Economic policy

A.Y. 2020/2021
Overall hours
Learning objectives
· Conoscenza e capacità di comprensione: gli studenti matureranno conoscenze e dovranno dimostrare comprensione sia degli schemi teorici utilizzati dalle scuole di pensiero dominanti che delle politiche implementate nei settori della politica economica oggetto del corso.
· Capacità applicative: gli studenti saranno dotati di strumenti concettuali e analitici di interpretazione dei principali interventi di politica economica che permettano di comprendere i problemi attuali dell'economia italiana e gli obiettivi e le modalità operative di funzionamento della politica economica nel nostro paese.
Expected learning outcomes
Lo studente che abbia proficuamente appreso la materia avrà acquisito gli strumenti necessari alla comprensione degli obiettivi, delle caratteristiche e delle conseguenze delle decisioni di politica economica.
Course syllabus and organization

Single session

Lesson period
Second semester
In case the health emergency would last until the second semester of the academic year 2020-21, lectures will be delivered through the Microsoft Teams platform either in synchronous and asynchronous forms (they will be recorded and uploaded for students' availability).

The syllabus and the teaching materials remain the same.

Exams will be in oral form through Microsoft Teams or, if allowed, in-person and in written form.
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.
7. Open economy. Real and financial markets in an open economy. Exchange rates and trade policies.
Prerequisites for admission
Only students who had successfully passed the exam of Economia Politica can sit the exam of Politica Economica.
Teaching methods
The course consists of 32 lectures.
Teaching Resources
Macroeconomia. Una prospettiva europea
by Olivier J. Blanchard, Alessia Amighini, Francesco Giavazzi. Sections 7-8, 10-13, 17-23.
Slides uploaded in the ARIEL website by the instructor.
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: 9
Lessons: 63 hours
Professor: Grieco Daniela