Advanced Microeconomics
A.Y. 2024/2025
Learning objectives
The course is designed to provide a rigorous introduction to the conceptual apparatus of modern microeconomics. Its objective is to equip students with the basic analytical tools required to read and understand contemporary literature in theoretical and applied microeconomics and to approach advanced research topics both in microeconomic theory and in other subfields of economics in which knowledge of microeconomic theory is required (e.g. development, education, health, industrial, international, labour, and public economics).
Expected learning outcomes
After the course, students must be able to use economic reasoning to understand the main determinants of individuals' and firms' decisions, the functioning of markets in real world settings, and how they are influenced by public policies or changes in economic fundamentals. This theoretical knowledge is highly complementary to the data analysis techniques that students will learn in other courses (such as "Research Methods") and are key to a correct understanding and interpretation of the empirical evidence.
Students will also acquire the basic knowledge needed to approach more advanced topics in other subfields of economics for which microeconomics is a pre-requisite (e.g. development, education, health, industrial, international, labour, and public economics, among others).
Students will also acquire the basic knowledge needed to approach more advanced topics in other subfields of economics for which microeconomics is a pre-requisite (e.g. development, education, health, industrial, international, labour, and public economics, among others).
Lesson period: Second trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Single session
Responsible
Lesson period
Second trimester
Course syllabus
Course description:
This is a course in Advanced Microeconomics. The course is designed to provide a rigorous introduction to the conceptual apparatus of modern microeconomics. We will cover topics in consumer theory, producer theory, imperfect competition, and market equilibrium. In optional parts (time permitting), we will cover topics in behavioral economics (time, risk, and social preferences).
Learning objectives:
Students should learn advanced methods of economic modelling. These skills would allow them to read and understand contemporary literature in theoretical and applied microeconomics and to approach advanced research topics both in microeconomic theory and in other subfields of economics in which knowledge of microeconomic theory is required (e.g. development, education, health, industrial, international, labour, and public economics). Applications of economic theories will also be useful in understanding results of empirical work or in conducting own economic analysis.
This is a course in Advanced Microeconomics. The course is designed to provide a rigorous introduction to the conceptual apparatus of modern microeconomics. We will cover topics in consumer theory, producer theory, imperfect competition, and market equilibrium. In optional parts (time permitting), we will cover topics in behavioral economics (time, risk, and social preferences).
Learning objectives:
Students should learn advanced methods of economic modelling. These skills would allow them to read and understand contemporary literature in theoretical and applied microeconomics and to approach advanced research topics both in microeconomic theory and in other subfields of economics in which knowledge of microeconomic theory is required (e.g. development, education, health, industrial, international, labour, and public economics). Applications of economic theories will also be useful in understanding results of empirical work or in conducting own economic analysis.
Prerequisites for admission
Microeconomics (BA level or crash-course)
Teaching methods
20 lectures covering theory and 10 tutorials with practical exams
Note for students: I consciously chose not to use slides during my lectures. Ward, Duke, Gneezy, and Bas (2017 JACR) among others show that use of electronic devices during class-time taxes students' cognitive capacity. I want you to focus. So I use hand-writing on a good old white board instead.
Note for students: I consciously chose not to use slides during my lectures. Ward, Duke, Gneezy, and Bas (2017 JACR) among others show that use of electronic devices during class-time taxes students' cognitive capacity. I want you to focus. So I use hand-writing on a good old white board instead.
Teaching Resources
The core textbook is Martin J. Osborne and Ariel Rubinstein (2020): Models in Microeconomic Theory
The book is freely available to download under a Creative Commons Attribution-NonCommercial-NoDerivs license (CC BY-NC-ND 4.0)
The book can be downloaded here: https://books.openbookpublishers.com/10.11647/obp.0211.pdf
I will also give optional references to two other books:
· For more advanced students, I will suggest corresponding chapters in a textbook meant for graduate students by Andreu Mas-Colell, Michael D. Whinston, Jerry R. Green: Microeconomic Theory (1995)
· For less advanced students, I will suggest corresponding chapters in Hal R. Varian: Intermediate Microeconomics (2010)
The book is freely available to download under a Creative Commons Attribution-NonCommercial-NoDerivs license (CC BY-NC-ND 4.0)
The book can be downloaded here: https://books.openbookpublishers.com/10.11647/obp.0211.pdf
I will also give optional references to two other books:
· For more advanced students, I will suggest corresponding chapters in a textbook meant for graduate students by Andreu Mas-Colell, Michael D. Whinston, Jerry R. Green: Microeconomic Theory (1995)
· For less advanced students, I will suggest corresponding chapters in Hal R. Varian: Intermediate Microeconomics (2010)
Assessment methods and Criteria
90 minutes written final exam; only pen, a pocket calculator (no cell phone or a device connected to the interned), and refreshments allowed.
The exam will be composed of a set of 5 problem sets with a number of sub-components. The problem sets will be (variants of) problems discussed in the tutorials. It is thus imperative to attend the exercise sessions.
The exam will be composed of a set of 5 problem sets with a number of sub-components. The problem sets will be (variants of) problems discussed in the tutorials. It is thus imperative to attend the exercise sessions.
Professor(s)