Unit ECONOMICS PRINCIPLES
- Course
- Agricultural and environmental sciences
- Study-unit Code
- 80000806
- Curriculum
- Agricoltura sostenibile
- Teacher
- Francesco Musotti
- Teachers
-
- Francesco Musotti
- Paolo Polinori (Codocenza)
- Hours
- 27 ore - Francesco Musotti
- 27 ore (Codocenza) - Paolo Polinori
- CFU
- 6
- Course Regulation
- Coorte 2021
- Offered
- 2022/23
- Learning activities
- Caratterizzante
- Area
- Discipline economiche estimative e giuridiche.
- Academic discipline
- AGR/01
- Type of study-unit
- Obbligatorio (Required)
- Type of learning activities
- Attività formativa monodisciplinare
- Language of instruction
- Italian
- Contents
- Introduction to economic science (various definition). Microeconomic theory of consumption. Theory of production (short period and long period). Structures of market and equilbrium firm models.
Introduction to macroeconomics.
Pre-Keynesian macroeconomics. Keynesian revolution.
Current schools: new classic macroeconomics; new Keynesian macroeconomics - Reference texts
- "Introduzione all'economia", Edoardo Gaffeo - Luigi Mittone - Roberto Tamborini,
Editore Zanichelli. Second edition - Educational objectives
- The course of institutions of economics is conceived to give the students a basic knowledge on the logical framework of economic thought and the conceptual tools useful to understand the principal topics in the field of microeconomics and in agri-food cultural economics. These topics are: consumer theory, production theory (on short period and on long period), market structures and firm position of equilibrium in each type of these structure, Lancaster's consumer theory, joint production, firm position of equilibrium if the agri-food culture is a factor of production and if the output of the firm has a cultural content. In terms of know how the objective of the course is to make students capable to analyze empirically the phenomena of agri-food productions caracterized by food design or by local cultural roots
- Prerequisites
- The prerequisites for the course are the notions of mathematics learned by the students in the high school
- Teaching methods
- Face-to-face lessons and practical training (in room)
- Other information
- None
- Learning verification modality
- The tests of examination are two.
In the light of the targets of knowledge the tests are conceived to evaluate the capability of students in descriptive and analytical short expositions and geometrical and mathematical estimations on fundamental topics of microeconomics (first test) and of agri-food culture economics (second test).
The two tests are in written form.
The two tests are in the same day.
Each test takes two hours.
Each test is based on closed questions and open replies.
The two tests have the same share in the examination - Extended program
- 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