Economics
A.Y. 2020/2021
Learning objectives
The course aims to provide the student with a cultural dimension and a series of technical tools essential both for a concrete and current understanding of the legal problem and, more generally, for a realistic knowledge of the economic and social aspects of the contemporary world. The course therefore aims to provide an introductory conceptual system to the fundamental questions concerning the organization and functioning of modern economic systems. The emphasis is on the need for a critical orientation in the examination of the various problems and on the methodological need to have some simple, but rigorous, tools for analysis of reality.
More precisely, the course aims to provide students with the basic notions of micro-economics and macro-economics so that they will be able to:
- acquire knowledge and understand the mechanisms underlying the economic agents' choices in the different markets and the economic rules for the functioning of a national economy;
- apply this knowledge and understanding in the solution of simple economic problems:
- analyze, evaluate and comment in a conscious and critical way, with autonomy of judgement, the main micro and macroeconomic facts, through the knowledge and the competences acquired;
- develop communication skills, participating with awareness and language ownership in the debate proposed in the classroom on the economic problems that will be stimulated by the teacher during the discussion of any topics;
- finally, through the knowledge of the course program, develop their learning skills in relation to the study of both other economic disciplines and juridical disciplines.
More precisely, the course aims to provide students with the basic notions of micro-economics and macro-economics so that they will be able to:
- acquire knowledge and understand the mechanisms underlying the economic agents' choices in the different markets and the economic rules for the functioning of a national economy;
- apply this knowledge and understanding in the solution of simple economic problems:
- analyze, evaluate and comment in a conscious and critical way, with autonomy of judgement, the main micro and macroeconomic facts, through the knowledge and the competences acquired;
- develop communication skills, participating with awareness and language ownership in the debate proposed in the classroom on the economic problems that will be stimulated by the teacher during the discussion of any topics;
- finally, through the knowledge of the course program, develop their learning skills in relation to the study of both other economic disciplines and juridical disciplines.
Expected learning outcomes
- Knowledge and understanding skills: the students will develop knowledge and will have to demonstrate understanding of the mechanisms that underlie the choices of economic operators in the different markets and the economic rules for the functioning of a national economy;
- Application skills: during the frontal lessons will be offered the possibility to apply knowledge and understanding through the proposal of simple and practical economic problems that will be solved in the classroom with the involvement of the students;
- Autonomy of judgment: the student, through the knowledge and competences acquired, will then be able to analyze, evaluate and comment in a conscious and critical way, with autonomy of judgment, the main micro and macroeconomic facts, as well as news and reports on economics presented by the media;
- Communicative skills: the student will have to develop communication skills by participating with awareness and language properties in the debate proposed in the classroom on economic issues. This ability must, however, emerge during the written evaluation;
- Learning skills: knowledge of the proposed program will enable students to develop their learning capacities in relation to the study both of other economic and legal disciplines
- Application skills: during the frontal lessons will be offered the possibility to apply knowledge and understanding through the proposal of simple and practical economic problems that will be solved in the classroom with the involvement of the students;
- Autonomy of judgment: the student, through the knowledge and competences acquired, will then be able to analyze, evaluate and comment in a conscious and critical way, with autonomy of judgment, the main micro and macroeconomic facts, as well as news and reports on economics presented by the media;
- Communicative skills: the student will have to develop communication skills by participating with awareness and language properties in the debate proposed in the classroom on economic issues. This ability must, however, emerge during the written evaluation;
- Learning skills: knowledge of the proposed program will enable students to develop their learning capacities in relation to the study both of other economic and legal disciplines
Lesson period: First semester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course cannot be attended as a single course. Please check our list of single courses to find the ones available for enrolment.
Course syllabus and organization
Single session
Responsible
Lesson period
First semester
The teaching in the emergency phase is provided in streaming through the Microsft Teams platform. Lessons will be recorded and left available to students for the duration of the semester. For further technical details check Ariel's notice board of the course.
Course syllabus
Economics studies the social laws concerning the use of scarce resources for the satisfaction of human, individual and collective needs in different historical and institutional contexts. Economics, in fact, is divided into two fundamental cores: microeconomics and macroeconomics.
SYLLABUS
Introduction
1. What is economics and why it is interesting. (Chap. 1, pp. 6-19)
2 Equations, graphs and tables ( Appendix 1 Chap.1, pp. 24-30)
Microeconomics
3. The market forces of supply and demand. (Chap. 3, pp. 31-40)
4. Demand, supply, equilibrium and economic policy. (Chap. 3, pp. 41-56)
5. Elasticity and its applications. (Chap. 4, pp. 59-79)
6 The theory of consumer choice (Chap. 5, pp. 81-89)
7. Learn in detail about the concepts of Consumer Demand. (Chap.5, pp. 89-97)
8. Production Costs and Firm Profits (Chap. 7, pp. 99- 120)
9 Firm and perfect competition in the short run. (Chap. 8, pp.125-141)
10. Firm and perfect competition in the long run. (Chap. 8, pp. 141-151)
11. Monopoly (Chap. 9, pp.155-168)
12. Monopolistic competition and oligopoly ( chap. 9, pp.169-182)
Macroeconomics
13.The Wealth of Nations: Defining and Measuring Macroeconomic Aggregates. (Chap. 17, pp. 224-239)
14. The Aggregate Expenditure Model: the components of spending ( Chap.18, pp.243-249)
15. Aggregate Expenditure at Economic Equilibrium ( Chap.18, pp. 249-257)
16. Money and banking (Cap.23, pp.298-305 e Cap.25, pp. 260-266)
17. The monetary policy ( Cap.25, 266-281 )
18 The IS-LM model: the real sector (Cap.21, pp. 284-289)
19. The IS-LM model: the monetary sector (Cap.21, pp. 289-293)
20. The IS-LM model: the Macroeconomic equilibrium and economic policies (Cap.21, pp. 293-297)
21. The Phillips curve ( Cap.23, pp. 305-315)
(The chapters in parentheses refer to the recommended text, Corso di Economia Politica Custom Publishing, McGraw-Hill, 2014-2015 , green cover).
SYLLABUS
Introduction
1. What is economics and why it is interesting. (Chap. 1, pp. 6-19)
2 Equations, graphs and tables ( Appendix 1 Chap.1, pp. 24-30)
Microeconomics
3. The market forces of supply and demand. (Chap. 3, pp. 31-40)
4. Demand, supply, equilibrium and economic policy. (Chap. 3, pp. 41-56)
5. Elasticity and its applications. (Chap. 4, pp. 59-79)
6 The theory of consumer choice (Chap. 5, pp. 81-89)
7. Learn in detail about the concepts of Consumer Demand. (Chap.5, pp. 89-97)
8. Production Costs and Firm Profits (Chap. 7, pp. 99- 120)
9 Firm and perfect competition in the short run. (Chap. 8, pp.125-141)
10. Firm and perfect competition in the long run. (Chap. 8, pp. 141-151)
11. Monopoly (Chap. 9, pp.155-168)
12. Monopolistic competition and oligopoly ( chap. 9, pp.169-182)
Macroeconomics
13.The Wealth of Nations: Defining and Measuring Macroeconomic Aggregates. (Chap. 17, pp. 224-239)
14. The Aggregate Expenditure Model: the components of spending ( Chap.18, pp.243-249)
15. Aggregate Expenditure at Economic Equilibrium ( Chap.18, pp. 249-257)
16. Money and banking (Cap.23, pp.298-305 e Cap.25, pp. 260-266)
17. The monetary policy ( Cap.25, 266-281 )
18 The IS-LM model: the real sector (Cap.21, pp. 284-289)
19. The IS-LM model: the monetary sector (Cap.21, pp. 289-293)
20. The IS-LM model: the Macroeconomic equilibrium and economic policies (Cap.21, pp. 293-297)
21. The Phillips curve ( Cap.23, pp. 305-315)
(The chapters in parentheses refer to the recommended text, Corso di Economia Politica Custom Publishing, McGraw-Hill, 2014-2015 , green cover).
Prerequisites for admission
Knowledge of elementary algebra
Teaching methods
Teaching is provided by means of frontal lessons designed to present the foundations of microeconomic and macroeconomic theory, including the analysis of practical cases and exercises carried out with the participation of students.
Teaching Resources
- Corso di Economia Politica, per il corso di laurea di Scienze dei Servizi Giuridici dell'Università degli Studi di Milano, Custom Publishing, McGraw-Hill, 2020-21.
Corso di Economia Politica Custom Publishing, McGraw-Hill, 2014-2015 , green cover.
Corso di Economia Politica Custom Publishing, McGraw-Hill, 2014-2015 , green cover.
Assessment methods and Criteria
The exam consists of a written test, with five open answers, and an exercise. This method is also confirmed in the case of remote exam, through the exam.net platform. Updates will be available on the Ariel website of the course, which is therefore good to consult regularly.
Professor(s)