Essentials of Economics
A.Y. 2024/2025
Learning objectives
The aim of the course is to introduce the student to the basic concepts of economic analysis: the study of the determinants of economic decisions of individuals and organizations. The main topics are the study of decisions of consumption, production and exchange of economic goods and the study of market mechanisms and price fixing, the analysis of production factors and competitiveness with particular reference to companies operating in mountain areas.
Expected learning outcomes
Knowledge of economic language, method and fundamentals of economics; ability to understand articles, essays and discussions concerning economic issues. Knowledge of the main characteristics of mountain agricultural systems and their critical issues. The use of basic accounting tools for the evaluation of business profitability and for business management.
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
Introduction:
Object and method of economic science; definition of needs and goods, the line of production possibilities. 1CFU.
Elements of Microeconomics
Supply and demand of goods, pricing, market equilibrium. - Demand theory: marginal utility, indifference curves, budget line and consumer optimum; derivation of the demand curve with respect to price and income. - Definition and measurement methods of demand elasticity. - Free Markets; markets with controlled prices: setting of maximum and minimum prices. 2CFU.
Production theory: production function, factors of production, law of decreasing returns, isoquants and isocost of production, economies of scale. - Supply theory: production costs (definition and interrelationships), fixed and variable costs, firm and market supply curve, supply elasticity. - Revenues and profit maximization. 2CFU.
Notes on investment theory - Balance and market forms: perfect competition, monopoly, oligopoly, monopolistic competition. - Microeconomics applications: agricultural markets and innovation. - Market failures and public intervention 1CFU.
Object and method of economic science; definition of needs and goods, the line of production possibilities. 1CFU.
Elements of Microeconomics
Supply and demand of goods, pricing, market equilibrium. - Demand theory: marginal utility, indifference curves, budget line and consumer optimum; derivation of the demand curve with respect to price and income. - Definition and measurement methods of demand elasticity. - Free Markets; markets with controlled prices: setting of maximum and minimum prices. 2CFU.
Production theory: production function, factors of production, law of decreasing returns, isoquants and isocost of production, economies of scale. - Supply theory: production costs (definition and interrelationships), fixed and variable costs, firm and market supply curve, supply elasticity. - Revenues and profit maximization. 2CFU.
Notes on investment theory - Balance and market forms: perfect competition, monopoly, oligopoly, monopolistic competition. - Microeconomics applications: agricultural markets and innovation. - Market failures and public intervention 1CFU.
Prerequisites for admission
no special prerequisites are necessary.
Teaching methods
The teaching method involves lectures and classroom exercises
Teaching Resources
Slides and other teaching materials provided by the teacher are available on the Ariel website.
Recommended texts:
Sloman J., Elementi di economia, Il Mulino. Paul A. Samuelson et al., Economia, Mc Graw Hill, N. Gregory Mankiw, Mark P. Taylor, Principi di Economia, Zanichelli. Vitale A., Ferrazzi G., Mendolia F., N.Briola, Manuale di economia, gestione e legislazione delle imprese di ristorazione,2023 ed. Franco Angeli;
Recommended texts:
Sloman J., Elementi di economia, Il Mulino. Paul A. Samuelson et al., Economia, Mc Graw Hill, N. Gregory Mankiw, Mark P. Taylor, Principi di Economia, Zanichelli. Vitale A., Ferrazzi G., Mendolia F., N.Briola, Manuale di economia, gestione e legislazione delle imprese di ristorazione,2023 ed. Franco Angeli;
Assessment methods and Criteria
The assessment of the actual achievement of the expected learning outcomes by the student is done through an oral exam and involves answering open questions on the topics covered during the course. The knowledge of the topics covered in class, the use of correct technical-economic language will be assessed. The evaluation criteria will also consider the ability to organize knowledge discursively; capacity of critical reasoning and the quality of exposure. The result is communicated directly to the student at the end of the test and the evaluation is expressed in thirtieths. There are no differences of exam between attending and non-attending students.
Students with SLD or disability certifications are kindly requested to contact the teacher at least 15 days before the date of the exam session to agree on individual exam requirements. In the email please make sure to add in cc the competent offices: [email protected] (for students with SLD) o [email protected] (for students with disability).
Students with SLD or disability certifications are kindly requested to contact the teacher at least 15 days before the date of the exam session to agree on individual exam requirements. In the email please make sure to add in cc the competent offices: [email protected] (for students with SLD) o [email protected] (for students with disability).
AGR/01 - AGRICULTURAL ECONOMICS AND RURAL APPRAISAL - University credits: 6
Practicals: 16 hours
Lessons: 40 hours
Lessons: 40 hours
Professor:
Ferrazzi Giovanni
Shifts:
Turno
Professor:
Ferrazzi GiovanniProfessor(s)
Reception:
Please send an e-mail to make an appointment.
Dipartimento di Scienze e Politiche Ambientali (via Celoria, 2)