|SCIENTIFIC DISCIPLINARY SECTOR||SECS-P/01|
The aim of the course is to provide students with the fundamental concepts of Microeconomics and Economics of Strategy. The focus will be on developing concepts related to the equilibrium in markets with asymmetric information, Monopoly & Oligopoly Models, and Labour markets. These will be developed using Game Theory concepts.
Course aims to: Provide Fundamental concepts of Economics, Monopoly & Oligopoly Models, Basic Consumer Theory as well as Game Theory applied to these fields
Students will learn the mathematical tools used to understand and critically evaluate the strategic interaction between economic agents.
The aim will be to acquire skills on the use of Economic techniques, methodologies and tools that can shed light on real world business problems. Particular attention will be given to how different forms of market structure shape the way firms compete. A section of the course will delve deep into pricing strategies, with a focus on both traditional markets but also on online markets and e-commerce. Students will learn how to recognise different forms of Market Structure and how the competitive process leads to different outcomes in each market type. Students will also learn how different forms of informational asymmetries shape how firm design their products to improve efficiency and enhance competitiveness.
All concepts will be presented during lectures. During the lectures, to reinforce learning and a deeper understanding of the topics, videos may be shown. Students will also be asked to solve exercises and discuss possible areas of application of the topics under study.
The course is organized in two parts.
In the first, some basic concepts of microeconomics will be covered:
All these issues will be studied by making real-world examples and combining theory with exercises and applications.
Building on these concepts, in the second part the following topics will be covered:
Recommended readings fo both parts are:
Several applications are discussed in
All class schedules are posted on the EasyAcademy portal.
Written examination with questions on theory and quantitative exercises.
The exam is aimed to verify students' ability to apply the basic concept of game theory and industrial economics to real world situations.