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Syllabus

EN IT

Updated A.Y. 2023-2024

LEARNING OUTCOMES:
This course provides the tools to understand and analyse the functioning of different market structures. The course focuses on Natural Monopoly, Monopolistic Competition, Oligopoly making a comparison with perfect competition. The course will present the rationale of public interventions, mainly through taxation and regulation. The course will present the European Competition policies and will present real case applications. Students will also develop strategic interaction, game theory through rational and behavioral approach.

KNOWLEDGE AND UNDERSTANDING: 
The course aims to provide students with both theoretical and methodological tools through which they develop knowledge and understanding of: 1) the market structures of imperfect competition; 2) the policy instruments of the public intervention to regulate markets; 3) the taxation system; 4) application of relevant European Competiton procedures (cartel and merger procedures)

APPLYING KNOWLEDGE AND UNDERSTANDING:
During the course students will exercise on imperfect markets and experimental games where they will make decisions in a strategic context through experiments in a virtual or in-person (or mixed) lab. Students will also work on a team assignment to present in class.

MAKING JUDGEMENTS:
At the end of the course tudents will have the tools to critically analyse and interpret different market structures and their functioning. Students will acquire also the tools to evaluate real-cases applications of market regulation policies.

COMMUNICATION SKILLS:
Students will acquire the ability to vehiculate economic arguments with improved economic-technical language. acquired in the context of the topics covered during the course

LEARNING SKILLS:
At the end of the course, students will have the conceptual tools and the knowledge necessary to continue their studies, also analyzing critically: 1) the motivations underlying the choices in the contexts of strategic interaction; 2) the different contexts of imperfect market and the related public regulations

 

PROGRAM

Taxation
Monopoly and natural monopoly
Natural monopoly regulation
Oligopoly
Comparisons with perfect competition
Competition policies
Real case application of European competition policies
Introduction to game theory
Pure and mixed strategy, Nash equilibrium
Equilibrium of Cournot, Bertrand and Stackelberg,
Entry game, the credible and not credible threats,
Experimental games: Dictator game, ultimatum game, Trust game, Public good game. Social preferences (distributional, psychological, and moral)

Students will participate in experimental games in behavioral economics labs in presence or virtual or blended. Students will work on group assignment that will be presented in class