Microeconomics (2019/2020)

Course partially running (all years except the first)

Course code
4S00239
Name of lecturers
Simone Quercia, Cristina Elisa Orso
Coordinator
Simone Quercia
Number of ECTS credits allocated
9
Other available courses
Academic sector
SECS-P/01 - ECONOMICS
Language of instruction
Italian
Location
VICENZA
Period
First semester bachelor degree dal Sep 16, 2019 al Jan 10, 2020.

Lesson timetable

Go to lesson schedule

Learning outcomes

The aim of this unit is to provide students with appropriate tools for understanding how firms and consumers take their decisions and how markets are organized, with particular emphasis on the concepts of optimization and equilibrium. Upon completing the course, the student must demonstrate to know the organization of the markets and the behavior of firms and consumers within such markets. The student will also be able to express judgments on the implications deriving from the economic agents’ choices and to compare the different market structures.

Syllabus

Textbook: "Microeconomia" by Hal R. Varian, Cafoscarina, 2011.
Additional material is available on the e-learning website.

A. Consumer Theory:
• Budget constraint (Varian, Chapter 2).
• Preferences and indifference curves (Varian, Chapter 3).
• Utility (Varian, Chapter 4).
• Choice (Varian, Chapter 5).
• Demand (Varian, Chapter 6).
• Slutsky equation (Varian, Chapter 8).
• Exchange (Varian, Chapter 9).
• Choice under uncertainty (Varian, Chapter 12).
• Consumer's Surplus (Varian, Chapter 14).
• Market demand and elasticity (Varian, Chapter 15).
• Equilibrium (Varian, Chapter 16).

B. Production Theory:
• Technology (Varian, Chapter 18).
• Profit maximization (Varian, Chapter 19).
• Cost minimization (Varian, Chapter 20).
• Cost Curves (Varian, Chapter 21).
• Perfect competition in the short and the long term (Varian, Chapters 22 and 23).
• Monopoly (Varian, Chapter 24).
• Monopolistic behaviour (Varian, Chapter 25).
• Oligopoly (Varian, Chapter 27).

C. Game theory
• Game theory (Varian, Cap. 28)
• Game theory applications (Varian, Cap. 29)

The teaching method consists of 56 hours of theoretical lectures and and 24 hours of tutorials. In addition, an additional 20-hour tutorial will be organized to help students solve the exercises. All material will be available on the e-learning website.

Reference books
Author Title Publisher Year ISBN Note
Cipriani G.P., Fioroni T. Esercizi di Microeconomia (Edizione 4) Giappichelli 2020 9788892109308
Varian H. Microeconomia (Edizione 8) Cafoscarina 2011 9788875433079

Assessment methods and criteria

Midterm exam
- When: about halfway through the semester.
- It consists of 11 multiple choice questions (some of which will take the form of exercises).
- Points in the midterm exam: Correct Answer +3, Wrong Answer -1/3, No Answer 0.
- The midterm exam will be considered passed with a minimum score of 15/30. The midterm exam will count 50% of the final grade.

Final exam
- For the ones who have passed the midterm exam, the final exam will be on the second part of the lectures.
- For the ones who have not taken or have not passed the midterm exam, the final exam will be on the entire syllabus.
- It consists of 11 multiple choice questions (some of which will take the form of exercises).
- Points in the final exam: Correct Answer +3, Wrong Answer -1/3, No Answer 0.

CORONAVIRUS= during the emergency period the exam will be in both written and oral on the software ZOOM.