Fundamentals of Economics

A.Y. 2024/2025
6
Max ECTS
40
Overall hours
SSD
SECS-P/01
Language
Italian
Learning objectives
The course is intended to provide students with a series of technical tools, to enable them to truly understand the socioeconomic aspects of the contemporary world. To this end, the course offers a theoretical introduction to the organisation and functioning of modern economic systems. Since problems in this field need to be examined with a critical eye, the focus will be on the methodological need for some simple, but rigorous tools to analyse reality.
More specifically, the course illustrates the basics of micro- and macroeconomics, to enable students to:
- get to know and understand the principles that guide the choices of economic operators in different types of markets, and the economic rules governing the functioning of a national economy;
- apply this knowledge and understanding to solve simple economic problems;
- analyse, assess and comment the main micro- and macroeconomic phenomena with a critically informed approach;
- hone their communication skills, also with regard to the appropriate subject-specific language, thanks to their informed and active participation to class discussions on the economic topics proposed by the lecturer.
Expected learning outcomes
Knowledge and understanding: students will have to demonstrate that they know and understand the principles that guide the choices of economic operators in different types of markets, and the economic rules governing the functioning of a national economy.
Applying knowledge and understanding: during lectures, students will be presented with some simple and practical economic problems to be solved collectively in class. This will provide them with an opportunity to apply their knowledge and understanding of the topics covered by the course.
Making judgements: the knowledge and understanding acquired by students during the course will enable them to analyse, assess and comment the main micro- and macroeconomic facts, as well as media article and news reports on economic topics, demonstrating a critically informed approach and the ability to make independent judgements.
Communication skills: students will have to hone their communication skills by participating in class discussions on economic issues, adopting an informed approach and an appropriate subject-specific language.
Learning skills: a full command of the contents of this course will help students develop their interdisciplinary learning skills.
Single course

This course can be attended as a single course.

Course syllabus and organization

Single session

Responsible
Lesson period
First 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. The course focuses on the first of the two fundamental nuclei: microeconomics.

Analytical Course syllabus

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);
Prerequisites for admission
Basic skills in mathematics and logic.
Teaching methods
Face to face lessons and individual study.
The course will address different topics of economic science through a mainly descriptive and not very formalized approach with the help of graphs, examples and applications drawn from real world and daily experience.
The first lessons will be dedicated to providing the basic mathematical tools for a complete understanding of the topics covered in the following lectures.
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 microeconomic 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, or withdraw from the exam 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
SECS-P/01 - ECONOMICS - University credits: 6
Lessons: 40 hours