ECONOMICS

Scienze Politiche e delle Relazioni Internazionali ECONOMICS

1212100003
DEPARTMENT OF POLITICAL AND COMMUNICATION SCIENCES
EQF6
POLITICAL AND INTERNATIONAL RELATIONS SCIENCE
2022/2023



OBBLIGATORIO
YEAR OF COURSE 1
YEAR OF DIDACTIC SYSTEM 2019
AUTUMN SEMESTER
CFUHOURSACTIVITY
1ISTITUZIONI DI ECONOMIA - M1
640LESSONS
2ISTITUZIONI DI ECONOMIA - M2
640LESSONS
Objectives
THE MAIN GOAL OF THIS COURSE IS TO PROVIDE AN INTRODUCTION TO THE FUNDAMENTAL TOPICS OF BOTH MICROECONOMICS AND MACROECONOMICS AND TO TRANSMIT TO STUDENTS THE IMMEDIATE TOOLS FOR UNDERSTANDING AND INTERPRETING THE MOST SIGNIFICANT ECONOMIC ASPECTS OF REALITY.
Prerequisites
PREREQUISITES ARE NOT MANDATORY BUT FUNDAMENTALS OF MATHEMATICS AND GEOMETRY AT SECONDARY SCHOOL LEVEL CAN BE USEFUL TO UNDERSTAND THE GRAPHICAL ANALYSIS PRESENTED IN THIS COURSE. THE ANALYTICAL INSTRUMENTS USED ARE ELEMENTARY (GRAPHICS IN A SYSTEM OF CARTESIAN AXES, SIMPLE ARITHMETIC AND ALGEBRIC EXPRESSIONS, ELEMENTARY EQUATIONS) AND WILL BE RECALLED AT THE BEGINNING OF THE COURSE.
Contents
REFERENCE TEXTS:
MICROECONOMIA DI DAVID A. BESANKO, RONALD R. BRAEUTIGAM
SCOPRIRE LA MACROECONOMIA. I. QUELLO CHE NON SI PUÒ NON SAPERE. OLIVIER BLANCHARD, ALESSIA AMIGHINI, FRANCESCO GIAVAZZI

1. INTRODUCTION TO ECONOMICS
MICROECONOMICS AND MACROECONOMICS. THE ECONOMIC SYSTEM AND BASIC PRINCIPLES OF THE ANALYSIS OF THE ECONOMIC PROBLEM.
2. DEMAND, SUPPLY, MARKET BALANCE
ENDOGENOUS AND EXOGENOUS VARIABLES, MOVEMENTS ALONG THE CURVE AND TRANSPOSITIONS OF THE DEMAND AND SUPPLY CURVE
3. ELASTICITY OF THE DEMAND AND THE SUPPLY
THE CONCEPT OF ELASTICITY IN RELATION WITH THE SLOPE OF THE DEMAND AND SUPPLY CURVE. ELASTICITY ALONG THE LINEAR DEMAND CURVE.
4. THE CONSUMER THEORY
THE BUDGET CONSTRAINT. UTILITY FUNCTION, INDIFFERENCE CURVES AND PREFERENCES PROPERTIES. CONSUMER CHOICE, EQUILIBRIUM VARIATIONS, INCOME EFFECT AND SUBSTITUTION EFFECT.
5. THE THEORY OF THE FIRM
ISOQUANTS AND ISOCOSTS, COST MINIMIZATION, PRODUCTION COSTS.
6. FIRM’S BEHAVIOR AND MARKET STRUCTURES
PERFECT COMPETITION, MONOPOLY, OLIGOPOLY
7. AGGREGATE PRODUCTION
ANALYSIS OF GDP AND ITS COMPONENTS.
8. THE GOODS MARKET
THE DETERMINATION OF THE EQUILIBRIUM PRODUCTION
9. THE FINANCIAL MARKETS
MONEY DEMAND, MONEY SUPPLY AND EQUILIBRIUM INTEREST RATE
10. THE GOODS MARKET AND FINANCIAL MARKETS: THE IS-LM MODEL
11. THE LABOR MARKET
THE DETERMINATION OF WAGES, THE DETERMINATION OF PRICES, THE NATURAL RATE OF UNEMPLOYMENT
12. THE PHILLIPS CURVE, THE NATURAL RATE OF UNEMPLOYMENT AND INFLATION
Teaching Methods
FRONT LESSONS AND TUTORIALS.
THEORETICAL LESSONS ARE SUPPORTED BY GRAPHIC EXPLANATIONS AND BASIC MATHEMATICS REFERENCES THAT CAN SIMPLIFY THE UNDERSTANDING OF THE MOST COMPLEX CONCEPTS. THE ECONOMIC CONCEPTS ARE PRESENTED BY OPENING DISCUSSIONS WITH THE STUDENTS IN ORDER TO MAKE BOTH THE ECONOMIC TERMINOLOGY AND THE ECONOMIC REASONING CLEAR. PARTICULAR EMPHASIS IS GIVEN TO THE ECONOMICS INTENDED AS A DECISION-MAKING METHOD FOR THE MICROECONOMICS AND CRITICAL-EVALUATION PART IN TERMS OF RESOLUTION OF PROBLEMS SUCH AS UNEMPLOYMENT, INFLATION AND GROWTH FOR THE MACROECONOMIC ASPECT. THE TUTORIALS INCLUDE BOTH RESOLUTIONS OF EXERCISES IN WHICH THE TECHNIQUES PRESENTED IN THE THEORETICAL LESSONS ARE USED AND THE GRAPHICAL RESOLUTION OF MACROECONOMIC PROBLEMS THROUGH THE USE OF MONETARY AND FISCAL POLICIES.
Verification of learning
WRITTEN VERIFICATION TEST WITH ORAL EXAM INTEGRATION. THE FINAL EXAMINATION HAS THE PURPOSE OF CHECKING THE KNOWLEDGE ACQUIRED DURING THE HOURS OF LESSON AND EXERCISE AND AUTONOMOUSLY FROM STUDYING THE SUGGESTED TEXTBOOKS. THE WRITTEN TEST IS COMPOSED OF QUESTIONS WITH MULTIPLE ANSWERS AND EXERCISES ON THE TOPICS OF MICROECONOMICS AND MACROECONOMICS.
Texts
REFERENCE TEXTS:
MICROECONOMIA DI DAVID A. BESANKO, RONALD R. BRAEUTIGAM
SCOPRIRE LA MACROECONOMIA. I. QUELLO CHE NON SI PUÒ NON SAPERE. OLIVIER BLANCHARD, ALESSIA AMIGHINI, FRANCESCO GIAVAZZI

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