POLITICAL ECONOMYModule ELEMENTS OF MICROECONOMICS
Academic Year 2023/2024 - Teacher: Antonio D'AGATAExpected Learning Outcomes
The module "Elementi di Microeconomia" concerns individual consumption and production decisions, the working of markets, and the associated gains actors enjoy in being involved in market transactions. The student will have an understanding of the workings of competitive as well as noncompetitive markets and other sources of market failure. This knowledge will be useful to study the second part of the course "Elementi di Macroeconomia"
Course Structure
Required Prerequisites
Attendance of Lessons
Detailed Course Content
2) How Markets Work: The Market Forces of Supply and Demand; Supply, Demand, and Government Policies; Consumers, Producers, and the Efficiency of Markets; Application: International Trade.
3) The Economics of the Public Sector: Externalities, Public Goods and Common Resources.
4) Firm Behavior and the Organization of Industry: The Costs of Production, Firms in Competitive Markets, Monopoly, Monopolistic Competition, Oligopoly.
Textbook Information
Course Planning
| Subjects | Text References | |
|---|---|---|
| 1 | Ten principles of Economics | Mankiw- Ch. 1 |
| 2 | Thinking Like and Economist | Mankiw- Ch. 2 |
| 3 | Interdependence and the Gains from Trade | Mankiw- Ch. 3 |
| 4 | The Market Forces of Demand and Supply | Mankiw- Ch. 4 |
| 5 | Demand, Supply, and Government Policies | Mankiw- Ch. 6 |
| 6 | Consumers, Producers, and the Efficiency of Markets | Mankiw- Ch. 7 |
| 7 | Application: International Trade | Mankiw- Ch. 9 |
| 8 | Externalities | Mankiw- Ch. 10 |
| 9 | Public Goods and Common Resources | Mankiw- Ch. 11 |
| 10 | The Costs of Production | Mankiw- Ch. 12 |
| 11 | Firms in Competitive Markets | Mankiw- Ch. 13 |
| 12 | Monopoly | Mankiw- Ch. 14 |
| 13 | Monopolistic Competition | Mankiw- Ch. 15 |
| 14 | Oligopoly | Mankiw- Ch. 16 |