00256 - Economics

Learning outcomes

At the end of the teaching activities, students will have learned the major micro-and macro-economic models and national accounting, acquired knowledge to interpret the debate on the functioning of the Italian and European economic systems and the main economic policy proposals. In addition, they will have acquired the ability to understand the main problems of economic development, those arising in the less developed regions of economically advanced and developing countries, as well as the principles of comparison needed to evaluate the measures of international cooperation. They will learn how to orient themselves in the use of basic bibliographical tools, knowing terminology and methods used in the economic analysis and how to adress the key issues and critically approach the texts.

Course contents

Those students who are required to take the exam of Economics are asked to follow the program of the current year even if enrolled in previous years.  During the relevant term, integrative classes could be held to deepen and/or refresch topics that will be communicated in class and must be considered an integral part of the course program.
The course addresses the following contents.
Introduction
Objects and methods of economic policy 
Models and analytical tools
Consumer and market demand
Firm and production theory
Markets for goods under perfect competition
Interaction between supply and demand
Markets for factors of production
Non-competitive markets
Externalities, public goods, public policy 
National accounts and macroeconomic variables
GDP determination  
Financial markets and IS-LM model
Aggregate supply and price adjustment
Open economy: balance of payments, foreign trade and exchange rates

Very likely a new edition of the manual will be issued. Additions or modifications of the program will be suggeted during the lectures.

Readings/Bibliography

(1) G. ANTONELLI, N. DE LISO, G. GUIDETTI, R. LEONCINI, G. VITTUCCI MARZETTI, L. ZAMPARINI, Economia, Turin, Giappichelli, 4th edition, 2018.

(2) S. D'ADDONA, N. GRASSANO, S. MONTRESOR, Economia. Quesiti, Giappichelli, Turin, 3rd edition, 2013.

Teaching methods

Learning economics requires the use of minimal analytical instruments, like the capacity to read graphics and to understand simple functions and equations. However, it is important to understand that the course does not require preliminary notions of mathematics. All the notions relevant for understanding the formal concepts (functions, graphics, etc.) are provided in the initial lectures. 

Experience suggests that it is highly relevant for success in the exam to regularly attend the lectures and to take the exam soon after the end of the lectures. Therefore, studenta are strongly advised not to postpone the exam in their curriculum.

Assessment methods

The exam is intended to verify the achievement of the following learning objectives:
• knowledge of the main micro-and macro-economic models and the main topics of national accounts presented during the lectures
• ability to use these tools in order to interpret the debate on the functioning of the Italian and European economic systems and the main economic policy proposals
• understanding of the main problems of economic development, in the less developed regions of economically advanced and developing countries, and of the principles of comparison needed to evaluate the measures of international cooperation
• ability to orient in the use of basic bibliographic tools, knowing the terminology and methods used in the economic analysis, the methods of argumentation and critical approach to the texts.
The examination consists of two parts (a written test and an oral examination) that are to be completed within the same  exam session and provides an assessment of the students on a 30 marks basis. In order to take the oral exam, and achieve the final grade, students must pass the written test with a minimum score of 18/30.

In the written test students must answer three types of questions: multiple choice questions; questions true or false, open-ended questions with a limited number of words.
In the oral examination students will answer questions about their mistakes in the written test, about the final parts of the program and about those parts of the program that the students will have to prepare depending on the number of CFU and depending on whether they are attending or not attending the lectures (see below).

The written and the oral examinations are usually held in via Oberdan, 1. The exams are strictly individual and to this end all incidents of misconduct will be severely punished.
The information on the dates and venues of the exams are available in advance. However, they can be changed at the last minute for reasons of force majeure. Therefore, it is necessary for students to be alert. The offices of the School of Law are the custodians of this information, and the lecturers themselves may be unaware of last minute changes. It is best, therefore, always refer to these offices.

The examination program for students attending the course is different from that for non-attending students. Are considered as attending those students who:
(a) will be enrolled in the relevant mailing lists;
(b) will take the written test reserved for them and will pass it;
(c) will be able to answer questions relating to specific issues/topics addressed during the course;
(d) will take the oral test in the session immediately after the end of the lessons.
Only those students who will take this written test and will attend the remaining part of the course will benefit from reductions in the examination provided for students attending.
Not attending classes is therefore counterproductive, while a frequency and careful study "time-to-time" are the best strategy to deal with the examination papers.

Students not attending the course who have taken and not passed at least four written tests, on an exceptional basis and with the approval of the lecturer, could access the oral test. However, written tests are not considered if open-ended questions are not answered. The possibility to take advantage of this opportunity is closely linked to the proper execution of the following procedures. After accumulating at least 4 written insufficient written tests: (1) the student must contact the lecturer via e-mail, indicating the exact dates (day / month / year) of the last 4 exam session in which he advocated the written test without success, and making a request to access to the oral test if the written one proves again insufficient; the lecturers, after having considered the responses to the questions in the tests reported, may authorize the student to take the oral exam, (2) the student is still required to register and regularly take the written test, (3) the admission to the oral test does not involve any form of "discount" on the program.

Integration of credits. Students transferred from other universities or students who need to integrate credits for the course in Economics are required to observe the following rules. The general rule is that students must be prepared on the parts not included in the programs of the exams already taken elsewhere. Before the exam, the student is required to report his case via e-mail or in person. Unless stated otherwise, the integration are related to the following rules:
i) 1-2 credits:
Exam: only oral test;
Mark: pass;
Chapters to be studied: if the syllabus of the previous exam is intensive of macroeconomics, Chapter 8; if the syllabus of the previous exam is intensive of microeconomics, Chapter 14
ii) 3 credits:
Exam: written and oral test
Mark: out of 30
Chapters to be studied: Chapter 8, Chapter 14
iii) 4 credits or more:
Exam: written and oral test
Mark: out of 30
Chapters to be studied: Chapter 8, Chapter 14, plus other integrations to be agreed with the lecturer upon presentation of the content of the examination already taken.

No pre-entry courses are required.

Office hours

See the website of Riccardo Leoncini