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as of 7/2/2022

Country - Partner Institution - Programs: Italy - University of Bologna - 'Univ. of Bologna'
UC Course SubjectEconomics
Number & Suffix: 175
Transcript Title: MICROECONOMICS 2 
UC QTR Units - Division: 6.0 - Upper Division 
Course Description: This is a graduate level course that is part of the Laurea Magistrale program. The course is intended for advanced level students only. Enrollment is by consent of the instructor. Students who complete a special project on a pre-approved topic are awarded 1 extra unit. Maximum units for this course are 6. At the end of the course, the student has a working knowledge of the basic tools and results of the classical microeconomic theory for perfectly competitive environments. In particular, the class focuses on: classical consumer theory: utility maximization and expenditure minimization; choice under uncertainty and insurance decisions; production theory, profit maximization, and cost functions; welfare analysis of perfectly competitive markets. Specific Topics covered: consumer behavior, consumer choice and demand; preference relations, rationality, and utility functions; the budget set; demand functions; indirect utility; utility maximization, expenditure minimization, and duality; individual and aggregated demand functions; welfare evaluation of economic changes; choice under uncertainty; expected utility theory; risk aversion and risk premium; the insurance decision; risk spreading, risk pooling, and diversification; production sets; profit maximization, cost minimization, and duality; aggregation; efficient production; partial equilibrium analysis; Pareto optimality and competitive equilibria; the fundamental welfare theorems in partial equilibrium; welfare analysis in partial equilibrium; pure exchange; Pareto optimality in general equilibrium; general economic equilibrium with production; the fundamental welfare theorems in general equilibrium. 
Language of Instruction: English
Partner Title: MICROECONOMICS 2 (LM) 
Partner University Department: Economics 
Partner University Course Number: 28874