Teaching code

4S00328

Teacher

Francesco Andreoli

Coordinator

Francesco Andreoli

Credits

6

Language

Italian

Scientific Disciplinary Sector (SSD)

SECS-P/01 - ECONOMICS

Period

2° periodo lezioni (2B) dal Apr 3, 2024 al May 23, 2024.

Courses Single

Authorized

Lessons timetable Moodle Seminars 0

Learning objectives

The course is intended to provide the student with the knowledge of the basic mechanisms of market functioning (micro perspective) and of the economic system of a country as a whole (macro perspective)

At the end of the course, the student will be able to elaborate on issues concerning: as for the micro level, the functioning of competition and public policies aimed at restoring market efficiency and improving the well-being of individuals; as for the macro level, fiscal and monetary policies. The student will be able to identify practical solutions, develop proper reasoning and argumentation, using both an appropriate and specific vocabulary, and a method based on continuous learning and knowledge updating.

Prerequisites and basic notions

No prior classes are required

Program

Economics studies the optimal allocation of scarce resources. The course studies how this allocation occurs, following both a micro approach, focused on the functioning of individual markets, and a macro approach, where interest shifts to the determinants of economic aggregates such as inflation, GDP, unemployment.

A. Presentation of the course
1. Political economy and economic policy
2. Credibility revolution in economic sciences

B. Micro
3. Demand, supply and markets
4. Markets, efficiency, well-being and economic policy
5. Externalities
6. Public goods
7. Market failures
8. Labor markets

C. Macro
9. National accounting and inflation
10. Unemployment
11. Supply and demand of money
12. Monetary and fiscal policy: The IS-LM model.
13. Interdependence and benefits of exchange

The course material (slides, exercises, additional readings) is available on the Moodle platform.

Bibliography

Didactic methods

In-presence lectures. The course includes 12 hours of “Virtual laboratory of political economy”. During these hours the students will have the opportunity to practice, with the support of the teacher, on the topics developed in the classroom.

Learning assessment procedures

The exam is only in written form with multiple-choice questions (theory and / or exercises). Some questions require providing arguments, to develop using the tools analyzed in the classroom, to support the answer. The exam text is the same for all students, regardless of their attendance in the classroom.

Evaluation criteria

The exam aims to ascertain knowledge of the topics in the course program and the ability to apply the concepts to the various problems proposed. The exam covers all topics in the syllabus that have been addressed in class.

Criteria for the composition of the final grade

The exam is made of 22 multiple-choice questions, graded 1.5 points each if the correct answer is provided and -0.5 points if the wrong answer is provided (expected grade per question is zero). Correct answers with missing or wrong argumentation (where requested) achieve a zero score. The exam grade is the sum of the score in each of the 22 questions and is expressed on a scale of 30. The exam is passed with a score >=17.5. The maximum grade (30 e lode) is obtained with an exam score >=30.5.

Exam language

Italiano