PRINCIPLES OF ECONOMICS FOR OPEN ECONOMIES

According to the Dublin descriptors, the Course intends to pursue the following aims:

 

1)Knowledge and understanding

The objective of the course is to provide the main concepts of how open economies work. Students will therefore be able to enrich their preparation by including economic studies.

 

2) Ability to apply knowledge and understanding

The course is introductory to the main economic concepts, and the tools most widely used in economic analysis. Students should be able to apply these concepts and tools in the analysis of economic phenomena that will be proposed to them.

 

3) Autonomy of judgment

Students should first be able to make a positive analysis of economic phenomena, identifying the objective characteristics that distinguish them. Secondly, as a result of their prior studies and this teaching, they should be able to identify which economic phenomena promote cooperation.

 

4) Communication skills

Students should be able to discuss the concepts learned in lectures using terminology specific to the economic sciences.

 

5) Learning skills

Students should be able to independently reprocess concepts learned during lectures, and use the analytical tools offered in this course.

1) The capitalist revolution [s1] Reference: The Economy - Chapter 1

 

2) Competitive markets: supply and demand

Reference: MT15-chapter 3

 

3) Consumers, Producers, Market Efficiency and Welfare.

Reference: MT15-chapter 7

 

4) Interdependence and Benefits of Exchange. Trade Policies.

Reference: MT15-chapter 19

 

5) Measuring the Income of a Country.

Reference: MT15-chapter 20.

 

6) Income inequality and poverty.

Reference: MT15-chapter.18.

 

7) Production and growth

Reference: MT15-chapter 22

 

8) Cooperation and social interactions

Reference: The Economy-chapter 4

 

9) Savings, investment and the financial system

Reference: MT15-chapter 24.

 

10) The financial crisis of 2007/08, The Euro Area debt crisis in 2010-2012.

Reference: MT15-chapter 38

 

11) Exchange Rates.

Reference: MT15-chapter 28: p. 554-556.

MT15: Principles of Economics, N. G. Mankiw & M. P. Taylor, 2015 (6th Italian edition), Zanichelli. Chapters 3 (pp. 31-49), 7 (pp. 124–138), 19 (pp.334-359), 20 (pp. 368-382), 18 (pp. 314-330),  22 (pp. 398-420),  24 (pp. 442-452), 38 (pp. 685-704), 28 (pp. 528-533).

 

Book "The Economy," available online https://www.core-econ.org/project/core-the-economy/, chapters 1 and 4.

 

There is the book "Essentials of Economics,” (sixth italian edition,  based on the seventh US edition), which is a short version of the book "Principles of Economics," both by N. G. Mankiw & M. P. Taylor. All chapters in "Essentials" are also found in "Principles." "Essentials" has a lower cost and may be sufficient if supplemented with the missing chapters found in “Principles."

The following chapters of “Essentials of Economics” are part of the program: 4 (pp. 50-66), 7(pp. 104-118), 3 (pp. 36-47), 17 (pp. 272-288),  19 (pp. 304-322), 20 (324-331).

 

Please remember that in compliance with art 171 L22.04.1941, n. 633 and its amendments, it is illegal to copy entire books or journals, only 15% of their content can be copied.

For further information on sanctions and regulations concerning photocopying please refer to the regulations on copyright (Linee Guida sulla Gestione dei Diritti d’Autore) provided by AIDRO - Associazione Italiana per i Diritti di Riproduzione delle opere dell’ingegno (the Italian Association on Copyright).

All the books listed in the programs can be consulted in the Library.