Microeconomics
A.Y. 2026/2027
Learning objectives
The main goal of the course is to provide students with the basic elements of microeconomic theory, in order to build the analytical background that is necessary for any other course in economics. Toward this goal the course will first analyze the fundamental determinants of the behavior of two types of economic agents: consumers (consumption choices) and firms (production choices). Then, the interactions among agents will be studied in the context of different market structures (perfect competition, monopoly, oligopoly) and some cases of market failures and public intervention will be discussed.
Expected learning outcomes
At the end of the course students will be at ease with the basic tools that are necessary to analyze the individual choices of consumption and production, as well as the functioning of the main market forms. Through a series of examples and exercise classes, students will be able to move from microeconomic theories to their practical application to case studies. This process will allow them to apply the tools acquired also in other disciplines, such as law or political science.
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
Single session
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 exam 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 exam evaluates students' understanding of the main microeconomic models, their ability to apply them to solve economic problems, and 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.
ECON-01/A - Economics - University credits: 6
ECON-02/A - Economic Policy - University credits: 6
ECON-02/A - Economic Policy - University credits: 6
Lessons: 80 hours
Professor:
Stella Luca
Professor(s)