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Course description
  MICROECONOMICS I

Competencies and objectives

 

Course context for academic year 2021-22

Overview. Welcome to Microeconomics I. This is the first course in a year-long course in microeconomic theory. This course is designed with the two main purposes of giving students a systematic grounding in Microeconomics and preparing them to use economic models in their own research. We will cover the topics of consumption theory, production theory, partial equilibrium, individual decision making with uncertainty, the Arrow-Debreu general equilibrium model, and some basic issues in welfare measurement. While the topics in the course are mathematical, the emphasis is on economic content and research methodology rather than proofs and technical details. Nevertheless, we will use mathematical arguments to help explain the intuition of the theories studied.

Prerequisites. This class assumes a basic knowledge of intermediate microeconomics, and some level of mathematical sophistication, particularly with respect to optimization. A good place to start to get some mathematical background is the mathematical appendix in Mas-Colell, Whinston and Green. Similarly, if you have never taken Economics before, you may want to have a look at an undergraduate Microeconomics text. Among the good options are the books by Varian, and by Pindyck and Rubinfeld.

Requirements. Formal requirements for the course include regular attendance and participation in lectures, a number of problem sets, and a final examination.

Reading. The main text for the course is Mas-Colell, A., M. Whinston and J. Green, Microeconomic Theory (Oxford University Press, 1995). Students are encouraged to buy it. I will also use extensively Jehle, G. and P. Reny, Advanced Microeconomic Theory (Financial Times Prentice Hall, 3rd Revised edition, 2010). Other interesting textbooks are Rubinstein, A., Lecture Notes in Microeconomic Theory  (Princeton University Press, 2006), Kreps, D., A Course in Microeconomic Theory (Princeton University Press, 1990), and Varian, H., Microeconomic Analysis (Norton, 3rd ed., 1994).

 

 

Course content (verified by ANECA in official undergraduate and Master’s degrees)

General Competences (CG)

  • CG3 : Capacity to apply economic theory to represent real situations.
  • CG4 : Capacity for teamwork.
  • CG5 : Capacity for self-learning.
  • CG6 : Ethical commitment and social responsibility at work, respecting the environment, being aware and understanding the importance of respect for fundamental rights, equal opportunities for men and women, universal accessibility for the disabled and respect for the values of a peaceful, democratic society.
  • CG7 : Analyse problems using critical reasoning, without prejudice and with precision and rigor.
  • CG8 : Capacity for synthesis.

 

Specific Competences (CE)

  • CE1 : Capacity to read Economic research articles in a reasoned fashion and evaluate them critically, understand their essential contributions and weaknesses.
  • CE2 : Capacity to understand how the technical problems faced by authors of research articles have been resolved in each case.
  • CE3 : Capacity to test theorems and propositions.
  • CE5 : Capacity to present important economic problems precisely and respond adequately to said problems by using the techniques learnt on the different courses, using theoretical and empirical analyses or simulations if necessary.

 

 

 

Learning outcomes (Training objectives)

No data

 

 

Specific objectives stated by the academic staff for academic year 2021-22

This course is designed with the two main purposes of giving students a systematic grounding in Microeconomics and preparing them to use economic models in their own research.

 

 

General

Code: 41202
Lecturer responsible:
PONTI, GIOVANNI
Credits ECTS: 6,00
Theoretical credits: 1,60
Practical credits: 0,40
Distance-base hours: 4,00

Departments involved

  • Dept: FOUNDATIONS OF ECONOMIC ANALYSIS
    Area: FOUNDATIONS OF ECONOMIC ANALYSIS
    Theoretical credits: 1,6
    Practical credits: 0,4
    This Dept. is responsible for the course.
    This Dept. is responsible for the final mark record.

Study programmes where this course is taught