Learning outcomes of the course unit
The objective of the course is to provide students with the basic notions of economic theory, thus increasing their understanding of economic events characterizing the current National and International debate.
Course contents summary
The general part of the course will consider both a microeconomic approach (the analysis of the behavior of single economic agents, such as consumers and firms, and of their interactions in single markets) and a macroeconomic one (the analysis of variables and phenomena at an aggregate level).
The program of this part will focus on:
- an introduction to economics;
- the principle of comparative advantage;
- the functioning of the market, analyzing the concepts of demand and supply, and presenting the concept of elasticity of demand and supply and its applications;
- the concepts of consumers surplus, producer surplus and market efficiency;
- the concepts of externalities, public goods and common resources;
- firm’s behavior and the notions of production functions, costs, revenues, and economies of scale;
- different types of market structures, such as perfect competition, monopoly, oligopoly and monopolistic competition
- components of GDP and its measurement;
- the concept of economic growth in relation to the concept of economic development and the determinants of economic growth; saving and investment; unemployment;
- money and prices (the meaning of money; the functions of money; money supply and demand; inflation and its costs);
- short-run economic fluctuations (spending multiplier, aggregate demand and aggregate supply);
- the recent financial crisis.
The special part of the course will develop the themes of welfare economics.
With reference to the general part
N.G. MANKIW M.P. TAYLOR, L’essenziale di economia, Bologna, Zanichelli, 2012, Quinta edizione (pp. 518).
With reference to the special part
Intervento pubblico, efficienza ed equità (booklet available at the department) (pp. 28).
Lectures and exercises.
Assessment methods and criteria
Written and oral exam.
For students who attend lectures written exercises which replace the final written exam are held during the course.