The purpose of the course is to make graduates in legal disciplines able to understand the economic impact of laws and institutions through a comprehensive understanding of the basic mechanisms driving economic systems. Student will acquire the analytical tools and the basic knowledge necessary to understand and interpret the economy. Starting from the microeconomic analysis of individual behavior of consumes and firms, the course will then study the effect of interactions among economic agents and the market equilibrium. Building on the microeconomic background, it will then analyze the evolution of the main macroeconomic variables – GDP, imports and exports, unemployment, inflation, interest rates – and the impact of the two major instruments of intervention of economic policy: fiscal and monetary policy.
The presentation of the main macroeconomic theories will take place mainly in graphic form and with the help of simple formal models. It will be accompanied by examples and references to the performance of the real economy that will allow students to better understand how the models can be used to interpret the evolution of the economy and the impact of the different economic policy options.
The aim of the teaching is to increase students' knowledge and their ability to understand economic phenomena independently, providing the ability to follow the ongoing debates and the possible alternative policy options, developing an independent judgment. Students will also learn to communicate critically within and outside their working context the results of their analyses.