Students are expected to acquire - the tools and concepts to understand and represent individual behaviour both as consumption units, investors and firms, in certain, uncertain and strategic environments - the tools and concepts to understand and represent the working of single markets, in conditions of perfect and imperfect competition and the basic tools for intervention and regulation - the tools and concepts to understand and interpret the working of the whole economy, its properties and limitations - ability to solve problems conceerning individual and market behaviour - critical and selective capacity to apply the above tools to analyze, interpret and represent real phenomena from the microeconomic point of view - ability to autonomously read and understand advanced textbooks and academic articles at the frontier of economic literature in the field of microeconomics.
The student will be assessed on - his/her demonstrated ability to discuss the main course contents using appropriate terminology, proper concepts and rigorous thinking. - his/her demonstrated ability to solve simple problems concerning the main contents of the course, applying the appropriate tools.
Delivery: face to face
Neoclassical consumer theory - Duality - Revealed preferences Aggregation theory Choices under uncertainty Production theory - short and long run Strategic decisions and game theory Imperfectly competitive markets Perfectly competitive markets - short and lung run General equilibrium theory
Mas-Colell, Whinston, and Green (1995), Microeconomic Theory, OUP.
Optional reading includes the following texts:
- Jehle and Reny (2011), Advanced Microeconomic Theory. 3rd Ed. Prentice Hall.
- Varian (1992), Microeconomic Analysis 3rd ed., Norton Further bibliography will be indicated.