30065 - ECONOMIA - MODULO 1 (MICROECONOMIA) / ECONOMICS - MODULE 1 (MICROECONOMICS)

The course introduces the main tools for the study of individual economic behaviour of consumers and firms and for the analysis of how their behaviour determines the allocation of resources in competitive and non-competitive markets. After the presentation of the different topics, through exercises and classes and through the discussion of actual cases, the student is able to understand many problems related to the functioning of markets. The course also discusses the economic role of the government and provides the background material needed to understand aggregate models of the economy.

• Consumer theory.
• Theory of the firm: technology and production.
• Competitive equilibrium.
• Market power: monopoly.
• Oligopoly and strategic behavior.
• Choice under uncertainty.
• Asymmetric information.
• Externalities.

• Describe how consumers and firms interact in different market structures.
• Explain how the interaction between consumers and firms determines price and quantity of goods.
• Identify the relevant characteristics of the different market structures.
• Explain how the firms' behavior depends on the market structure.
• Illustrate the role of uncertainty and informational asymmetries in the market allocation.
• Describe the implications in terms of efficiency and equity of external interventions such as public regulations.

• Apply economic reasoning to consumers' and firms' behaviour.
• Apply marginal analysis and opportunity cost to assess economic decisions.
• Use the concepts of demand and supply to compute changes in market equilibrium and variations of welfare.
• Analyze the impact of public policies.

• Face-to-face lectures
• Exercises (exercises, database, software etc.)
• Interactive class activities (role playing, business game, simulation, online forum, instant polls)

The learning experience of the course includes, in addition to face-to-face lectures, the solution in class of exercises that allow students to apply and better assimilate the tools presented in the course. Students are encouraged to bring their own views and share their insights. 

Students can take a partial and a final exam (having the same weight) or a general exam at the end of the course. In addition, students can take three quiz tests during class hours. The quiz score is added to the average grade obtained in partial and final or to the final grade obtained in the general exam.

Microeconomics

Douglas Bermheim, Stanford University

Micheal D.Whinston, Northwestern University

ISBN : 9781307298048

Microeconomics, Exercises, Egea, 2018