Syllabus
EN
IT
Basic knowledge of mathematics is required.
The course consists of 2 modules of 36 hours for a total of 72 hours of lectures in an interactive environment between professors and students. The slides used in class are made available on the course website at the end of each lesson.
There will be weekly exercises to delve deeper into the topics and to test innovative teaching methods, such as Timed Responses and the 5Ws method. The 5Ws method is an originally journalistic technique that involves answering five key questions to provide all essential information about an event, topic, or fact in a clear and concise way. The five questions are: Who?, What?, When?, Where?, and Why?.
Frequenza del Corso
Attendance at lectures is optional, and the teaching materials (textbook and slides) are sufficient to prepare for the written exam.
However, participation is strongly recommended. The instructor's approach is based on innovative teaching methods that promote interaction, the development of interpersonal skills, and teamwork — all essential elements for entering the job market.
Actively participating in class will allow you to acquire not only theoretical knowledge but also practical skills that self-study alone cannot provide.
Introduction (Week 1)
o Fundamentals of Economic Analysis: Basic principles, economic model building, concepts of optimization and equilibrium.
• Consumer Theory (Week 2-3-4)
o Preferences and Utility: Analysis of consumer preferences, the concept of indifference curves, and utility functions.
o Budget Constraint and Optimal Choice: Study of the budget constraint and how consumers make decisions to maximize utility.
o Demand Theory: Derivation of individual and market demand, income and substitution effects, and the concept of consumer surplus.
• Production and Cost Theory (Week5- 6-7)
o Production: Production functions, returns to scale, and cost minimization.
o Cost Curves: Analysis of production costs in the short and long run, including average and marginal costs.
• Market Structures ((Week 8-9)
o Demand and Supply: Study of demand and supply curves, determination of market equilibrium, and comparative statics analysis.
o Perfect Competition: Market characteristics, short and long-run equilibrium, and practical applications.
o Monopoly: Causes, monopolist behavior, price and quantity determination, and price discrimination.
o Imperfect Competition and Game Theory: Models of oligopoly and monopolistic competition, introduction to game theory to analyze strategic interactions among firms.
• Advanced Topics and Applications (Week 9)
o Risk and Uncertainty: Study of expected utility, risk aversion, and decisions under uncertainty.
o General Equilibrium and Welfare: Concepts of Pareto efficiency and the fundamental theorems of welfare economics.
o Behavioral Economics: Introduction to the principles of behavioral economics that deviate from traditional rational models.
Learning Objectives
The Microeconomics course provides a solid and rigorous foundation in the fundamental principles of economic analysis and on the behavior of individuals, firms, and institutions in markets. The teaching approach combines traditional theory with an evidence-based and analytical application approaches, encouraging students to interpret real-world economic problems and to link theory with applications to the decision-making processes of individuals, firms, and policies.
The course has a dual goal:
• Build a solid foundation of knowledge in traditional microeconomic theory.
• Develop evidence-based synthesis skills, which means the concise and accurate presentation of scientific evidence on a specific topic.
By the end of the course, students will be able to:
• Analyze individual choices under conditions of scarcity.
• Understand how markets function in different competitive contexts.
• Evaluate the role of institutions and public policies.
• Use knowledge, data, and empirical evidence to analyze real-world problems.
• Integrate theory and practice, linking microeconomic concepts to the decision-making processes of individuals, firms, and economic policies.
In this course, we will explore the basic elements of the theory of individual consumption and production choices, with particular attention to the neoclassical theory of value and costs, as well as the market forms of monopoly and perfect competition, framing them within a critical and not always utilitarian view of the market.
EXPECTED LEARNING OUTCOMES:
KNOWLEDGE AND UNDERSTANDING:
Students will acquire methodological and practical skills that will facilitate their understanding of economic and behavioral phenomena within market forms.
• Know the characteristics of consumers and producers.
• Know the tools for evaluating and understanding the behavior of market players.
• Know and understand the characteristics of different market forms.
• Understand how consumer behavior influences the choices made by producers.
• Know the different forms of market equilibrium.
• Pareto and Marshallian improvements
• Public Policies and Monopoly
APPLYING KNOWLEDGE AND UNDERSTANDING
Through the knowledge and understanding acquired, the student must be able to develop skills/abilities to:
• autonomously find and access information on the economic system, the determinants of spending, and the understanding of different types of costs.
• understand how to make investments within a company.
AUTONOMY OF JUDGMENT:
• Develop independent reflections on various topics related to the market for Goods and Services.
• Have the ability to integrate knowledge and manage complexity, as well as to formulate judgments based on limited or incomplete information, including reflection on the social and ethical responsibilities related to the application of the principles of neoclassical economic theory.
The course's approach seeks to connect economic and financial aspects with social ones to foster a constructive attitude towards problems by acquiring skills and a problem-solving mindset.
COMMUNICATION SKILLS:
• Express themselves, in written and oral form, using a technical language appropriate to the interlocutors and the reference context;
• Ability to analyze problems, even complex ones;
• Relational skills;
• Ability to work in a group, manage stress, and handle conflict situations.
LEARNING ABILITIES:
• Develop analyses on the topics of corporate groups;
• Stay updated on sustainability issues;
• Deepen knowledge on the topics related to Supply and Demand;
• Build and develop a study and research method suitable to allow for the deepening of acquired knowledge.
The course has a dual goal:
• Build a solid foundation of knowledge in traditional microeconomic theory.
• Develop evidence-based synthesis skills, which means the concise and accurate presentation of scientific evidence on a specific topic.
By the end of the course, students will be able to:
• Analyze individual choices under conditions of scarcity.
• Understand how markets function in different competitive contexts.
• Evaluate the role of institutions and public policies.
• Use knowledge, data, and empirical evidence to analyze real-world problems.
• Integrate theory and practice, linking microeconomic concepts to the decision-making processes of individuals, firms, and economic policies.
In this course, we will explore the basic elements of the theory of individual consumption and production choices, with particular attention to the neoclassical theory of value and costs, as well as the market forms of monopoly and perfect competition, framing them within a critical and not always utilitarian view of the market.
EXPECTED LEARNING OUTCOMES:
KNOWLEDGE AND UNDERSTANDING:
Students will acquire methodological and practical skills that will facilitate their understanding of economic and behavioral phenomena within market forms.
• Know the characteristics of consumers and producers.
• Know the tools for evaluating and understanding the behavior of market players.
• Know and understand the characteristics of different market forms.
• Understand how consumer behavior influences the choices made by producers.
• Know the different forms of market equilibrium.
• Pareto and Marshallian improvements
• Public Policies and Monopoly
APPLYING KNOWLEDGE AND UNDERSTANDING
Through the knowledge and understanding acquired, the student must be able to develop skills/abilities to:
• autonomously find and access information on the economic system, the determinants of spending, and the understanding of different types of costs.
• understand how to make investments within a company.
AUTONOMY OF JUDGMENT:
• Develop independent reflections on various topics related to the market for Goods and Services.
• Have the ability to integrate knowledge and manage complexity, as well as to formulate judgments based on limited or incomplete information, including reflection on the social and ethical responsibilities related to the application of the principles of neoclassical economic theory.
The course's approach seeks to connect economic and financial aspects with social ones to foster a constructive attitude towards problems by acquiring skills and a problem-solving mindset.
COMMUNICATION SKILLS:
• Express themselves, in written and oral form, using a technical language appropriate to the interlocutors and the reference context;
• Ability to analyze problems, even complex ones;
• Relational skills;
• Ability to work in a group, manage stress, and handle conflict situations.
LEARNING ABILITIES:
• Develop analyses on the topics of corporate groups;
• Stay updated on sustainability issues;
• Deepen knowledge on the topics related to Supply and Demand;
• Build and develop a study and research method suitable to allow for the deepening of acquired knowledge.
VINCENZO ATELLA
SARA SAVASTANO
Prerequisites
Basic knowledge of mathematics is required.
Program
The course consists of 2 modules of 36 hours for a total of 72 hours of lectures in an interactive environment between professors and students. The slides used in class are made available on the course website at the end of each lesson.
There will be weekly exercises to delve deeper into the topics and to test innovative teaching methods, such as Timed Responses and the 5Ws method. The 5Ws method is an originally journalistic technique that involves answering five key questions to provide all essential information about an event, topic, or fact in a clear and concise way. The five questions are: Who?, What?, When?, Where?, and Why?.
Frequenza del Corso
Attendance at lectures is optional, and the teaching materials (textbook and slides) are sufficient to prepare for the written exam.
However, participation is strongly recommended. The instructor's approach is based on innovative teaching methods that promote interaction, the development of interpersonal skills, and teamwork — all essential elements for entering the job market.
Actively participating in class will allow you to acquire not only theoretical knowledge but also practical skills that self-study alone cannot provide.
Introduction (Week 1)
o Fundamentals of Economic Analysis: Basic principles, economic model building, concepts of optimization and equilibrium.
• Consumer Theory (Week 2-3-4)
o Preferences and Utility: Analysis of consumer preferences, the concept of indifference curves, and utility functions.
o Budget Constraint and Optimal Choice: Study of the budget constraint and how consumers make decisions to maximize utility.
o Demand Theory: Derivation of individual and market demand, income and substitution effects, and the concept of consumer surplus.
• Production and Cost Theory (Week5- 6-7)
o Production: Production functions, returns to scale, and cost minimization.
o Cost Curves: Analysis of production costs in the short and long run, including average and marginal costs.
• Market Structures ((Week 8-9)
o Demand and Supply: Study of demand and supply curves, determination of market equilibrium, and comparative statics analysis.
o Perfect Competition: Market characteristics, short and long-run equilibrium, and practical applications.
o Monopoly: Causes, monopolist behavior, price and quantity determination, and price discrimination.
o Imperfect Competition and Game Theory: Models of oligopoly and monopolistic competition, introduction to game theory to analyze strategic interactions among firms.
• Advanced Topics and Applications (Week 9)
o Risk and Uncertainty: Study of expected utility, risk aversion, and decisions under uncertainty.
o General Equilibrium and Welfare: Concepts of Pareto efficiency and the fundamental theorems of welfare economics.
o Behavioral Economics: Introduction to the principles of behavioral economics that deviate from traditional rational models.
Books
• Textbook:
o David A. Besanko, Ronald R. Braeutigam, Microeconomics, IV or V Edition, 2020, 2024, McGraw-Hill. (Italian edition edited by Giam Pietro Cipriani, Paolo Coccorese, Stefania Ottone)
• Supplementary materials: Slides, exercises, analytical applications, and policy briefs provided by the lecturer
o David A. Besanko, Ronald R. Braeutigam, Microeconomics, IV or V Edition, 2020, 2024, McGraw-Hill. (Italian edition edited by Giam Pietro Cipriani, Paolo Coccorese, Stefania Ottone)
• Supplementary materials: Slides, exercises, analytical applications, and policy briefs provided by the lecturer
Exam Rules
EXAM REGULATIONS
The exam consists of a traditional written test that includes a combination of multiple-choice questions, dichotomous (True/False) questions, open-ended questions, multi-part structured questions, and practical exercises. The written exam has a maximum duration of 90 minutes. The tests are based on the indicated texts and materials, with no differences between attending and non-attending students.
Exam Passing Modalities
• Mid-terms: The final grade can be determined by the arithmetic mean of two mid-term exams taken during the course, provided that the average is 18 or higher.
• Final Written Exam: Alternatively, students can take a final written exam during one of the sessions, where a score of 18 or higher is required to pass.
• Those who do not pass the two midterm exams cannot attend the first exam session
Scoring for Multiple-Choice Questions:
• Correct answer = +1 point.
• Wrong answer = -0.3 points.
• No answer = 0 points (neither positive nor negative).
DISCRETIONARY ORAL EXAM: CREATIVE ORAL
An oral exam may be possible at the discretion of the lecture
Students who wish to engage in innovative exam formats aimed at developing advanced communication skills have the option to take a voluntary oral exam. This test, called "Creative Oral," aims to connect traditional economic concepts with modern professional and media communication dynamics.
The goal is to foster synthesis, clear exposition, and the ability to make complex topics accessible. The test may take one of the following forms:
• Timed Responses: Concise and rapid responses (max 2 minutes) to specific questions, to practice effective communication under pressure.
• Lightning Talk: A structured 7-minute presentation that requires presenting a topic quickly and incisively, typical of professional formats.
• "Economic Telling": A narrative approach inspired by storytelling to explain an economic concept or a case study, making it more memorable and accessible to the public.
• Video Explainer: Creation of short videos or tutorials for digital platforms, with the goal of communicating economic content in a clear and modern way.
The lecturer reserves the right to propose and evaluate other formats, to be agreed upon with the students. All materials produced will be subject to strict controls to verify their originality and prevent plagiarism.
Suggestions for the Lightning Talk or Group "Lightning Oral"
Students, in groups of a maximum of 3 people, will have to prepare a presentation that will take place through a lightning talk (Group "Lightning Oral") of a maximum of 7 minutes, with the mandatory participation of all members. The order of presentation of team members will be random, chosen by the lecturer during the exam.
The presentation will be supported by a PowerPoint presentation.
Lightning Talk Structure (max 7 slides) (oral)
• Slide 0: Title, authors, objectives.
• Slide 1-2: Theoretical background and economic problem.
• Slide 3: Literature review.
• Slide 4: 5W+1H.
• Slide 5-6: Empirical evidence and data.
• Slide 7: Conclusions, policy, and decision-making implications.
*The 5 W's rule includes: What – What, Who – Who, Where – Where, When – When, Why – Why.
The project aims to develop synthesis skills, clear exposition, and adherence to time limits.
The lightning talk and oral exams will be evaluated based on:
• Clarity of exposition and the contribution of each member.
• Synthesis skills and adherence to timing/structure.
• Technical rigor in the use of microeconomic concepts.
• Soundness of empirical evidence.
• Relevance of the link between theory and topic.
• Coherence and significance of conclusions and policy implications.
La metodologia didattica prevede lezioni frontali teoriche e pratiche, attività didattiche per affiancamento degli studenti nella preparazione dell’elaborato finale, e se previsto, “ l’orale creativo”
The teaching methodology includes theoretical and practical lectures, tutoring activities to support students in preparing their final paper, and, if planned, the "creative oral exam".
The exam consists of a traditional written test that includes a combination of multiple-choice questions, dichotomous (True/False) questions, open-ended questions, multi-part structured questions, and practical exercises. The written exam has a maximum duration of 90 minutes. The tests are based on the indicated texts and materials, with no differences between attending and non-attending students.
Exam Passing Modalities
• Mid-terms: The final grade can be determined by the arithmetic mean of two mid-term exams taken during the course, provided that the average is 18 or higher.
• Final Written Exam: Alternatively, students can take a final written exam during one of the sessions, where a score of 18 or higher is required to pass.
• Those who do not pass the two midterm exams cannot attend the first exam session
Scoring for Multiple-Choice Questions:
• Correct answer = +1 point.
• Wrong answer = -0.3 points.
• No answer = 0 points (neither positive nor negative).
DISCRETIONARY ORAL EXAM: CREATIVE ORAL
An oral exam may be possible at the discretion of the lecture
Students who wish to engage in innovative exam formats aimed at developing advanced communication skills have the option to take a voluntary oral exam. This test, called "Creative Oral," aims to connect traditional economic concepts with modern professional and media communication dynamics.
The goal is to foster synthesis, clear exposition, and the ability to make complex topics accessible. The test may take one of the following forms:
• Timed Responses: Concise and rapid responses (max 2 minutes) to specific questions, to practice effective communication under pressure.
• Lightning Talk: A structured 7-minute presentation that requires presenting a topic quickly and incisively, typical of professional formats.
• "Economic Telling": A narrative approach inspired by storytelling to explain an economic concept or a case study, making it more memorable and accessible to the public.
• Video Explainer: Creation of short videos or tutorials for digital platforms, with the goal of communicating economic content in a clear and modern way.
The lecturer reserves the right to propose and evaluate other formats, to be agreed upon with the students. All materials produced will be subject to strict controls to verify their originality and prevent plagiarism.
Suggestions for the Lightning Talk or Group "Lightning Oral"
Students, in groups of a maximum of 3 people, will have to prepare a presentation that will take place through a lightning talk (Group "Lightning Oral") of a maximum of 7 minutes, with the mandatory participation of all members. The order of presentation of team members will be random, chosen by the lecturer during the exam.
The presentation will be supported by a PowerPoint presentation.
Lightning Talk Structure (max 7 slides) (oral)
• Slide 0: Title, authors, objectives.
• Slide 1-2: Theoretical background and economic problem.
• Slide 3: Literature review.
• Slide 4: 5W+1H.
• Slide 5-6: Empirical evidence and data.
• Slide 7: Conclusions, policy, and decision-making implications.
*The 5 W's rule includes: What – What, Who – Who, Where – Where, When – When, Why – Why.
The project aims to develop synthesis skills, clear exposition, and adherence to time limits.
The lightning talk and oral exams will be evaluated based on:
• Clarity of exposition and the contribution of each member.
• Synthesis skills and adherence to timing/structure.
• Technical rigor in the use of microeconomic concepts.
• Soundness of empirical evidence.
• Relevance of the link between theory and topic.
• Coherence and significance of conclusions and policy implications.
La metodologia didattica prevede lezioni frontali teoriche e pratiche, attività didattiche per affiancamento degli studenti nella preparazione dell’elaborato finale, e se previsto, “ l’orale creativo”
The teaching methodology includes theoretical and practical lectures, tutoring activities to support students in preparing their final paper, and, if planned, the "creative oral exam".
Attendance Rules
Attendance at lectures is optional, and the teaching materials (textbook and slides) are sufficient to prepare for the written exam.
However, participation is strongly recommended. The instructor's approach is based on innovative teaching methods that promote interaction, the development of interpersonal skills, and teamwork — all essential elements for entering the job market.
Actively participating in class will allow you to acquire not only theoretical knowledge but also practical skills that self-study alone cannot provide.
However, participation is strongly recommended. The instructor's approach is based on innovative teaching methods that promote interaction, the development of interpersonal skills, and teamwork — all essential elements for entering the job market.
Actively participating in class will allow you to acquire not only theoretical knowledge but also practical skills that self-study alone cannot provide.