Microeconomics
A.Y. 2026/2027
Learning objectives
The course aims to provide students with the basics of microeconomics. It aims to provide students with a general understanding of the theory of consumer choice (in the context of utility maximizing), the theory of firms decisions as regards the dual problem of maximizing production and cost minimization. Finally, the course provides students with the knowledge of different market structures. The goal is to supply students with instruments to understand the actual markets where consumers and companies interact. The students, at the end of the course, will be able to define and to investigate the real world.
Expected learning outcomes
The students will be able to analyze the real markets where companies and consumers interact, with a special focus on imperfect competition due to the strong interdependence among companies that characterizes the majority of markets in the real world. The students will gain the critical capacity of evaluating information supplied by newspapers, TV and social network, as regards interactions between companies and consumers. The critical capacity obtained at the end of the course will allow students to compare different studies and different analyses: studies with an impartial interpretation of data and analyses where there are potential attempts to manipulate data. Moreover, the students should be able to develop their own analysis in a critical way.
Lesson period: Third trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Surname A-K
Responsible
Lesson period
Third trimester
Surname L-Z
Responsible
Lesson period
Third trimester
Course syllabus
Introduction to microeconomics. Supply and demand. Consumer theory: preferences, budget constraint, consumer choice, individual and market demand, elasticity. Intertemporal choice and decision-making under uncertainty. Behavioral economics, information economics, and game theory. Theory of the firm: production and costs. Perfect competition, monopoly, and oligopoly. Externalities, public goods, and government intervention.
Prerequisites for admission
Students are expected to have a basic knowledge of algebra and elementary mathematics, together with the ability to interpret graphs and simple quantitative relationships. Introductory knowledge of economic concepts and logical reasoning skills are helpful but not essential. No prior advanced knowledge of economics is required.
Teaching methods
The course is delivered through lectures complemented by tutorial sessions devoted to problem solving, discussion of applied examples, and mock exams. Graphical analysis, empirical applications, and economic experiments are also used to facilitate the understanding of theoretical concepts and their application to real-world economic issues. The course is delivered primarily in person (Alpha mode). A limited portion of the teaching activities, not exceeding 10% of the total contact hours, may be conducted online in either synchronous or asynchronous mode. These online sessions will be used primarily for general review of the course material, question-and-answer (Q&A) sessions to clarify students' doubts and reinforce key concepts, and preparation for the final examination.
Teaching Resources
Frank R.H., Cartwright E., Microeconomics, McGraw-Hill, 8th edition (or equivalent later editions). Additional reading materials, scientific articles, and lecture notes may be provided during the course.
Assessment methods and Criteria
Learning is assessed through a written examination consisting of multiple-choice questions, including both theoretical questions and applied exercises. There is no distinction between attending and non-attending students: the examination format and assessment criteria are the same for all students. The examination is designed to assess students' understanding of the main microeconomic models, their ability to apply them to solve problems, and their ability to interpret the results. For questions requiring calculations or analytical reasoning, selecting the correct answer alone is not sufficient. Students must also provide the relevant calculations and/or a clear justification of their reasoning. The grade is based on both the correctness of the final answer and the accuracy and completeness of the supporting work. Indicating only the correct answer, without the required calculations or justification, does not entitle the student to receive the points allocated to that question. The assessment takes into account the correctness of the answers, the ability to apply economic reasoning, and the achievement of the learning outcomes specified for the course.
Professor(s)
Reception:
11.30 a.m-13.30 a.m.,Thursday
aula 9- 2° piano via Conservatorio, 7