The course aims at supplying students with the fundamental notions for the understanding of the working of modern economies and considered as crucial even for a student of law. Special attention will be reserved to those parts of microeconomics of greater use for law students, such as the theory of externalities and public goods, asymmetric information, or the theory of imperfectly competitive markets, and the basic elements of game theory in order to enlightening the behaviour of oligopolistic markets. As far as macroeconomics is concerned, the course will provide the basic definitions related to GNP, inflation and unemployment, the debate on the Phillips curve, the law of Okun, the structure of labour market, the demand for money, the management of money supply, fiscal policy and the role of the State, the economics of the UE.

- The student will be assessed on his/her demonstrated ability to discuss the main course contents using the appropriate terminology. - During the oral exam the student must be able to demonstrate his/her knowledge of the course material and be able to discuss the reading matter thoughtfully and with propriety of expression. - The student's ability to explain correctly the main topics presented during the course at the board will be assessed. - In the written exam (not compulsory), the student must demonstrate his/her knowledge of the course material and to organise an effective and correctly written reply.

Methods:

• Final oral exam
• Periodic written tests

Further information:
For those who take the written exam (not mandatory) that will be performed in April, the oral exam will be based 50% upon the result of the written exam and the other 50% upon the oral exam. The other students will be evaluated entirely on the basis of the oral exam.