ESSENTIALS OF ECONOMICS

The course is among those characterizing the Master's Degree Programme in Languages, Economics and Institutions of Asia and North Africa, for the curricula: Language, Societies and Institutions of Contemporary China and Language, Economics and Institutions of Japan. The course provides an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed. Important policy debates, such as the public debt, are critically explored. The course introduces basic models of macroeconomics and illustrates principles with the experience of the China and Japan economies.

1. Knowledge and comprehension skills:
1.1. interpreting the main macroeconomic phenomena and understanding aggregate indicators
1.2. Understanding trends in the economy and how the economy moves as a whole
1.3. Understanding the principal transmission channels through which monetary and fiscal policies affect economic growth

2. Applied knowledge and comprehension skills:
2.1. computing macroeconomic indicators to explain
macroeconomic performance
2.2. understanding real-world phenomena and evaluating alternative macroeconomic policies
2.3. understanding instruments and objectives of monetary and fiscal policies

3. Use of independent judgment:
3.1. Evaluating critically the policy debate with the methods and tools developed by macro economists
3.2. Assessing the potential and limitations of the models and methods used in economic analysis
3.3 Using different information to assess the stance of current fiscal and monetary policies and diagnose the outlook for the economy of China and Japan

Knowledge and comprehension skills of the course: basic graphing skills and essential math knowledge.

1. Introduction to Macroeconomics: Measuring Domestic Output and National Income
1.2 Economic Growth, Business Cycles, Unemployment, and Inflation
2. Basic Macroeconomic Relationships
2.1. The Aggregate Expenditures Model
2.2. Aggregate Demand and Aggregate Supply
2.3. Fiscal Policy, Deficit, and Debt
3. Money, Banking, and Financial Institutions
3.1. Money Creation
3.2. Interest Rates and Monetary Policy
4. The IS-LM Model
4.1. Fiscal Policy and Monetary Policy
4.2. Liquidity Trap and Crowding out Effects

Students may study from any macroeconomics textbook, using the slides provided during the course as a reference framework.
Among the textbooks, see for example:
Sloman, J. and Garratt, D., Economics, Il Mulino, Bologna, various editions (Introduction and Parts II and III).

They may also use open-source materials, such as:
https://www.core-econ.org
"An open-access platform for anyone who wants to understand the economics of innovation, inequality, environmental sustainability, and more."

Readings and outlines on the main topics will be available online on the Moodle platform.

The exam consists of a written test and oral integration may be required.
Questions can be:
- theoretical
- analytical exercises
- numerical exercises
- multiple choice questions
- charts, tables and macro-economic indicators to be commented.

The Moodle website will include exercises and examples of exam questions with solutions.

written

Scores in the 18–22 range will be awarded in the presence of:
- a sufficient level of knowledge and understanding of the topics covered in the syllabus
- limited ability to formulate independent judgments.
B. Scores in the 23–26 range will be awarded in the presence of:
-fair level of knowledge and understanding of the topics covered in the syllabus;
- fair ability to interpret major macroeconomic phenomena and the effects of economic policies.
C. Scores in the 27–30 range will be awarded in the presence of:
- good to excellent level of knowledge and understanding of the topics covered in the syllabus;
- good to excellent ability to interpret major macroeconomic phenomena and the effects of economic policies, with the capacity to formulate independent judgments
D. Honors ("la lode") will be awarded in the presence of excellent knowledge and applied understanding of the syllabus content.

The course is organized in:
a) lectures
b) classroom exercises, with Active Learning sessions guided by the teacher during the course
c) classroom reading activities of economic articles on China and Japan
d) individual study

Students are encouraged to attend classes in an active way, reading the chapters of the book before coming to class and doing the exercises (available on the Moodle platform).

Accessibility, Disability and Inclusion
Accommodation and support services for students with disabilities and students with specific learning impairments

Ca' Foscari abides by Italian Law (Law 17/1999; Law 170/2010) regarding support services and accommodation available to students with disabilities. This includes students with mobility, visual, hearing and other disabilities (Law 17/1999), and specific learning impairments (Law 170/2010). If you have a disability or impairment that requires accommodations (i.e., alternate testing, readers, note takers or interpreters) please contact the Disability and Accessibility Offices in Student Services: disabilita@unive.it.

This subject deals with topics related to the macro-area "Circular economy, innovation, work" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development