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Single discipline educational activity
Course Sheet Academic Year of enrolment:
Professor and Collaborators:
Hours of classroom activity:
Prerequisites:
Basic knowledge of calculus.
Objectives
Contents Consumption Theory. Production Theory. Market Theory.
General Equilibrium.
Extended Syllabus Preferences and consumption: Utility function, Indifference curves; Utility maximization and demand functions; Expenditure minimization and compensated demand functions; Income and substitution effect; Demand elasticity.
Gain from trade: Edgeworth box and Pareto efficiency under different market structures.
Intertemporal choices and capital markets: Market frictions; Discounted utility.
Choices under risk: Expected utility; Risk aversion; Insurance markets.
Production theory and technology: Production function, marginal and average product; Economies of scale; Production costs; Profit maximization; Cost minimization; Production possibility frontier; Production and exchange.
Labor market: labor supply; labor demand; market equilibrium.
Market theory: Perfect competition, Monopoly and monopsony; Price discrimination; Monopolistic competition; Oligopoly.
Recommended Bibliography Varian, H. (ult.ed.), Microeconomia, Cafoscarina, Pandimiglio A. – Spallone M., problemi di Microeconomia, CEDAM
Methods of Provision
Teaching Methods Frontal lessons, recitations, experiments, class notes and other documents made available by the teacher.
Evaluation methods Verification of learning:
Written exam, consisting of both exercises and short essays, aimed at testing the capability of students solving problems through the correct application of microeconomic theory.