40430 - Principles of economics

Learning outcomes

This course provides a non-technical introduction to the basic concepts in economics. After taking this course students will be able to face alone further topics in Economics.  

Course contents

Introduction:

Thinking like an economist. Ten principles of economics. (2 hours)

Interdipendence and the gains from trade. (2 hours)

Microeconomics:

How markets work: the forces of supply and demand. (2 hours)

Implications for government policies. (2 hours)

Compettitive markets and economic efficiency. (2 hours)

Market failures and the role of the public sector: externalities and public goods. (4 hours)

Firm behavior: the costs of production, firms in competitive markets, monopoly. (6 hours)

Monopolistic competition. (2 hours)

Macroeconomics:

The data of macroeconomics: the nation's income, the cost of living and the unemployment. (6 hours)

Production and growth. (2 hours)

Money and prices in the long run. (2 hours)

Aggregate Demand and Aggregate Supply. (2 hours)

The Influence of Monetary and Fiscal Policy on Aggregate Demand. (2 hours)

Exercices. (2 hours)

Readings/Bibliography

N. Gregory Mankiw, Mark P. Taylor, Essentials of Economics, 6th Italian Edition, Zanichelli 2016.

Further reading (not required):

Robert H. Frank, Edward Cartwright, Microeconomia, McGraw-Hill Education 2013.

Robert H. Frank, Ben S. Bernanke, Moore McDowell, Rodney Thom, Ivan Pastine, Principles of economics, McGraw-Hill Education 2013.

Teaching methods

Frontal lessons and group discussions.

Assessment methods

Written exam (90 minutes). The exam will include 4-5 open questions. Calculators will be allowed, while any use of cell phones will be strictly forbitten.

Any form of academic dishonesty will not be tolerated.

Students are required to attend at least 70 per cent of the scheduled classes.

Teaching tools

Blackboard.

Office hours

See the website of Luciano Messori