28674 - Economics, Markets and Production Sectors T-AB

Learning outcomes

The course consists of two modules. The first introduces the students to the understanding of modern economic systems, of their evolution, and their features (production processes and markets) in an international environment. A specific economic analysis both of financial and information sectors and of their markets will be provided. The second module examines the firm in the perspective of the political economy, presenting models explaining the firm's economic behaviour. Lectures will enable the students to know the working of the economic system, of the different kinds of market and of firm, to appraise their problems and to explore the outcome of territorial productive clusters.

Course contents

The students planning to chose this discipline don’t need a prior knowledge in Economics. The program of the course has been organized specifically for students majoring in engineering and needing the elementary concepts of the field of study to understand the behavioral models of the firm. Thus, to ease the learning of the subject it is highly recommended to attend the lectures.

The first module of the course introduces to the study of the economic system and of its structure. It consists of the following topics:

1. THE ECONOMIC SYSTEM
    1.1 Emergence and evolution of the modern economic system
          Technological and social change in the evolution of capitalism
          The features of capitalist economies
    1.2 Structure, working and accounting of modern economic systems
          Structure and coordination of modern economic systems
          Concepts and indicators for the appraisal of the performance of the economies
2. ECONOMIC AGENTS
    2.1 Firms, househols and government
          The production process and its analytical units
          The industrial sectors as a subset of the economy
          The household and the market demand
    2.2 Focus: The production of financial and information services
           Finantial sector
           Information and communication sectors
3. THE COORDINATION OF ECONOMIC ACTIVITIES
    3.1 The market
          Market general features and typologies
          The economic analysis of the market
    3.2 Focus: Financial and information markets
          Financial services and markets
          Information services, advertizing and information markets

The second module is devoted to the study of firm's behaviour economic models and of industrial structure (with particular attention to Italy). The topics that will be analysed are the following:

1. THE ECONOMIC ANALYSIS OF THE FIRM
    1.1 The firm
          Evolution and models of firm behaxiour
    1.2 The traditional theory of the firm: The firm as an algorithm
          Costs, revenues, profits
          The competitive firm, monopoly and monopolistic competition
    1.3 Oligopoly   
          Models of oligopoly: Cournot, Osborne, Stackelberg, Bertrand and Sweezy
          Barriers and price as a strategic variable
    1.4 The firm as an organization
          Towards the firm as an organization: Baumol and Marris managerial models
          The firm as an organization: the contract approach
          The firm as an organization: the systemic-evolutionary approasch
2. INDUSTRIAL ORGANIZATION
    2.1 Sector's structure and competition
          Concentration, integration and diversification
    2.2 Focus: Industrial production in Italy
          The evolution of Italian industry
          Industrial districts

Readings/Bibliography

The first module is an introductory part of the course aiming at provide the students with basic concepts used in the second module. Thus it relies on the notes taken by the students during the lectures, on the slides posted by the teacher on the University web site ((AMS Campus - AlmaDL) and on the following book:

F. Galimberti, R. Sabbatini, G. R. Simone (a cura di) (2009) Come si legge Il Sole-24 ore, Milano, Il Sole-24 ore

 

As to the second module students must take notes during the lecture and study both the contents of the files posted by the teacher on the University web site (AMS Campus - AlmaDL) and the following books:

  L. Barbarito (1999) L'analisi di settore. Metodologia e applicazioni, Milano, Franco Angeli
G. Fornengo (2007) Lezioni di economia di impresa, Torino, Giappichelli

Teaching methods

The arguments of both modules will be developed through frontal lectures. For the purpose of easing the learning, during the first module will be planned the distribution of two questionnaires of 30 multiple choice answers (whose in class revision will constitute student exercise). The learning assessment for the second module will be at the end of the lectures.

Assessment methods

For the students attending lectures the first module learning assessment is made by the in progress distribution of two questionnaires presenting 30 multiple choice questions for each one. As to the second module the learning assessment consists of a computer six open question exam at the end of the lectures lasting 2 hours. Each test of the first module counts 15% of the exam score, while the final test counts for the 70 % of the final score.

Not attending students must study a list of references (previously agreed with the teacher) to prepare themselves for a written exam consisting of two parts: the first is a 60 multiple choice questionnaire (to whom is attributed the 30% of the final score) and the second a computer test consisting of 6 open questions exam (that counts for the 70% of the final score). The time grant for both parts is 3 hours.

To pass the exam the student must prove its learning about the basic concepts of Economics, its knowledge of the structure and working of the economic system and its master in the topics and models on the firm behavior.

Office hours

See the website of Alessandro Romagnoli