28557 - Economics

Learning outcomes

At the end of the course unit, students: - know the principles underpinning microeconomics and macroeconomics; - having studied the fundamental theoretical models and their application for the assessment of current economic performances, are capable to understand how development factors are to be figured out and considered in developed and developing areas, also with a view to designing cooperation models at the international level.

Course contents

The course programme deals with topics of both micro and macroeconomics.

1. Introduction to the principles of economics
2. Demand and supply of goods and services
3. The elasticity
4. The microeconomics of taxation
5. The behaviour of the rational consumer
6. Introduction to the firm’s theory
7. The microeconomic analysis of production and coasts.
8. The market of perfect competition
9. Monopoly
10. Oligopoly
11. Monopolistic competition
12. Public goods and externalities

Readings/Bibliography

Sloman J., Garratt D., Guest J., Economics, Pearson, Eleventh Edition

Chapters: 1, 2, 3, 4, 5, 6, 7, 8, 10, 12, 13

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.

Assessment methods

Exam procedure

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. The oral exam is compulsory.

In the written test students must answer three types of questions: multiple choice questions; questions true or false and open-ended questions with a limited number of words.

For the students attending the classes the written exam is split into three short "surprise tests" to be taken during the course. At the end of the course these students will be able to take the oral exam. The oral exam is compulsory.

For the students who do not attend the classes the written exam consists in one single exam paper on the whole programme of the course.The students who pass the exam will be able to take the oral exam, which is compulsory.

The exam

The exam is aimed at verifying the achievement of the following learning objectives:

• knowledge of the main micro-and macro-economic models and the main topics of national accounts discussed 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 oral exam

The oral exam is compulsory.

Assessment of the oral exam

1 limited knowledge of most of the topics discussed in the lectures. Correct use of specialistic language. 18-20

2 Sufficient knowledge of most of the topics analysed in the lectures. Sufficient ability to connect between the various topics. Correct use of specialistic language. 21-24

3 Good knowledge of the topics and good capability to discuss autonomously complex connections. 25-29

4 Outstanding knowledge of the topics and excellent ability to connect the existing relationships among the various topics. 30-30L

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 3; if the syllabus of the previous exam is intensive of microeconomics, Chapter 21
ii) 3 credits:
Exam: written and oral test
Mark: out of 30
Chapters to be studied: Chapter 3, Chapter 10
iii) 4 credits or more:
Exam: written and oral test
Mark: out of 30
Chapters to be studied: Chapter 3, Chapter 10, plus integration to be agreed with the lecturer upon presentation of the content of the examination already taken.

Teaching tools

Students are warmly recommended to indicate either during the lectures or through e-mail possible problematic sections of the programme. In office hours the sections of the programme that have not been properly understood can be further explained.

The site http://www.core-econ.org is rich in useful learning resources for a better understanding of the topics discussed in the lectures. These resources will be pointed out during the classes.

Office hours

See the website of Giovanni Guidetti