78719 - Economics I

Learning outcomes

The successful student should know the basics of microeconomic and macroeconomic analysis. S/he will be able to understand how markets work, to identify relevant market models, and to apply microeconomic principles in looking at the real world; and s/he will be able to understand the basic principles of macroeconomics, and to connect them to the current problems of the macroeconomy, like unemployment, inflation and public debt.

Course contents

Part I: Introduction

1. General introduction to economics
2. Demand, supply and the working of markets
3. Different views about the economy

Part II: Microeconomics

1. Demand and supply once again
2. Consumer choices
3. Firms in competitive markets
4. Market efficiency and government policies
5. Firm behaviour and market structure: imperfect competition
6. Public goods and externalities
7. Information and the markets

Part III: Macroeconomics

1. The data of the macroeconomy
2. The real economy in the long run
3. Interest rates, money and prices in the long run
4. Short run economic fluctuations
5. Open-economy macroeconomics: basic principles
6. The European monetary union

Part IV: Further topics

1. The economics of factor markets
2. International trade
3. Income redistribution and political philosophy

Readings/Bibliography

N. Gregory Mankiw and Mark P. Taylor, Economics (last edition), Cengage Learning, Andover, UK.

Teaching methods

This is a taught course with lectures. Specific classes for exercises and discussion will also be held.

Assessment methods

The exam consists of an oral discussion of the material covered in class; it will possibly held online, depending on the overall health situation. During the lecture period, the possibility of partial assessment will be offered. Students are required to register in advance for the exam through AlmaEsami according to the general rules of the School of Economics and Management. Grading is on a 30 point basis, with minimum pass grade 18/30 (18-23: sufficient; 24-27: good; 28-30: very good; 30 plus distinction: excellent).

Teaching tools

Traditional lectures will be coupled with active students' participation. Handouts will be available for students.
The course is provided with e-learning support.

Office hours

See the website of Corrado Benassi

See the website of Piero Pasotti