First cycle
degree courses
Second cycle
degree courses
Single cycle
degree courses
School of Agricultural Sciences and Veterinary Medicine
Course unit
AG04122575, A.A. 2019/20

Information concerning the students who enrolled in A.Y. 2019/20

Information on the course unit
Degree course First cycle degree in
AG0056, 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
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 DANIEL VECCHIATO 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 1st Year
Teaching method frontal

Type of hours Credits Teaching
Hours of
Individual study
Practice 3.0 24 51.0 No turn
Lecture 5.0 40 85.0 No turn

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

Prerequisites: Elementary notions of algebra.
Target skills and knowledge: The course aims to give students basic knowledge of economics to develop skills to analyze the behavior of economic systems, economic subjects and the market.
The course provides knowledge of the market economy, macroeconomics and microeconomics. The study of the market economy gives elements to understand the the market economy but also the market failures. The macroeconomic analysis aims to explain the main economic phenomena such as the measurement of wealth, money systems, the central bank and the bank system, inflation and government expenditure. The microeconomic analysis aims to evaluate the behavior of consumers, producers and the market with the intent to understand the mechanisms that regulate the choices of the main economic operators with specific reference to the problems of food products.
The lectures are accomplished by exercises and the presentation of case studies of the agro-food and environmental sectors.
Examination methods: Written examination. The exam will consist of open question, multiple choice questions and numeric exercises.
Assessment criteria: i) ability to show a correct "economic reasoning";
ii) ability to show a correct comprehension of the topics presented during the course;
iii) ability to apply the concepts studied to real world case situations;
iv) use of a correct and appropriate economic terminology;
v) ability to properly solve the proposed problems and numeric exercises.
Course unit contents: 1st ECTS: Introduction. Economy: brief history, definitions, contexts, purposes. Scarcity and efficiency. The rationality of choices. Micro and macroeconomics. Positive and normative economics. Market economies. The scientific method in economics. Economic systems. Market failures. Public goods, private goods, club goods, commons and externalities. Adverse selection and moral hazard. Exercise on adverse selection in food markets.
2nd ECTS. The consumer behavior. Total and marginal utility, indifference curves, budget constraint and consumer equilibrium. Income and substitution effect. The consumer surplus. Exercise on consumer equilibrium.
3rd ECTS. The consumer demand and its elasticity. The demand law. Factors affecting demand. Engel's law and food consumption. Discrete and point elasticity. The price elasticity. Elasticity and revenue. The King effect. Exercise on elasticity revenue and income.
4th ECTS. The production theory. The production function. The technological progress. Law of diminishing marginal returns. The stages of production. Exercises on the production function.
5th ECTS. Analysis of short term production costs. Short and long term costs. Optimal production level. Entry and shut down price. The supply curve. Exercise on costs, profit, entry and shut down price.
6th ECTS. The market. Perfect and imperfect markets. Perfect competition markets and contestable markets. The monopoly and the behavior of the monopolist. Oligopoly and game theory. The market of monopolistic competition. Exercise on fixing the market equilibrium.
7th ECTS: Introduction to macroeconomics. GDP and measurement of well-being. Money and monetary systems. The central bank and the bank system.
8rd ECTS. Introduction to macroeconomics. Interest rates. Elements of public and private finance. Inflation. Employment and international trade. The public administration, the tax burden and public debt.
Planned learning activities and teaching methods: - classroom lectures
- tutorials and seminars in classroom
Additional notes about suggested reading: Teaching material updated and made available on the Moodle platform

Suggested books:
O'sullivan A.; Sheffrin S.M.; Perez S.J.; Bianchi C., 2015, "Elementi di economia. Principi, strumenti, applicazioni", Pearson Education Italia, ISBN: 8865183683

Mankiw G.N., Taylor M.P., 2016, "L’essenziale di Economia", 6ed., Zanichelli

David Begg, Gianluigi Vernasca, Stanley Fischer e Rudiger Dornbusch, "Microeconomia", McGrawHill, 2011 (4a edizione).
Textbooks (and optional supplementary readings)
  • O'Sullivan, Arthur; Sheffrin, Steven M.; Perez, Stephen J.; Bianchi, Carluccio, Elementi di economia. Principi, strumenti e applicazioni.. --: Pearson Education Italia, 2015. ISBN-10: 8865183683
  • Mankiw, N. Gregory; Taylor, Mark P., L' essenziale di economia. Bologna: Zanichelli, 2012. 6a Edizione Cerca nel catalogo
  • Begg, David; Vernasca, Gianluigi; Fischer, Stanley; Dornbusch, Rudiger, Microeconomia. Milano: McGraw-Hill, 2011. 4a Edizione
  • Martinelli, Isidoro, Esercizi svolti per la prova scritta di microeconomia. Napoli: Simone, 2008. Cerca nel catalogo
  • Krugman, Paul R.; Wells, Robin, L'essenziale di economia. Bologna: Zanichelli, 2018. 3a Edizione. EAN: 9788808720689 Cerca nel catalogo

Innovative teaching methods: Teaching and learning strategies
  • Lecturing
  • Problem based learning
  • Case study
  • Interactive lecturing
  • Working in group
  • Questioning
  • Problem solving
  • Active quizzes for Concept Verification Tests and class discussions
  • Use of online videos
  • Loading of files and pages (web pages, Moodle, ...)

Innovative teaching methods: Software or applications used
  • Moodle (files, quizzes, workshops, ...)
  • Kaltura (desktop video shooting, file loading on MyMedia Unipd)
  • Kahoot, Moduli Google

Sustainable Development Goals (SDGs)
No Poverty Good Health and Well-Being Quality Education Gender Equality Affordable and Clean Energy Responsible Consumption and Production Climate Action Peace, Justice and Strong Institutions