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

The course unfolds in two parts.

Part One - Microeconomics
1. Introduction to Microeconomics. Demand, supply and market equilibrium.
2. Consumer choice theory. Preferences, utility and demand theory: price effect, income effect and substitution effect; individual demand functions; aggregate demand functions.
3. The theory of firms’ behaviour: production possibilities, cost minimization and cost curves. Profit maximization and the firm’s supply under perfect competition.
4. Industry supply in the short and long run under perfect competition. Market equilibrium under perfect competition. Non-competitive market regimes.
5. Further topics in Microeconomics.

Part Two - Macroeconomics
1. Introduction to Macroeconomics.
2. The foundations of national economic accounts.
3. The commodity markets in the income-expenditure model.
4. The IS-LM model.
5. The AD-AS model.
6. Inflation and unemployment.
7. Further topics in Macroeconomics.

Adopted texts

Recommended textbooks
- Part One: H. R. Varian , “Microeconomia”, Cafoscarina, fifth edition.
- Part Two: C. De Vincenti, “Macroeconomia. Elementi di base”, Carocci, 6th reprint, 2007. For this part of the course the student will also have to solve the 'Esercizi di Macroeconomia' downloadable from Prof. Ravagnani’s page in the website of the Department of Economics and Law: https://sites.google.com/a/uniroma1.it/fabioravagnani/

Prerequisites

'Matematica corso base' (first year, first semester) is propedeutic to this course. No further prerequisite is required.

Study modes

72 hours of frontal lessons which introduce the basic principles of modern economic theory, both micro and macro, and illustrate their empirical relevance

Frequency modes

Attending lessons is recommended but not mandatory

Exam modes

The exam aims at assessing the knowledge acquired with regard to the topics covered during the course, as well as the reasoning capability of the student. The exam will consist of a 90 minute written test, composed of three open questions concerning aspects of microeconomic and macroeconomic theory and, moreover, of two numerical exercises, one referred to microeconomic theory and the other referred to macroeconomic theory, based on the exercises recommended in the program of the exam. For each of the three open questions, and for each of the two numerical exercises, up to 6 points will be assigned.

Exam reservation date start	Exam reservation date end	Exam date
18/03/2023	01/05/2023	11/05/2023
24/05/2023	17/06/2023	27/06/2023
15/06/2023	08/07/2023	18/07/2023
20/07/2023	03/09/2023	13/09/2023
15/09/2023	07/10/2023	17/10/2023
05/12/2023	29/12/2023	09/01/2024
20/12/2023	12/01/2024	22/01/2024

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 first pass the exam of "Matematica corso base".

Study modes

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 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.

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.

Study modes

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 modes

In class.

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
24/09/2022	10/04/2023	18/04/2023
24/09/2022	16/06/2023	27/06/2023
24/09/2022	10/07/2023	17/07/2023
24/09/2022	07/09/2023	15/09/2023
24/09/2022	01/10/2023	12/10/2023
24/09/2022	03/01/2024	10/01/2024
24/09/2022	11/01/2024	18/01/2024