The aim of this course is to give students the conceptual basis and the necessary tools for understanding modern microeconomics. The course is divided into two distinct parts: the first deals with the problems relating to consumption and production choices. In the second one, the lessons will be focused on the analysis of market forms and the strategic behavior of economic agents, with particular attention to applications relating to oligopolistic markets. In addition, the theories of price discrimination and that of general economic equilibrium are analyze

Knowledge and understanding: the student is able to understand both the theories and microeconomic phenomena relating to the functioning of markets and the lines that can inspire economic policy actions, in the context of economies with a strong evolutionary dynamics such as contemporary ones. Further attention is paid to the analysis of competitive contexts, to the discipline of competition, to the regulation of the sectors of economic activity for which there are forms that limit competition. The reference methods are inductive, deductive, static and dynamic. Applying knowledge and understanding: the student will have the methodological tools that will allow him to apply the basic economic knowledge acquired during the courses in the work contexts in which he will work. These skills, in addition to being assessed in the final phase in the final verification moments, will be monitored in itinere through intermediate tests provided for each course, which will constitute a fundamental moment of improvement or adjustment of teaching based on the results achieved (both at the level of individual students than at the class group level) but also to verify the acquired preparation. Furthermore, the presence of multimedia contents available on the Moodle platform (videos, slides, exercises, forums, working groups, etc.) will give the possibility to create a permanent interaction between class and teacher, giving the opportunity to verify in real time the hard and soft skills acquired by students. Making judgments: the student acquires methodological tools useful for the analysis and interpretation of microeconomic phenomena, even at an international level, and is able to critically evaluate the institutional context. Communication Skills: the student develops and strengthens communication skills, processing and synthesis of data relating to problems under study, also through the acquisition of specific economic terminology Learning skills: the student will be introduced to a higher level study method, which will allow him to break down problems in their complexity and to manage their solutions in specific applications.

Consumer theory (preferences, utility, demand functions, income and substitution effects, elasticities, consumption-leisure, inter-temporal consumption, risk aversion). The theory of the firm ( technology, profit maximization, cost mimization) Competitive markets; monopoly; oligopolistic markets; general equilibrium

D.A. Besanko – R.R. Braeutigam, Microeconomia, McGraw-Hill L. Vitali Microeconomia Universitalia (2019)

The course will include frontal lectures and exercises conducted in class with student participation.

The student's evaluation will be articulated as follows : 1. Final examination (individual written test). The test will consist of 3 exercises and 3 true/false questions with brief explanation. with which the student will have to demonstrate that he/she knows the theoretical notions of the teaching, knows how to apply them in practical cases, demonstrating that he/she has achieved the study method and learning ability necessary to continue even independently the in-depth study of the subject. Through this test, knowledge and comprehension skills are mainly intended to be tested; 2. Participation in an online experiment: 1 bonus point on the final grade. Through these activities it is intended to test mainly the ability to apply the knowledge and skills acquired in the course. 3. 2 Multiple-choice tests taken during the course: 0.5 bonus points for each test. 4. Solution and delivery of problem sets. Failure to achieve a score of 18/30 will result in failing the exam. Correct answer to all questions and correct execution of exercises results in a score of 30/30. Further details on learning verification methods, participation in online games, exercises and bonus points will be provided on the Luiss Learn platform.

Having passed the exam.