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Scienze dell'amministrazione e dell'organizzazione

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ECONOMICS
Module Applied economy

Academic Year 2022/2023 - Teacher: Maria Daniela GIAMMANCO

Expected Learning Outcomes

At the end of the course the students will know the microeconomic models of analysis of consumer spending and  firms’ production decisions in the different market forms. This knowledge will allow them to analyze the production decisions of the firms and to understand the dynamics of the markets

Course Structure

Frontal didactics and classroom exercises

Required Prerequisites

Basic logical-mathematical skills

Attendance of Lessons

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Detailed Course Content

The decisions of the individuals and firms. The context of the entrepreneurial activity. The concept of market: the interaction between supply and demand. The limits of the markets. The economic analysis of firms and markets: the objectives and the behavior of the firms in the markets; the theory of production: the production function and the cost functions in the short-run and in the long-run; the firm’s production decisions; business strategies and pricing policies; the market structure. The factor markets.

Textbook Information

N.G.Mankiw, M.P. Taylor, A. Ashwin (2013) Business economics. Editore cengage

Course Planning

 SubjectsText References
1What Is Business Economics?N.G.Mankiw, M.P. Taylor, A. Ashwin (2013), Business Economics, cap.1.
2Economics and Business Decision Making N.G.Mankiw, M.P. Taylor, A. Ashwin (2013), cap.2.
3 The Business EnvironmentN.G.Mankiw, M.P. Taylor, A. Ashwin (2013), Business Economics,  cap.3.
4 Supply and Demand: How Markets Work N.G.Mankiw, M.P. Taylor, A. Ashwin (2013), Business Economics,  cap.4
5Elasticity and its ApplicationsN.G.Mankiw, M.P. Taylor, A. Ashwin (2013), Business Economics, cap.5.
6Market FailureN.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.6.
7The Consumer and Consumer BehaviourN.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.7.
8Business Goals and BehaviourN.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.8.
9Firm Behaviour and the Organization of Industry N.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.9.
10 The Firm’s Production DecisionsN.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.10.
11Corporate Strategy and Pricing Policy N.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.11.
12Market StructuresN.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.12.
13 Other Types of Imperfect CompetitionN.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.13.
14Labour MarketsN.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.14.
15Financial MarketsN.G.Mankiw, M.P. Taylor, A. Ashwin (2013),Business Economics,  cap.15.

Learning Assessment

Learning Assessment Procedures

Written exam with open-ended questions

Examples of frequently asked questions and / or exercises

1.      The law of demand (supply). The determinants of the demand (supply).

2.      Explain the difference between displacements along the function (what causes them?) And displacements of the function (caused by…). It is required a graphic analysis.

3.      Imagine that technological progress has made it easier to produce televisions, does this event upset the equilibrium in the television market? It is required a graphic analysis and a detailed explanation.

4.      The price of the croissants has increased, this event has an impact on the cappucinos’ market. It is required a graphic analysis and a detailed explanation.

5.      The elasticity of demand with respect to the price: the midpoint method.

6.      Explain the relationship between the demand elasticity and the slope of the demand curve.

7.      Explain the relationship between total revenue and elasticity. A graphic analysis is required.

8.      Negative externalities on production. It is required a graphic analysis and a detailed explanation

9.      Consumer surplus and producer surplus. It is required a graphic analysis and a detailed explanation.

10.   The cost curves. It is required a graphic analysis and a detailed explanation.

11.   The optimizing behavior of the firm in perfect competition in the short and long term.

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