00256 - Economics

Learning outcomes

At the end of the teaching activities, students will have learned the major micro-and macro-economic models and national accounting, acquired knowledge to interpret the debate on the functioning of the Italian and European economic systems and the main economic policy proposals. In addition, they will have acquired the ability to understand the main problems of economic development, those arising in the less developed regions of economically advanced and developing countries, as well as the principles of comparison needed to evaluate the measures of international cooperation. They will learn how to orient themselves in the use of basic bibliographical tools, knowing terminology and methods used in the economic analysis and how to address the key issues and critically approach the texts.

Course contents

Those students who are required to take the exam of Economics are asked to follow the program of the current year even if enrolled in previous years. During the relevant term, integrative classes could be held to deepen and/or refresh topics that will be communicated in class and must be considered an integral part of the course program.
The course addresses the following contents.

MICROECONOMICS
Objects and methods of economic policy
Models and analytical tools
Consumer and market demand
Firm and production theory
Markets for goods under perfect competition
Interaction between supply and demand
Markets for factors of production
Non-competitive markets
Externalities, public goods, public policy

MACROECONOMICS

National accounts and macroeconomic variables
GDP determination
Financial markets and IS-LM model
Aggregate supply and price adjustment
Open economy: balance of payments, foreign trade and exchange rates

Very likely a new edition of the manual will be issued. Additions or modifications of the program will be suggested during the lectures.

Readings/Bibliography

(1) G. ANTONELLI, N. DE LISO, G. GUIDETTI, R. LEONCINI, G. VITTUCCI MARZETTI, L. ZAMPARINI, Economia, Turin, Giappichelli, 5th edition, 2019.

(2) R. LEONCINI, M. MACALUSO, G. PEDRINI, Economia. Quesiti, Giappichelli, Turin, 4th edition, 2019.

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.

The course will be articulated into a series of lectures and some practice exercises held by the tutor. The lectures will be about the systematic exposition of the main topics of the course (see Course Contents). The exercises will train students to practice with the types of questions they will face in the written examination.

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. Therefore, students are strongly advised not to postpone the exam in their curriculum.

Assessment methods

The exam is intended to verify the achievement of the following learning objectives:
• knowledge of the main micro-and macro-economic models and the main topics of national accounts presented 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 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.

In the written test students must answer three types of questions: multiple choice questions; questions true or false, open-ended questions with a limited number of words.
In the oral examination students will answer questions about their mistakes in the written test, about the final parts of the program and about those parts of the program that the students will have to prepare depending on the number of CFU and depending on whether they are attending or not attending the lectures (see below).

The examination program for students attending the course is different from that for non-attending students. Only those students who will attend the course will benefit from reductions in the examination.
Not attending classes is therefore counterproductive, while a frequency and careful study "time-to-time" are the best strategy to deal with the examination papers.

Students not attending the course who have taken and not passed at least four written tests, on an exceptional basis and with the approval of the lecturer, could access the oral test. However, written tests are not considered if open-ended questions are not answered. The possibility to take advantage of this opportunity is closely linked to the proper execution of the following procedures. After accumulating at least 4 written insufficient written tests: (1) the student must contact the lecturer via e-mail, indicating the exact dates (day / month / year) of the last 4 exam session in which he advocated the written test without success, and making a request to access to the oral test if the written one proves again insufficient; the lecturers, after having considered the responses to the questions in the tests reported, may authorize the student to take the oral exam, (2) the student is still required to register and regularly take the written test, (3) the admission to the oral test does not involve any form of "discount" on the program.

 

In this period of emergency, the exam will consist of a online written test that will be made available, in the day and hour established on AlmaEsami website, on the platform EOL (Esami On Line - https://eol.unibo.it/).
To be admitted to the test, students must have been previously enrolled on AlmaEsami.
The test is composed of several questions to which the student must answer within a certain time limit.
The questions will be of two types: multiple choice and true/false.
VLE immediately shows the final mark obtained, which must be either eccepted or refused by writing an e-mail to the teaching staff.

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 8; if the syllabus of the previous exam is intensive of microeconomics, Chapter 14
ii) 3 credits:
Exam: written and oral test
Mark: out of 30
Chapters to be studied: Chapter 8, Chapter 14
iii) 4 credits or more:
Exam: written and oral test
Mark: out of 30
Chapters to be studied: Chapter 8, Chapter 14, plus other integrations to be agreed with the lecturer upon presentation of the content of the examination already taken.

No pre-entry courses are required

Teaching tools

The teaching staff will ask students to communicate, either directly during the lectures or via e-mail, the parts of the program they have problems in understanding, in order to come again on these topics in the following lectures or to discuss them at the end of each lecture.

During surgery hours parts of the program can be re-discussed and re-explained.

E-mail messages can be normally used for brief and concise questions.

Practice exercises are organized also in order to furnish further clarifications of the program.

In order to receive adequate answers, e-mails must be signed.

Students with disabilities (DSA), who need specific teaching and learning instruments, can convey their requests to the teaching staff, in order to be addressed to the proper contact person, or to plan the proper procedures.

Office hours

See the website of Riccardo Leoncini