Bachelor Degree in Business Administration and Economics

Dear Students,

Please be informed that students who wish to review their written exam (multiple-choice and open-ended questions) from the second midterm (esonero) or the final exam held on May 26th may do so on Thursday, June 18th, 2026, starting from 4:00 PM (immediately following the conclusion of the second written exam session).

The review will take place in the Sala Acquario, located on the second floor of Building B (Department of Economics and Finance).

Logistical note: Upon entering the department, the room is the glass-walled classroom located immediately on your right.

Results Final Exam 26 May 2026

Group Work and Final Bonus

As you know, the Microeconomics course (BA&E, II Module) experimented with group projects presented throughout the year. Active participation in these activities is an important factor in developing teamwork and team-building skills and, as previously announced, will affect your final grade.

To this end, please fill out the form available at the following [LINK] no later than June 12, 2026, to determine your bonus.

The bonus (ranging from 1 to 3 points) is based on mutual trust. Providing false information in the form (e.g., names of group members who did not participate or contribute) will be considered a serious violation of personal and academic ethics.

Grade Registration and Office Hours

Students who reject their grade (with and/or without the bonus) will not be allowed to take the second exam session (appello) and must therefore sit for the July session.

Grades will be officially registered (verbalizzato) on June 22, 2026, at 9:30 AM.

If needed, I will be available to discuss your final result in the Aula Acquario of the DEF Department (Building B, second floor). As soon as you enter the Department, you will find the glass room on your right; I will be there waiting for you.

Over the next few weeks, I will be away on a research mission and busy with the closing of the second semester. Therefore, the day of grade registration will be the primary opportunity for a direct discussion.

Best regards,

Sara Savastano

Results II MIDTERM + I MIDTERM 

Group Work and Final Bonus

As you know, the Microeconomics course (BA&E, II Module) experimented with group projects presented throughout the year. Active participation in these activities is an important factor in developing teamwork and team-building skills and, as previously announced, will affect your final grade.

To this end, please fill out the form available at the following [LINK] no later than June 12, 2026, to determine your bonus.

The bonus (ranging from 1 to 3 points) is based on mutual trust. Providing false information in the form (e.g., names of group members who did not participate or contribute) will be considered a serious violation of personal and academic ethics.

Grade Registration and Office Hours

Students who reject their grade (with and/or without the bonus) will not be allowed to take the second exam session (appello) and must therefore sit for the July session.

Grades will be officially registered (verbalizzato) on June 22, 2026, at 9:30 AM.

If needed, I will be available to discuss your final result in the Aula Acquario of the DEF Department (Building B, second floor). As soon as you enter the Department, you will find the glass room on your right; I will be there waiting for you.

Over the next few weeks, I will be away on a research mission and busy with the closing of the second semester. Therefore, the day of grade registration will be the primary opportunity for a direct discussion.

Best regards,

Sara Savastano

Dear Students

this is to inform you that the exam of May 26th, II midterm and final exam will take place in T2 @11:30 AM

Kind Regards,

Sara Savastano

I have uploaded the new file with the exercises.

VA

Dear Students,

I have just updated the Mock Exam 1 file with solutions. 

I owe you a clarification concerning the solution to Exercise 13 (multiple choice). 

Following our discussion during today's class, we concluded that the correct answer to that question was (D), although (B) could be good as well. Actually, after a second thought on the question, I have to say that the correct answer is (B) "Quantity demanded to decrease". Below I explain why.

The substitution effect isolates how a consumer responds to a change in relative prices, holding utility constant (i.e., we move along the same indifference curve to a new point where the marginal rate of substitution equals the new price ratio). When a good's price rises, it becomes relatively more expensive compared to other goods, so the consumer substitutes away from it. This effect always works in the opposite direction of the price change — it's what makes demand curves slope downward even before we consider the income effect.

Could (D) also be correct?

It's tempting, because the substitution effect does involve moving to a different point on the indifference curve, which is technically a different bundle. However, there are two problems with (D):

1. Perfect complements (L-shaped indifference curves): When goods must be consumed in fixed proportions, the substitution effect is exactly zero. The consumer doesn't switch to a different bundle along the indifference curve because the "corner" of the L is the only rational point. In this case (D) would be false, so it doesn't always hold.
2. Lack of precision: (D) doesn't tell us the direction of the change, which is the economically meaningful insight. The whole point of identifying the substitution effect is that it reliably predicts a decrease in the quantity demanded of the good whose price rose.

Interestingly, the same perfect-complements edge case means (B) is also not literally universal—with perfect complements the substitution effect is zero, not negative. But the standard textbook convention treats (B) as correct, either by implicitly assuming some degree of substitutability or by interpreting "decrease" as "decrease or stay the same." In an exam setting, (B) is unambiguously the intended answer.