OVERVIEW

The course aims to provide students with the essential language and tools of microeconomics, and to enable them to apply analytical and microeconomic reasoning to the analysis of important real-world issues. Microeconomics studies how individuals, firms, governments, and other economic institutions make choices based on the available alternatives and the constraints they face, as well as how these choices interact in determining prices and equilibrium allocation. In particular, the 6-ECTS version of the course will focus on the behavior of consumers and firms; the 9-ECTS version will also address market equilibrium and efficiency in competitive markets.

AIMS AND CONTENT

LEARNING OUTCOMES

The course aims to provide the basic elements to explain the economic decisions of individual operators (families and businesses), with particular regard to the results of their interrelation on the market and the reasons for its failure (monopolistic and strategic behaviors, informational asymmetries, externalities) .

AIMS AND LEARNING OUTCOMES

Here is the English translation of the learning objectives, structured to maintain clarity and consistency:

1. Knowledge and understanding:

1.1. Understand how households and firms make economic decisions;
1.2. Understand how agents interact to determine the price and quantity exchanged of goods.

2. Applying knowledge and understanding:

2.1. Use the supply and demand model to determine changes in market equilibrium;
2.2. Analyze the choices of individuals (as consumers and workers) and firms, using marginal analysis and the concept of opportunity cost;
2.3. Use technical language and microeconomic terminology appropriately.

3. Making judgments:

3.1. Interpret prices and market functioning in economic terms;
3.2. Understand the role, strengths, and limitations of economic models;
3.3. Reflect on economic issues using an analytical approach.

PREREQUISITES

Basic knowledge of mathematics at the high school level.

TEACHING METHODS

The course consists of lectures, in-class discussions, exercises, and individual study. Students are strongly encouraged to actively attend both lectures and exercise sessions. Solving exercises is an integral part of the learning process.

SYLLABUS/CONTENT

6-ECTS Course Program

• Demand, supply, and market equilibrium. Elasticity.

• Consumer choice problem: demand curve and Engel curve, income and substitution effects. Labor supply. Intertemporal consumption choice.

• Firm decision-making: production functions and returns to scale, cost functions, average and marginal costs, economies of scale.

Additional Topics for the 9-ECTS Course

• Equilibrium and efficiency in competitive markets.

• Applications of the perfect competition model: market interventions.

RECOMMENDED READING/BIBLIOGRAPHY

D. Bernheim e M. Whinston, Microeconomia, Mc-Graw Hill Italia.

TEACHERS AND EXAM BOARD

LESSONS

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

Written exam.

ASSESSMENT METHODS

The written exam, lasting approximately 90 minutes, consists of True/False questions, open-ended questions, and exercises. In cases of suspected irregularities, an additional oral examination will be administered.

FURTHER INFORMATION

Students will have access to support materials made available on Aulaweb during the first semester.

For non-attending students, the structure of the exam is the same as for attending students.

Students with certified disabilities, specific learning disorders (SLD), or special educational needs must contact both the instructor and the Department's disability advisor at the beginning of the course, in order to agree on teaching and exam arrangements that, while respecting the course objectives, take into account individual learning needs and allow the use of any compensatory tools.

Acceptance of mobility students is subject to the instructor’s approval, and they are therefore required to contact the instructor in advance.