Basic neoclassical microeconomics:
partia equilibrium analysis, consumption theory, produzion theory. Perfect competition, the Pareto principle and the basic general equilibrium model. The first theorem of welfare economics.
Market failures : private monopoly, oligopoly, public goods, esternalities.
Course Content - Last names J-Z
This course aims at introducing students to the fundamental methods
used in microeconomic theory. Microeconomics studies the behavior of
firms and consumers, that is the “micro” agents of the economic system.
The course will discuss how firms and consumers’ behaviors interact in
the market and how their interactions deliver different economic
equilibria. The course will also cover consequences in terms of welfare of
different market structures and public interventions
This course seeks to introduce microeconomic analysis as a way of understanding the world. It exposes students to standard microeconomic theory with a focus on the development of economic intuition, whilst also providing certain economic tools that support this intuition along the way.
Students learn the basic principles, and the main drowbacks of the standard economic analysis.
Learning Objectives - Last names J-Z
Familiarize with the fundamental methods used in microeconomics to
understand individuals and firms’ behavior. Being able to understand how
market power emerges in markets of different structures and for products
with different characteristics.Being able to understand the welfare effect
of different market structures and possible policy interventions.
During lectures and tutorials students are expected to actively participate
discussing issues and completing exercizes at the blackboard.
Some lecture notes and links to reading assignement will be added to the
Moodle page as soon as they are available.All the lecture notes uploaded
in Moodle are freely accessible and are to be considered part of the
course material to be covered for the exam.
Further information - Last names A-I
There is a mid term exam by the end of the first 8 weeks.
Further information - Last names J-Z
Some lecture notes and links to reading assignement will be added to the
Moodle page as soon as they are available.All the lecture notes uploaded
in Moodle are freely accessible and are to be considered part of the
course material to be covered for the exam.
Type of Assessment - Last names A-I
Written exam
Type of Assessment - Last names J-Z
Both the possible intermediate (optional) exam and the final exam are written.
The two exams are meant to accertain whether the student has acquired
the knowledge and skills objective of the curse. The exam last one hour
and is not an open book exam.
Details of the exam structure are available on Moodle
Course program - Last names A-I
Consumer behaviour
Theory of the firm
Competitive market equilibrium
Monopoly
Factor markets
Basics of: General equilibrium theory
Welfare economics
Course program - Last names J-Z
The course is divided in four parts. In the first part a number of
microeconomics’ methodological aspects are introduced. Consumer’s
behoviour and individual decision making are covered in the second part.
In the third part firm’s theory is introduced together with the theory of
market structures. Finally, the course introduces a few welfare
economics’ fundamentl concepts.Program of the course (with textbook
chapters):Partial equilibrium economic analysis [ch. 1-8];Consumer
theory [ch. 9-10];Production theory [ch. 11-12];Non-competitive markets
[ch. 13-15];Externalities and public goods [ch. 16-17].