Knowledge and under standing
The course aims to illustrate the basic operating rules of modern economic systems. In particular, it shows the role of the market as a set of rules and institutions designed to govern the process of resource allocation. In this framework will be studied the behavior of the elementary units such as households and firms (microeconomics), but also the behavior of aggregates of households and enterprises (macroeconomics). The results achieved by the economic object of study will be subjected to a judgment in order to ascertain whether the particular allocation of resources is achieved in the given circumstances, the best possible (welfare economics).
Applying knowledge and understanding
The knowledge acquired by the learner will enable them to understand the fundamental models for study both microeconomic and macroeconomic analysis. The student must also be able to evaluate and compare the different models in the light of the ability of these to interpret the contingent situation.