28557 - Economics

Learning outcomes

The course introduces students to the basic principles of the discipline. Topics include the basics of how markets function, of how economic agents behave, and of macroeconomic analysis. These topics will be related to examples from the real world and current economic events. At the end of the course students are expected to have acquired the knowledge necessary for more advanced economics courses, and to understand and critically evaluate economic and public policy debates.

Course contents

The course is organized with a part of lectures taught online on MS TEAMS (20 hours) and another taught in presence (20 hours). The number of students allowed in class is determined on the basis of class capacity and by the health and safety provisions that deal with the pandemic emergency. In case more students want to attend classes in presence than permitted by the rules, a system of shifts will be organized so to allow students to participate. Regardless of the health-related conditions and the specific organization of the course, students will be able to follow the lessons of the entire course remotely on MS TEAMS.

The course consists of two modules: Microeconomics (Prof. Elena Argentesi) and Macroeconomics (Prof. Rossella Verzulli)

Topics of the first module (Microeconomics)

1) Introduction to economics

2) Supply and demand

3) Elasticity

4) Demand

5) Perfectly competitive supply

6) Market efficiency

7) Monopoly

8) Oligopoly

9) Externalities and public goods

Topics of the second module (Macroeconomics)

1) Introduction to macroeconomics

2) Measuring the price level and inflation

3) Money, prices and the Federal Reserve

4) Short-term economic fluctuations

5) Spending and output in the short-run

6) Stabilizing the economy: the role of the FED

7) Aggregate demand, aggregate supply, and inflation

Readings/Bibliography

Frank, Bernanke, Antonovics and Heffetz, Principles of Economics, 7th edition, McGraw Hill, 2019.

Teaching methods

lectures

Assessment methods

Online oral exam

Teaching tools

slides available on the Virtuale platform

Office hours

See the website of Elena Argentesi

See the website of Rossella Verzulli