Provide the basic elements to understand the functioning of the economic system at both the micro and macroeconomic levels. Illustrate the company's economic management tools: the financial statements and industrial accounting.

D1 - Knowledge and ability to understand: The student must have understood the theoretical basis of the economics of supply and demand as well as the functioning of the main market typology. He/she must also have acquired the basic knowledge of macroeconomics and management control of the business system..

D2 - Ability to apply knowledge and understanding: The student must be able to apply the knowledge acquired to interpret the fundamental aspects of supply and demand for economic goods and the impact of macroeconomic factors. He / she must also be able to read the company's financial statements and interpret the main efficiency indices. Finally, He / she will have to know how to estimate the cost industrial products.

D3 - Autonomy of judgment: The student must be able to independently formulate assessments on the economic situation and on the performance of the company.

D4 - Communication skills: The student must be able to adequately communicate the results of his assessments by adopting an appropriate technical language.
D5 - Learning skills: The student must be able to independently update and expand their ability to analyze the general economic situation and business performance in the light of the evolution of the discipline.

None

The course is focused on basic economics and business economics training

Campisi D., Costa R., Mancuso P., Morea D. (2021) Principi di Economia Applicata all’Ingegneria. HOEPLI, Milano.
Supplementary material distributed by the teacher

The course is organized in two parts.
PART A - ELEMENTS OF ECONOMICS
Consumption and demand theory
Basic concepts: need, good, utility
The nature of economic goods: rivalry and excludability in consumption
The circular economic system: Production / Consumption
Consumer equilibrium
The consumer's welfare
The aggregate demand function
The elasticity of demand at the price of the good, at the income and at the price of other goods
Theory of production and supply
Basic concepts: company, business, entrepreneur
The supply and the objectives of the company
Production and factors of production
The costs of production: fixed and variable, private and social, accounting and opportunity cost
The supply function in the medium and long term
Production optimization: a primal approach
The aggregate supply function and its market price elasticity
Competitive and non-competitive market theory
The main forms of the market: determining factors
The free competition market
The equilibrium of the free competition market
The monopoly market: main characteristics
The equilibrium of the monopoly market
The monopsony market: main characteristics
The equilibrium of the monopsony market
The bilateral monopoly: main characteristics
The "missing" equibrium of the bilateral monopoly
The oligopoly market: main characteristics
Price formation in the oligopoly market
The monopolistic competition market: main characteristics
Price formation in the monopolistic competition market
Elements of macroeconomics
Areas of interest of macroeconomics
The economic system extended to the role of the state and the financial system
Aggregate demand and aggregate supply
The macroeconomic balance
The Income-Expenditure model
The IS-LM model
Inflation

PART B - BUSINESS ECONOMICS
The financial statements
The balance sheet
The income statement
Profitability indices
Principles of industrial accounting
The company's socio-environmental balance

Theoretical lessons and exercises

All presentations and supplementary material for exam preparation will be available on Moodle

The evaluation of the student's knowledge takes place through written tests during which he will be asked to: a) solve simple exercises of microeconomics and financial mathematics; b) illustrate the main problems and models of macroeconomics; c) demonstrate knowledge of the financial statements and related efficiency indices; d) know the basics of industrial accounting with particular reference to the formation of the cost of production. The knowledge of the topics of the course and of the student's communication skills can also be ascertained in itinere during the course through theoretical written tests at the end of the module of Principles of Economics and the module of Business Economics.

During the course the social and environmental sustainability of business activities will be highlighted.