00256 - Political Economics

Learning outcomes

The student achieves knowledge about the economics as a science (principles and methodologies) evolving over time in parallel with the transformation of the economic systems,  the basic elements of microeconomics and macroeconomics, and the ability to access national and international statistical sources and data.

Course contents

The course addresses the political economy in a historical perspective,  looking in parallel at the evolution over time  of the economic thought (economics) and at the transformation of the economic systems (economy). The essential micro and macro-economic topics are covered, as they are handled by the mainstream economics. The perfect competition model and its assumptions, the Pareto notion of equilibrium are at focus, and the market failures cases as well. The section about the macroeconomics deals with the basics of the theoretical background to the national accounting systems and to the equilibrium of real GDP; in particular the focus is on  the circular flow of income and expenditures model, the aggregate demand, the Keynesian multiplier,  the relationship between (private, public, foreign) savings and investment, and the money market. Elements are provided about the notions of public deficit and public debt and about the structure of the balance of payment. The students are trained to familiarize with the national statistics  (ISTAT, Banca d'Italia)  concerning the major national accounts, and with the main international statistics sources (Eurostat, OECD, UN system).

The programme corresponding to 9 credits include the following topics: 

Subject, method, models and tools of the political economy; (microeconomics): consumer behavior and market demand; firm and production; the market of goods in perfect competition; demand and supply in perfect competition; markets of the production inputs; non-perfectly competitive markets; externalities, public goods; (macroeconomics): national accounts and macroeconomic variables; determinants of GDP equilibrium; financial markets – IS-LM model; open economy: balance of payments, foreign trade.

 

Readings/Bibliography

Antonelli G., Cainelli G., De Liso N., Leoncini R., Montresor S., 2009, Economia, Giappichelli Editore, Torino, III edizione

The corresponding chapters of the textbook (Antonelli et al., 2009) to 9 credits are the following:

1-2-3-4-6-7-8-9-10-11-12-13-15

Those students having in their curriculum the course of Economics associated with a number of credits inferior to 9 must contact via email the teacher in order to get the programme corresponding to the  different modules (3-4-6 credits).

Teaching methods

The teaching is based on frontal lectures. However, the attending students are stimulated to actively participate, either for giving feedback on their learning, and for bridging the theory to the real economy facts and phenomena.

Assessment methods

The exams consist of a written test and of an oral examination. To pass the test with 18/30 is required for being admitted to the oral exam and to get the final mark (on a 30 basis).

The students attending the classes are charged with a reduced programme  compared to the standard one.  They will carry out an intermediate written test during the course, for being admitted to the oral examination on the residual programme in the session of exams that immediately follows the end of the course. 

The intermediate test is on the programme already carried out, and consists of  multiple choice questions, and of some open questions requiring the precise definition and the graphical representation of the content, and may include an exercise to apply the theory.

In the subsequent sessions the written and the oral exams will be both based on the whole programme as it is published in this Web Guide, and will take place in the same session. In the oral examination the students are re-assessed on the questions they have failed in the written test, and on other topics of the entire programme.

To attend the classes and to study along the lectures is the best strategy for succeeding the exam. The evaluation of both the written and oral tests is based on the following criteria:

-          full-scale and accurate preparation on the textbook and the lectures' materials

-          synthetic (text – graphic – oral)  answers

-          accurate analytic and formal data processing

-          systematic vision of content within and across the programme's topics

-          correct  and appropriate language (written and oral)

Teaching tools

In addition to the textbook, also the materials presented in the lectures (slides, notes, statistical documentation) are included in the programme. These materials are distributed online by the teacher to a dedicated list created on https//campus.cib.unibo. The attending students must register with the list at the beginning of the course.

Office hours

See the website of Patrizia Fariselli