Fundamental Economics
A.Y. 2023/2024
Learning objectives
The course aims to provide basic knowledge in the field of economics, with particular regard to the agrifood sector, the markets of agricultural commodities, and the consumers' behavior. Basic concepts of demand, supply, market, and price will be provided
Moreover, production costs, revenues, and profits will be studied. Different forms of markets will be described, with specific attention to their application in agrifood sector
Finally, the basics of macroeconomics and international trade will be described.
The transversal aim of the course is to provide basic knowledge of economics to enable students to understand economic phenomena at different scales.
Moreover, production costs, revenues, and profits will be studied. Different forms of markets will be described, with specific attention to their application in agrifood sector
Finally, the basics of macroeconomics and international trade will be described.
The transversal aim of the course is to provide basic knowledge of economics to enable students to understand economic phenomena at different scales.
Expected learning outcomes
1. Understanding of the forces acting in the market, roles and relationships.
2. Understanding of price formation in different forms of market
3. Understanding of the relationship between costs, revenues and profits
4. Understanding of the economic cycle, macroeconomic forces, and role of international trade
5. Ability to understand changes in the economic system and their repercussions on the agri-food sector, on farms and companies, on consumers.
2. Understanding of price formation in different forms of market
3. Understanding of the relationship between costs, revenues and profits
4. Understanding of the economic cycle, macroeconomic forces, and role of international trade
5. Ability to understand changes in the economic system and their repercussions on the agri-food sector, on farms and companies, on consumers.
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
Single session
Responsible
Lesson period
Second semester
Course syllabus
1) Introduction (0,5 CFU)
2) Microeconomics (3,5 CFU)
2a - Markets, Demand and Supply
2b - Demand
2c - Elasticity
2d - Markets in Action
2e - Production function, marginal returns, returns to scale
2f - The Supply Decision: costs, incomes and profits
2g - Market Structures
2h - Market Failures and Government Policy
3) Macroeconomics (2 CFU)
3a - The National Economy
3b - Unemployment, Inflation and Growth
3c - Fiscal Policy
3d - Money and Interest Rates
3e - International Trade. Balance of Payments; Exchange Rates.
2) Microeconomics (3,5 CFU)
2a - Markets, Demand and Supply
2b - Demand
2c - Elasticity
2d - Markets in Action
2e - Production function, marginal returns, returns to scale
2f - The Supply Decision: costs, incomes and profits
2g - Market Structures
2h - Market Failures and Government Policy
3) Macroeconomics (2 CFU)
3a - The National Economy
3b - Unemployment, Inflation and Growth
3c - Fiscal Policy
3d - Money and Interest Rates
3e - International Trade. Balance of Payments; Exchange Rates.
Prerequisites for admission
No
Teaching methods
Frontal lessons (in italian). The slides of the lessons will be available on Ariel platform.
In order to develop the understanding of articles, essays and debate about economic themes, many examples regarding agribusiness and national/international economies will be proposed in the lessons.
Although not mandatory, class attendance is strongly recommended.
In order to develop the understanding of articles, essays and debate about economic themes, many examples regarding agribusiness and national/international economies will be proposed in the lessons.
Although not mandatory, class attendance is strongly recommended.
Teaching Resources
Sloman J., Garratt D. - Essentials of Economics, Pearson (also available in Kindle edition). The slides of the lessons are available on Ariel Platform.
Assessment methods and Criteria
A final test through a questionnaire with open and closed questions. Time: 60 minutes. No materials (books, dictionary, etc.) may be used.
Evaluation passes are awarded in thirties, taking into account accuracy (closed questions) and propriety (open questions) of the answers. Evaluation will be send by email. The student may refuse it and repeat the test in the next session.
Exam sessions: the first at the end of the lessons; another two before August; another two on September; another three ones on November, February and April.
Evaluation passes are awarded in thirties, taking into account accuracy (closed questions) and propriety (open questions) of the answers. Evaluation will be send by email. The student may refuse it and repeat the test in the next session.
Exam sessions: the first at the end of the lessons; another two before August; another two on September; another three ones on November, February and April.
AGR/01 - AGRICULTURAL ECONOMICS AND RURAL APPRAISAL - University credits: 6
Lessons: 48 hours
Professor:
Frisio Dario Gianfranco
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Professor(s)