This course explores horizontal differentiation through localization models (Hotelling’s linear and Salop’s circular models) and monopolistic competition (Dixit-Stiglitz). It also addresses vertical product differentiation, including pure vertical differentiation and quality investment competition. Additionally, the course examines price discrimination strategies, including unique forms of price discrimination, pricing policies, and the discriminatory role of sales, alongside an analysis of the Coase conjecture.
This course explores key aspects of capitalist economic systems and their impacts. It begins with the capitalist revolution, examining GDP growth, income inequality, and redistributive systems. It then explores technological progress, population dynamics, and their influence on economic growth. The structure of firms is analyzed, focusing on ownership, management, labor relations, and the challenges of incomplete contracts. The course also covers fundamental economic concepts such as scarcity, opportunity cost, production functions, and consumer behavior, including demand, substitution, and income effects. The final section addresses firm-customer relationships and market changes.
This course explores key concepts in microeconomics and macroeconomics. The course is divided into two parts: Firm decisions and market equilibrium and Macroeconomic equilibrium. The first part examines how price-taking firms make decisions and analyzes market equilibrium and welfare. The second part introduces basic macroeconomic models, including the full-employment classical model and the short-term income-expenditure model.
The first part of the course presents a simple dynamic model with a Phillips curve augmented by inflation expectations. It allows to study the effects of different types of economic policy on unemployment and inflation, depending on the time horizon and the way expectations are formed. The second part develops a "Barro-Gordon" model to introduce the problem of monetary policy credibility. The final part of the course focuses on the financing of fiscal policy and the dynamics of public debt.
This course covers consumer theory (Semester 1) and the theory of the firm (Semester 2).
This course provides an introduction to economics and targets industrial management engineers (students).