Download Economic Policy (Course B)

Economic Policy (Course B)
PROFESSORS PAOLO RIZZI- SILVIA PLATONI
Module I – Institutions of Economic Policy
PROFESSOR PAOLO RIZZI
COURSE AIMS
To supply the student with theoretical explanations that are the basis of public
economic policy, analysing the principal objectives of the policy, in both
micro and macro terms, and the tools normally used.
LEARNING OUTCOMES
- Capacity to understand the different reasons explaining public-sector
intervention in the economy.
- Capacity to judge the different impact that the individual economic-policy
instruments might have on individuals and businesses.
- Capacity to judge the impact of economic policy on the competitive capacity
of an entire economic system.
COURSE CONTENT
Fundamentals of economic policy.
- Theoretical aspects.
- Microeconomic and macroeconomic objectives.
- Economic-policy instruments.
The fundamentals of welfare economics.
- Pareto criterion.
- Welfare economics: fundamental theorems.
- The school of economic policy.
Market failures.
- Market power and antitrust policies.
- Externalities.
- Public goods and merit goods.
- Information asymmetries.
Policies for re-distribution of income.
- Social welfare.
- Industrial policies.
- Regional policies.
READING LIST
R. CELLINI, Politica Economica. Introduzione ai modelli fondamentali, McGraw-Hill, Milano, 2011.
Module II - Monetary Economics
PROFESSOR SILVIA PLATONI
COURSE AIMS
To supply basic knowledge on the key aspects of monetary policy, with a special focus on (i) the instruments and
objectives of monetary authorities and (ii) the monetary policy transmission mechanism.
LEARNING OUTCOMES
Capacity to analyse the monetary sector of the economy, and the short- and long-term effects of monetary policy on the
financial markets and the real economy.
COURSE CONTENT
1) Money (role and origin), financial assets and financial markets.
2) Contracts and financial intermediaries.
3) Money demand: quantitative theory, Keynes, Tobin, Friedman, Baumol and Tobin, Miller e Orr.
4) Money supply and the interbanking market.
5) The money supply control and the monetary policy objectives.
6) Credit rationing.
7) Monetary policy theory: IS-LM/AS-AD, factions and modern approach.
8) Transmission schemes.
9) Central banking.
10) Exchange rates and open economy.
READING LIST
A.
B.
The recommended book for attendant students is S. SPAZIANI, Compendio di Economia Monetaria, Edizioni Simone, 2012.
The recommended book for no-attendant students is G.B. PITTALUGA, Economia Monetaria, Moneta - Istituzioni - Stabilità, 4a
ed., Hoepli, Milano, 2012:
for point 1) sections 1.1-1.7, 2.2-2.4;
for point 2) sections 2.6-2.7, 2.9, 3.2-3.5, 3.9-3.11;
for point 3) sections 4.1-4.9;
for point 4) sections 5.1-5.3, 5.4.3-5.5;
for point 5) sections 9.2, 5.4 (5.4.1-5.4.2), 4.8, 5.7-5.9, 8.1-8.5;
for point 6) section 5.6;
for point 7) sections 6.2-6.3, 7.6, 7.4-7.5, 6.5, 7.7-7.8, 9.3, 6.8, 7.9, 6.7;
for point 8) sections 6.2-6.3, 6.5-6.6;
for point 9) sections 9.1, 10.1, 9.3-9.5, 9.2, 9.6-9.7, 12.6, 9.8, 10.2-10.9;
for point 10) sections 11.1, 11.3-11.6, 12.1-12.5.
TEACHING METHOD
Lectures.
ASSESSMENT METHOD
Written exams.
NOTES
Attendance at lectures is not compulsory, but is strongly recommended.
Further information (i.e. consulting hours) can be found on the Faculty notice board.