Economics
A.Y. 2023/2024
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: Second semester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Surname A-C
Responsible
Lesson period
Second semester
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
Analytical Course syllabus
What is economics? - Graphical analysis as an indispensable tool to visualize the "economic laws"
- Microeconomics.
The principles behind microeconomic choices: the cost-benefit analysis at the margin (chap.I, II) - Demand, supply and market equilibrium (chap. III) - The elasticity (chap.IV); The theory of optimal consumer choice (chap.V) - The firm theory: production and cost (chap VI) - The theory of markets: the perfect competition market - The theory of non-competitive markets: Monopoly, Monopolistic competition and oligopoly (chap.VII) - Market failures: externalities, public goods and asymmetric information (chap.VIII);
- Macroeconomics.
The main macroeconomic variables and the national accounts system (chap. IX); the income-expenditure model and the Keynesian multiplier (chap.X); - The IS-LM model (chap.XI) - The ECB and the money supply (chap. XII) The AD-AS model (chap.XIII); - The Phillips curve and the causes of inflation in the short and long term (chap XIV) - The open macroeconomic systems (chap XV) - The international trade theory (chap.XVI).
Analytical Course syllabus
What is economics? - Graphical analysis as an indispensable tool to visualize the "economic laws"
- Microeconomics.
The principles behind microeconomic choices: the cost-benefit analysis at the margin (chap.I, II) - Demand, supply and market equilibrium (chap. III) - The elasticity (chap.IV); The theory of optimal consumer choice (chap.V) - The firm theory: production and cost (chap VI) - The theory of markets: the perfect competition market - The theory of non-competitive markets: Monopoly, Monopolistic competition and oligopoly (chap.VII) - Market failures: externalities, public goods and asymmetric information (chap.VIII);
- Macroeconomics.
The main macroeconomic variables and the national accounts system (chap. IX); the income-expenditure model and the Keynesian multiplier (chap.X); - The IS-LM model (chap.XI) - The ECB and the money supply (chap. XII) The AD-AS model (chap.XIII); - The Phillips curve and the causes of inflation in the short and long term (chap XIV) - The open macroeconomic systems (chap XV) - The international trade theory (chap.XVI).
Prerequisites for admission
Being a first year course, there are no specific prerequisites different from those required for access to the degree course. In particular, the skills of basic mathematical tools is considered known.
Teaching methods
Teaching is provided by means of face-to-face lessons designed to present the foundations of microeconomic and macroeconomic theory, including the analysis of case studies.
Teaching Resources
Economia: un approccio semplice a una realtà complessa, con un'introduzione di Mario Pomini, Parravicini P., Graffi A., Giappichelli editore, seconda edizione, 2023
Assessment methods and Criteria
Written exam with open and closed questions, graphs and excercises. Passing grades range from 18 to 30 cum laude. Further information is available on the Ariel teaching platform. Grades will be communicated through the on line verbalization procedure and the student can refuse the grade and retake the exam. The examination is aimed at assessing and verifying whether and how much the student knows, has understood and is able to explain and illustrate the micro and macroeconomic mechanisms, also through a graphic analysis.
Those who do not pass the "written multiple choice" exam twice, even if not consecutively, or refuse a positive mark twice, even if not consecutively, will take the oral exam. This in order to be able to obtain a positive outcome or a more satisfactory outcome of the exam through the oral interview which allows a more articulated answer to the questions proposed by the Commission.
Those who do not pass the "written multiple choice" exam twice, even if not consecutively, or refuse a positive mark twice, even if not consecutively, will take the oral exam. This in order to be able to obtain a positive outcome or a more satisfactory outcome of the exam through the oral interview which allows a more articulated answer to the questions proposed by the Commission.
Surname D-L
Responsible
Lesson period
Second semester
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
Analytical Course syllabus
- Microeconomics.
What is economics? - Graphical analysis as an indispensable tool to visualize the "economic laws"; the principles behind microeconomic choices: the cost-benefit analysis at the margin (chapters 1,2) - Demand, supply and market equilibrium (chapter 3)- The elasticity (chapter 4)- The theory of optimal consumer choice (chapter 5) -- The firm theory: production and cost (chapter 6) - The theory of markets: the perfect competition market - The theory of non-competitive markets: Monopoly, Monopolistic competition and oligopoly (chapter 7)- Market failures: externalities, public goods and asymmetric information (chapter 8);
- Macroeconomics.
The main macroeconomic variables and the national accounts system (chapter 9) - the income-expenditure model and the Keynesian multiplier (chapter 10)- The IS-LM model (chapter 11)- The ECB and the money supply (chapter 12) - The AD-AS model (chapter 13)- The Phillips curve and the causes of inflation in the short and long term (chapter 14)- The open macroeconomic systems (chapter 15) - The international trade theory (chapter 16).
Analytical Course syllabus
- Microeconomics.
What is economics? - Graphical analysis as an indispensable tool to visualize the "economic laws"; the principles behind microeconomic choices: the cost-benefit analysis at the margin (chapters 1,2) - Demand, supply and market equilibrium (chapter 3)- The elasticity (chapter 4)- The theory of optimal consumer choice (chapter 5) -- The firm theory: production and cost (chapter 6) - The theory of markets: the perfect competition market - The theory of non-competitive markets: Monopoly, Monopolistic competition and oligopoly (chapter 7)- Market failures: externalities, public goods and asymmetric information (chapter 8);
- Macroeconomics.
The main macroeconomic variables and the national accounts system (chapter 9) - the income-expenditure model and the Keynesian multiplier (chapter 10)- The IS-LM model (chapter 11)- The ECB and the money supply (chapter 12) - The AD-AS model (chapter 13)- The Phillips curve and the causes of inflation in the short and long term (chapter 14)- The open macroeconomic systems (chapter 15) - The international trade theory (chapter 16).
Prerequisites for admission
Being a first year course, there are no specific prerequisites different from those required for access to the degree course. In particular, the skills of basic mathematical tools is considered known.
Teaching methods
Teaching is provided by means of face-to-face lessons designed to present the foundations of microeconomic and macroeconomic theory, including the analysis of case studies.
Teaching Resources
Economia: un approccio semplice a una realtà complessa, con un'introduzione di Mario Pomini, Parravicini P., Graffi A., Giappichelli editore, seconda edizione, 2023
Assessment methods and Criteria
Written exam with open and closed questions, graphs and exercises. Passing grades range from 18 to 30 cum laude. Further information is available on the Ariel teaching platform. Grades will be communicated through the on line verbalization procedure and the student can refuse the grade and retake the exam. The examination is aimed at assessing and verifying whether and how much the student knows, has understood and is able to explain and illustrate the micro and macroeconomic mechanisms, also through a graphic analysis.
Those who do not pass the "written multiple choice" exam twice, even if not consecutively, or refuse a positive mark twice, even if not consecutively, will take the oral exam. This in order to be able to obtain a positive outcome or a more satisfactory outcome of the exam through the oral interview which allows a more articulated answer to the questions proposed by the Commission.
Those who do not pass the "written multiple choice" exam twice, even if not consecutively, or refuse a positive mark twice, even if not consecutively, will take the oral exam. This in order to be able to obtain a positive outcome or a more satisfactory outcome of the exam through the oral interview which allows a more articulated answer to the questions proposed by the Commission.
Surname M-Q
Responsible
Lesson period
Second semester
Course syllabus
Face-to-face classes on the following topics:
1. Microeconomics: introduction and methodology; demand and supply; consumer's preferences and consumer's choice; the income-consumption curve; income and substitution effects; consumer's surplus; technology, costs and production decisions; prices in perfectly and monopolistic markets.
2. Macroeconomics: GDP; national accounts; money demand and supply, interest rate and the Central Bank; monetary and real markets; exchange rates and the open economy; aggregate demand and supply: prices, wages and employment.
1. Microeconomics: introduction and methodology; demand and supply; consumer's preferences and consumer's choice; the income-consumption curve; income and substitution effects; consumer's surplus; technology, costs and production decisions; prices in perfectly and monopolistic markets.
2. Macroeconomics: GDP; national accounts; money demand and supply, interest rate and the Central Bank; monetary and real markets; exchange rates and the open economy; aggregate demand and supply: prices, wages and employment.
Prerequisites for admission
Knowledge of elementary algebra.
Teaching methods
Teaching is provided by means of face-to-face lessons designed to present the foundations of microeconomic and macroeconomic theory, including the analysis of case studies and exercises.
Teaching Resources
To prepare the exam, the primary textbook is:
· Corso di Economia Politica, (edition prepared for: Università degli Studi di Milano, Corso di Laurea in Giurisprudenza, cattedre M-Q e R-Z), McGraw-Hill Create, 2023. Students can skip reading the following parts: Approfondimenti 5.1, 5.2 and Appendice 5 of the chapter Moneta, Interesse e Reddito; Applicazione 6.1, Approfondimenti 6.1, 6.2 and paragraph 6.4 of the chapter Politica Monetaria e Politica Fiscale; Formalizzazione Matematica 7.1, 7.2, 7.3 and Applicazioni 7.1, 7.2 of the chapter Legami Economici Internazionali; Approfondimenti 8.1, 8.2 and Appendice 8 of the chapter Offerta e Domanda Aggregate.
Additional teaching materials will be uploaded on the ARIEL platform.
· Corso di Economia Politica, (edition prepared for: Università degli Studi di Milano, Corso di Laurea in Giurisprudenza, cattedre M-Q e R-Z), McGraw-Hill Create, 2023. Students can skip reading the following parts: Approfondimenti 5.1, 5.2 and Appendice 5 of the chapter Moneta, Interesse e Reddito; Applicazione 6.1, Approfondimenti 6.1, 6.2 and paragraph 6.4 of the chapter Politica Monetaria e Politica Fiscale; Formalizzazione Matematica 7.1, 7.2, 7.3 and Applicazioni 7.1, 7.2 of the chapter Legami Economici Internazionali; Approfondimenti 8.1, 8.2 and Appendice 8 of the chapter Offerta e Domanda Aggregate.
Additional teaching materials will be uploaded on the ARIEL platform.
Assessment methods and Criteria
Written exam. Passing grades range from 18 to 30 cum laude. Grades will be communicated through the on line verbalization procedure and the student can refuse the grade and sit again the exam.
Surname R-Z
Responsible
Lesson period
Second semester
Course syllabus
32 face-to-face lectures covering the following topics:
1. Microeconomics: introduction and methodology; demand and supply; consumer's preferences and consumer's choice; the income-consumption curve; income- and substitution effects; consumer's surplus; technology, costs and production decisions; prices in perfectly and monopolistic markets.
2. Macroeconomics: GDP; national accounts; money demand and supply, interest rate and the Central Bank; monetary and real markets; exchange rates and the open economy; aggregate demand and supply: prices, wages and employment.
1. Microeconomics: introduction and methodology; demand and supply; consumer's preferences and consumer's choice; the income-consumption curve; income- and substitution effects; consumer's surplus; technology, costs and production decisions; prices in perfectly and monopolistic markets.
2. Macroeconomics: GDP; national accounts; money demand and supply, interest rate and the Central Bank; monetary and real markets; exchange rates and the open economy; aggregate demand and supply: prices, wages and employment.
Prerequisites for admission
Knowledge of elementary algebra.
Teaching methods
Teaching is provided by means of face-to-face lessons designed to present the foundations of microeconomic and macroeconomic theory, including the analysis of case studies and exercises.
Teaching Resources
The textbook is:
· Corso di Economia Politica, (edition prepared for: Università degli Studi di Milano, Corso di Laurea in Giurisprudenza, cattedre M-Q e R-Z), McGraw-Hill Create, 2023. ISBN: 9781307864984. Students can skip reading the following parts: Applicazione 4.1 of the chapter Reddito e Spesa, Approfondimenti 5.1, 5.2 and Appendice 5 of the chapter Moneta, Interesse e Reddito; Applicazione 6.1, Approfondimenti 6.1, 6.2 and paragraph 6.4 of the chapter Politica Monetaria e Politica Fiscale; Formalizzazione Matematica 7.1, 7.2, 7.3 and Applicazioni 7.1, 7.2 of the chapter Legami Economici Internazionali; Approfondimenti 8.1, 8.2 and Appendice 8 of the chapter Offerta e Domanda Aggregate.
Additional teaching materials will be uploaded on the ARIEL platform.
· Corso di Economia Politica, (edition prepared for: Università degli Studi di Milano, Corso di Laurea in Giurisprudenza, cattedre M-Q e R-Z), McGraw-Hill Create, 2023. ISBN: 9781307864984. Students can skip reading the following parts: Applicazione 4.1 of the chapter Reddito e Spesa, Approfondimenti 5.1, 5.2 and Appendice 5 of the chapter Moneta, Interesse e Reddito; Applicazione 6.1, Approfondimenti 6.1, 6.2 and paragraph 6.4 of the chapter Politica Monetaria e Politica Fiscale; Formalizzazione Matematica 7.1, 7.2, 7.3 and Applicazioni 7.1, 7.2 of the chapter Legami Economici Internazionali; Approfondimenti 8.1, 8.2 and Appendice 8 of the chapter Offerta e Domanda Aggregate.
Additional teaching materials will be uploaded on the ARIEL platform.
Assessment methods and Criteria
Written exam. Passing grades range from 18 to 30 cum laude. Grades will be communicated through the on line verbalization procedure and the student can refuse the grade and retake the exam.
Educational website(s)
Professor(s)
Reception:
14.30 -15.30
Dipartimento di Diritto Privato e Storia del Diritto, stanza 1117