ECONOMICS APPLIED TO ENGINEERING F - O
Academic Year 2026/2027 - Teacher: MARIA ROSA TROVATOExpected Learning Outcomes
The course aims to provide basic knowledge for understanding micro and macroeconomic issues; To interpret the structure of the enterprise and its decision-making and management control processes as well as the issues related to competitive strategies
The course will also enable you to acquire knowledge of financial mathematics; principles of assessment science, economic and financial assessment of investment projects; use of the most important criteria of choice.
Dublin Descriptors
Knowledge and understanding:
Passing the module examination implies that the student has acquired:
- knowledge of the theoretical and practical aspects of micro- and macroeconomic issues;
- knowledge of corporate structure and related decision-making and management control processes.
- knowledge of financial mathematics aimed at supporting the economic and financial evaluation of investment projects and investment evaluation criteria.
- knowledge of issues relating to corporate strategic planning.
The ability to apply knowledge and understanding:
Passing the course examination implies that the student has acquired the ability to:
- understand micro- and macroeconomic issues.
- understand the structure of a business, its decision-making processes, and its management control systems.
- evaluate investment projects.
- understand issues relating to strategic business planning.
The role of education in achieving the objectives of the 2030 Agenda for Sustainable Development:SDG 8: Decent work and economic growth; SDG 9: Industry, innovation and infrastructure; SDG 11: Sustainable cities and communities; SDG 12: Responsible consumption and production.
Course Structure
The course uses a teaching methodology that includes lectures and practical sessions.
Theory lectures are held in the classroom and practical sessions are conducted using teaching materials made available to students on Studium at the start of the course and throughout.
Practical sessions will be conducted using the Connect-McGraw Hill educational platform.
If it becomes necessary to deliver the course via blended or distance learning, measures will be taken to ensure that the programme set out in the syllabus is delivered as planned.
Required Prerequisites
Attendance of Lessons
Detailed Course Content
PROGRAM OF THE COURSE
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Topics |
References to the texts |
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1. PRINCIPLES OF ECONOMY Economic science and the economy *. |
Text 1: chapters 1 (Lesson notes) |
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2. MICROECONOMICS* Demand, supply and operation of the market. The utility-based theory of demand; the theory of consumer behavior and indifference curves; demand elasticity. |
Text 1: chapters 2, 3, and 4 (Lesson notes)
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3. MICROECONOMICS * The theory of production: the production function. Production costs. Functions of short and long-term costs. Returns to scale |
Text 1: chapter 5 and 6 (Lesson notes)
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4. MICROECONOMICS * Market structure and business behavior (maximization of economic profit): fundamental characteristics and short and long-term balance in the following market forms: perfect competition, monopoly, oligopoly and monopoly competition. |
Text 1: chapters 7,8 and 9 (Lesson notes)
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5. INTRODUCTION TO ECONOMIC WELFARE * Fairness and efficiency. Perfect competition and Paretian efficiency. The general economic equilibrium theory and the Edgeworth box. Externalities, the environmental economy. |
Text 1: cap. 10 (Lesson notes)
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6. MACROECONOMICS* Macroeconomic variables. Monetary variables. Economic policy. Fiscal policy. Monetary policy. |
Text 1: chapter 11 (Lesson notes)
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hours: approximately 20 hours |
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7. THE COMPANY AND THE DECISION AND MANAGEMENT CONTROL PROCESSES: GENERAL ACCOUNTING, FINANCIAL STATEMENTS AND STRATEGIC PLANNING Company, business and entrepreneur. Legal forms of the company. Business informative system. Management and detection of administrative facts *. The capital of the company under the qualitative and quantitative aspect *. The Annual financial statements: the balance sheet and the income statement*. Principles of preparation of the statutory financial statements. Business analysis by indices, margins and flows *. The strategic planning process *. |
Text 1: chapters 12, 13, 14, 15, 16, 17, 18, 19 and 20 (Teaching materials)
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hours: approximately 18 hours |
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8. ECONOMIC AND FINANCIAL ASSESSMENT OF INVESTMENT PROJECTS * Elements of financial mathematics. Financial analysis (1). Main methods of investment selection: Net Present Value (NPV); the Internal Rate of Return (TIR); comparative analysis between the VAN method and the TIR method; Average recovery period (PBP); Accounting rate of return (TRC) and Discounted cash flow. Cost-benefit analysis and cost-income analysis principles (2). |
Text 1: chapters 21 and 22 (Teaching materials)
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hours: approximately 10 (1) + 6(2) hours |
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9. THE STRATEGIC PLANNING PROCESS Strategic planning: Corporate mission, objectives and strategies, and a portfolio of corporate activities. |
Text 1 1: chapter 23 (Teaching materials)
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hours: approximately 4 |
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Textbook Information
Course Planning
| Subjects | Text References | |
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| 1 | 1. PRINCIPLES OF ECONOMY Economic science and the economy *. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.chapters 1 (Lesson notes) |
| 2 | MICROECONOMICS* Demand, supply and operation of the market. The utility-based theory of demand; the theory of consumer behavior and indifference curves; demand elasticity. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.chapters 2, 3, and 4 (Lesson notes) |
| 3 | MICROECONOMICS * The theory of production: the production function. Production costs. Functions of short and long-term costs. Returns to scale. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.chapter 5 and 6 (Lesson notes) |
| 4 | MICROECONOMICS * Market structure and business behavior (maximization of economic profit): fundamental characteristics and short and long-term balance in the following market forms: perfect competition, monopoly, oligopoly and monopoly competition. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.chapters 7,8 and 9 (Lesson notes) |
| 5 | INTRODUCTION TO ECONOMIC WELFARE * Fairness and efficiency. Perfect competition and Paretian efficiency. The general economic equilibrium theory and the Edgeworth box. Externalities, the environmental economy. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.cap. 10 (Lesson notes) |
| 6 | MACROECONOMICS* Macroeconomic variables. Monetary variables. Economic policy. Fiscal policy. Monetary policy. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.chapter 11 (Lesson notes) |
| 7 | THE COMPANY AND THE DECISION AND MANAGEMENT CONTROL PROCESSES: GENERAL ACCOUNTING, FINANCIAL STATEMENTS AND STRATEGIC PLANNING Company, business and entrepreneur. Legal forms of the company. Business informative system. Management and detection of administrative facts *. The capital of the company under the qualitative and quantitative aspect *. The Annual financial statements: the balance sheet and the income statement*. Principles of preparation of the statutory financial statements. Business analysis by indices, margins and flows *. The strategic planning process *. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.chapters 12, 13, 14, 15, 16, 17, 18, 19 and 20 (Teaching materials) |
| 8 | ECONOMIC AND FINANCIAL ASSESSMENT OF INVESTMENT PROJECTS * Elements of financial mathematics. Financial analysis. Main methods of investment selection: Net Present Value (NPV); the Internal Rate of Return (TIR); comparative analysis between the VAN method and the TIR method; Average recovery period (PBP); Accounting rate of return (TRC) and Discounted cash flow. Cost-benefit analysis and cost-income analysis principles. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.chapters 21 and 22 (Teaching materials) |
| 9 | THE STRATEGIC PLANNING PROCESS Strategic planning: Corporate mission, objectives and strategies, and a portfolio of corporate activities. | TROVATO M.R. (a cura di) (2025), Economia Applicata all'Ingegneria. CREATE. McGraw-Hill, Milano + Connect, ISBN: 9798219039072.chapter 23 (Teaching materials) |
Learning Assessment
Learning Assessment Procedures
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There are two examination methods: a) and b) |
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a) Exam test |
Oral and written examination is scheduled. |
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b) Ongoing assessments (reserved only for students who attend at least 70% of the course lectures) |
The assessment of learning may also be carried out electronically, if conditions so require. Exam sates: Available on the website: www.ing.unict.it How to register for an exam session: The reservation for the exam session is mandatory and must be carried out exclusively through the Student Portal, within the scheduled period.
The ongoing assessments will serve to evaluate learning on the various topics covered by the programme and will consist of theoretical questions and exercises.
There will be four short ongoing assessments, which will cover the following learning areas: financial mathematics, microeconomics and macroeconomics, accounting and financial statements, investment evaluation and strategic planning.
All the dates of the ongoing tests will be communicated at the beginning of the course. How to book ongoing tests Booking for ongoing tests is compulsory and will be taken during lessons.
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Examples of frequently asked questions and / or exercises
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Examples of frequently asked questions and / or exercises |
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1. Theory of consumer choice: analytical and graphic solution. 2 Technical problems of the producer: analytical and graphic solution. 3. Economic problem of the producer (perfect concurrent market, of monopoly competition, monopoly, and oligopoly): analytical and graphic solution. 4. Business costs (short and long term) and relationship between cost curves. 5. Macroeconomic variables. Monetary variables. 6. Corporate information system. Double-entry system. 7.Financial statement: purpose, structure and drafting principles. 8. Budget analysis: indices, margins, flows. 9. Strategic planning: strategic plan, Abel Model, Ansoff Matrix, Boston Matrix, General Eletric Matrix. 10.Assessment of investments: VAN, TIR, PBP, TRC and Discounted Cash flow. 11. Exercise of financial mathematics. 12. Accounting accounting exercise. |
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* Essential knowledge that can not be renounced for passing the exam |
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