Fundamentals of Economics
A.Y. 2023/2024
Learning objectives
The aim of this course is to introduce the fundamentals of micro and macroeconomic theory through theoretical and practical lectures. The first part of the course is devoted to the analysis of the choices of economic agents and of the main market structures. The second part is devoted to the study of the functioning of the economy as a whole. In particular, this part will deal with the main elements of national accounting and of financial and monetary economics in a closed economy.
Expected learning outcomes
By the end of the course students will be able to: (1) autonomously analyse and critically understand microeconomic phenomena, such as consumption and production choices in different institutional settings, as well as macroeconomic ones, such as inflation, unemployment, and growth of GDP in time; (2) understand the maximizing rationale of economic agents; (3) assess the impact of economic policies in the economy..
Lesson period: Second trimester
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 trimester
Course syllabus
The first part of the course is devoted to Microeconomics and focuses on:
· Consumer theory: budget constraint; preferences; utility; choice; demand; revealed preference; Slutsky equation; buying and selling; intertemporal choice; uncertainty; consumer's surplus; market demand; equilibrium.
· Producer theory: technology; profit maximization; cost minimization; cost curves.
· Market environments: competition; monopoly; oligopoly.
· Interactions: game theory; exchange.
The second part of the course is devoted to Macroeconomics and focuses on:
· The goods market; financial markets; the IS-LM model.
· The labor market; the Phillips curve, unemployment and inflation; the IS-LM-PC model.
· Consumer theory: budget constraint; preferences; utility; choice; demand; revealed preference; Slutsky equation; buying and selling; intertemporal choice; uncertainty; consumer's surplus; market demand; equilibrium.
· Producer theory: technology; profit maximization; cost minimization; cost curves.
· Market environments: competition; monopoly; oligopoly.
· Interactions: game theory; exchange.
The second part of the course is devoted to Macroeconomics and focuses on:
· The goods market; financial markets; the IS-LM model.
· The labor market; the Phillips curve, unemployment and inflation; the IS-LM-PC model.
Prerequisites for admission
None
Teaching methods
Lectures and tutorials.
Teaching Resources
· "Microeconomia", H.R. Varian, Libreria Editrice Cafoscarina, 2012.
· "Scoprire la macroeconomia - Quello che non si può non sapere", O. Blanchard, A. Amighini, F. Giavazzi, Il Mulino, 2021.
· "Scoprire la macroeconomia - Quello che non si può non sapere", O. Blanchard, A. Amighini, F. Giavazzi, Il Mulino, 2021.
Assessment methods and Criteria
The final assessment is based on a written exam at the end of the course, which will focus on the material presented and discussed in lectures.
Students can gain extra points through active participation during lectures.
Students can gain extra points through active participation during lectures.
SECS-P/01 - ECONOMICS - University credits: 12
Lessons: 80 hours
Professors:
Bono Giovanni, Meroni Claudia
Educational website(s)
Professor(s)
Reception:
Wednesday 9:00-12:00 or by appointment (please confirm via email)
MS Teams