00256 - Political Economy

Learning outcomes

At the end of the course, the student will have acquired the essential theoretical foundations to interpret the behaviors and interactions among consumers, businesses, and the public sector in market economies. Specifically, the student will be able to:
- Analyze the main theories of consumption, production, and market functioning.
- Assess their implications with respect to the economic reality.

Course contents

The course introduces the fundamental elements of microeconomics and macroeconomics.

The microeconomics section examines consumer and firm behavior, the economic role of the state, and the relationship between economic equilibrium and market structures. Additional emphasis is placed on the concepts of private goods, public goods, externalities, and market failure.

The macroeconomics section presents and discusses essential topics to understand the functioning of the overall economic system. It introduces the concepts of national product, aggregate demand and supply, employment, unemployment, and inflation.

The main topics covered in the course include:
- Individual decision-making and interactions between individuals.
- Consumer choice theory.
- Market forces of demand and supply.
- Markets and welfare.
- Public sector economics.
- Firm behavior and industrial organization.
- Labor market economics.
- Consumer choice theory.

- Macroeconomic data analysis.
- The real economy in the long term.
- Money and prices in the long term.
- Macroeconomics of open economies.
- Short-term economic fluctuations.
- International finance and macroeconomics.

Readings/Bibliography

The reference text is currently being defined.

The instructor will provide supplementary teaching materials available at www.virtuale.unibo.it .

Teaching methods

Lectures, in-class exercises, discussions on economic events.

During the lectures, the theoretical part is central. Alongside it, there will be efforts to discuss the applied implications of the topics covered, especially in relation to current events.

Assessment methods

To achieve a thorough preparation, it is recommended to study the textbook, the teaching materials provided by the teacher, and the notes taken during the lectures.

An exam is scheduled at the end of the course.

The exam consists of 2 questions on the topics covered in the lectures, exercises, and 10 multiple-choice questions.

The questions, exercises, and quizzes aim to assess the student's ability to derive coherent conclusions and interpretations from the theories presented in the lectures and the textbook. Graphical analysis is particularly useful for passing the exam.

The final grade, expressed out of thirty, is determined by the arithmetic average of the scores obtained in each question and the quizzes.

Teaching tools

Projector and whiteboard

Office hours

See the website of Laura Vici