Università Roma Tre

ECONOMICS IS THE SOCIAL SCIENCE OF CHOICES, WHETHER THAT CHOICE IS MADE BY AN INDIVIDUAL, A FIRM OR A GOVERNMENT. IT IS A SCIENCE IN THAT ECONOMISTS TRY TO EXPLAIN AND RATIONALIZE BEHAVIOR THROUGH MODELS AND
HYPOTHESIS TESTING. IT IS SOCIAL BECAUSE, AT THE END OF THE DAY, INTERACTION BETWEEN ECONOMIC AGENTS IS WHAT
DRIVES THE MOST INTERESTING AND ENGAGING QUESTIONS.
THE CLASS BEGINS WITH THE FOUNDATIONS THAT UNDERLIE ALL OF ECONOMICS. WE THEN DIVIDE AND EXPLORE THE TWO BROAD DIVISIONS WITHIN ECONOMICS:
MICROECONOMICS, WHICH LOOKS AT INDIVIDUAL AGENTS’ BEHAVIORS AND THEIR INTERACTIONS IN MARKETS, AND
MACROECONOMICS, WHICH DEALS WITH BROAD TRENDS OF THE ECONOMY.