Course 2024-2025 a.y.

20512 - ECONOMICS AND POLICY OF GLOBAL MARKETS

Department of Social and Political Sciences

Course taught in English

Class timetable
Exam timetable
Go to class group/s: 14
GIO (9 credits - II sem. - OB  |  3 credits SECS-P/12  |  6 credits SECS-P/02)
Course Director:
CARLO ALTOMONTE

Classes: 14 (II sem.)
Instructors:
Class 14: CARLO ALTOMONTE


Suggested background knowledge

Basic knowledge of Macroeconomics.

Mission & Content Summary

MISSION

The course aims at understanding the working of the global economy, its governing Institutions, and its reaction to shocks (health, financial or military crises), focusing on the elements driving economic growth. The aim of the course is to provide the theoretical, empirical and historical tools useful to grasp the essential features of the discussed problems. Throughout the course, special attention is given to a thorough understanding of the process of European integration, compared to other countries in the world.

CONTENT SUMMARY

The course is divided in three modules:

  1. A first module provides a critical discussion of long-run economic scenarios focusing on three main issues: economic growth models (with an application to the case of China), regional divergence with Europe (and the policies to contrast it), and labour markets.
  2. A second module analyses in details the economics of the business cycle and the role of fiscal and monetary policies in shaping it, with a particular attention to the process of European integration.
  3. A third module looks at the institutional and historical features of economic crises.

Intended Learning Outcomes (ILO)

KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...
  • Understand the drivers of countries' growth in the long run.
  • Understand the dynamics of the labor market.
  • Use basic macroeconomic models to forecast the possible evolution of the business cycle across countries.
  • Recognize the impact on the business cycle of economic shocks and policy (fiscal and monetary) responses.
  • Assess the implications of economic crises (Covid-19, finance, geopolitical shocks) on countries, with a particular focus on the European Union.
  • Assess the role of historical events and institutions in driving the current evolution of global markets.

APPLYING KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...
  • Apply the theoretical, empirical and historical tools developed in the course in order to grasp the essential features and evolution of global markets and their reaction to crises.

Teaching methods

  • Face-to-face lectures
  • Exercises (exercises, database, software etc.)
  • Group assignments

DETAILS

The group assignments (up to 3 students) covers the content of the second part of the Group.

The topics complement those discussed in Face-to-Face lectures.

Specific exercises on the models developed in Part I of the course help students in their mastering of economic concepts.


Assessment methods

  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
   x x
  • Group assignment (report, exercise, presentation, project work etc.)
   x  

ATTENDING STUDENTS

The exam can be undertaken as two Partial exams.

 

The First Partial exam (1h15') covers Part I of the course, and is structured as follows: 3 open questions (worth 9 points each) + 4 MC (one point each).

 

The Second Partial exam is a Group Assignment on the content of Part II of the course.

 

The First Intermediate has a 60% weight (vs the assignment, 40%).

 


NOT ATTENDING STUDENTS

A general exam (2h) structured in 5 open questions (worth 5 points each) + 6 MC (one point each) on the entirety of the course program.


Teaching materials


ATTENDING AND NOT ATTENDING STUDENTS

  • C.J. JONES, Macroeconomics, Norton, 2013, 3rd Ed.
  • M. AMATO, L. FANTACCI, End of Finance, Polity press, 2012.
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