EC/0085 - APPLIED ECONOMICS
Academic Year 2021/2022
Free text for the University
STEFANO USAI (Tit.)
FREDERICK DEXTER GUY
- Teaching style
- Lingua Insegnamento
|[11/80] MANAGEMENT||[80/30 - Ord. 2018] International Management||9||54|
Coursework provides students with a solid understanding of theoretical and empirical models of development economics mixed with a few focus on some elements of the current environment of globalization.
Moreover, students are introduced to some basics of economic growth theory. In particular, after having investigated the many reasons that explain the differences in wealth and welfare in the world, and the corresponding differences in growth rates, we will focus on the themes linked to the causes that derive from the localization of productive and innovative activities.
Firstly, we aim at answering the following main question: Why are some countries rich and others poor? How can we measure such a gap and how can we analyse and assess the relationship between different socioeconomic phenomena: some of which are causes and others are outcomes. Students are introduced to the latest theoretical and empirical tools, with a particular focus on data, indicators and basic statistical tools to get a rigorous insight on these pivotal questions. By showing how empirical data relate to new and old theoretical ideas, this course provides students with a complete introduction to the discipline and the latest research.
Secondly, the course offers a multi-dimensional analysis of the environment in which international business operates. We will try to see how multi-national corporations, nation states, regional trade blocs, markets, and global institutions interact to shape the international economic system. In particular, we try to identify winners and losers of the globalization process and to assess if internationalization is leading to a global world, or a regional one.
In line with the Dublin Descriptors, the learning skills acquired at the end of the course can be classified as follows:
1) Knowledge and understanding. The course allows students to study different specialized topics in economics, as presented in the literature. The objective is to analyze with students the capacity of economic framework and models to explain patterns of data both along time and across space, and to understand the role of market regulations. In general, the objective is to evaluate the content of reforms and of good managerial practices as advocated at the international level.
2) Capacity of applying knowledge and understanding. The topics presented in class will be analysed using real data and appropriate statistical models for data analysis. The objective is to make students able to understand the workings, the dynamics and the decisions tools within firms and to make meaningful economic decisions and forecast their effects in their future professional career.
3) Making judgements. During classes, students will be asked to give their technical opinion on real decisions, policies and reforms. This will be done under different points of view, trying to operate as in the real world, and thinking of the real impact of such policies/practices. Basic and real information and data will be made available in order to have the necessary knowledge to make appropriate investigation and make adequate decision.
4) Communication skills. Students will be encouraged to actively participate in class by discussing their opinions and showing capacity of speech, motivation and reciprocal exchange of ideas with the other students. In this respect, additional material presented in the classes will allow students to improve their communication skills, as requested in the final exam.
5) Learning skills. The use of real cases, theoretical explanations and additional activities will allow students to increase their learning skills that will be used in their academic and professional career.
Students should know the basic principles of Economic Analysis, Micro and Macroeconomics.
Standard statistical tools will be useful to familiarize with the topics discussed during the course.
Even though not formally required, students attending the course are expected to have acquired the basic notions in Economics (“useful”) and Statistics (“useful”).
The course aims to offer a solid base of knowledge on the main empirical and theoretical issues of development economics and the global economy. The issues of localization and delocalization of productive and innovative activities worldwide will also be dealt with.
The course consists of lectures and workshops in which there will be as much interaction as possible between students and teacher and among students themselves.
The program includes presentations by students divided in groups, discussion of written reports prepared by students
Verification of learning
The evaluation will take place through a written exam (50%) and two assessments during the course (25% each). Students will have to prepare a written report and to present a specific study to the class.Students that will write the report and present a study to the class can choose to answer just two out of four questions at the final exam. [30 minutes per question].
The final exam consists of four open questions (closed books) on the topics taught in the course. Students that will not present the report and study to the class will be required to write the entire exam (4 questions instead of 2).
The report refers to a short document of presentation of a country / region / sector for a potential customer, be it a public or a private company
Presentations: 15 minutes power point of one study assigned by the Professor or chosen by the student (and approved by the Professor) on European Policy issues
Ability in economic reasoning, managing formal tools and appropriate economic language are also evaluated.
All classes and additional material, along with notes and reference books, are necessarily needed for the full completion of the exam.
In line with the Dublin Descriptors, the evaluation process aims also to verify:
1) the ability to identify the firm, sectoral, regional and economic scenario from different perspectives.
2) the capacity to discuss the economic facts and to relate them to the tools presented in classes or individually studied.
3) the capacity to implement and motivate a particular intervention both at the firm and aggregate level and its adoption, and show the short- and long-run real effects arising due to the intervention.
4) the capacity of sinthesizing the economic facts and to provide economic intuitions and rationale.
5) the knowledge of empirical models presented in class.
Final mark is expressed through a 30-point scale. A Student presentation is scheduled at the beginning of January, the final mark will be the average between presentations and written exam. Students that have presented in the class must complete the exam within the summer section.
A passing mark ranges:
- from 18/30: if the student shows a sufficient level of knowledge, that is he/she is able to at least identify the economic situation, knows the basic elements to draw the appropriate conclusions, and expresses comments with an elementary technical language.
- to 30/30, possibly cum laude, if the student is able to schematize in a logic and coherent way the knowledge acquired during the course, namely all the series of effects produced by the adoption of a pratices and policies, and the associated real effects for firms and economies, and supports the analysis with an outstanding technical representation, and comments the facts with an excellent use of technical language.
Main readings are taken from
Economic Growth, 3/Edition (2013), Pearson by David N. Weil
The Global Environment of Business (2009), Oxford University Press by Frederick Guy
Other readings are taken from
Multinational and Economic Geography (2013) Edward Elgar , by Iammarino and McCann
Investing in Europe Future, European Commission
EUROPE 2020, A strategy for smart,sustainable and inclusive growth, European Commission