The aim of the course is to provide students with the logical-analytical tools necessary to understand individual consumption and production choices in different economic and institutional contexts. In particular, the course aims to introduce students to an intermediate knowledge of the methods and main results of traditional microeconomic analysis and, to introduce the most recent developments in the discipline through the analysis of the economic behavior of agents such as individuals and companies, their interaction and the balances that this generates. The course will therefore analyze the functioning of the various market forms and their allocative capacities. The microeconomic concepts learned during the course form the basis for understanding and deepening the study of economic subjects and offer the essential tools useful for analyzing economic phenomena and for developing an informed opinion on contemporary economic reality.
The course is designed for students of the Bachelor's Degree in Business Administration. For an easier and better understanding of the contents, students should have at least basic knowledge of mathematical analysis (algebra and differential calculus).
Consumer’s theory: preferences, utility maximization, optimal choice, individual demand curve; market demand.
II MODULE-28 hours
Firm theory: profit maximization, supply curve, competitive market, monopoly, oligopoly.
III MODULE-18 hours
Factors markets, Externalities, definition of public goods, tutorials, mock exam.
The main topics covered in the course will be: Supply and demand; The rational choice of the consumer; Individual demand and market demand; Applications of rational choice and demand theories; Production; Costs; Perfect competition; The monopoly; Imperfect competition: an approach based on game theory; The factor markets; The general equilibrium and efficiency of the markets; Externality, property rights and Coase's theorem.
lectures, exercises, insights (also in blended mode).
All students (trainees and non-trainees) will have to take a written exam. The test includes multiple-choice questions on the program topics and exercises. There is no oral exam. The mark, out of thirty, will therefore be the result of the written test only.
Knowledge and understanding: the student must demonstrate knowledge of analyzing and interpreting the individual behaviors of consumers and businesses, the functioning of competitive and non-competitive markets, the allocative properties of the market.
Ability to apply knowledge and understanding: students must show that they are able to solve problems of optimal choice of consumers and businesses, analyze supply and demand and comment on market power.
Autonomy of judgment: the student must demonstrate that he/she has developed a critical ability to understand the terms of today's debates of microeconomic relevance through the application of theoretical models to real issues.
Communication skills: the student must be able to communicate the results of the analyzes carried out with the aid of synthetic reports and graphs; must be able to correctly use scientific language for the analysis of the choices of economic agents.