The course presents the main operating models of a company in a competitive market in terms of technological constraints, balance sheet, and objective function with real cases as an example.
The course aims to provide: a basic and wide-ranging analysis of the company, its structure, its functioning and the conditions that regulate its survival and growth; a stylized representation of the company, which highlights its complexity while aiming at simplification. A compromise will be sought between the vastness of the subject and the limitation of a basic course.
Understand and analyze, even graphically, the relationship between technology, the price of production factors and production costs for a company.
Understand and analyze, also graphically, the relationship between market forms, production level and prices set by a company.
Apply the theoretical concepts learned to the particular cases of the digital transition and environmental externalities.
Connect the theoretical concepts learned to the example cases referring to the Ligurian context.
No prerequisites
Frontal lessons
The program of the course is divided into 12 weeks, two lessons per week, with an alternation of theoretical and analytical contents and examples referring to the Ligurian context.
Week
Analysis and examples referring to the Ligurian context
Theoretical contents
1
Database of the Chamber system
- Tools of economic information and legality
- Evolution of the Ligurian economic system
Technology and production functions.
Isoquants and returns to scale
2
The material infrastructures:
- Highways
- Railways
- Airport
- Port
Input, technology, costs, and choice of factors.
Cost functions and their relationships
3
Planning of Funds POR FESR Liguria 2014-2020
- Progress and reschedulling
- State of preparation of the program 2021-2027
Revenue functions, profit maximization and supply function
4
Planning of POR FSE Funds L iguria 2014-2020
Perfect competition and equilibrium in the short and long run
5
- The intangible infrastrutture
Consumer and producer surplus.
Efficiency of perfectly competitive markets
6
Alternative forms of access to credit:
- Financial engineering
- Collective Credit Guarantee Bodies
- Problems related to the risk of bank default
Information asymmetries.
Hidden features and adverse selection.
Hidden actions and moral hazard.
7
Entrepreneurial associations:
- The experience of “Centri integrati di via” and of business networks
Monopoly, equilibrium and loss of efficiency .
Elasticity of demand and markup
8
The “Punti di impresa digitale” of the Chamber system
Increasing returns, network effects and lock- in in the digital economy.
Arthur model
9
The observatory of tourism of Region Liguria
Case study I: digital investments, total productivity and substitutability of production factors.
International empirical evidence
10
The protection of historic centers and the enhancement of the artistic heritage and historical shops
Oligopoly.
Cournot , Stackelberg and Bertrand models.
11
GENOA GOURMET: A brand to promote the excellence of the territory
Positive and negative externalities. Externalities and efficiency.
The Coase theorem and policies to address externalities.
12
Crisis Management:
- Natural disasters: floods, storm surges
- Disasters caused by negligence: the collapse of Ponte Morandi
- Health emergency: Covid 19
Case study II: greenhouse gas emissions as a negative production externality and economic policies to mitigate climate change.
Arthur B.W. (1996) Increasing returns and the new world of business. Harvard Business Review
Bernheim B.D., Whinston M.D. (2018) Microeconomia. McGrawHill https://www.mheducation.it/microeconomia-3-ed-edizione-custom-bocconi-9788838694561-italy
Haskel & Westlake (2017) Capitalism without Capital: The Rise of the Intangible Economy https://press.princeton.edu/books/hardcover/9780691175034/capitalism-without-capital
Ricevimento: On appointment
MARCO RABERTO (President)
SILVANO CINCOTTI
SILVIA MASSA
STEFANIA TESTA
MAURIZIO CAVIGLIA (President Substitute)
https://corsi.unige.it/10716/p/studenti-orario
The exam is based on the evaluation of a short document, prepared by the student, and on an oral discussion.
The document, of maximum two pages, is aimed at analyzing and linking some of the topics covered in the lessons of Prof. Caviglia. The creation of links, comparisons and synthesis will be an element of evaluation.
The oral exam is characterized by two parts: discussion of the paper and interview on one of the topics covered in the lessons of Prof. Raberto. In particular, students will be asked to explain, also with the aid of graphics, one of the microeconomics topics discussed in the classroom. Ability to analyze, clarity and precision in the presentation will be elements of evaluation of this part. The discussion of the two parties must be held within the same exam session.
