Economics

Training objectives of the course

After the exam, students should be able to:
- understand the functioning of a free market economy where different kinds of agents interact;
- understand the logic used by an economic agent (consumer or producer) in deciding how much to consume or to produce;
- understand when a market is efficient or inefficient and, therefore, which kind of regulation could be used;
- define and explain the main determinants of some macro variables such as GDP, unemployment, inflation;
- understand how Governments and Central Banks should intervene in order to “adjust” the functioning of a free-market economy;
- understand and discuss the present economic situation and the advantages and disadvantages of public intervention.

Course programme

In line with the general objectives of the degree, the course of Economics will provide students with theoretical and analytical foundations of economic science, helpful in understanding the functioning of modern economic systems. The traditional issues of micro and macroeconomics courses are proposed.
• In microeconomics, after defining the fundamental characteristics of economic actors, we will be studying the functioning of a market: how market prices are formed, how firms choose quantity to produce and price.
• In macroeconomics, we will look at the economy as a whole. We will study the gross national product and its components, inflation, unemployment and the role of money.

Didactic Methods

Teaching methods include:
- traditional classes;
- self-assessment tests.

The course will use an online community to share information and materials.
For any revisions, updates and changes to this program, please consult the Course Community.

Learning assessment procedures

it is a written test with multiple-choice questions.
Grades will be in marks out of 30.
There might be a midterm test in November.
There are no differences between Erasmus students and IULM students