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Prof. Gennaro Zezza - Part II

ECTS: 10

Prerequisites: None


1. Decision makers under imperfect information and the possible tasks of the entrepreneur. 2. The orthodox theory of consumption. 3. Behavioural consumer theory. 4. Possible forms of the production function and of the cost curves in the short and in the long run. 5. Models of firms’ behaviour in competitive markets. 6. Pricing in non-competitive markets. 7. Transaction costs, vertical integration and the evolution of industries. 8. Finance and growth of the firm. 9. GDP, its components and its determinants. 10. Real and financial wealth: wealth accumulation, wealth measurement 11. The Keynesian model. 12. The IS-LM model. 13. The Aggregate Demand/Aggregate Supply model. 14. Unemployment and Inflation. 15. Competitiveness and trade. 16. Exchange rate regimes. 17. International financial markets. 18. Fiscal policy. 19. Monetary policy


P.Earl and T.Wakeley, Business Economics: a contemporary approach, McGraw-Hill,2005.
Blanchard, Giavazzi, Amighini, Macroeconomics: A European Perspective, Pearson, 2013 (for points 9 to 19).


The course expands on the basics of microeconomics and macroeconomics from the viewpoint of the entrepreneur. In particular, the course enquiries into how entrepreneurs allocate between alternative uses the three fundamental sets of resources: (i) the physical resources, such as capital, land and intermediate goods; (ii) the financial resources, such as bank deposits, loans and securities.

Part I addresses the questions of how firms might attract boundedly rational consumers and how they can finance and organize the production process efficiently. Alternative theories and practices of ‘pricing’ will also be investigated for firms operating both in competitive and non-competitive markets.

Part II provides a general introduction to how an economic system works, examining in detail the meaning of the fundamental economic measures, such as GDP, debt and wealth, and their dynamics. The course will present the most important alternative views on how the economic system works. Particular attention will be given to the target and instruments of the government and of monetary authorities, in the current international context.

Teaching and examination methods: Lectures; written and oral exam.

[Ultima modifica: mercoledì 30 novembre 2016]