MICROECONOMICS

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 are analyzed.

Basic algebra and differential calculus.

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 LUISS Learn 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 judgements: 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.

The theory of consumer behaviour. The theory of production. Market structure. Game theory. Price discrimination. Information asymmetries, externalities and public goods.

D.A. Besanko-R.R. Braeutigam, Microeconomics, McGraw-Hill (last edition). For a thorough analysis, see H.R. Varian, Microeconomia, Cafoscarina (last edition).

Lectures and written exercises based on the problem set which will be made available few days before the class. Students are urged to attempt the assigned problems before attending classes. The solution of the problem sets will be given in class (on line or on campus).

The student will be evaluated on the basis of the individual scores achieved on: - Either intermediate and second written exams (both individual), or final written exam. - Participation to multiple choice tests: bonus. - Problem sets: bonus. The goal of the tests is to assess students' knowledge and understanding of the teaching material, as well as their autonomy of judgment and ability to apply the knowledge developed during the course. The written tests consist of a mix of true/false questions with motivation and exercises, with which the student have to demonstrate knowledge of the theoretical notions of teaching, knowing how to apply them in practical cases demonstrating that he has achieved the method of study and the learning ability necessary to continue the study of the subject autonomously. The exact combination of each type of questions will be decided by the lecturer during the course. The failure to achieve at least the score of 18/30 will result in failure to pass the exam. Correct answers to all the questions and the correct execution of all the exercises will result in a score of 30/30 cum laude. Any other information about exam or the problem sets can be found on the platform.

Pass the exam.