoalvisi.altervista.org. Through this site, students will be able to download the following material: Math Lecture Notes - Course Slides (in .pdf version)  - Weekly Tutorials' Notes and Exercises - Sample tests.
   

Links to further information

http://www.matteoalvisi.altervista.org

Office hours

See the website of Matteo Alvisi