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Microeconomics The market mechanism; market supply and demand; equilibrium price and quantity. The theory of demand; consumer equilibrium; the income-consumption curve; the price-consumption line; the individual demand curve; the market demand curve; elasticity. Supply theory; the firm; the production function; production costs. Characteristics of the competitive market; the maximum profit condition of the firm; definition of the individual firm and market supply curve. Non-competitive markets and general properties of the average and marginal revenue curves. Monopoly; the monopolist equilibrium; oligopolistic markets; Cournot's duopoly; Sweezy's model; monopolistic competition. Factor markets. Macroeconomics Macroeconomic variables, national accounts balance between saving and investment. Fixed price macroeconomics: the goods market, equilibrium income and multiplier theory. The three sectors of the real macroeconomic system: the private sector, the public sector and the foreign sector. The money market. Money supply, money demand, and monetary equilibrium. Investment decisions and the role of the interest rate. The IS-LM model. Effectiveness of fiscal and monetary policies. Labour market. Macroeconomic equilibrium with flexible prices. The AD-AS model. Balance of payments and exchange rates.

Knowledge of Italian language and elementary algebra slills No propaedeutic exams

- Sloman J., A. Wride, D. Garrat (2020). Microeconomia, Pearson. Sono da studiare i capitoli: 1, 2 (escluso § 2.5 ), 4 (esclusi §§ 4.2, 4.3 ), 6, 7 (escluso § 7.4 ), 8 (escluso § 8.3), 10 (esclusi §§ 10.2, 10.3, 10.4) - Dornbusch R., S. Fischer, R. Startz (2023). Macroeconomia, McGraw Hill. Sono da studiare i capitoli: 1, 2, 3 (escluso § 3.4), 4 (escluso § 4.6), 5, 6, 8 (escluso § 8.3), 9 (esclusi §§ 9.3, 9.4, 9.5, 9.6, 9.7, 9.8), 13 (esclusi §§ 13.6.3, 13.6.4). Si consiglia la lettura del capitolo 7 (esclusi §§ 7.5, 7.6). I riquadri di approfondimento/applicazione, le appendici e le formalizzazioni matematiche sono escluse. In alternativa al Dornbusch R., S. Fischer, R. Startz (2023). Macroeconomia, McGraw Hill: - Imbriani C., A. Lopes (2016). Macroeconomia, un’introduzione. Mercati, Istituzioni Finanziarie e Politiche, UTET, 2016. Sono da studiare i capitoli 1, 2, 3, 4, 5, 6, 8 (fino al § 8.5 incluso) e 9. I riquadri di approfondimento sono esclusi.

Course attendance is strongly recommended

The assessment of learning is based on passing a written test comprising open-ended questions supported by graphical analysis. The oral discussion may be requested by the lecturer to better evaluate the results of the written test or by the student to improve the results, if in any case the written test has been passed. For attending students, two intermediate tests are scheduled, with the same structure as the written exam (open questions with graphic analysis); passing both intermediate tests is equivalent to passing the final test. Overall, each test is intended to verify the acquisition of the entire set of competences envisaged by the training objectives described above.

Microeconomics The market mechanism; market demand and supply; price and quantity equilibrium. Demand theory; consumer equilibrium; the income-consumption curve; the price-consumption line; individual demand curve; market demand curve; elasticity. Supply theory; the firm; production function; production costs. Characteristics of competitive markets; profit maximization condition of the firm; definition of the supply curve for an individual firm and the market. Non-competitive markets and general properties of average and marginal revenue curves. Monopoly; monopoly equilibrium; oligopolistic markets; Cournot's duopoly; Sweezy's model; monopolistic competition. Factor markets. Macroeconomics Macroeconomic variables, national accounting, balance between saving and investment. Macroeconomics at fixed prices: goods market, equilibrium income, and multiplier theory. The three sectors of the real macroeconomic system: private sector, public sector, and foreign sector. Money market. Money supply, money demand, and monetary equilibrium. Investment decisions and the role of interest rates. The IS-LM model. Effectiveness of fiscal and monetary policies. Labor market. Macroeconomic equilibrium with flexible prices. The AD-AS model. Balance of payments and exchange rates.

The course does not require any specific prerequisites, but the active participation of the students is strongly recommended.

Microeconomics: - Sloman J., D. Garratt, J. Guest (2021). Microeconomia, Pearson - 10 ed. Chapters to study: 1, 2 (excluding § 2.5), 4 (excluding §§ 4.2), 6 (excluding § 6.4),, 7 (excluding § 7.4), 8 (excluding § 8.3), 10 (excluding §§ 10.2, 10.3, 10.4). Macroeconomics: - Dornbusch R., S. Fischer, R. Startz, et al. (2024). Macroeconomia, 13/Ed., McGraw Hill. Chapters to study: 1, 2, 3 (excluding § 3.4), 4 (excluding § 4.6), 5, 6, 8 (excluding § 8.3), 9 (excluding §§ 9.3, 9.4, 9.5, 9.6, 9.7, 9.8), 13 (excluding §§ 13.6.3, 13.6.4). Reading Chapter 7 is recommended (excluding §§ 7.5, 7.6). In-depth analysis boxes, and mathematical formalizations are excluded. Additional readings may be suggested during lectures. Alternatively, instead of Dornbusch R., S. Fischer, R. Startz, et al. (2024). Macroeconomia, 13/Ed., McGraw Hill: - Imbriani C., A. Lopes (2016). Macroeconomia, un’introduzione. Mercati, Istituzioni Finanziarie e Politiche, UTET, 2016. Chapters to study: 1, 2, 3, 4, 5, 6, 8 (up to and including § 8.5), and 9. In-depth analysis boxes, and mathematical formalizations are excluded.

The final exam is based on a written test and an oral examination. The written test consists of 4 questions that require graphical representations. For the evaluation of the written test, each question can earn a maximum of 8 points. The oral examination usually takes place on the same day as the written test. For attending students: two midterm assessments are planned, with the same structure as the final exam (open-ended questions with graphical analysis). Passing both midterms is equivalent to passing the final exam. The oral examination may be requested by the instructor to better evaluate the results of the written test or by the student to improve the results obtained in the midterms. Overall, each assessment aims to verify the acquisition of the entire set of skills outlined in the above-described learning objectives.

Textbook and lectures supplemented by exercises, economic experiments, and collective class discussions.