Economic policy

A.Y. 2020/2021
Overall hours
Learning objectives
At the end of the course, the student will acquire the ability to understand the objectives, the characteristics and the consequences of the main interventions of the policy authorities.
Expected learning outcomes
The Intended Learning Outcomes according to the Dublin Descriptors are the following:
· Knowledge and understanding: At the end of the course, the student will be able to describe and understand the theoretical framework and the implementation of the economic policy instruments analyzed in the course;
· Applying knowledge and understanding: At the end of the course, the student will be able to interpret and discuss the rationale and the consequences of the main policy interventions occurred in Italy and in other countries of interests;
· Making judgements: At the end of the course, the student will be able to analyze and evaluate the main economic policy problems and to give a critical interpretation of real world economic issues;
· Communication abilities: At the end of the course, the student will be able to manage the basic economic policy concepts and use the economic terminology in the proper way;
· Learning abilities: At the end of the course, the student will be able to develop her learning abilities and apply the knowledge acquired in the course in both economic and law contexts.
Course syllabus and organization

Single session

Lesson period
Second semester
Lectures will be delivered through the Microsoft Teams platform in synchronous form, and be recorded and uploaded for students' availability.
If the health situation allows it, in compliance with the current regulations, teaching can also be provided by means of face-to-face lessons (mixed mode) that will still be recorded and made available on Microsoft Teams. Students will be promptly informed of any change in teaching methods via the ARIEL website of the course.

The syllabus and the teaching materials remain the same.

Exams will be in written form with open questions and exercises. If the health situation allows it and classrooms are available, in compliance with the necessary safety conditions, the written exam will take place in the classroom. Students unable to move from their place of residence and / or domicile will still have the possibility of carrying out the exam remotely.
Detailed instructions and updates will be posted on the Ariel website of the course.
Course syllabus
The course aims to provide students with the tools necessary to understand the objectives, characteristics and consequences of economic policy decisions. After introducing the concept of economic policy and the fundamentals, motivations, main methods and limits of public intervention, four major sectors of economic policy will be addressed in detail: budget policy, monetary policy, growth policy and employment policies . For each sector, the fundamental concepts, main theoretical models and public intervention policies will be presented. At the end of the course, students will have acquired useful knowledge for assessing the effects of government intervention.

In detail:
1. An introduction to economic policy; the reasons for public intervention; the evaluation of economic policies.
2. Economic policy in an imperfect world: the limits of economic policy.
3. Budgetary policy: basic concepts; the demand side effects: Keynes and his critics; the sustainability of public debt.
4. Monetary policy: fundamental concepts; the transmission channels of monetary policy; financial stability.
5. Growth policies: fundamental concepts; the accumulation of capital; externalities, innovation and growth.
6. Employment policies: fundamental concepts; the origin of non-occupation; balance unemployment; labor market matching models.
Prerequisites for admission
Prerequisites to this course are indicated in the Study Program. Only students who had successfully passed the exam of Economia Politica can sit the exam of Politica Economica.
Teaching methods
The course consists of 21 lectures.
Teaching Resources
Macroeconomia. Una prospettiva europea
by Olivier J. Blanchard, Alessia Amighini, Francesco Giavazzi. Sections 7-8, 10-13, 21-23.
Slides uploaded in the ARIEL website by the instructor.
· Slides uploaded to the ARIEL website by the teacher.
Assessment methods and Criteria
The exam consists of a written test, with open questions and exercises.
Students may be given the possibility to sit a written intermediate test (neither mandatory nor binding).
SECS-P/02 - ECONOMIC POLICY - University credits: 6
Lessons: 42 hours
Professor: Grieco Daniela
Educational website(s)