The course equips students with the skills to interpret and analyze the economic landscape and the guiding principles behind consumer and business decision-making, employing analytical paradigms and methodological tools. It introduces fundamental concepts and models from economics to decipher market dynamics and value creation mechanisms, assess efficiency, comprehend the role of private incentives, and identify scenarios necessitating public intervention. The course delves into the theory of individual consumption choice and business production decisions, exploring market equilibria, perfect and imperfect competition, and instances of market failure.
Course Prerequisites
Basic knowledge of differential calculus.
Teaching Methods
Lectures where theoretical content and related examples/applications are presented using slides. The lectures are regularly supplemented by classroom exercises where theoretical concepts are explored in depth through exercises presented and solved by the instructor. The teaching material used in class during lectures and exercises is made available through the KIRO platform.
Assessment Methods
Written exam consisting of multiple-choice questions and exercises on the topics covered during the course. The questions and exercises will be similar to those covered with the instructor during the practice sessions (available on the course e-learning page). The details of the exam structure (number of multiple-choice questions and theoretical/practical exercises) and the points assigned to each section/question are communicated on the course e-learning page along with a mock exam containing instructions for the test. The grading scale ranges from 0 to 30 cum laude, with a passing grade being 18/30. Exam results are communicated using the ESSE3 portal. Acceptance or rejection of the grade must adhere to the current university academic regulations.
Texts
MICROECONOMIA 7ed, di Michael D. Katz, Harvey S. Rosen, Carlo Andrea Bollino, Wyn Morgan, McGraw-Hill, 2024, ISBN: 9788838658099 MICROECONOMIA. ESERCIZI 6ed, di Monica Bonacina, Patrice De Micco, EGEA, 2020, ISBN: 9788875342067
Contents
- Consumer Analysis: preference theory and utility, optimal choice, demand, consumer surplus. - Factor Market Supply: trade-offs between consumption and leisure time, labor supply, intertemporal consumption choice, and savings supply. - Production Analysis: production technology, short and long-run costs, profit, optimal producer choice, short and long-run supply. - Equilibrium under perfect competition and efficiency. - Monopoly and efficiency. - Game Theory and Oligopoly. - Market Failures.
More information
For all organizational information and teaching materials, please refer to the course e-learning page.
