Microeconomics

The main purpose of the course is to provide students with the theoretical framework and the basic tools of economic analysis, to enable them to understand the most relevant economic phenomena and critically analyze the economic context and the activities of the various economic subjects (consumers , producers, public decision maker) in their individual choices.
The course will address the main issues of Microeconomics and the Welfare Economics with particular emphasis on the criteria that guide consumer choice and the transition from individual to market demand, the determination of the optimal production level by companies, the different market structures and the main determinants of public intervention in the economy (market failures).
In line with the educational objectives of the "International Sciences and European Institutions" course, the teaching will focus not only on the decision-making processes of public administrations, but also to interpret the different needs of citizens, families and businesses, as producers and consumers, thus enriching the transversal knowledge and skills necessary for those who aspire to careers in the public sector, or in companies operating abroad.

At the end of the cycle of lessons, students will be aware of the theoretical foundations of Economics, and will have studied various applications to real and topical problems; they will also be able to assess the microeconomic context and the consequences of its changes on the choices of economic agents. In particular, once the learning path has been successfully completed, students: (i) will be able to describe the main economic concepts analytically and graphically with appropriate language;(ii) will have learned the main market mechanisms, namely the theory of consumption and demand, the theory of production and supply, the achievement of equilibrium and price formation; (iii) will have acquired the ability to recognize and identify market failures, to reflect on solutions and to evaluate their main implications, especially in the area of policy-making, so as to understand the reasons for public intervention in the economy; (iv) will know how to make use of the basic tools for the critical analysis of the functioning of modern market economies, in particular: develop the ability to identify the variables of a problem and the relationships that bind them, to use graphic and analytical tools to simplify and adequately model reality.