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 alternation of theoretical 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
The nature and purpose of the firm:
- the neoclassical theory of the firm
- the theory of transaction costs
- the theory of contracts
2
The material infrastructures:
- Highways
- Railways
- Airport
- Port
-White book
Immaterial infrastructures
Complexity and interdependence in today's global economy:
- from organized Fordist capitalism to the deregulated market economy
- the chains of added value
- digital technology and network externalities
3
Planning of Funds POR FESR Liguria
- PNRR: Coehsion Fund and Complementary Fund
- Progress and reschedulling
- State of preparation of the program 2021-2027
The neoclassical firm:
- technology and production functions
- costs
4
Planning of POR FSE Funds Liguria
The firm in a competitive market:
- revenue function
- supply function
- profit maximation
5
Competitive markets:
- general equilibrium
- efficiency and equity
6
Alternative forms of access to credit:
- Financial engineering
- Collective Credit Guarantee Bodies
- Problems related to the risk of bank default
- Negotiated settlement
- ESG and sustainability
Information asymmetries.
- hidden features and adverse selection.
- hidden actions and moral hazard.
- the credit market
7
Entrepreneurial associations:
- The experience of “Centri integrati di via” and of business networks
Market power and monopoly
- pricing in a monopoly
- less of efficiency
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
GENOA GOURMET: A brand to promote the excellence of the territory
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
Market power and oligopoly.
- Game theory and Nash equilibrium
- Cournot , Stackelberg and Bertrand models.
11
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
- Swine fever
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
Elsner W., Heinrich T., Schwardt H. (2015). The Microeconomics of Complex Economies. https://shop.elsevier.com/books/the-microeconomics-of-complex-economies/linsley/978-0-12-411585-9
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)
SILVIA MASSA
MAURIZIO CAVIGLIA (President Substitute)
SILVANO CINCOTTI (President Substitute)
LINDA MADDALENA PONTA (President Substitute)
STEFANIA TESTA (President Substitute)
https://corsi.unige.it/en/corsi/10716/studenti-orario
The exam consists in a written test and in the preparation of a short report.
The written test is aimed at verifying the knowledge of the microeconomics topics presented in class by Prof. Raberto. Knowledge of the topics, combined with clarity and precision in the presentation, also with the aid of graphics, constitute the elements of evaluation of the written test.
The preparation of the report is aimed to assess the capacbility by the student to analyze and connect some of the topics covered in the lessons of Prof. Caviglia. The creation of links, comparisons and the ablity to synthesize will be the main elements of evaluation.
Students who have valid certification of physical or learning disabilities on file with the University and who wish to discuss possible accommodations or other circumstances regarding lectures, coursework and exams, should speak both with COURSE PROFESSOR and with Professor Federico Scarpa (federico.scarpa@unige.it ), the School's disability liaison.
