Academic Year 2022/2023

  • Teaching Mode: Traditional lectures
  • Campus: Bologna
  • Corso: Single cycle degree programme (LMCU) in Law (cod. 9232)

    Also valid for Single cycle degree programme (LMCU) in Law (cod. 9232)

Learning outcomes

This course aims at introducing students to the basic principles of microeconomics and macroeconomics. Starting from the fundamental theoretical models, the course will focus on knowledge useful in interpreting the current debate on the main issues concerning the performance of the Italian and European economic and institutional systems and the main economic policy recipes. The students should be able to understand how development issues can be dealt with in developed as well as developing regions and how to compare these regions in order to assess international cooperation policies. In order to comply to his aim, they should engage in learning the specialized terminology and develop the basic analytical tools.

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
  13. Introduction to macroeconomics
  14. The GDP
  15. Income and expenditure. The Keynesian multiplier
  16. Aggregate demand and supply
  17. The fiscal policy
  18. Money and the banking system
  19. Monetary policies.

Readings/Bibliography

Krugman P., Wells R., Economics, McMillan Education, 2018, Fifth Edition.

 

Chapters: 1, 2, 3, 4, 5, 6, 7, 8, 10, 12, 13, 14, 15, 16,17, 21, 22, 26, 27

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 optional.

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.

In the oral examination students will answer questions about their mistakes in the written test and the whole programme of the course.

For the students attending the course the written exam is split into two intermediate tests to be taken during the course.

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 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 written exam

a ) Instructions for students who attend the lectures

There are some different situations:

1) The student accepts her marks in both the intermediate test and does not want to take the oral part of the exam

If the student accepts her mark, she has to write me an e-mail stating that she accepts the mark resulting from the average of the intermediate tests.

2) The student accepts her marks in both the intermediate test and wants to take the oral part of the exam

The student should REGISTER ON ALMA ESAMI only for the oral part and NOT for the written part. The student should inform me with an e-mail that she is going to take the oral exam.

3) The student refuses the mark in one of the two intermediate tests.

First of all, the student should write a mail where she states that she refuses the mark in one of the two intermediate tests. Please, specify which mark is refused. Then she can retake the intermediate test in one of the official exam dates.

b) Instructions for students who do not attend the lectures

The total exam will be on the whole programme of the course. It will be made up of 8 multiple choices and two short essays. Time available: 45 minutes.

Then, if the student passes the exam and accepts the mark she has to decide whether she wants to take the oral exam, which is optional.

The oral exam

The oral exam is optional.

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

SDGs

Decent work and economic growth Reduced inequalities

This teaching activity contributes to the achievement of the Sustainable Development Goals of the UN 2030 Agenda.