MICROECONOMICS - 1

Academic year
2025/2026 Syllabus of previous years
Official course title
MICROECONOMICS - 1
Course code
ET2020 (AF:562794 AR:317173)
Teaching language
English
Modality
On campus classes
ECTS credits
6 out of 12 of MICROECONOMICS
Subdivision
Surnames A-K
Degree level
Bachelor's Degree Programme
Academic Discipline
SECS-P/01
Period
3rd Term
Course year
1
Where
VENEZIA
Microeconomics studies how individuals, firms, the government, and other organizations make choices given the options available to them and how their decisions determine market prices and the allocation of society’s resources. The main objective of the course is to make students familiar with the economical way of thinking. We will cover the basic concepts and analytical tools of microeconomics and show how they can be used to understand a broad range of real-world problems. We will analyze both firms’ and consumers’ behavior and market equilibria.
1. Knowledge and understanding: 1.1. understand the decision process of individuals and business firms, and their interactions in various market structures; 2. Ability to apply knowledge and understanding: 2.1. use the supply and demand model to determine changes in market equilibrium; 2.2. analyse the choices of individuals (as consumers and as workers) and firms using marginal analysis and the notion of opportunity cost; 3. Ability to make judgments: 3.1. interpret market outcome and prices; 3.2. understand the scope, merits and limitations of economic models; 3.3. prepare students for independent economic thinking about economic and policy issues on the basis of an analytical method.
You are expected to be comfortable with the material covered in the Mathematics Prerequisite course.
The topics covered in Microeconomics-1 include: Introduction to Microeconomics 1. Analyzing Economic Problems 2. Demand and Supply Analysis Consumer Theory 3. Consumer Preferences and Utility Functions 4. Consumer Choice 5. The Theory of Demand 6. Applications of Consumer Theory Theory of the Firm 7. Inputs and Production Functions 8. Costs and Cost Minimization 9. Profit Maximization
Bernheim, B. D., and Whinston, M. D., 2018, Microeconomics McGraw-Hill/Irwin, Inc. New York, NY.
A single final grade is assigned for the entire 12-credit course. Assessment is carried out through a written exam. This exam requires both indicating whether certain given statements are true or false—clearly explaining the reasoning—and solving a number of exercises. The true/false statements are aimed at assessing theoretical knowledge, while the exercises test the ability to apply that knowledge to problem-solving. The total duration of the exam is 100 minutes. The final grade also take into account the weekly exercises assigned by the instructor.
written
A. Grades within 18 and 22 will be assigned in case of: - sufficient knowledge of the main content of the program; - limited ability to solve exercises; B. Grades within 23 and 26 will be assigned in case of: - discrete knowledge of the main content of the program; - discrete ability to solve exercises; C. Grades within 27 and 30 will be assigned in case of: - good or optimal knowledge of the main content of the program; - good or optimal ability to solve exercises, elaborate and interpret its results, also providing a critical view on them D. 30 cum laude is assigned when the student shows excellent abilities to handle the content of the program of the course, ability to solve exercise and proof of excellent critical thinking.
Lectures and practice sessions. For any course-related information, students can follow Moodle. The slides of the lectures and the problem sets will be uploaded on Moodle on a regular basis. Students are strongly encouraged to actively participate in class meetings and regularly work through the problem sets.
Definitive programme.