|SCIENTIFIC DISCIPLINARY SECTOR||SECS-P/01|
|SECTIONING||This unit is divided into 4 sections:|
Prerequisites (for future units)
Microeconomics provides basics for understanding the functioning of the economic system. Particular attention is paid to the study of the behaviour of consumers and firms and the analysis of the role of the market in the resource allocation process.
The course aims to provide the first elements for understanding the functioning of the economic system. Particular attention is paid to the study of the behavior of economic actors (consumers and firms) and the analysis of the role of the market in the resources allocation process.
Students are expected to be proficient with microeconomic modelling.
Frontal lectures. Any changes will be announced on Aulaweb.
In case of special requirements, students with disabilities and/or learning disabilities are requested to contact - at the beginning of the semester - the "Student Disability Services" and the teacher.
1. Scarcity and economics; The coordination of individual choices. The evolution of economic thought. The economic models.
2. The theory of consumer behaviour. Price-consumption curve and income-consumption curve; individual demand and market demand. Elasticity and expenditure; introduction to behavioural economics.
3. Basic theory of the firm. Production and costs (long-run and short-run). Perfect competition: the individual and the market supply curve. The profit-maximisation hypothesis. The firm and the industry in the long run.
4 Factor demand and supply. Intertemporal choices and uncertainty choices.
5. Market power: monopoly, natural monopoly, product differentiation and monopolistic competition; price discrimination, duopoly (Cournot, Bertrand, Stackelberg). Collusion and prisoner dilemma; sequential games. Management theories. Oligopoly.
7. General equilibrium and welfare.
8. Asymmetric information (adverse selection and moral hazard), externalities, public goods.
Frank R H., Cartwright E., Microeconomia, McGraw-Hill, 2017.
Further teaching material provided during the lectures.
Office hours: Thursday 10:00 - 12:00 a.m. by appointment.
CONCETTA MENDOLICCHIO (President)
All class schedules are posted on the EasyAcademy portal.
Written exam. The examination consists in numerical exercises designed to test understanding of the theoretical models discussed and open questions that often require the ability to draw graphs.
The program is the same for attending and non-attending students. Any changes due will be announced on Aulaweb.
In case of special requirements, students with disabilities and/or learning disabilities are requested to contact - at the beginning of the semester - the Student Disability Services and the teacher.
Written exam containing open questions and numerical/analytical exercise.
Attendance is recommended but not required. Registration in the Unige learning platform Aulaweb is necessary.