Political Economy

Course objectives

General goals The aim of the course is to illustrate the basic concepts of modern economic theory. In the frontal lessons, the exposition of theoretical issues is integrated with the description of the main features of contemporary economies. The first part of the course examines the consumer choice theory and the theory of the firm in order to clarify the forces that determine prices and quantities in the markets. The analysis is based on the study of both the individual choices and interaction among economic agents under different market regimes (perfect competition, monopoly). The second part deals with the functioning of economic systems seen as a whole. The aim is to provide the tools for the analysis and explanation of the evolution of the main macroeconomic variables (GDP, employment, consumption, investment, public budget, rates of interests). Specific goals More in detail, the course aims at allowing the student: A) to develop adequate basic knowledge and understanding in the field of Economics; B) to apply the knowledge and methods acquired to both the construction of lines of arguments and the analysis of complex problems in the field of economics; C) to develop autonomous views concerning economic issues; D) to properly communicate information, concepts, problems, and associated solutions in the field of Economics, even to a non-specialized audience; E) to acquire the knowledge and the learning methods necessary to pursue the study of economic disciplines in the subsequent academic years.

Channel 1
MICHELE DI MAIO Lecturers' profile

Program - Frequency - Exams

Course program
PART I: Microeconomics Introduction to microeconomics. Supply and demand; Consumer behavior. The theory of the firm. The production function. Manufacturing costs. The optimal combination of inputs. Profit maximization in a perfectly competitive market. Monopoly and non-competitive markets. The cases of market failure and government intervention justified. PART II: Macroeconomics Introduction to macroeconomics. The national accounts system; Development, unemployment and inflation: key facts; The basic models to study of short-term macroeconomics: The model income and expenditure; Money, interest and income (the IS-LM model); Monetary and fiscal policy; Variable pricing models and medium-term macro-model: Prices, wages and employment (the AS-AD model); Inflation and unemployment; The macro economy of the European economic and monetary union; Models to study the long term. growth and technological progress; Capital accumulation, savings and technological progress; Neoclassical growth theory and growth accounting.
Prerequisites
Basics of Mathematics. Requirements are here: https://web.uniroma1.it/fac_economia/propedeuticita.
Books
Main textbook "Economia Politica". Custom publishing a cura di Carmelo Parello. McGraw-Hill, ISBN 9781308756721 Alternative textbooks For the Microeconomics part David A. Besanko, Ronald R. Braeutigam. "Microeconomia", 2a edizione. Edizione italiana a cura di Giam Pietro Cipriani e Paolo Coccorese. McGraw-Hill, ISBN: 9788838667220 For the Macroeconomics part Rudiger Dornbusch, Stanley Fischer, Richard Startz. "Macroeconomia", 10a edizione. Edizione italiana a cura di Paolo Pettenati e Giuseppe Canullo McGraw-Hill. ISBN: 9788838666605
Teaching mode
The course is organized in 36 lectures of two hours each. The course will consist of theoretical lectures and numerical exercises. All lectures will be devoted to the development of all the formal parts of the subject, while the numerical exercises will be aimed at reinforcing the theoretical notions learned by the students during the theory lessons. The teaching tools used will be: blackboard and video projector.
Frequency
In person.
Exam mode
The final examination of Economia Politica consists of a written exam and an oral exam under request of the teacher. The exam aims to assess all of the skills and competences acquired by the students through the attendance of the course and the study of the teaching material. Specifically, the paper aims at assessing students’ analytical, computational and contextual skills, as well as their ability to connect the various topics of the syllabus with the economic and financial reality that characterizes the main industrial economies. To pass the exam, students must obtain at least 18 points out of 32. In this case the final mark will be 30/30 cum laude. The oral examination is requested when the content of the written paper and/or any attitude held by the student during the writing of the paper make it very likely the use of plagiarism techniques aimed at passing the exam. The oral exam will focus on the same topics covered by the written exam.
Lesson mode
The course is organized in 36 lectures of two hours each. The course will consist of theoretical lectures and numerical exercises. All lectures will be devoted to the development of all the formal parts of the subject, while the numerical exercises will be aimed at reinforcing the theoretical notions learned by the students during the theory lessons. The teaching tools used will be: blackboard and video projector.
Channel 2
CARMELO PIERPAOLO PARELLO Lecturers' profile

Program - Frequency - Exams

Course program
PART I: Microeconomics Introduction to Microeconomics. Supply and Demand. Consumer Behavior. The theory of the firm. The Production Function . Manufacturing Costs. The Optimal Combination Of Inputs. Profit Maximization In A Perfectly Competitive Market. Monopoly And Non-Competitive Markets. The Cases Of Market Failure And Government Intervention Justified. PART II: Macroeconomics Introduction to Macroeconomics. The National Accounts System; Development, Unemployment and Inflation: Key Facts; The Basic Models to Study Of Short-Term Macroeconomics: The Model Income And Expenditure; Money, Interest And Income (The IS-LM Model); Monetary And Fiscal Policy; Variable Pricing Models And Medium-Term Macro-model: Prices, Wages And Employment (The AS-AD Model); Inflation And Unemployment; The Macro economy of the European Economic And Monetary Union; Models to Study the Long Term. Growth And Technological Progress; Capital Accumulation, Savings And Technological Progress; Neoclassical Growth Theory And Growth Accounting. The detailed syllabus of the course can be downloaded at: https://sites.google.com/a/uniroma1.it/economicamente/ Lecture notes and exercises will be made available on the web page of the course: https://sites.google.com/a/uniroma1.it/economicamente/
Prerequisites
Students must first pass the exam of "Matematica corso base".
Books
Books Reference textbook: "Economia Politica". Custom publishing a cura di Carmelo Parello. McGraw-Hill, ISBN 9781308756721. Other books (alternative reference) Part I: Microeconomics David A. Besanko, Ronald R. Braeutigam. "Microeconomia", 2a edizione. Edizione italiana a cura di Giam Pietro Cipriani e Paolo Coccorese. McGraw-Hill, ISBN: 9788838667220. Part II: Macroeconomics Rudiger Dornbusch, Stanley Fischer, Richard Startz. "Macroeconomia", 10a edizione. Edizione italiana a cura di Paolo Pettenati e Giuseppe Canullo McGraw-Hill. ISBN: 9788838666605,
Teaching mode
The course will consist of theoretical lectures and numerical exercises. All lectures will be devoted to the development of all the formal parts of the subject, while the numerical exercises will be aimed at reinforcing the theoretical notions learned by the students during the theory lessons. The teaching tools used will be: blackboard and video projector.
Frequency
Lectures attendance is highly encouraged.
Exam mode
The final examination of Economia politica consists of a written paper involving three computational exercises and three essay questions, and an oral exam under request of the teacher. Students are given two hours to complete the paper. The paper aims to assess all of the skills and competences acquired by the students through the attendance of the course and the study of the teaching material. Specifically, the paper aims at assessing students’ analytical, computational and contextual skills, as well as their ability to connect the various topics of the syllabus with the economic and financial reality that characterizes the main industrial economies. To pass the exam, students must obtain at least 18 points out of 32. In this case the final mark will be 30/30 cum laude. Yet, the oral examination is requested when the content of the written paper and/or any attitude held by the student during the writing of the paper make it very likely the use of plagiarism techniques aimed at passing the exam. The oral exam will focus on the same topics covered by the written exam.
Lesson mode
The course will consist of theoretical lectures and numerical exercises. All lectures will be devoted to the development of all the formal parts of the subject, while the numerical exercises will be aimed at reinforcing the theoretical notions learned by the students during the theory lessons. The teaching tools used will be: blackboard and video projector.
Channel 3
VALERIO LEONE SCIABOLAZZA Lecturers' profile

Program - Frequency - Exams

Course program
Microeconomics. The market. The theory of the consumer behavior and the demand curve. The theory of the firm and the supply curve. Technology and the costs of production. The theory of perfect competition: the product market. The theory of perfect competition: the factor market. The general economic equilibrium and Pareto optimality. The incomplete markets (hints). Monopoly and monopolistic competition. Oligopoly (hints). Macroeconomis. National accounts and the most important macroeconomic variables. The economic cycle, inflation and unemployment. The effective demand principle. Investments and dinancial markets: the IS curve. Money and bonds: the LM curve. Equilibrium in the short period: the IS-LM Model. Prices and production in the long run: keynesians and neoclassics.
Prerequisites
Basics of Mathematics. Requirements are here: https://web.uniroma1.it/fac_economia/propedeuticita
Books
Carmelo Parello, Economia Politica, Mc Graw Hill Education
Teaching mode
The course will be organized in 36 classess of two hours and 12 practice sessions of one hour each.
Frequency
Attendance is not compulsory but strongly suggested.
Exam mode
The assessment of the students' preparation will be done by a written exam. There will not be mid-term exams.
Bibliography
Additional material available on Classroom.
Lesson mode
The course will be organized in 36 classes of two hours and 12 practice sessions of one hour each.
  • Lesson code1013712
  • Academic year2024/2025
  • CourseBusiness sciences
  • CurriculumGestione d'impresa
  • Year1st year
  • Semester2nd semester
  • SSDSECS-P/01
  • CFU9
  • Subject areaEconomico