OVERVIEW

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.

AIMS AND CONTENT

LEARNING OUTCOMES

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.

AIMS AND LEARNING OUTCOMES

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 behaviour of economic actors (consumers and firms) and the analysis of the role of the market in the resource allocation process.

PREREQUISITES

A sound understanding of the concept of a mathematical function, as well as the ability to solve simple linear equations and to reason abstractly is necessary for successful learning of the material covered in the course.

TEACHING METHODS

Frontal lectures. Should the Covid emergency persist, the lectures will be in blended modality, i.e. a mix of frontal and on line lectures.
Any changes due to the COVID emergency will be announced on Aulaweb.

Students who have valid certification of physical or learning disabilities  and who wish to discuss possible accommodations or other circumstances regarding lectures, coursework and exams, should speak both with the instructor and with Professor Serena Scotto (scotto@economia.unige.it), the Department’s disability liaison.
 

SYLLABUS/CONTENT

1. Scarcity and economics; The coordination of individual choices. The evolution of economic thought. Market demand and supply, applications.
   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.

RECOMMENDED READING/BIBLIOGRAPHY

Frank R H., Cartwright E., Microeconomia, McGraw-Hill, 2020.
Further teaching material provided during the lectures.

TEACHERS AND EXAM BOARD

LESSONS

LESSONS START

LESSONS START
First Sem.
 
CLASS SCHEDULE
All class schedules are posted on the EasyAcademy portal.

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

Written exam containing open questions and numerical/analytical exercise. There will be partial exams.

ASSESSMENT METHODS

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 to the COVID emergency 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.

FURTHER INFORMATION

Attendance is recommended but not compulsory. Registration in the Unige learning platform Aulaweb is recommended.