Mas-Colell, A., Whinston, M.D., Green, J.R., 1995. Microeconomic Theory, Oxford University Press, New York.
Learning Objectives
The goal of this course is to present the basic ideas of Microeconomic Theory.
Prerequisites
Basic Linear Algebra, Probability Theory, and Calculus for functions of one or several variables.
Teaching Methods
Classroom lectures
Further information
The lectures will be given by two instructors: Annalisa Luporini and Domenico Menicucci.
Type of Assessment
Written and oral exam.
Course program
Consumer Theory: preference relations, utility functions, representation of preferences via utility functions, budget set and consumer problem, demand functions.
Production Theory: production sets, profit maximization and cost minimization.
Choice under Uncertainty: expected utility theory, money lotteries and risk aversion, first order stochastic dominance between payoff distributions.
General Equilibrium Theory: competitive equilibrium in pure exchange economies, existence of equilibria, Pareto optimality and welfare theorems.
Game Theory: basic elements of non-cooperative games, simultaneous-move games, dominant and dominated strategies, Nash equilibrium in pure and mixed strategies.
Market Power: monopoly pricing and price discrimination, oligopoly models.