ID:
510148
Duration (hours):
66
CFU:
9
SSD:
ECONOMIA POLITICA
Year:
2025
Overview
Date/time interval
Primo Semestre (22/09/2025 - 19/12/2025)
Syllabus
Course Objectives
The objective of the course is to provide theoretical models for understanding the functioning of a macroeconomic system and the objectives and tools of economic policy. Students will acquire in-depth knowledge of the transmission of macroeconomic shocks (demand and supply shocks) and the transmission mechanisms of monetary and fiscal policies. Students will need to acquire the ability to critically apply these models for the analysis of the macroeconomic context and to evaluate its possible evolutions.
Course Prerequisites
The following basic knowledge is required: Macroeconomics, Mathematics (in particular, properties of logarithms, study of functions, constrained maximizations), Microeconomics (utility function and indifference curves, production function, returns to scale, and marginal productivity of factors), and Data Analysis (probability distributions, expected value, and measures of variability)
Teaching Methods
Lectures and student research projects.
Lectures involve presentations and explanations on the blackboard. The material is made available to students in the teaching section of the e-learning platform.
The research projects are optional and include research and an in-class presentation. Information on the research projects is made available on the e-learning platform
Lectures involve presentations and explanations on the blackboard. The material is made available to students in the teaching section of the e-learning platform.
The research projects are optional and include research and an in-class presentation. Information on the research projects is made available on the e-learning platform
Assessment Methods
There is no midterm assessment.
The exam is written and consists of 10 multiple-choice/closed questions and 2 open-ended questions. The exam evaluates the knowledge and application of macroeconomic models.
The grading scale ranges from 0 to 30 cum laude, with a passing grade at 18/30. Each multiple-choice/closed question is worth up to 1 point, and each open-ended question is worth up to 10 points.
The research projects are part of the overall evaluation and contribute from 0 to 3 points to the final score.
The exam results will be communicated via the esse3 system. Acceptance or rejection of the grade must be in accordance with the current University Academic Regulations
The exam is written and consists of 10 multiple-choice/closed questions and 2 open-ended questions. The exam evaluates the knowledge and application of macroeconomic models.
The grading scale ranges from 0 to 30 cum laude, with a passing grade at 18/30. Each multiple-choice/closed question is worth up to 1 point, and each open-ended question is worth up to 10 points.
The research projects are part of the overall evaluation and contribute from 0 to 3 points to the final score.
The exam results will be communicated via the esse3 system. Acceptance or rejection of the grade must be in accordance with the current University Academic Regulations
Texts
Materials provided by the instructor through the course e-learning page.
Contents
The course analyzes the theoretical models necessary for understanding the economic cycle, economic stabilization policies, and the determination of exchange rates in financial markets. The program is divided into two modules.
Module 1
1)The Aggregate Demand - Aggregate Supply Model
Microeconomic behaviors determining aggregate demand and supply.
2) AD - AS Equilibrium and the Propagation of Macroeconomic Shocks
Demand shocks, monetary shocks, and supply shocks and their impact on the economic system.
3) Monetary Policy
The implementation of monetary policy, the ECB (European Central Bank), and the FED (Federal Reserve).
4) Fiscal Policy
The impact of fiscal policy on the economic system and Ricardian equivalence.
5) Liquidity Trap and Unconventional Policies
The macroeconomic context in which expansive monetary policy becomes ineffective and its consequences on economic stabilization will be studied.
6) Expectations
Why and how expectations influence economic dynamics.
Module 2
1) Introduction to Exchange Rates and the Foreign Exchange Market
The characteristics of exchange rates, non-arbitrage conditions, and the role of expectations.
2) Covered and Uncovered Interest Rate Parity
The role of expectations and non-arbitrage conditions.
3) The Behavior of the Exchange Rate in the Short and Long Term: The Overshooting Theory
The mechanisms underlying exchange rate movements in the short term (CIP, UIP, Fisher effect) and in the long term (PPP).
4) Monetary Policy and Exchange Rates
The relationship between monetary policy, its transmission to interest rates, and the exchange rate.
5) Exchange Rate Crises
The first-generation model of exchange rate crises.
Module 1
1)The Aggregate Demand - Aggregate Supply Model
Microeconomic behaviors determining aggregate demand and supply.
2) AD - AS Equilibrium and the Propagation of Macroeconomic Shocks
Demand shocks, monetary shocks, and supply shocks and their impact on the economic system.
3) Monetary Policy
The implementation of monetary policy, the ECB (European Central Bank), and the FED (Federal Reserve).
4) Fiscal Policy
The impact of fiscal policy on the economic system and Ricardian equivalence.
5) Liquidity Trap and Unconventional Policies
The macroeconomic context in which expansive monetary policy becomes ineffective and its consequences on economic stabilization will be studied.
6) Expectations
Why and how expectations influence economic dynamics.
Module 2
1) Introduction to Exchange Rates and the Foreign Exchange Market
The characteristics of exchange rates, non-arbitrage conditions, and the role of expectations.
2) Covered and Uncovered Interest Rate Parity
The role of expectations and non-arbitrage conditions.
3) The Behavior of the Exchange Rate in the Short and Long Term: The Overshooting Theory
The mechanisms underlying exchange rate movements in the short term (CIP, UIP, Fisher effect) and in the long term (PPP).
4) Monetary Policy and Exchange Rates
The relationship between monetary policy, its transmission to interest rates, and the exchange rate.
5) Exchange Rate Crises
The first-generation model of exchange rate crises.
Course Language
Italian
Degrees
Degrees
ECONOMICS
Bachelor’s Degree
3 years
No Results Found
People
People (2)
Teaching staff
No Results Found