65872 - Principles of Economics

Learning outcomes

At the end of the course students will know the basic theoretical instruments necessary to analyse the main economic phenomena, both at the microeconomic and macroeconomic level. Students will be able to understand and analyze consumer behaviour and firm behaviour, market mechanisms and the main issues related to the use of natural resources and the environment.

Course contents

Introductory economic principles: the economic science, microeconomics and macroeconomics. Analysis methods of economics, economic systems, economic subjects, human needs and economic goods.
Interdependence and the gains from trade.

Microeconomics principles and tools: demand, supply, elasticity, price, exchange and markets.
Production theory: production factors, production function, costs and revenue, optimum level of production.
Market structure: perfect competition, monopoly, oligopoly, monopolistic competition.
Market failures: externalities, public goods and common resources.

Macroeconomics principles and tools: macroeconomic circular flow, national accounting, income, consumption and investment.
The monetary system and inflation.
Short-run economic fluctuations, growth and development.

Readings/Bibliography

Gregory Mankiw "L'essenziale di economia" Zanichelli;

David Begg, Gianluigi Vernasca, Stanley Fischer, Rudiger Dornbusch "Economia" McGraw-Hill.

Lectures notes and further teaching materials recommended by the teacher

Teaching methods

Lectures and case studies.

Assessment methods

Final written test.

Teaching tools

whiteboard, pc and projector.

Office hours

See the website of Luca Camanzi