Economics

This course is part of the Laurea Magistrale program. The course is intended for advanced level students only. Enrollment is by consent of the instructor. At the end of the course, the student has a working knowledge of the basic tools and results of the classical microeconomic theory for perfectly competitive environments. In particular, the class focuses on: classical consumer theory: utility maximization and expenditure minimization; choice under uncertainty and insurance decisions; production theory, profit maximization, and cost functions; welfare analysis of perfectly competitive markets. Specific Topics covered: consumer behavior, consumer choice and demand; preference relations, rationality, and utility functions; the budget set; demand functions; indirect utility; utility maximization, expenditure minimization, and duality; individual and aggregated demand functions; welfare evaluation of economic changes; choice under uncertainty; expected utility theory; risk aversion and risk premium; the insurance decision; risk spreading, risk pooling, and diversification; production sets; profit maximization, cost minimization, and duality; aggregation; efficient production; partial equilibrium analysis; Pareto optimality and competitive equilibria; the fundamental welfare theorems in partial equilibrium; welfare analysis in partial equilibrium; pure exchange; Pareto optimality in general equilibrium; general economic equilibrium with production; the fundamental welfare theorems in general equilibrium.

The class presents a historical analysis of economic events and changes. Students examine the evolution in the quality of life; Western industrialization; convergence in various historical periods; the evolution of international economics; and institutions and development. Other topics include: modern economic growth; institutions and markets; population and natural resources; contemporary business; globalization; technological change and growth. NOTE: course is the same as ECON/HIST 103, but taught in English.

This course focuses on business modeling, data analytics, and the integration of accounting systems with other information systems in the organization. It emphasizes business risk as well as information technology risk and the controls. Students learn the basic skills for data analytics, relational database modeling skills using unified modeling language, SQL queries, pivot tables, elements of XBRL taxonomy, and data visualization tools.