PRINCIPLES OF ECONOMICS - 1 - PRACTICE

The course presents a baseline market equilibrium model, the analysis of consumers and firms choices and provides the minimal microeconomics toolkit for management undergraduate students.

Students are expected to understand, apply and evaluate baseline microeconomic models of how individuals take consumption and production decisions.

It is advisable to have a course in Mathematics. In particular, students must be able to draw analytic functions in R^2 and R^3, to solve systems of linear equations, to compute derivatives.

- Demand, supply and market equilibrium. Elasticity.
- Consumer choice: demand curve and Engel curve, income and substitution effects. Labour supply. Intertemporal choices.
- Firm choice: production function and returns to scale, cost function, average and marginal cost, economies of scale.

D. Bernheim and M. Whinston, Microeconomia, 2023, Mc-Graw Hill Italia, IV Edition.
Molinari, Maria Cristina, Esercizi di Economia Politica, 2011, Libreria Editrice Cafoscarina, Nuova edizione rivista e corretta.

Written exam, time allowed 90 minutes, made of True/False theory questions and exercises patterned after those done in the practice classes and those available from the workbook. The pass grade is 18 out of 32 points, evenly divided between theory questions and exercises.
It is possible to take the exam in two written partial tests, mid-course and at the end of the course.

written

Decree of November 3, 1999, No. 509 of the Ministry of University and Scientific and Technological Research establishes in Article 5, paragraph 4, that:
"The credits corresponding to each educational activity are acquired by the student upon passing the exam or another form of assessment, provided that the evaluation of the student's performance is carried out in accordance with the procedures set out in Article 11, paragraph 7, letter d)."
Furthermore, Article 11, paragraph 7, letter d, states that:
"University teaching regulations, in compliance with the statutes, also govern the organizational aspects of teaching activities common to study programs, with particular reference to the methods by which the student's individual performance is assessed, which must in any case be expressed using a grade out of thirty for exams and out of one hundred and ten for the final test, with possible honors."
It follows, first of all, that university teaching regulations cannot adopt a grading scale different from that established by law, nor can they establish correspondences between grades expressed out of thirty and qualitative judgments, as these would be entirely arbitrary. However, the credits corresponding to each educational activity may be acquired by the student if the grade is at least 18 out of 30.
Grades below 18 are therefore insufficient to warrant the acquisition of the corresponding educational credits.
Furthermore, in accordance with the legal provisions, the highest achievable grade is 30 out of 30 with honors.
Given all this, it is evident that a higher level of performance corresponds to a higher grade, and that the grade will be assigned in a way that maximizes the accuracy in assessing the student's performance, through the scores assigned to the exercises that make up the exam.

In person lectures and classes.
Students are warmly invited to actively participate to lectures and classes.

The course website is on moodle.unive.it. The course website provides detailed information on the course syllabus, on the exam and on the teaching material.

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.