a.a. 2013-2014 cod.

30065 MICROECONOMICS Group BIEMF 17

Lecturer: Monica Bonacina Teaching Assistant: TBD Tutor: Mark Iarovyi News The following provides information regarding the organization of the Economics - Part I (Microeconomics) course cod. 30065, Group BIEMF 17. The course is organized in lectures and problem sessions (classes). The form of the exam is exclusively written. However course performance could be evaluated in two different ways:

a) a midterm exam followed by a final exam of 1 hour duration covering the second part of the

course. The course is passed in case the grade in both midterm exams is higher than or equal to 18. In case the course is passed the final grade is computed taking the mean of the grades in both midterm exams, rounded upwards.

b) a general exam of 2 hours duration covering the whole course.

For students who fail the exam there exists the possibility to retake it, in the general exam format. The official dates of the exams will be published on Bocconi website within the end of September. Results of the exams will be sent by SMS and published on your yoU@B. The exams solutions will be published on learning space. For each exam it is mandatory the registration at Punto Blu. Attention: when handing in the exam, students are required to sign a declaration through which they accept the grade in case they pass the exam. The repeating students of the cod. 30065, 6233, 6006, 5013, 4007, 633 and 137 are allowed to take the midterm exam. Further information can be obtained at http://elearning.unibocconi.it. In the following, information is provided regarding: 1. Textbook 2. Timetable of lectures and Syllabus

Textbook The textbooks used in the course are:

B.Douglas Bernheim, Michael D. Whinston, Microeconomics, MacGraw-Hill, 2012 Microeconomics - Exercices, Egea, 2013

Timetable and Syllabus

Topic References Room

L1 L2 L3 L4 L5 L6 L7 L8 E1 L9

Fri. 6.09 Introduction - Basic concepts. Demand and 8.45-10.15 supply Mon. 9.09 Follows: Demand and supply. Elasticity 14.30-16.00 Wed. 11.09 Preferences and utility 12.30-14.00 Fri. 13.09 Follows: Preferences and utility 8.45-10.15 Mon. 16.09 Budget constraint, consumer choice and 14.30-16.00 demand curve Wed. 18.09 Follows: Budget constraint, consumer choice 12.30-14.00 and demand curve Fri. 20.09 From Demand to Welfare 8.45-10.15 Mon. 23.09 Labour supply 14.30-16.00 Mon. 23.09 Class 1: Consumer theory 16.15-17.45 Wed. 25.09 Saving supply 12.30-14.00

B&W: Chapter 1, Chapter 2 B&W: Chapter 2 B&W: Chapter 4

Notari N23 N23 Notari

B&W: Chapter 5

N23 N23

B&W: Chapter 6 par. 1, 2 B&W: Chapter 6, par. 3

N23 N23 N23

B&W: Chapter 10, par. 10.1 only sections on "interest rates and compound interest rates" and "present value and the price of a future dollar", par.10.2 B&W: Chapter 7 excluding par. 7.5

N23

L10

Fri. 27.09 Technology and production 8.45-10.15

Notari N23 N23

L11 Mon. 30.09 Follows: Technology and production 14.30-16.00 E2 L12 L13 L14 E3 Mon. 30.09 Class 2: Labour and saving supply 16.15-17.45 Wed. 2.10 Costs 12.30-14.00 Fri. 4.10 Follows: Costs 8.45-10.15 Mon. 7.10 Profit maximization by price taking firms 14.30-16.00 Mon. 7.10 Class 3: Technology and production 16.15-17.45 B&W: Chapter 9 excluding par. 9.4 B&W: Chapter 8

N23 Notari N23 N23

Topic LI1 L15 Wed. 9.10 Experimental economics 12.30-14.00 Fri. 11.10 Equilibrium in competitive markets 8.45-10.15

References Lecture notes B&W: Chapter 14, excluding the Appendix

Room INFON05 Notari N23

L16 Mon. 14.10 Follows: Equilibrium in competitive markets 14.30-16.00 LI2 E4 Tues. 15.10 Market interventions 14.30-16.00 Wed. 16.10 Class 4: Equilibrium in competitive markets 12.30-14.00 Mon. 4.11 14.30-16.00 MIDTERM EXAM General equilibrium B&W: Chapter 16, excluding par.16.5 B&W: Chapter 15, par. 15.1

N20 N23

L17 L18 L19

N23 N23

Wed. 6.11 Follows: General equilibrium 12.30-14.00 Fri. 8.11 Monopoly 8.45-10.15 B&W: Cap. 17 ecxluding par. 17.4, 17.5 and 17.6 B&W: Chapter 18, par. 18.1, 18.2, 18.3 exlcuding sections on "welfare effects of imperfect price discrimination" and "price discrimination and market power"

Notari N23

L20 Mon. 11.11 Pricing policies 14.30-16.00

E5

Mon. 11.11 Class 5: General equilibrium; Monopoly 16.15-17.45 B&W: Chapter 12, excluding sections on "Mixed strategies" and "Cooperation in repeated games" Microeconomics - Exercises: Chapter I.4

N23 N23

L21 Wed. 13.11 Game theory 12.30-14.00

L22

Fri. 15.11 Follows: Game theory 8.45-10.15 B&W: Chapter 19, par. 19.1,19.2, 19.3, 19.7

Notari N23 N23 Microeconomics - Exercises Chapter I.2 N23 N23 N23

L23 Mon. 18.11 Oligopoly 14.30-16.00 L24 Wed. 20.11 Follows: Oligopoly 12.30-14.00 L25 Mon. 25.11 Choices under uncertainty 14.30-16.00 E6 Mon. 25.11 Class 6: Game theory; Oligopoly 16.15-17.45

L26 Wed. 27.11 Follows: Choices under uncertainty 12.30-14.00

Topic LI3 L27 L28 Fri. 29.11 Moral Hazard 8.45-10.15 Mon. 2.12 Asymmetric information 14.30-16.00 Wed. 4.12 Follows: Asymmetric information 12.30-14.00

References Microeconomics - Exercises Chapter I.6 Microeconomics - Exercises Chapter I.5 B&W: Chapter 21 par. 2 excluding sections on "Equilibrium with pooling", "Comparing separating equilibria and pooling equilibria", "Which equilibrium will prevail?" and "A possible role for the government") B&W: Chapter 20, par. 20.120.3 (excluding sections on "Controlling qualities versus correcting incentives", "Hybrid market approaches") Lecture notes

Room Notari N23 N23

L29

Fri. 6.12 Externalities 8.45-10.15

Notari

LI4 E7

Mon. 9.12 Asymmetric information in the credit market 14.30-16.00 Mon. 9.12 Class 7: Choices under uncertainty, 16.15-17.45 asymmetric information and externalities FINAL EXAM

N23 N23

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