The course provides students with basic tools of economic analysis, useful for understanding the world around them and explaining the historical evolution of the socio-economic system. By the end of the course, students will be able to:
understand the main elements of microeconomic analysis and selected macroeconomic concepts, with particular attention to markets and firms and their interaction with broader social phenomena;
apply fundamental concepts such as incentives, opportunity costs, marginal choices, strategic interactions, and market failures;
understand the impact of economic decisions using simple models;
interpret the use of economic indicators and, more generally, quantitative economic evidence;
identify and evaluate the implications of selected economic policy options;
develop teamwork and communication skills through practical activities and exercises.
Course Prerequisites
No specific prerequisites are required. Active participation in class is strongly recommended.
Teaching Methods
Lectures, classroom exercises, economic experiments, and group discussions.
Assessment Methods
Learning is assessed through a written examination. An oral discussion may be requested either by the instructor or by the student (provided that the written exam has been passed) to better evaluate the results or to improve the final grade. The written exam includes multiple-choice questions, open-ended questions, and possibly simple exercises. The exam aims to assess the acquisition of the full set of competences described in the learning objectives, particularly the ability to:
interpret descriptive data related to the socio-economic context, also from a historical perspective;
critically interpret basic microeconomic and macroeconomic phenomena;
understand and use simple models.
Texts
L'economia, comprendere il mondo che cambia, Il Mulino, Bologna, 2018.
Both the original and the Italian versions of the textbook are available on the CORE project website (www.core-econ.org/the-economy).
Additional materials and readings may be provided during the course.
Contents
The Principles of Economics course, structured into closely integrated Modules A and B, introduces students to the logic of economic reasoning and to the main analytical tools for understanding the interactions between individual choices, institutional mechanisms, and collective well-being. The course adopts an inductive approach: starting from concrete, historical, and contemporary problems illustrated with quantitative data, students are guided to recognize how essential economic concepts and models help interpret and analyse real-world phenomena. Compared to a traditional course, emphasis is placed on developing critical and interpretative skills and acquiring an overarching view of the economic method, without aiming to systematically cover all canonical topics of the discipline and with limited use of mathematical tools. Deeper thematic and methodological insights are provided in subsequent Microeconomics and Macroeconomics courses.
