81890 - Economics (F)

Learning outcomes

This course in Economics aims at introducing the basic principles of microeconomics and macroeconomics. Starting from the study of the fundamental theoretical models, the students will acquire knowledge and information useful in the interpretation of the current debate on the main themes concerning the functioning of the Italian and the European economic systems and the main economic policy recipes. The students should be also able to understand how development issues have to be dealt with in developed as well as in developing regions and how to compare them in order to assess international cooperation policies. In order to comply to his aim, they should engage in learning the specialized terminology, develop the basic analytical tools and make use of elementary bibliography.

Course contents

First section Foundations of microeconomics

1. Introduction to the analysis of demand and supply. The operation of markets
2. The consumer theory
3. The theory of cost and production in the short and in the long run
4. The hypothesis of profit maximasation
5. Alternative market structures: perfect competition in the short and in the long run
6. Alternative market structures: monopoly
7. Alternative market structures: monopolistic competition
8. Alternative market structures: oligopoly
9. The labour market in perfectly competitive markets. Labour demand and supply
10. Markets, efficiency and public interest.

Second section. Foundations of macroeconomics

1. The aims and the targets of macroeconomics
2. The circular flow of income
3. National income and output
4. The macroeconomic equilibrium in the short run
5. The national income in the Keynesian analysis
6. The money market
7. The money market and the market for goods and services. The ISLM model
8. An introduction to the analysis of fiscal and monetary policies

Readings/Bibliography

Begg D., Vernasca G., Fischer S., Dornbush, (2011), Economics, Tenth Edition, McGraw-Hill, Higher Education.

Teaching methods

The capability to use basic arithmetical and geometrical tools is required.

The regular attendance of the course is strongly recommended.

Assessment methods

The assessment is based on a written and oral examination.

A sufficient mark in the written examination is necessary in order to be admitted to the oral one.

Teaching tools

The capability to use basic arithmetical and geometrical tools is required.

The regular attendance of the course is strongly recommended.

Office hours

See the website of Giovanni Guidetti