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Master of Science in Economics and Development

Microeconomics 1

CFU: 9

Year: I

Instructor: Domenico Menicucci

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.

Mas-Colell, A., Whinston, M.D., Green, J.R., 1995. Microeconomic Theory, Oxford University

Press.

Lecture notes provided by the instructors.

 
last update: 04-Apr-2017
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