Catalogo dei Corsi di studio

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.

Programme

Introduction

Supply and demand, market equilibrium, off equilibrium economies.

Microeconomics

Consumer behaviour
Budget constraints, preferences, utility, choice. Choice with initial endowment. Labour and leisure. Choice under risk.
Theory of the firm
Profit maximization. Choose a production technique. Choosing production in the short and in the long run.
Competitive markets.
Product markets. Input markets.
Competitive equilibrium and welfare.
Non competitive market regimes.
Monopoly, oligopoly, monopolistic competition.

Macroeconomics

Basics of national accounting. Markets for goods and effective demand. The basic Keynesian model. The consumption function and the multiplier. Fiscal policy. The investment function.
Demand for liquidity. Money supply and monetary base.
Markets for goods and financial markets.
The IS-LM model. Monetary and fiscal policy. Macroeconomic equilibrium and economic policy.
Aggregate demand and aggregate supply, the AS-AD model, in perfect competition.

Adopted texts

Suggested textbooks.

For microeconomics:
VARIAN, H: , Microeconomia, Ca’ Foscarina.

For Macroeconomics:

C. DE VINCENTI, E. SALTARI, R. TILLI, Manuale di Economia Politica, Carocci, seconda edizione, 2011, capp. 15 – 20,

or material available on the web, to be announced in class.

Prerequisites

Mathematics I

Exam modes

According to the pandemic situation, the final test might be oral or written. If oral, it will be anticipated by a short written pre-test.
The final test is written, with 4 open questions, two related to theory (micro and macro), and two practical questions (exercises) (micro and macro). Students can also answer an optional question, on a monographic section, which may vary across years (game theory, information theory, etc.).
Each compulsory question is worth 7.5 points.

Exam reservation date start	Exam reservation date end	Exam date
11/02/2021	11/04/2021	13/04/2021
11/02/2021	16/06/2021	23/06/2021
11/02/2021	06/07/2021	13/07/2021
11/02/2021	08/09/2021	15/09/2021
11/02/2021	27/10/2021	03/11/2021
11/02/2021	08/01/2022	10/01/2022
11/02/2021	18/01/2022	20/01/2022

Programme

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/

Adopted texts

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,

Prerequisites

Students must take "Matematica corso base" before.

Frequency modes

Lectures attendance is highly encouraged.

Exam modes

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.

Exam reservation date start	Exam reservation date end	Exam date
24/03/2021	15/04/2021	19/04/2021
21/05/2021	20/06/2021	23/06/2021
24/06/2021	13/07/2021	15/07/2021
25/07/2021	12/09/2021	16/09/2021
14/09/2021	08/10/2021	13/10/2021
15/12/2021	09/01/2022	11/01/2022
13/12/2021	20/01/2022	24/01/2022

Programme

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.

Adopted texts

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

Prerequisites

Basics of Mathematics. Requirements are here: https://web.uniroma1.it/fac_economia/propedeuticita.

Exam modes

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.

Exam reservation date start	Exam reservation date end	Exam date
17/05/2021	20/06/2021	23/06/2021
24/06/2021	10/07/2021	15/07/2021
16/08/2021	11/09/2021	16/09/2021
14/07/2021	08/10/2021	13/10/2021
09/12/2021	09/01/2022	11/01/2022
13/12/2021	20/01/2022	24/01/2022