MODULE OF SECS-P/01
Knowledge and understanding: the student must demonstrate knowledge and understanding of the fundamental characteristics of supply and demand that regulate the market equilibrium and its structures. The student must also demonstrate understanding of the failures that characterize the competitive markets and the aim and scope for public intervention.
Applying knowledge and understanding: at the end of the course the student will be able to understand the dynamics and determinants of market supply and demand. She will also be able to distinguish the level of market competitiveness and the associated limitations. Thanks to the concepts learned in studying public intervention, the student will also understand the main solutions in response to market failures
Autonomy of judgment: considering that the course is provided to Law students, the latter are required to autonomously relate the economic concepts and methodologies learned during the course with their competences in law.
Communication skills: during the exam, the student will have to present in a clear, concise and exhaustive way the concepts learned during the course using a scientific terminology which has to be appropriate to economics.
Ability to learn: the student will have to demonstrate the basic knowledge learned during the attendance at lessons and in the textbook. Furthermore, the student must show that he / she is able to deepen the basic contents proposed by the teacher through the consultation and reading of further references on the main sources of economic information (books, scientific articles, magazines, newspapers) showing updating and learning skills adapted to the context real.
Introduction, Chapter 1, Chapter 2, Chapter 3 (par. 1, 2, 3, 4, 5.1), Chapter 4, Chapter 5 (excluding par. 6.1, 6.2, 6.3), Chapter 6.
Introduction: thinking as an economist. Demand and supply. Fundamentals of consumer and production theory. Markets structure. Externalities and market failures. Public interventions in the economy.
The course will be organized in 3 weekly lessons. During the lectures the most complex theoretical steps will be explained. Examples from the real context that can help in understanding the economic events under study, as well as in developing context analysis skills, will be also provided.
Sloman J., Garratt D. (2018). Microeconomia. Il Mulino.
The learning assessment will be carried out by means of a single written exam including three closed questions (quiz) and two open-ended questions. The exam lasts 60 minutes. For each correct answer, 5 points will be given, for a total of max 15/30 (to the wrong answers it will be assigned a negative score of 2 points). The two open answers will be assessed with a maximum of 15 points each, for a total of max 15/30. The exam will envisage the topics covered by the textbook as well as presented during the lectures (demand and supply, fundamentals of consumer and production theory, markets structure, externalities and market failures, public interventions in the economy).
The course is structured in a single module. There are no seminar interventions held by external experts.