The course aims at introducing students to key concepts of economic theory. Particular attention is paid to the economic analysis of laws and institutions.

Knowledge and understanding: At the end of the course, students will acquire full knowledge of the main micro and macroeconomic models and will be able to understand the functioning of the market supply and demand, the price formation, the consumer choice, the firm’s theory, the different markets; the main economic aggregates as well as aims and effects of economic policies. The acquisition of this knowledge will be ascertained through a final oral exam. Applying knowledge and understanding: After acquiring tools, methods, and an appropriate economic jargon, students will be able to critically interpret the main economic phenomena and apply acquired models to the debate on the functioning of economic systems. Making judgements: By using the models studied during the course, students will be able to make their own critical assessment on the functioning of modern market economies and will be able to discuss independently the decisions of economic agents and the effects of economic policies by identifying the appropriate solutions to real cases. Communication skills: At the end of the course students will be able to properly use the economic language, adapting it to different contexts. By participating in the different course’s activities (e.g. lectures, oral exams), students will be able to exploit the acquired communication skills. Learning skills: The economic knowledge acquired during the course will allow students to independently understand and interpret the functioning of economic systems. Students will develop a solid knowledge of economics concepts that will allow them to deepen independently the micro and macroeconomic models learned during the course.

Supply and demand • Markets mechanisms • Competition, antitrust and market power • The role of the State • Labour market • Income, growth and Institutions • Economic fluctuations and stabilization of the cycle • Inflation and unemployment • Money and Financial Markets

MICROECONOMICS Text book: Boccella, N., Imbriani, C., & Morone, P. (2014). Analisi microeconomica e scelte pubbliche. LED. Please exclude chapter 6, paragraph 11.4 as well as chapters 12, 13 and 14. All boxes are excluded. Link: https://tinyurl.com/cnfvpssx or: Sloman, J., & Garratt, D. (2018). microeconomia (Quinta ed.). Il Mulino. Chs. 1, 2, 3, 4, 5. Link1: https://tinyurl.com/429as8ur Link2: https://tinyurl.com/pzd5z7hk MACROECONOMICS Text book: Imbriani, C., & Lopes, A. (2016). Macroeconomia, un'introduzione: Mercati, istituzioni finanziarie e politiche. UTET Università. Chs. 1, 2, 3, 4, 5, 6, 8 (until 8.5 included) and 9. Please exclude all boxes with the exception of B6 and C3. Link: https://tinyurl.com/8z8fy9re

Lectures Classes

The final examination (only oral) will cover all topics included in the course programme. During the exams, students must demonstrate their knowledge of the micro- and macroeconomic models analysed in the course and their ability to represent them graphically. Students must also demonstrate to correctly use the economic vocabulary and to have acquired the necessary study method and learning ability. The examiniation mark will take into account the student's ability to orally answer the questions (65%) and to graphically represent the economic models analysed (35%). The failure to achieve at least the score of 18/30 in microeconomics or macroeconomics will result in failure to pass the exam.

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