PRINCIPLES OF ECONOMY
Learning outcomes of the course unit
Knowledge and understanding:
Students will demonstrate knowledge and understanding in microeconomic theory of the firma s well as macroeconomics.
Applying knowledge and understanding:
Students can apply knowledge and understanding and have competences demonstrated through devising and sustaining arguments within micro and macroeconomics.
students will have the ability to gather and interpret relevant data within the field of economics to inform judgements and reflection.
Students will demonstrate capabilities to communicate information, ideas, problems and solutions within the field of economics.
Students will develop those learning skills that are necessary for them to further develop a solid knowledge base of integrated economic models with a high degree of autonomy
Course contents summary
The course introduces the main issues of individual economic behaviour with a reference to consumers and firms, and the analysis of competitive and non-competitive markets. Presenting and discussing the different topics, through exercises and classes and through the discussion of actual cases, the student is able to understand many problems of the functioning of the markets. Also, the course provides students with the theoretical framework needed to understand the functioning of the economy as a whole, and investigates the level and rate of change of the determinants of aggregate variables such as the gross domestic product, the price level, the unemployment rate, the rate of interest and the exchange rate.
Theory of the firm. Technology and production. The competitive model. Market power: monopoly, oligopoly and strategic behavior. Goods and Financial Markets: the IS-LM model The Labor Market The AS-AD model The Natural Rate of Unemployment and the Phillps Curve Financial Markets and Expectations Expectations, Output and Policy Government Debt Openness in Goods and Financial Markets Output, the Interest Rate and the Exchange Rate.
- Petroni A., Pavesi F., Istituzioni di Economia, Editrice Campus Parma, codice ISBN: 9788898237005, available at Copy&Press, Via Spolverini, 4/A - 43126 PARMA.
- Begg, D., G. Vernasca, S. Fischer e R. Dornbusch, “Economia”, McGraw-Hill,
- Blanchard, O., A. Amighini e F. Giavazzi, “Macroeconomia”, Il Mulino, 2011.
The lecture will be a blending of the instructor presenting relevant material and a learning by doing of the students (exercises) in order to stimulate their critical thinking.
Assessment methods and criteria
The exam consists of a written test, both in form of open questions and exercises.
participation in lectures is not compulsory. Lecture slides in “pdf” format will be made available via web to unattending students.