Ateneo - UPO

Rationality and economics
Consumers, workers and firms
The State and the Market
Different types of market structures
Market failures
Macroeconomics – the main concepts

“Economia e Scienze Economiche”, handouts by M. Novarese (2017)”
This material can be downloaded from the DIR web-site of the course.

Understand the main basic economic concepts;
apply the main basic economic concepts to the analysis of reality; develop critical reasoning skills and understand the scientific method.

none

classroom teaching, classroom exercises, online exercises

Attendance is recommended but not compulsory

Students with physical disabilities, Learning Disabilities or Special Education Needs can request specific services and tools via the Staff Sviluppo e Coordinamento Carriere e Servizi alle Studentesse e agli Studenti, consulting the University webpage: https://www.uniupo.it/en/services/servicesstudents-physical-or-learning-disabilities Students with disabilities, learning disabilities or special education needs, once they have contacted the University Staff, can refer to the tutor in charge of the course to define the examination modalities, concerning academic aspects.

The exam is based on a computer test. The exam is conducted using the Moodle platform; to take it, you must remember your credentials (make sure you can access the computers and Moodle before the exam; those who cannot log in will not be able to take the exam). On the course page, there are exercises and practice tests that must be completed to take the exam.

General enrollment rules for the degree program apply to exam registration.

The exam assesses the knowledge acquired and the ability to reason using basic concepts. Some exercises are designed to test simple memorization of basic definitions; other exercises involve applications with reasoning; it is also important to use and understand the correct language and grasp nuances. The required reasoning involves the ability to apply models and definitions to reality or to deduce results given the models covered in the course.

Economic reasoning and tools of economic analysis;
Models and reality;
Adam Smith and the birth of economics;
Different approaches to Economic Science;
The neoclassical approach;
Rationality and behavioral economics;
Consumption;
The firm, production, and supply;
Markets: perfect competition, monopolistic competition, monopoly, oligopoly;
Factor markets: labor and capital;
The market and the state;
Market limitations;
Information economics;
GDP;
National accounting;
Money;
Inflation;
Aggregate demand and supply;
Competitive advantage and international trade;
Employment and unemployment;
The economic cycle;
Economic growth;
Market failures;
Technological innovation;
Economic growth.

Identify the difference between models and reality; understand the functioning of the scientific method in social sciences; introduce the main research streams in economic science; encourage reasoning using economic concepts (apply cost-benefit analysis to everyday problems and understand its meaning and limitations, develop a critical approach to problem analysis); understand the effect of market forms on prices and quantities; be able to reason about human motivations; understand the difference between market forms and between markets and organizations; understand the issues related to informational asymmetries and the dispersion of knowledge; understand the difference between various types of goods