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.
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
Type of Assessment - Last names J-Z
Both the 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
Theory of the firm
Competitive market equilibrium
Basics of: General equilibrium theory
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].