Monetary and Political Economics
A.Y. 2023/2024
Learning objectives
The main objective of the course is to enable the student to understand the role of monetary and credit variables in modern economic systems, both in a domestic and international perspective. The value of the currency, the reasons for its demand, the methods of supply, the behavior of central banks and the effects of monetary policy on financial markets and macroeconomic variables are examined in depth. Furthermore, the banking system and financial intermediaries are analyzed with particular attention to the rules of conduct and controls to which, also given its monetary function, it is subjected.
Expected learning outcomes
- Knowledge and understanding skills: the students will develop knowledge and will have to demonstrate understanding of the mechanisms that underlie the choices of financial operators in the different markets and the monetary rules for the functioning of a national economy;
- Application skills: during the frontal lessons will be offered the possibility to apply knowledge and understanding through the proposal of simple and practical economic problems that will be solved in the classroom with the involvement of the students;
- Autonomy of judgment: the student, through the knowledge and competences acquired, will then be able to analyze, evaluate and comment in a conscious and critical way, with autonomy of judgment, the main banking and monetary facts, as well as news and reports on economics presented by the media;
- Communicative skills: the student will have to develop communication skills by participating with awareness and language properties in the debate proposed in the classroom on economic issues. This ability must, however, emerge during the written evaluation;
- Learning skills: knowledge of the proposed program will enable students to develop their learning capacities in relation to the study both of other economic and legal disciplines
- Application skills: during the frontal lessons will be offered the possibility to apply knowledge and understanding through the proposal of simple and practical economic problems that will be solved in the classroom with the involvement of the students;
- Autonomy of judgment: the student, through the knowledge and competences acquired, will then be able to analyze, evaluate and comment in a conscious and critical way, with autonomy of judgment, the main banking and monetary facts, as well as news and reports on economics presented by the media;
- Communicative skills: the student will have to develop communication skills by participating with awareness and language properties in the debate proposed in the classroom on economic issues. This ability must, however, emerge during the written evaluation;
- Learning skills: knowledge of the proposed program will enable students to develop their learning capacities in relation to the study both of other economic and legal disciplines
Lesson period: First semester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Single session
Responsible
Lesson period
First semester
Course syllabus
The course is divided into three parts.
The first part presents introductory concepts and reviews basic macroeconomics elements. In particular it is devoted to analysing mechanisms by which monetary policy influences are transmitted to the real sector of the economy and to the analysis of the role played by financial intermediaries in the transmission process.
The second part of the course is dedicated to the European Monetary Union, and therefore to the operational strategy of the European Central Bank and to the economic and political problems that this institution involves.
In the third part of the course the attention shifts in detail to the analysis of the ways in which the regulation of the financial system takes place. The specificities of financial intermediation and the operators performing this function justify the existence of a wider system of controls than that which concerns other forms of economic activity. It is therefore possible to analyze the motivations and objectives of the regulation on financial intermediaries by "translating" the general requirements of the state's regulatory intervention in the economy in the fundamental objectives of financial market regulation.
The first part presents introductory concepts and reviews basic macroeconomics elements. In particular it is devoted to analysing mechanisms by which monetary policy influences are transmitted to the real sector of the economy and to the analysis of the role played by financial intermediaries in the transmission process.
The second part of the course is dedicated to the European Monetary Union, and therefore to the operational strategy of the European Central Bank and to the economic and political problems that this institution involves.
In the third part of the course the attention shifts in detail to the analysis of the ways in which the regulation of the financial system takes place. The specificities of financial intermediation and the operators performing this function justify the existence of a wider system of controls than that which concerns other forms of economic activity. It is therefore possible to analyze the motivations and objectives of the regulation on financial intermediaries by "translating" the general requirements of the state's regulatory intervention in the economy in the fundamental objectives of financial market regulation.
Prerequisites for admission
The exam of Political Economy is a prerequisite for this course.
Teaching methods
Class lectures.
Teaching Resources
Blanchard, Macroeconomia, il Mulino, G. Pittaluga, Economia Monetaria, Milano, Hoepli, ultima edizione; G. Ciccarone - C. Gnesutta, Moneta e finanza nell'economia contemporanea. Agenti, mercati, politiche, Roma, Carocci. Per la seconda parte invece: P. De Grauwe, Economia dell'Unione Monetaria, Bologna,
Additional teaching material (i.e. lectures slides) will be uploaded on the ARIEL website during the course.
Additional teaching material (i.e. lectures slides) will be uploaded on the ARIEL website during the course.
Assessment methods and Criteria
The exam consists of a written test with both open-ended and multiple-choice questions. Optionally, for those taking the course, it is possible to give a presentation on current topics pertaining to Monetary Economics and International Macroeconomics, which will help increase the final grade up to a maximum of four points.
Professor(s)