Università degli Studi di Perugia

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Teaching: Institutions of economy

Degree CourseDegree course in Agricultural and Environmental Sciences [L-25] D. M. 270/2004
CurriculumAGRICOLTURA SOSTENIBILE - Regulations 2014
PrerequisitesInformation currently not available - Italian version
Assessment methods

written (open questions) and oral tests

Examinations' grades statistics

average rate: 25,3

Examinations' dates

june 12th 2014 (10 a. m.), june 26th 2014 (10 a. m.), july 16th 2014 (10 a. m.), september 11th 2014 (10 a. m.) september 25th 2014 (10 a. m.), january 14th 2015 (10 a. m.), january 28th 2015 (10 a. m.), february 25th 2015 (10 a. m.)

Recommended optional courses


LecturerFrancesco MUSOTTI
TypeSpecific formative activities
Implementation proceduresConventional
Course content

Introduction to economic science (various definition).

Microeconomic theory of consumption: notion of need, notion of consumption, notion of good, marginal and total utility, indifference curve, budget constraint, consumer equilibrium, income effect and sustitution effect, normal goods and Giffen's goods, Engel's Law.

Theory of production: notion of production, production function, isoquant, types of isoquant, budget constraint of producer, producer equilibrium (long period), total cost, total fixed cost, total variable cost, average total cost, average fixed cost, average variable cost, marginal cost. Marginal and total product (one variable factor), producer equilibrium (short period).

Welfare economics: social optimum of production, social optimum of consumption, optimal mix of production, Pareto's Theorems, public goods, equilibrium of Lindhal-Samuelson, free-raiding problem.

Structures and failures of markets: perfect competiton (web theorem), monopolistic competition, types of ologopoly, monopoly.

Foundations of macroeconomics (national accounting).

Pre-Keynesian school: Say's Law, aggregate labour market, aggregate financial market, GDP, Fisher's equation.

Keynesian revolution: principle of demand effective, income-expenditure model, notion of multipleier, marginal efficency of investment, IS model. Money market, functions of money, money supply, types of money demand, LM model.

IS-LM model.

Aggregate market of labour: Phillips's curve (various versions).

Currently principal school: New Classical Macroeconomics and Neo-Keynesians: Taylor's rule, AD-AS model, market imperfections.

Foundations of international trade


Introduction to economic science (various definition). Microeconomic theory of consumption. Theory of production (short period and long period). Welfare economics (from Paretian point of view and by considering effects of public goods on equilibrium). Structures and failures of markets. Foundations of macroeconomics. Pre-Keynesian thought.Keynesian revolution (principle of demand effective, IS model, LM model). Aggregate market of labour:Phillips's curve (various versions). Currently principal school: New Classical Macroeconomics and Neo-Keynesians.

Foundations of international trade

Mode of delivery

face-to-face lessons and practical training

Recommended reading

"Introduzione all'economia", Edoardo Gaffeo, Luigi Mittone, Roberto Tamborini, Zanichelli

Learning outcomes

Students have to aquire: bases of economic ratio, foundations of consumer behavior, foundations of theory of production, foundationts of equilibrium theory of firm (according to the various forms of market), foundations of past historical and current, main school of macroeconomics (marginalist and Keynesian, New Classical Macroeconomic and Neo-Keynesian) 

Teaching period

march 1st 2015 - 31th may 2015

Teaching calendar

individual support to the students (4 weekly hours at least)

Teaching supportInformation currently not available - Italian version
Teaching languageItalian



Department of Agricultural, Food and Environmental Sciences - Room 3

Individual study
Integration to teaching activity
Francesco MUSOTTI
PeriodII semester
NotesInformation currently not available - Italian version
Consulting hours

Tuesday, 4-6 pm

Wednesday, 4-6 pm 

Friday, 3-5 pm

Consulting location

Dipartimento di scienze economico-estimative e degli alimenti

ECTS code2014 - 1588

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