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General information |
Course unit name: Microeconomics
Course unit code: 364543
Academic year: 2025-2026
Coordinator: Olga Chiappinelli
Department: Department of Economics
Credits: 6
Single program: S
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Estimated learning time |
Total number of hours 150 |
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Face-to-face and/or online activities |
60 |
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- Lecture with practical component |
Face-to-face and online |
45 |
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- Problem-solving class |
Face-to-face and online |
15 |
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Supervised project |
40 |
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Independent learning |
50 |
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Competences / Learning outcomes to be gained during study |
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CB2 - Capacity to apply knowledge and understanding in a manner that indicates a professional approach to the work or vocation, and have competences typically demonstrated through devising and sustaining arguments and solving problems within the field of study. |
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CG8 - Capacity to communicate in English and/or other foreign languages orally and in writing, comprehension skills, and mastery of specialized language. |
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CB5 - Learning skills that are necessary to undertake further study with a high degree of autonomy. |
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CG3 - Capacity for learning and responsibility (capacity for analysis, synthesis, to adopt global perspectove and to apply knowledge in practice). |
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CG10 - Capacity to apply ICTs to professional activities. |
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CE3 - Understanding of the structure and operation of international markets, to detect the potential implications of increasing internationalization and the new global framework. |
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Learning objectives |
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Referring to knowledge — Understand the basic principles of economics.
Referring to abilities, skills — Be able to calculate different types of elasticity and understand their application to real situations.
Referring to attitudes, values and norms — Develop an analytical and critical intellectual approach to socioeconomic phenomena.
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Teaching blocks |
1. The consumer
1.1. The consumer
- Budgetary restrictions
- Consumer preferences: indifference curves
- Consumer equilibrium
- The price–consumption curve (PCC) and deduction of consumer demand
- The income–consumption curve (ICC) and Engel curves
- The substitution effect and income effect
2. Demand, supply and market equilibrium: extensions and applications
2.1. Demand and supply
— Competitive markets
— Demand curve
— Supply curve
— Market equilibrium
2.2. Welfare and efficiency
— Consumer surplus
— Producer surplus
— Market efficiency
— Efficiency and equity
2.3. Elasticities
— The price elasticity of demand
— Demand, price elasticity and revenue
— Other demand elasticities
— The price elasticity of supply
2.4. Government policies
— Controls on prices — Tariffs
— Taxes
— Subsidies
2.6. Market failures
— Externalities
— Public goods and common resources
— Asymmetric information
3. Theory of the firm and perfect competition
3.1. Theory of the firm: production and costs
— The production function
— Production and costs
— Types of costs
— Costs in the short and the long run
3.2. Perfect competition
— Profit maximisation
— Supply curve in a competitive market
— Short-run decisions and long-run decisions
— Long-run equilibrium
4. Imperfect competition
4.1. Monopoly
— Price discrimination
— Multi-plant monopoly
— Regulation of monopoly
4.2. Oligopoly
4.3. Monopolistic competition
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Teaching methods and general organization |
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The methodology is based on two main types of activity: lectures and directed learning activities.
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Official assessment of learning outcomes |
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Continuous assessment
Examination-based assessment All students are entitled to single assessment, which consists of a final examination covering the whole syllabus.
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Reading and study resources |
Check availability in Cercabib
Book
Nechyba, Thomas J. Intermediate Microeconomics. An intuitive approach with calculus. Cengage. EMEA Edition. 2018
KRUGMAN, Paul R. and Robin WELLS. Microeconomics. 4th edition. New York: Worth Publishers, 2015
MANKIW, N. Gregory. Principles of Microeconomics. 8th edition. London: Cengage Learning, 2016
VARIAN, Hal R. Intermediate microeconomics : a modern approach. 9th ed. New York: W. W. Norton & Co., 2014