Servizi per la didattica
PORTALE DELLA DIDATTICA

Economics

05OIYPH

A.A. 2019/20

Course Language

English

Course degree

Master of science-level of the Bologna process in Engineering And Management - Torino

Course structure
Teaching Hours
Lezioni 40
Esercitazioni in aula 40
Teachers
Teacher Status SSD h.Les h.Ex h.Lab h.Tut Years teaching
D'Ambrosio Anna   Ricercatore L240/10 SECS-P/06 40 0 0 0 1
Teaching assistant
Espandi

Context
SSD CFU Activities Area context
ING-IND/35
SECS-P/06
4
4
B - Caratterizzanti
F - Altre (art. 10, comma 1, lettera f)
Ingegneria gestionale
Altre conoscenze utili per l'inserimento nel mondo del lavoro
2019/20
The course is intended to present the most relevant economic theories in order to allow students to learn the economic reasoning necessary to understand how the economic system and the markets work. After a description of the main macroeconomic problems and the tools necessary to understand the structure of an aggregate economic system, the two most important theories about the functioning of an economic system will be presented. The first one is the neo-classical school, which represents the micro-foundation of the mainstream macroeconomic theory whereas the second one is the Keynesian one. Both theories focus on how resources are allocated in the short run. The last part of the course will deal with open macro-economics, i.e. the equilibrium of an aggregate economic system open to exchanges in goods, services and capitals with the rest of the world. The specific goals of the course are to provide the students with: 1. the knowledge of the main economic theories on the functioning of an aggregate economic system; 2. the ability to critically interpret the news about the economic conditions of a country and of the rest of the world.
The course is intended to present the most relevant economic theories in order to allow students to learn the economic reasoning necessary to understand how the economic system and the markets work. After a description of the main macroeconomic problems and the tools necessary to understand the structure of an aggregate economic system, the two most important theories about the functioning of an economic system will be presented. The first one is the neo-classical school, which represents the micro-foundation of the mainstream macroeconomic theory whereas the second one is the Keynesian one. Both theories focus on how resources are allocated in the short run. The last part of the course will deal with open macro-economics, i.e. the equilibrium of an aggregate economic system open to exchanges in goods, services and capitals with the rest of the world. The specific goals of the course are to provide the students with: 1. the knowledge of the main economic theories on the functioning of an aggregate economic system; 2. the ability to critically interpret the news about the economic conditions of a country and of the rest of the world.
Students will learn basic economic concepts. They will also learn how to apply economic theory to analyze the economic conditions of a country and the scope for public policy in the forms of monetary and fiscal policies.
Students will learn basic economic concepts. They will also learn how to apply economic theory to analyze the economic conditions of a country and the scope for public policy in the forms of monetary and fiscal policies.
Basic knowledge of maths and calculus.
Basic knowledge of maths and calculus.
The course is divided into three parts: the first part is devoted to national accounts and the analysis of the economic system; the second one deals with basic microeconomics, and in particular consumer theory, firm behavior and market functioning (perfect competition and monopoly). The third part deals with macroeconomics and the open economy. The detailed syllabus is the following: First part. National Accounting: (10 hours) 1. Problems and definitions of political economy; 2. National accounts; 3. Modeling the economic system; Second part. Modern microeconomics: (40 hours) 4. The economic system and its functional operators: households (consumption, savings, and supply of labor); 5. The economic system and its functional operators: firms (production, investments, and demand for labour) 6. Market analysis: perfect competition and monopoly; Third part. Modern macroeconomics: (30 hours) 7. The financial market and the demand and supply of money; 8. From neoclassical microeconomics to the full employment macroeconomics: the labor market, the theories on the interest rates, the role of economic policy; 9. Unemployment in Keynesian macroeconomics: the IS-LM and AD-AS models 10. Open economy: the Balance of Payments, the internal and external equilibrium with fixed and flexible exchange rates.
The course is divided into three parts: the first part is devoted to national accounts and the analysis of the economic system; the second one deals with basic microeconomics, and in particular consumer theory, firm behavior and market functioning (perfect competition and monopoly). The third part deals with macroeconomics and the open economy. The detailed syllabus is the following: First part. National Accounting: (10 hours) 1. Problems and definitions of political economy; 2. National accounts; 3. Modeling the economic system; Second part. Modern microeconomics: (40 hours) 4. The economic system and its functional operators: households (consumption, savings, and supply of labor); 5. The economic system and its functional operators: firms (production, investments, and demand for labour) 6. Market analysis: perfect competition and monopoly; Third part. Modern macroeconomics: (30 hours) 7. The financial market and the demand and supply of money; 8. From neoclassical microeconomics to the full employment macroeconomics: the labor market, the theories on the interest rates, the role of economic policy; 9. Unemployment in Keynesian macroeconomics: the IS-LM and AD-AS models 10. Open economy: the Balance of Payments, the internal and external equilibrium with fixed and flexible exchange rates.
The course is organized into lectures and exercise sessions. Moreover, real case phenomena and case studies will also be presented in class within the lectures.
The course is organized into lectures and exercise sessions. Moreover, real case phenomena and case studies will also be presented in class within the lectures.
- Course slides - Besanko & Braeutigam: Microeconomics, 4th ed., 2011, Pearson - Blanchard: Macroeconomics, 6th ed., 2012, Prentice Hall
- Course slides - Besanko & Braeutigam: Microeconomics, 4th ed., 2011, Pearson - Blanchard: Macroeconomics, 6th ed., 2012, Prentice Hall
ModalitÓ di esame: prova scritta;
- The exam is written, it lasts 2 hours and it consists of three questions. - It is permitted to use one calculator and writing material. - Paper will be provided. The consultation or use of any kind of material during the exam is strictly forbidden. - Any form of communication is strictly forbidden, as well as the use of any electronic device other than the calculator.
Exam: written test;
- The exam is written, it lasts 2 hours and it consists of three questions. - It is permitted to use one calculator and writing material. - Paper will be provided. The consultation or use of any kind of material during the exam is strictly forbidden. - Any form of communication is strictly forbidden, as well as the use of any electronic device other than the calculator.


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