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ECONOMICS AND APPRAISAL ELEMENTES (042AR)

A.Y. 2019 / 2020

Period 
Second semester
Credits 
6
Duration/Length 
48
Type of Learning Activity 
Related/additional subjects
Study Path 
[PDS0-2015 - Ord. 2015] common
Syllabus 
Teaching language 

Italian

Learning objectives 

The course aims to provide students the following knowledges and skills:

D1. Knowledge and understanding. At the end of the course, students will learn basic theoretical and practical references related to macro and micro economics; characteristics of production and demand for goods and services; the structure and functioning of the markets; price formation mechanisms; costs and equilibrium; economic agents' behavior ; economic decisions' analysis; "economic and monetary value" assets (public and private) valuation; valuation and maths for business and finance general principles.

D2. Applying knowledge and understanding. By the end of the course, students will be able to apply knowledges acquired in point 1, with particular attention to theoretical models analysis and economic-financial analysis application tools connected with real markets.

D3. Making judgments. By the end of the course, students will be able to work out on their own about theoretical models analysis and analytical techniques application examined during the course.

D4. Communication skills. By the end of the course, students will be able to explain, discuss and clearly apply concepts and analysis models and evaluation tools related to economic facts acquired in points 1 and 2.

D5. Learning skills. By the end of the course, students will be able to examine and debate on their own all the topics covered in the course, also by consulting specific bibliography and site texts, making up both institutional and regulatory framework and technical national and international in-depth analysis of interest.

Prerequisites 

No preliminary specific knowledges requested.

Contents 

The course will focus precisely on the following topics:

Part I - Introduction to Economics

Economic theory analysis area
Micro and Macro Economics
Determining the "economic and monetary value" of goods (public and private)
The behavior of economic agents: consumers and businesses
The analysis of economical decisions (choices): rationality in economics
The strategic analysis for business decisions
Demand and supply curve
Conditions of technical-economic efficiency of production
The structure and functioning of the markets
Price formation mechanisms
Information role
Equilibrium analysis (short and long term equilibrium)
The product / service life cycle (PLC)
Definition and classification of the concept of cost (direct, indirect, joint, social ...)
The break-even point (BEP)
Macroeconmic analysis tools.

Maths for business and finance principles:

Simple capitalization: simple interest and simple upright. Composite capitalization: composite interest, composite pillar. Constant annuality: final and initial accumulation. Unlimited constant annuities: capitalization. Interest rate test and capitalization test. Transitional and permanent income. Discount rate and discount. Reintegration and amortization charges. Bank mortgages. Deferred time values. Perpetual annuity and annuity.
(In-depth Seminar - Prof. R. Daris, University of Trieste)

Part II - Introduction to the Valuation Method

Content, Objectives and Valuation Methods
Valuation Contents and Purposes. Valuation stages. Comparison with market prices. Capitalization of income. The cost of production. The transformation value. The complementary value. The surrogation cost. The estimation procedure
The value in the estimating context
Real estate evaluation
The real estate market
The evaluation process
The evaluation criteria: the criterion at the cost of reconstruction; The market criterion; The income criterion; The direct capitalization.

Teaching format 

The course will take place through frontal lessons and seminar meetings planned with the presence of scholars and external experts in the field, with discussion and classroom computation according to the following structure:
- presentation of themes and theoretical topics;
- in-depth seminars;
- case studies;
- discussion and debate with students.

Extended Programme 

Further information and details are available on the University Moodle
Platform
http://moodle2.units.it

End-of-course test 

The assessment of learning will take place through an oral exam consisting of an individual interview to open questions on the theoretical topics covered during the lessons. Knowledges acquired by students will be verified with at least three questions regarding: markets' and economic subjects' basic operative mechanisms; main economic theories; micro and macro economic analysis; maths for business and finance tools; valuation elements and methods. The final vote is expressed in thirtieths.

Other information 

Educational materials available on the University Moodle Platform
http://moodle2.units.it

Texts/Books 

Reading list:

Borghi A. (2009), Finanza immobiliare. Il mercato, la valutazione, gli strumenti e le tecniche di finanziamento, EGEA Edizioni, Milano.
Cipolotti G. B. (2010), Estimo generale e immobiliare, Collana Studi e Progetti, Libreriauniversitaria.it Edizioni, Padova.
Cozzi T., Zamagni S. (2004), Istituzioni di economia politica. Un testo europeo, Il Mulino, Bologna.
Frank Robert H., Bernanke Ben S. (2004), Principi di Economia, McGraw-Hill, Milano.
Gallerani V., Zanni G., Viaggi D. (2004), Manuale di Estimo, McGraw-Hill, Milano.
Grant Robert M. (2011), L’analisi strategica per le decisioni aziendali, Il Mulino Edizioni, Bologna.
Polelli M. (2008), Trattato di Estimo, Maggioli Editore, Rimini.
Thuesen Gerald J., Fabrycky Wolter J. (2003), Economia per ingegneri, Il Mulino Edizioni, Bologna.

Other materials

Chrystal K. A., Lipsey R. C. (2001), Principi di economia, Zanichelli, Bologna.
Crescentini G. (2004), Trattato di pratica catastale. Catasto dei fabbricati, Nona edizione, Maggioli Editore, Rimini.
Jackson T. (2011), Prosperità senza crescita. Economia per il pianeta reale, Collana – Saggi -, Edizioni Ambiente.
Mazzucato M. (2018), Il valore di tutto. Chi lo produce e chi lo sottrae nell'economia globale, Editori Laterza, Bari.
McConnell Campbell. R., Brue Stanley. L. (1994), Economia, McGraw-Hill, Milano.
Michieli I., Michieli M. (2002), Trattato di Estimo, Edagricole, Bologna.
Pongiluppi G. (2002), Strumenti matematici per le operazioni di stima dell’estimo civile, Edizioni Clueb, Bologna.
Simonotti M. (1997), La stima immobiliare, UTET, Torino.
Stellin G., Rosato P. (1998), La valutazione economica di beni ambientali. Metodologia e casi di studio, CittàStudi Edizioni.

Amicabile S. (2004), Manuale di estimo. Estimo civile, rurale, legale, ambientale, catastale, Hoepli.
Becchetti L. (2014, Wikieconomia. Manifesto dell'economia civile, Il Mulino, Bologna.
Begg D., Fischer S., Dornbusch R. (2006), Introduzione all'economia. Gli operatori, i mercati e il sistema economico, Collana Economia, Hoepli Edizioni, ISBN: 9788820334949.
Costa M. (2015), Psicologia ambientale e architettonica. Come l'ambiente e l'architettura influenzano la mente e il comportamento, Franco Angeli, Milano.
Cozzi T., Zamagni S. (2004), Istituzioni di economia politica. Un testo europeo, Il Mulino, Bologna.
Grillenzoni M, Grittani G. (1994), Estimo. Teoria, procedure di valutazione e casi applicativi, Calderoni, Bologna.
Luigi Fusco Girard, Peter Nijkamp (1997), Le valutazioni per lo sviluppo sostenibile della città e del territorio, Franco Angeli, Milano.
Medici G. (1972), Principi di Estino, Ed. Calderini, Bologna.
Mullainathan S., Shafir E. (2014), Scarcity. Perché avere poco significa tanto, Il Saggiatore, Milano.
Napoli G. (2007), Teoria e pratica dei capitali urbani. La forma temporale e monetaria della città, Collana Urbanistica, Franco Angeli, Milano.
Pearce David W., Turner R. Kerry, (1991), Economia delle risorse naturali e dell'ambiente, Il Mulino, Bologna.
Realfonzo A. (1994), Teoria e metodo dell’estimo urbano, Nuova Italia Scientifica.
Ridley M. (2013), Un ottimista razionale. Come evolve la prosperità, Le Scienze, Codice Edizioni, Torino.
Rifkin J. (2017), La società a costo marginale zero. L'internet delle cose, l'ascesa del "Commons" collaborativo e l'eclissi del capitalismo, Ar


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