65872 - Principles of Economics

Course Unit Page


This teaching activity contributes to the achievement of the Sustainable Development Goals of the UN 2030 Agenda.

Quality education Decent work and economic growth Responsible consumption and production

Academic Year 2019/2020

Learning outcomes

At the end of the course, students will know the basic theoretical instruments necessary to analyse the main economic phenomena both aat the microeconomic and macroeconomic level. Students will be able to understand and analyse consumer behaviour and firm behaviour, market mechanisms and the main issues related to the use of natural resources and environment.

Course contents

Unit 1 (2 hours) Introduction: the economic science, microeconomics and macroeconomics. Tools of economic analysis.

Unit 2 (10 hours) Microeconomics: Demand theory

2.1 Demand, supply and the market

2.2 Elasticities of demand and supply

2.3 Consumer choice analysis and demand decision

Unit 3 (10 hours) Microeconomics: Supply decision

3.1 introduction to supply costs

3.2 Market structure: perfect competition, perfect monopoly and market structure and imperfect competition.

Unit 4 (6 hours) Welfare economics (basic elements); government spending and revenue.

Unit 5 (8 hours) Macroeconomics

5.1 Principles and tools. GDP; macroeconomic circular flow; national accounting.

5.2 Inflation; unemployment rate.

Unit 6 (24 hours): exercises and seminars.


Main Book:

• Begg D., Vernasca G., Fischer S., Dornbusch R. Economics. McGraw-Hill (available at the Faculty Library)

Lectures notes and materials recommended by the teacher.

Teaching methods

Lectures and case studies.

The course includes six teaching units: introduction in the first and the last unit is dedicated to seminars and exercises in classroom.

The units 2 and 3 are focused on the microeconomics, the unit 4 on the basis of the welfare economics and the unit 5 deals with macroeconomics (short information).

Assessment methods

The official examination will be oral and it will go on around 20-30 minutes. The oral examination deals with the entire programme of the course (microeconomics and macroeconomics) and could include also exercises and graphic development of issues (as explained during the lectures).

Teacher could decide to propose a written test about all the issues of the course at the end of the lessons. This test is optional for students and in any case it takes place once a year. If someone passed this written test, he could decide to accept or to refuse the reached score.

Students can take the final examination in English.

Foreign studens only can decide if they prefer to take oral or written examination.

Teaching tools

whiteboard, projector, pc.

Office hours

See the website of Alessandra Castellini