Economic Policy (2017/2018)

Course partially running (all years except the first)

Course code
Name of lecturers
Federico Perali, Martina Menon
Federico Perali
Number of ECTS credits allocated
Academic sector
Language of instruction
Secondo Semestre Triennali dal Feb 19, 2018 al Jun 1, 2018.

Lesson timetable

Go to lesson schedule

Learning outcomes

Students are introduced to the theory of welfare economics that is the core of the political economy and the rudiments of the theory of general economic equilibrium. The study material is proposed in a rigorous and analytical fashion with the students' involvement in exercise activities favoring a non-mnemonic learning by doing process.

Students are introduced to the economic theory of well-being, which offers the logical basis of economic policy, and the rudiments of the theory of general economic equilibrium. This study material enables students to experience the role of decision maker and to value the impact of public policies on miniature economies and to play an active role in designing, debating and implementing economic policies.

The study material is proposed in a rigorous and analytical fashion with the students' involvement in exercise activities favouring a non-mnemonic learning by doing process while promoting participation in the public debate in the classroom and on the discussion forum titled "The Young Political Observer " devoted to relevant and actual political economic issues.

At the end of the learning process the student will have to demonstrate that he has acquired in-depth applied knowledge and understanding skills useful for solving important economic and social problems, solid judgment autonomy, high communication skills, and excellent learning skills in order to apply such knowledge to any collective environment whether it be a party, a board of directors, an association or a family, and to be a citizen who can actively, critically and proactively participate in the new forms of participatory democracy and lead public debates argumenting in an authoritative and informed manner.


The course is organized in two modules. The topics developed in the first module examine the equity and efficiency aspects of markets under competitive conditions and in presence of failures under a liberist point of view. These notions are used in the second module devoted to economic policies regarding aspects such as market liberalization, lobbying in political institutions, the labor market reform, access to education and merit, fiscal pressure and management of public expenditure, market regulations and the provision of welfare at the local level.
More details can be found on the dedicated e-learning site.

Reference books
Author Title Publisher Year ISBN Note
Nicola Acocella Economia del Benessere. La Logica della Politica Economica. Carocci Editore 2007
Moore James General Equilibrium and Welfare Economics An Introduction Springer 2007
MAGNANI R. - PERALI F. Laboratorio di Politica Economica –- Benessere e Equilibrio Generale Tipografia La Rapida - Verona 2016
Nicola Acocella Le Politiche Microeconomiche Carocci Editore 2003
Allan Feldman, Roberto Serrano Welfare Economics And Social Choice Theory, 2nd edition Springer 2009

Assessment methods and criteria

50% Written examination, 20% class and policy forum "The Young Political Observer" participation and 30% exercises.
Students who receive a rating of less than 21 will have to pass an oral supplementary test.
Objectives of the assessment tests
The written test is intended to ascertain the knowledge of the topics presented in class and the ability to apply the logical schemes to the proposed topics.
The eventual supplementary oral examination consists of an interview aimed at developing the topics treated in the context of the written assessment and at verifying the completeness and depth of the preparation.
Participation in the classroom and in the discussion forum is verified through the active presence of the student both in class and on the dedicated forum, the propensity to debate and the quality of the argument with particular regard to the scientific readings proposed during the course. The e-learning website clearly document both forum interventions and student readings.
The analytical capacity is verified through the exercises at home both in pencil and using the Gams language in order to verify the correctness of the pencil exercises and to refine the interpretative capacity of the simulations of welfare economics and political economy carried out. The approach is like "learning by doing".
Content and method of carrying out the assessment tests
The written test potentially covers all the topics in the program delivered to the student at the opening of the course and can be consulted on the dedicated e-learning site.
The written exam is divided into groups of questions related to the main topics of the course and the exercises conducted during the lessons.
Each group of questions is associated with a score proportional to the estimated time to be spent doing the exercise or answering all questions over the two hours limit.
The supplementary oral test covers the whole program.
The final evaluation is expressed in thirty units.
Non attending and ERASMUS students are requested to contact the teacher at the beginning of the course to agree on the test verification procedures.