The course provides the student with the basic knowledge of the principles of the economic rationality, some economic aggregates, and some basic models for the analysis of the economic systems. It also tackles with the basics of cost analysis, market analysis and engineering programming.
Lectures and exercise modules.
Economics of firms and markets
Economic rationality. The logic costs-benefits. The market. The individual demand and the market demand. The theory of production: the production function and the short and long-run cost functions. Market organization: perfect competition; monopoly; oligopoly.
The macroeconomic aggregates
Gross Domestic Product; prices and inflations; employment and unemployment; national budget; money; financial market and interest rates.
Programming; Planning; and Investment evaluation
Economic and financial analysis. Analysis and dimension of cash flow. Cost-opportunity of capital. Investment alternatives. The costs of the project. Fundamentals of financial mathematics. Decision criteria: Net Present Value (NPV); Internal Rate of Return. Confronting alternatives.
N.G.Mankiw, M.P. Taylor (2015). Principi di Economia, Zanichelli, Bologna, VI edizione.
M. Falasco, E. Guzzini (2009).Strumenti per la valutazione degli investimenti industriali, McGrawHill Italia. Capitoli 2;3;4