First cycle
degree courses
Second cycle
degree courses
Single cycle
degree courses
School of Agricultural Sciences and Veterinary Medicine
Course unit
AGL1001661, A.A. 2019/20

Information concerning the students who enrolled in A.Y. 2018/19

Information on the course unit
Degree course First cycle degree in
IF0325, Degree course structure A.Y. 2017/18, A.Y. 2019/20
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Number of ECTS credits allocated 8.0
Type of assessment Mark
Course unit English denomination PRINCIPLES OF ECONOMICS
Website of the academic structure
Department of reference Department of Agronomy, Food, Natural Resources, Animals and the Environment
E-Learning website
Mandatory attendance No
Language of instruction Italian
Single Course unit The Course unit can be attended under the option Single Course unit attendance
Optional Course unit The Course unit can be chosen as Optional Course unit

Teacher in charge SAMUELE TRESTINI AGR/01

ECTS: details
Type Scientific-Disciplinary Sector Credits allocated
Core courses AGR/01 Rural economy and evaluation 8.0

Course unit organization
Period Second semester
Year 2nd Year
Teaching method frontal

Type of hours Credits Teaching
Hours of
Individual study
Practice 1.0 8 17.0 No turn
Lecture 7.0 56 119.0 No turn

Start of activities 02/03/2020
End of activities 12/06/2020
Show course schedule 2019/20 Reg.2017 course timetable

Prerequisites: To attend the course is important to own the knowledge relate to the mathematics course. In particular the student should be able to analyse mathematical functions.
Target skills and knowledge: The course intent is to supply the knowledge about the theoretical background on consumer and producer behaviour, market organisation, structure and rule. In this way the student will be able to understand the condition underpinning the choice of different economic agent with particular attention to agro-food product market.
At the end of the course the student will be able identify and analyse the main variables affecting the economic system and to evaluate the main tendencies. In addition, the student will be able to apply theoretical background to explain the reasons behind the choices of consumers and producers under a variation of the economic context.
Examination methods: The exam will take place by mean of a oral exam.
Assessment criteria: The evaluation criteria are the following:
- understanding of theoretical knowledge supplied
- ability in the application of knowledge
- ability in the interpretation of economics phenomena
- communication skills
Course unit contents: 1st Credit: introduction: economics: historical mention, definitions, context, aim. Scarcity and efficiency. Rational choice. Micro and Macroeconomics. Positive and normative economics. Market economics.
2nd Credit: Economics agent and behaviour. Mention to mathematical models applied in economics. GDP and welfare measures; the economic, social and environmental roles played by agriculture
3rd Credit: Demand and consumer behaviour. Individual demand and consumer preference. Utility notion, utility maximisation, budget constraint and consumer equilibrium. Income and substitution effect. Engel law and food demand. Consumer surplus.
4th Credit: Demand and elasticity: definition. Price elasticity, income elasticity and cross elasticity.
Exercise on Elasticity application and calculation.
5th Credit: The theory of Production. Economic objective, production and producers behaviour. The production function. The technological progress. Law of diminishing marginal returns. The isoquant and factor substitution.
6th Credit: Technical optimisation of factor use. Return to scale. Exercise on production function and optimisation of factor use.
7th Credit: The aggregated demand and supply model. Market equilibrium, changing equilibrium and price volatility. Market policy: minimum and maximum price, market distortion. Mention on main market structure. Exercise on price equilibrium determination.
8th Credit: Short and long-run costs. Short-run cost analysis. Optimisation of production level. Break even and shutdown price. The producer supply curve. Exercise on cost and profit calculation, break even and shutdown price.
Planned learning activities and teaching methods: The learning activity is based on the participation to frontal lecture. Practice exercises and seminars are foreseen.
Additional notes about suggested reading: The teaching material can be consulted at:
Textbooks (and optional supplementary readings)
  • Begg, David; Dornbusch, Rudi; Ricciardi, Carlo Antonio; Barbarito, Luca, Microeconomia. --: McGraw-Hill, --. Cerca nel catalogo

Innovative teaching methods: Teaching and learning strategies
  • Lecturing
  • Interactive lecturing
  • Questioning
  • Story telling
  • Use of online videos

Innovative teaching methods: Software or applications used
  • Moodle (files, quizzes, workshops, ...)

Sustainable Development Goals (SDGs)
Zero Hunger Decent Work and Economic Growth Responsible Consumption and Production Climate Action