Programma

Part I: Surplus approach
1. The notion of surplus
2. The capitalist mode of production
3. Sraffa’s theory of prices
4. The integrated wage-commodity sector and the surplus equation

Part II: Marginalist approach
5. The marginalist theory of distribution
6. Capital as a factor of production

Part III: Macroeconomic implications
7. Keynes and the principle of effective demand
8. International trade

Testi Adottati

Teaching material and course slides downloadable from MS Teams and Moodle
Fratini, S.M. (2020) ‘Incomes from capital in alternative economic theories.’ In P. De Muro, S.M. Fratini & A. Naccarato (eds), Economics, Policy and Law. Roma: Roma Tre-Press.
Garegnani, P. (1978-79) ‘Notes on consumption, investment and effective demand’, part. I and II, Cambridge Journal of Economics, vol. 2, pp. 335-353 and vol. 3, pp. 63-82.
Samuelson, P.A. (1962) ‘Parable and realism in capital theory: The surrogate production function.’ Review of Economic Studies, 29(3), pp. 193-206.
Sraffa, P. (1960) Production of Commodities by Means of Commodities. Cambridge University Press: Cambridge.

Modalità Valutazione

The course assessment consists of an oral exam.