The course trains students to use concepts from microeconomic theory to analyze public policy issues and introduces foundational concepts in macroeconomics. As an introductory course, it equips students to use economic reasoning for critically thinking through the policy-making process besides everyday decisions.
Case studies and policy labs will supplement standard class lectures.
Two textbooks are required, the main one covering the topics explored in the course and the second one accompanying the case studies.
The main textbook, in addition to the hard copy, is also available in e-book format. The e-book version is free of charge. However, the lecturer urges careful consideration of opting out of using the paper version. In fact, the textbook will be used intensively and the e-book version, although useful in many situations, does not lend itself to careful and painstaking study.
The CORE Team. Economy, Society, and Public Policy
https://www.core-econ.org/project/core-espp/
The accompanying text for the case studies is available only as a free e-book.
The CORE Team. Doing Economics: empirical projects
https://www.core-econ.org/project/doing-economics/
Obiettivi Formativi
The primary goal of the course is to enable students to apply principles of economics to complex policy questions. and analyze market scenarios and the distributional and efficiency aspects of government intervention.
By the end of this course, the students will (1) be literate in fundamental economic principles, (2) understand the limits of economic theory and free markets, (3) justify government and nonprofit intervention in the economy, and (4) make informed policy recommendations by analyzing and evaluating public sector policies. Specifically, you’ll be able to:
• Understand the principles of microeconomics, public economics, and behavioral economics
• Explain social phenomena using economic vocabulary and reasoning
• Predict how individuals respond to incentives
• Evaluate the costs, benefits, and long-term consequences of public and nonprofit sector policies
• Justify government intervention in the free market and identify when public policies have been unethical or failures
• Propose and argue for public and nonprofit sector policies
Prerequisiti
Basic high school level skills in math, understanding of graphs, basic skills in using computer tools.
Metodi Didattici
The course involves alternating weekly in-class lectures with computer lab sessions complemented by homework and online video pills.
The in-class lectures are organized as follows:
- Before each lecture, students must (mandatorily) study a chapter from the textbook, previously indicated by the lecturer (usually 40-50 pages).
- In the first part of the lecture, the topics will be partly reviewed and explored by the lecturer.
- In the second part there will be a public discussion of the most important topics with student participation.
The computer lab sessions, together with homework and videos, will introduce the case studies and problem sets.
Each case study will be analyzed with the help of a public dataset. The lecturer will present the basics of how to tackle the required analysis using LibreOffice Calc or similar spreadsheets.
The problem sets will sometimes involve pen and paper analysis.
Each student will be expected to develop his or her own analysis as a homework assignment and will receive (and be asked to give) a peer assessment.
Altre Informazioni
The course is organised on the principle of 'ongoing assessment'.
Quizzes, homework assignments, class discussions, laboratory sessions are organised throughout the course: these activities allow the accumulation of points that contribute to the final grade.
Attendance is compulsory for students wishing to make use of the ongoing assessment.
More info about the course will be made available through its Moodle page at e-l.unifi.it
Modalità di verifica apprendimento
The final assessment will be the result of an ongoing evaluation process.
1) You will get the most out of this class if you (1) attend class, (2) complete all the readings, and (3) engage (take detailed notes, watch the videos and supplementary content, work through the examples given in the textbook, have vivid dreams about them, etc.) with the readings.
2) Homework assignments
To practice solving microeconomic problems you will be asked to complete a series of 10 quizzes and 6 case studies. Most of the questions in these assignments will be taken from the two textbooks.
You need to show that you made a good faith effort to work on each question.
You may (and should!) work together on the case studies, but you must turn in your own answers.
Case studies will receive peer review. This implies that each student, after turning in his or her own paper, will have to correct and grade the papers of some peers.
The lecturer will then take care of checking the outcome of the proofs handed in as well as the assessments made.
The entire procedure will be managed through the course e-learning page. Each student should take care to secure access to the site by obtaining the necessary login details from the University Administration.
3) Final exam
A final exam with (i) multiple-choice questions, (ii) open-ended questions, and (iii) a dataset analysis will complete the assessment process.
Programma del corso
1 - Capitalism and democracy: Affluence, inequality, and the environment
2 - Social interactions and economic outcomes
3 - Public policy for fairness and efficiency
4 - Work, wellbeing, and scarcity
5 - Institutions, power, and inequality
6 - The firm: Employees, managers, and owners
7 - Firms and markets for goods and services
8 - The labour market and the product market: Unemployment and inequality
9 - The credit market: Borrowers, lenders, and the rate of interest
10 - Banks, money, housing, and financial assets
11 - Market successes and failures
12 - Governments and markets in a democratic society
Obiettivi Agenda 2030 per lo sviluppo sostenibile
8 - Decent work and economic growth: To recognise the importance of sustained economic growth and high levels of economic productivity for the creation of well-paid quality jobs and calls for opportunities for full employment and decent work for all.
10 - Reduced inequality: To address the issue of inequalities within and among countries.