Microeconomics and Policy Analysis I
Develop a comprehensive understanding of competitive markets and their governing theories, as well as analytical tools to apply this knowledge in practical settings.
Modules/Weeks
Weekly Effort
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Cost
Course Description
- Analyze buyer and seller behavior to understand market equilibrium, government regulations, and budgetary interventions.
- Explore consumer theory, including budget constraints, preferences, optimal choice, and welfare.
- Cover producer theory, emphasizing the firm's production process, cost minimization, and profit maximization.
- Apply analytical tools to solve a labor market case study and gain practical skills for real-world applications.
What You Will Learn
By the end of this course, learners will be able to:
Analyze buyer and seller behavior, comprehend market equilibrium, and evaluate the impact of government regulations and budgetary interventions.
Apply consumer theory, considering budget constraints, preferences, optimal choice, and welfare.
Utilize producer theory to examine a firm's production process, minimize costs, and maximize profits.
Solve labor market challenges using the acquired tools and knowledge, through the analysis of a real-world case study.
Course Outline
Module 1: Introduction to Competitive Markets
Module 2: Analysis of Competitive Markets
Module 3: Welfare Analysis of Competitive Markets and Non-budgetary Government Intervention
Module 4: Budgetary Government Intervention
Module 5: Commercial Policy: Trade liberalization
Module 6: Introduction to Consumer Theory
Module 7: Policy Analysis Using Consumer Theory
Module 8: The Labor Supply
Module 9: Introduction to Producer Theory
Module 10: Cost Functions
Module 11: Short-run and Long-run Profit Maximization
Module 12: Case Study
Instructors
Paola Valenti is an economist with expertise in development economics, applied econometrics, applied microeconomics, and economics of antitrust and intellectual property. She has expertise in industries such as pharmaceuticals, medical devices, industrial chemicals, consumer products, food, and computer hardware and software.
Before joining SIPA, Dr. Valenti previously served as a consultant at NERA Economic Consulting, developing economic research and quantitative analysis. She also worked as a consultant for the World Bank's Human Development Network and Social Protection Group, conducting research on poverty among the elderly. Valenti holds laurea and Dottorato di Recerca degrees in economics from the University of Rome "La Sapienza," an MSc from CORIPE Piemonte, and a PhD from Cornell University.
Andrea Bubula teaches the core course Economic Analysis for International Affairs. His expertise is in applied open-economy macroeconomics and finance. His research focuses on the choice of the exchange rate regime and nominal anchor across countries and over time. He has also examined the determinants of interest rate differentials in developing countries.
Dr. Bubula has worked at the World Bank, the International Monetary Fund and was a Fellow of International Affairs at Yale University. In 2008 he received the Columbia University Presidential Award for Outstanding Teaching. Dr. Bubula earned his Ph.D. in economics from Columbia University in 2004 and holds a 'Laurea' and 'Dottorato di Ricerca' from Universita' di Roma, La Sapienza.
Please note that there are no instructors or course assistants actively monitoring this course.