ECONOMICS APPLIED TO ENGINEERING - channel 2

ING-IND/35 - 6 CFU - 1° Semester

Teaching Staff

SALVATORE CANNELLA
Email: cannella@unict.it
Office: Città Universitaria, Edificio 10, 1°piano, ufficio n.4 - Viale A. Doria, 6, Catania
Office Hours: Disponibile sul sito dei Corsi di Laurea - N.B. Si prega di leggere con attenzione il documento "Indicazioni per richiesta assistenza.pdf" presente nella pagina Studium dell'insegnamento


Learning Objectives

The course introduces students to the concept of economic rationality and provides the methodology for the introductory analysis of firms' decisions concerning costs, markets, and project evaluation Students are also introduced to main concepts and models for the analysis of macroeconomic systems.



Detailed Course Content

ENGLISH

Economics of the firm and of markets

How economists think. The logic of costs and benefits. The market. Individual and aggregate demand. Theory of production: the production function and short and long run costs. Market structures: perfect competition, monopoly, imperfect competition. Strategic interaction in oligopolistic markets.

Contemporary economics.

Macroeconomic variables: GDP, price level and inflation, employment and unemployment, balance of payments, public budget, money, financial markets and interest rates. The determination of the national income in the short run. The economic cycle. The AD-AS model. Economic Policy. Principles of open economies.

Project Analysis
Formulating investment alternatives. Project costs. Some representative short-term decisions (make-or-buy, choice of materials). Principles of financial mathematics. Decision Criteria: NPV, IRR, payback, other criteria. Choosing among alternative projects. Capital depreciation. Taxation. Economic evaluation of public sector projects.



Textbook Information

O’SULLIVAN A., SHEFFRIN S.M., PEREZ S.J., BIANCHI C. (2015). Elementi di Economia, Pearson.

SULLIVAN W.G., WICKS, E.M., LUXHOJ (2006). Economia applicata all’ingegneria. Pearson Prentice-Hall.




Open in PDF format Versione in italiano