Public economics (ECON756_ESBC )
Présentation
This course examines the behavior of firms under various market structures and explores the implications for efficiency, welfare, and public policy. It links the theory of the firm with key topics in public economics such as market failures, regulation, and welfare analysis.
Major Intended Learning Outcomes
· Understand the Role of Firms in the Economy
· Analyze Firm Behavior under Different Market Structures
· Apply Firm Theory to Public Economics
· Master Production and Cost Concepts
· Solve Optimization Problems in Firm Decision-Making
· Evaluate Welfare and Efficiency
· Interpret the Impact of Policy and Regulation
· Understand Modern Extensions
· Apply Comparative Statics and Policy Analysis
Critically Reflect on the Relationship between Firms and Social Welfare
Objectifs
The main learning outcomes of the Public Economic Course are assessed through written exams and graded exercises. Students are expected to understand the role of firms in the economy, analyse their behaviour in different market structures, and master concepts related to production and costs. The assessments also test their ability to apply mathematical tools for optimization and to evaluate the impact of public policies on firms and society. In this way, each skill developed during the course is directly checked through theoretical questions, case studies, and practical exercises.
Heures d'enseignement
| Cours Magistral | 9h | |
| Travaux Dirigés | 9h |
Pré-requis obligatoires
Principles of economics
Plan du cours
1. Firm Theory
· Explains why firms exist, their objectives, and how they make decisions.
· Introduces production technology, cost minimization, and profit maximization.
2. Perfect Competition
· Analyzes how markets reach equilibrium under perfect competition.
· Covers efficiency, welfare analysis, and the role of policy in competitive markets.
3. Imperfect Competition
· Examines monopoly, oligopoly (Cournot and Bertrand), and cartels.
· Discusses market power, strategic interaction, and welfare implications.
4. Further Questions and Applications
· Explores topics like externalities, public goods, and policy tools.
· Includes exercises and reflective questions to deepen understanding.
Bibliographie
· Varian, H. R. (2016). Intermediate Microeconomics with Calculus: A Modern Approach: Ninth International Student Edition. WW Norton & Company.
· Varian, H. R. (1992). Microeconomic analysis (Vol. 3). New York: Norton.
· Mas-Colell, A., Whinston, M. D., & Green, J. R. (1995). Microeconomic theory (Vol. 1). New York: Oxford university press.
· Tirole, J. (1988). The theory of industrial organization. MIT press.
· Jehle, G. A., & Reny P.J. (2011). Advanced microeconomic theory. Pearson Education. (Chapters 3 and 4).
· Simon, C. P., & Blume, L. (1994). Mathematics for economists (Vol. 7). New York: Norton.
Contacts
