Economics

By studying Principle of Economics, students should learn some basic knowledge of Economics, master fundamental economic concepts and use economic theories to analyze micro- and macroeconomic phenomena in our daily life. In addition, students should lay a solid foundation to study further economic courses.

The number of international migrants has rapidly grown over the last few decades. This course explores the economic determinants and consequences of international migration, and sheds light on the often controversial policy debates surrounding immigration. Students apply basic economic theory and empirical methods to understand the decision to migrate, the effect of immigration on labor markets and government budgets, the effect of diversity on economic performance, the effect of high-skilled emigration on source countries and immigration policies. The course has a strong focus on the empirical evidence on immigration and trains students' ability to critically assess this evidence.

This course discusses the methodology used in economic theory, with the models of economic behavior, and the driving forces behind market prices. It focuses on the theory of production and costs and the analysis of competitive and non-competitive markets. Prior completion of Microeconomics I and II, Mathematics I, II and III is strongly recommended.

This course is part of the Laurea Magistrale degree program and is intended for advanced level students. Enrollment is by permission of the instructor. The course offers students a multidimensional perspective on the dynamic links between human societies and the environment, using insights from environmental, resource and ecological economics. After presenting the historical background of the discipline, the course provides a broad overview of how economic theory conceptualizes the problems of optimal pollution control and the efficient use of exhaustible and renewable natural resources. Several key sub-fields of environmental economics are analyzed and discussed, including the valuation of environmental goods, the measurement of sustainability, the links between economic growth and environmental degradation, the role of technological innovation as well as the behavioral aspects of environmental protection. Climate economic modelling is the main applied focus of the course. At the end of the course, students have a comprehensive understanding of the most relevant research areas in environmental and resource economics.

Specific topics covered:

• Weak and strong sustainability; environmental and ecological economics
• Economic growth and the environment
• Measures of sustainability
• Static and dynamic efficiency
• Cost-benefit analysis
• Depletable resource economics
• Renewable resource economics
• Climate change economics
• Environmental policy
• International environmental agreements

This seminar course explores the impacts of globalization, with a focus on China. The course will include in-class readings, discussions, and mini-projects. We will together read through the recent economics literature on a set of topics related to the open-up of China in the mid-19th century, impacts of free trade agreements, imports and exports, foreign investment, migration, human capital accumulation, income inequality, etc. 

The class first covers the historical-social process of capitalism through a geographic perspective by explaining the different theories of political economy and its critics, mainly Marx.  The course begins with the physiocrats, then to the mercantiles, and classical political economic theories.  The course covers feudal societies, class antagonisms, creation of port cities, and centralization of markets and power within cities.  It also addresses the hierarchical dynamics of capitalism on a global scale and changes in use value and exchange value as a result of higher quality of life.  

This course examines advanced macroeconomics and its application to real-world issues. The emphasis will be on the microeconomic foundations and decisions that underlie the behavior of aggregate variables. 

This course studies the issues in international trade, or any trade in general. It begins with the two concepts that underlie trades between any individuals or groups of individuals, not just international trade: Division of labor and comparative advantage from Adam Smith and David Ricardo. Trade enables the division of labor, which leads to productivity increase and prosperity. The course then proceeds with the empirics and theories that are more specific to trade between countries. Empirically, the course introduces gravity equations and teaches where to obtain important international trade data. The class will be expected to perform simple exercises of using these data either in class or as homework.  Finally, the course also reviews empirical international trade literature. Theoretically, the course introduces simple versions of key models in the modern trade literature. For each theoretical model, empirical motivations are provided. 

This course introduces the basic concepts, analysis methods and related economic issues of individual economics. The scope of individual economics is mainly the consumption and production behavior of consumers and manufacturers in the market. In other words, it discusses the operation of demand and supply in the market and the determination of market prices. This course also explores the role of government departments in the market. For example, in the face of rising international crude oil prices, does the government need to control the rising prices of domestic oil products? Does the government charge tuition fees for college students, or regulate or subsidize it?

Through the analysis tools of individual economics, the course explores many issues of concern to the public, including public health, public health, poverty, unemployment, crime, education, marriage, childbearing, population aging, regulation, environmental protection, and international trade. 

Labor economists study labor supply, labor demand, minimum wages, taxes and transfers, immigration, human capital, education production, inequality, discrimination, unions and strikes, and unemployment. We will focus on applying applied microeconomics theory to the empirical data analysis.