This course introduces the students to the basic principles of microeconomics and the study of the behavior of individual agents, such as consumers and producers. The course will focus on price and quantity determination in the marketplace. We will examine how customers and producers with opposite interests jointly contribute to the definition of the equilibrium, and we will provide some valuations on the efficiency of the allocation among people. Moreover, we will discuss about market failures and the possibility of government interventions. Finally, we will study firms’ behavior by analyzing their cost structure and production technology, and by comparing different market structures (perfect competition, monopoly, and oligopoly).

Note: Be advised that the approach to the subject matter is basic yet theoretical and abstract. Hence, you may struggle if you do not feel comfortable with abstract reasoning, elementary algebra, geometric analysis and abstract models.