Università Roma Tre

After a brief introduction on the object of anaysis economics, the course is divided into two parts. The first deals with the study of the fundamentals of microeconomics, the second of the fundamentals of macroeconomics.

INTRODUCTION
The principles of economics
The methodology of economic analysis: models and data
Causation and correlation

MICROECONOMICS
The principle of optimization
The model of demand and supply
Consumers and incentives
Consumer surplus and demand elasticity
Companies in a competitive market
Producer surplus and supply elasticity
Perfect competition and efficiency
Externalities and public goods
The role of the State: taxes and regulation
Labour demand
Firms in monopoly
Introduction to game theory and oligopoly

MACROECONOMICS
Macroeconomic aggregates
GDP and other measures of the welfare of nations
The determinants of economic growth: from the Solow model to the theory of endogenous growth
Employment and unemployment
The monetary and credit system
Short-term economic fluctuations: the model of aggregate demand and supply
The determinants of aggregate demand in a closed economy and an open economy: from the Keynesian cross to the IS-LM model

Daron Acemoglu, David Laibson and John A. List
Economics
Pearson
ISBN 9780321391582

Ernesto Lorenzo Felli
Introduzione alla macroeconomia
Giappichelli editore
ISBN 9788834899526

THE COURSE CONSISTS OF TWO PARTS.

MICROECONOMICS
ECONOMICS AS THE STUDY OF DECISIONS IN THE PRESENCE OF SCARCITY
MARKET DEMAND AND SUPPLY, EQUILIBRIUM PRICE
CONSUMER DECISION MAKING, MARGINAL UTILITY MAXIMIZATION, INDIVIDUAL AND MARKET DEMAND FUNCTION
PRODUCTION IN THE SHORT AND IN THE LONG RUN, PRODUCTION COSTS
PROFIT MAXIMIZATION, MARGINAL EQUALITY BETWEEN COSTS AND REVENUES
PERFECT COMPETITION, PRODUCTION SUPPLY BY A FIRM, FIRM AND MARKET SUPPLY FUNCTION, MARKET EQUILIBRIUM IN THE SHORT AND IN THE LONG RUN
MONOPOLY AND IMPERFECT COMPETITION
ECONOMIC EFFICIENCY AND EQUITY. THE ECONOMIC ROLE OF STATE, INCOME DISTRIBUTION, PUBLIC GOODS, EXTERNALITIES
ECONOMIC THEORY OF PROPERTY LAW. THEOREM OF COASE

MACROECONOMICS
THE SUBJECT AND METHODOLOGY OF MACROECONOMICS, AGGREGATION
GDP DEFINITION: THREE APPROACHES
AGGREGATE EXPENDITURE AND ECONOMIC FLUCTUATIONS, CONSUMPTION FUNCTION, EQUILIBRIUM GDP, EXPENDITURE MULTIPLIER
MONEY, CENTRAL BANK, MONEY MARKET, THE MONETARY POLICY REACTIONS TO FINANCIAL AND REAL SHOCKS
IS-LM MODEL. AGGREGATE DEMAND AND SUPPLY. THE SHORT-RUN EQUILIBRIUM OF PRICES AND OUTPUT. THE LONG-RUN ADJUSTMENT TO DEMAND AND SUPPLY SHOCKS. THE AGGREGATE SUPPLY SCHEDULE IN THE LONG-RUN
ECONOMIC GROWTH, THE ACCUMULATION OF PRODUCTIVE FACTORS, TECHNOLOGICAL PROGRESS
EXCHANGE RATE AND FOREIGN TRADE.

ADDITIONAL INFORMATION
THE PART OF THE COURSE ON ECONOMIC ANALYSIS OF LAW IS NOT INCLUDED IN THE SYLLABUS OF THE STUDENTS ENROLLED IN SCIENZE DEI SERVIZI GIURIDICI, WHOSE ECONOMICS COURSE SHOULD CONSIST OF 9 CFU

THE TEXTBOOK IS:
David Begg, Gianluigi Vernasca, Stanley Fischer, Rudiger Dornbusch, Economia. Sesta edizione; Collana Create; McGraw-Hill Education; 2020. ISBN 978-13-075-3407-8.

The slides presented during classes, a detailed syllabus, the past exam sheets are uploaded on the learning platform of department, called E-learning. Please, find the link on the department site.

COURSE
Microeconomics: APPROACH economist; SHORTAGE AND EFFICIENCY, DEMAND AND
OFFER; EFFICIENT MARKETS AND REGULATION; CONSUMPTION, PRODUCTION AND COSTS; BUSINESS
AND MARKETS PERFECT COMPETITION, monopoly, oligopoly, monopolistic competition;
Public goods and externalities.
Macroeconomics: NATIONAL ACCOUNTS; GROWTH; CYCLE; DISEASES MACROECONOMIC
(UNDERDEVELOPMENT, INFLATION, UNEMPLOYMENT), ECONOMIC POLICIES, Macroeconomics
OF OPEN SYSTEMS.
PREREQUISITES
NO FORMAL REQUIREMENT, THE BEST BUT THE POSSESSION OF BASIC ALGEBRA
AND GEOMETRY.
REVIEW
DURING THE FIRST HALF OF TEACHING ARE MADE TWO INTERMEDIATE TESTS WHICH ARE
ELEMENT EVALUATION FOR THE FINAL EXAM. The FINAL EXAM IS MADE UP OF A
WRITTEN TEST AND A HEARING IN SEQUENCE.

BEGG D., FISHER S., DORNBUSCH R., ECONOMIA, MCGRAW HILL, MILANO, Last Ed.

FELLI E., INTRODUZIONE ALLA MACROECONOMIA, GIAPPICHELLI, TORINO, Last Ed. EXCLUDED THE LATEST CHAPTER.