Unit ECONOMIC PRINCIPLES
- Course
- Economics and culture of human nutrition
- Study-unit Code
- GP000461
- Curriculum
- In all curricula
- Teacher
- Francesco Musotti
- Teachers
-
- Francesco Musotti
- Paolo Polinori (Codocenza)
- Hours
- 27 ore - Francesco Musotti
- 27 ore (Codocenza) - Paolo Polinori
- CFU
- 6
- Course Regulation
- Coorte 2022
- Offered
- 2022/23
- Learning activities
- Caratterizzante
- Area
- Discipline economiche 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 and conceptual tools for understanding the principal topics in the field of microeconomics and macroeconomics.
These topics are:
theory of consumer behaviour; theory on producer behaviour (on short period and on long period); structures of market and equilibrium of firms (on short period).
Basic understanding of mechanism regulating the principal macroeconomic variables: GDP, employment, inflation, public expenditure, Export and import - Prerequisites
- The prerequisites for the course are the notions of mathematics learned by the students in the high school
- Teaching methods
- Face-to-face 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).
Structures of market and equilibrium of firms: perfect competiton (web theorem), monopolistic competition, types of oligopoly, monopoly.
Introduction to macroeconomics.
Pre-keynesian macroeconomics:
Say's Law; aggregated market od capital; aggregated market of labour; individuation of equilibrium GDP.
Keynesian revolution: income-expenditure model; autonomous and non autonomous components ao aggregate demand; multiplier principle;
I-S model; functions of money; types of demand of money; liquidity trap; L-M model. from I-S and L-M model to AD-AS model. New classical macroeconomics: aggregated demand and aggregated supply; potential income; natural rate of interest and natural rate of unemployment. New keynesian macroeconomics: new version of I-S model; Taylor's rule; Phillips curve: effects of incorrect expectations (nominal deviations) and imperfections of markets (real deviations)