MICROECONOMIC ANALYSIS

The course aims at providing knowledge of methods and topics of advanced microeconomic theory, with focus on choices of individual economic agents (consumers, firms) in competitive environments without and with uncertainty. Some elements of competitive equilibrium analysis and welfare will also be discussed.

Intermediate Microeconomics, Mathematics for Economics

KNOWLEDGE AND UNDERSTANDING: The student will be able to analyze and understand the main phenomena described and analyzed during the course, in relation to the behavior of individual economic agents and the economic mechanisms of production and exchange. APPLYING KNOWLEDGE AND UNDERSTANDING: At the end of the course, the student must be able to use the tools of theoretical analysis for an advanced understanding of microeconomic phenomena. MAKING JUDGEMENTS: The student will acquire the ability to judge in an autonomous way the microeconomic problems, also in relation to specific applications. COMMUNICATION SKILLS: The student will acquire the specific language of microeconomics in order to communicate precisely the concepts learned. LEARNING SKILLS: The student will learn the methodology of analysis of the main problems related to the microeconomic issues.

Individual decision making: Preference and Choices. Consumer Choice and Classical Demand Theory. Production Theory. Competitive markets: a partial equilibrium analysis. General Equilibrium Theory. First and Second Fundamental Theorems of Welfare Economics. Individual Decision Making under Uncertainty.

A. Mas-Colell, M.D. Whinston and J.R. Green, Microeconomic Theory, Oxford University Press, 1995 Varian H.R., Intermediate Microeconomics: A Modern Approach, W.W. Norton and Company Ed.

Lectures, Inverted classes, Practice Classes, Presentations. All activities are on campus.

ATTENDANCE: Students who actively participate in at least 70% of classes are considered to be attending. Classroom attendance is recorded through the BEACON system. Students who do not reach the minimum classroom attendance threshold of 70% become NON-ATTENDING. The request to be exempted from compulsory attendance should be submitted to the Graduate School office by the first week of the semester and does not depend on the lecture. EVALUATION: Attending students are evaluated with the continuous assessment (1/3 of the overall evaluation) AND with an individual final exam (2/3 of the overall evaluation). The continuous assessment consists of two intermediate individual written tests, to be held on October 8th, 2025 and on November 12th, 2025 during class. The continuous assessment aims at monitoring progressive learning and skills' acquisition, through exercises and questions. The assessment will select the best of the two obtained grades to be a attached a weight of 1/3 of the final evaluation. The continuous assessment is mandatory for attending students. Continuous assessment's grades cannot be refused. The final exam aims at the recognition of the knowledge and skills acquired and consists of an individual written examination. The combination of continuous assessment (one-third) and final exam (two-thirds) is valid ONLY in the examination dates scheduled at the end of the semester in which the course is taught. In subsequent examination sessions (retake sessions), ALL students are evaluated exclusively through an individual written examination (100%), thus the continuous assessment grade is lost. Students who are exempted from compulsory attendance or are NON-ATTENDING, shall take a final individual written examination that corresponds to 100% of the overall evaluation, and which is based on a study load that includes all the topics presented in class and a supplementary work load that can compensate for the missed knowledge acquisition over the semester. Specifically, the NON-ATTENDING student shall also study the revealed preference approach (in Chapters 1-2-3) and choice under uncertainty (Chapter 6) of Mas-Colell-Whinston-Green. In every written exam, the student will be allowed to withdraw up to 15 minutes before the end on the test, but in case the student turns in the assignment, the grade received may not be refused. For students enrolled in years before 2025-26, the rules applied will be those of the year in which the course is taught.

Interview with the professor.