ECONOMIC POLICY
Academic year and teacher
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- Versione italiana
- Academic year
- 2022/2023
- Teacher
- CATERINA COLOMBO
- Credits
- 8
- Didactic period
- Secondo Semestre
- SSD
- SECS-P/02
Training objectives
- The course aims at presenting some of the most relevant issues in the analysis of macroeconomic policy within the competing macroeconomic paradigms.
At the end of the corse the student is able to analyse various macroeconomic policies and their macroeconomic effects. Prerequisites
- The knowledge of the main topics developed in the courses of Economics I (macroeconomics) and Economics II (microeconomics) is strongly recommended.
Course programme
- Part 1 (10 hours)
The theory of economic policy
Positive and normative economic models
Instruments and objectives of economic policy
Part 2 (22 hours)
Macroeconomic theories and the effects of economic policies
The debate about the effectiveness of stabilization policies
Lucas' Critique
Part 3 (12 hours)
Dynamic inconsistency: credibility, reputation, rules versus discretion
Part 4 (12 hours)
Monetary policy in the European Monetary Union
The European Central Bank Didactic methods
- Lectures and seminars.
Learning assessment procedures
- Written examination.
The course exam is devoted to test the level of achievement of the previously indicated training objectives. The exam consists of four open-ended questions aiming at verifying the knowledge of all the topics of the course. The written exam takes two hours.
The final grade is the sum of the scores of all questions (the maximum score for each question is 7,5). To pass the exam the student must obtain a minimum score of 18. Reference texts
- Marelli E. Signorelli M. (2022) Politica economica. Le politiche nel nuovo scenario europea e globale, Terza Edizione, Giappichelli.
Cellini R. (2019), Politica economica. Introduzione ai modelli fondamentali, 3. ed, McGraw-Hill.
De Grauwe P. (2022), Economia dell’unione monetaria, Dodicesima edizione, Il Mulino.
Further material will be available during the course
