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MICROECONOMICS

The course's main objective is to provide a postgraduate-level introduction to modern microeconomic theory, with a focus on consumer and producer theory, as well as the analysis of market structures.

OVERVIEW

The aim of the Module is to equip students with the theoretical knowledge that is necessary in order to understand the micro behaviour of economic agents, also in a strategic context. Moreover, students will be taught the analytical instruments that are crucial in order to read and understand the modern literature in both the theoretical and applied microeconomics.

AIMS AND CONTENT

LEARNING OUTCOMES

The module aims to provide a "postgraduate" introduction (i.e. with the mathematical formulation) of modern microeconomic theory, with a focus on demand and production theory as well as market structure, with particular reference to the theory of monopoly and oligopoly.

• Knowledge and understanding. Each student will get a good knowledge and an effective understanding of the main mechanisms underlying microeconomic behavior of consumers and firms, with a focus on consumption and production choices as well as the strategic interaction of firms.
• Capacity to apply knowledge and understanding. Each student will be able to apply her knowledge and understanding in order to effectively analyze and use reports and scientific papers, in particular when the latter are produced by economic consultancy firms, central banks and governments, with a special focus on:
  • consumption decisions of individuals and production decisions of firms
  • price formation in different markets (monopoly and oligopoly)
  • examples of economic policy interventions in the market, e.g. taxes and subsidies
• Communication skills. Each student will get the technical language of microeconomic theory which is necessary in order to communicate effectively with professional economists.
• Autonomy of judgment. Each student will be able to apply her knowledge and skills even in situations of reasonable complexity.
• Learning skills. Each student will develop adequate learning skills which will enable each student to deepen the competencies that will have been acquired during the module.

TEACHING METHODS

Theoretical lectures and computer lab aimed at in-depth study related to empirical type analysis using STATA software. Approximately 8 hours will take place in the computer lab.

SYLLABUS/CONTENT

• Consumer theory: preferences and utility functions. Demand theory (Hicksian and Marshallian demand) and relative applications
• Production theory: production function, elasticity of substitution, returns to scale, profit function, cost function. Econometric estimates of production and cost functions
• Monopoly theory and applications
• Game theory and strategic interactions: main oligopoly models, cartels and collusion

RECOMMENDED READING/BIBLIOGRAPHY

Munoz Garcia F. (2017) Advanced Microeconomic Theory. An Intuitive Approach with Examples. MIT Press.

TEACHERS AND EXAM BOARD

• MAURIZIO CONTI
• ALESSANDRO SPIGANTI (President)
• ANNA BOTTASSO (President Substitute)

LESSONS

LESSONS START

February 2024

Class schedule

The timetable for this course is available.

EXAMS

EXAM DESCRIPTION

Written exam. The program is the same for attending and non-attending students.

ASSESSMENT METHODS

Written exam containing open questions and numerical/analytical exercise. A mid-term evaluation will be scheduled.

Exam schedule

• 15/12/2025: 09:00, GENOVA
• 19/01/2026: 09:00, GENOVA
• 02/02/2026: 09:00, GENOVA
• 25/05/2026: 09:00, GENOVA
• 08/06/2026: 09:00, GENOVA
• 22/06/2026: 09:00, GENOVA

CODE AND CREDITS

• CODE:
• ACADEMIC YEAR: 2025/2026
• CREDITS: 6 cfu anno 1 ECONOMICS AND DATA SCIENCE 11937 (LM-56 R) - GENOVA
• SCIENTIFIC DISCIPLINARY SECTOR: SECS-P/02
• LANGUAGE: English
• TEACHING LOCATION: GENOVA
• SEMESTER: 2° Semester
• MODULES: Questo insegnamento è un modulo di: ECONOMIC ANALYSIS
• TEACHING MATERIALS: AULAWEB