20841 - MONETARY POLICY AND FINANCIAL REGULATION
Department of Economics
Course taught in English
Go to class group/s: 31
CLMG (6 credits - II sem. - OP | SECS-P/01) - M (6 credits - II sem. - OP | SECS-P/01) - IM (6 credits - II sem. - OP | SECS-P/01) - MM (6 credits - II sem. - OP | SECS-P/01) - AFC (6 credits - II sem. - OP | SECS-P/01) - CLELI (6 credits - II sem. - OP | SECS-P/01) - ACME (6 credits - II sem. - OP | SECS-P/01) - DES-ESS (6 credits - II sem. - OP | SECS-P/01) - EMIT (6 credits - II sem. - OP | SECS-P/01) - GIO (6 credits - II sem. - OP | SECS-P/01) - DSBA (6 credits - II sem. - OP | SECS-P/01) - PPA (6 credits - II sem. - OP | SECS-P/01) - FIN (6 credits - II sem. - OP | SECS-P/01) - AI (6 credits - II sem. - OP | SECS-P/01)
Course Director:
DONATO MASCIANDARO
DONATO MASCIANDARO
Mission & Content Summary
MISSION
By the early 2000s an increasing numbers of countries had adopted a well-defined central bank framework, which is characterized by two intertwined features: the authority becomes specialized in achieving the monetary policy goals, and consequently its traditional responsibilities in pursuing the financial stability are less important in its institutional perimeter. But then, after the Great Crisis, reforms are undertaken and projects are under discussion in order to reassess the central bank role, motivating an overall reconsideration of the relationships between conventional and unconventional monetary policy on the one hand and banking regulation and supervision on the other, with specific attention to Europe and US. The course is devoted to a better understanding of the policy drivers, adopting a multi-disciplinary approach: economics, new political economy and history.
CONTENT SUMMARY
- Economics, Political Economy, History. A Positive Sum Game.
- Central Banking as an Evolving Mix of Monetary Policy, Fiscal Policy and Financial Regulation and Supervision.
- Today Central Banking: Normal Times, Extraordinary Times, New Normal Times.
- Backward Looking to Go Ahead: Classic View, Traditional View, Modern View.
Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
analyse the intertwined relationships among conventional monetary policy, fiscal policy, banking regulation and supervision using economics, new political economy and history as knowledge tools.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
apply her/his the above mentioned knowledge in discussing what is going on in terms of central bank strategies.
Teaching methods
- Lectures
DETAILS
Lecture notes, slides and videos represent the teaching material, which is already on the website of the course.
Assessment methods
| Continuous assessment | Partial exams | General exam | |
|---|---|---|---|
|
x |
ATTENDING AND NOT ATTENDING STUDENTS
The exam methods are the same for all students (attending and not, in progress or not). The exams are held exclusively in written form, in the classroom, on the student's personal computer, and must be taken with a general test on the entire program (100%). The student cannot use any type of paper or any electronic tool.
The general test (duration = 60 minutes) consists of three groups of questions (true/false); each group is made up of ten questions. All questions must be answered; each of them is worth 1//30. Each question proposes a statement of macroeconomics, which applies notions and concepts introduced and discussed during all lessons. The statement must be declared "true" or "false", and in the case of a "false" answer it must be justified. Answers without argumentation are scored as wrong. Examples of statements are discussed in class.
During the exam:
- The teacher present in the classroom is exclusively responsible for the regular conduct of the exam; no explanation on the questions must be requested from him; in any case, his statements have no relevance for the purposes of correction.
- The student taking the exam accepts the rules of conduct. During the test the student can always withdraw.
- Only students who finish the test or withdraw are allowed to leave the classroom. intend to deliver or withdraw, and in any case no later than 15 minutes after the end of the test.
- The solutions are published on the website, together with the correct answers to the thirty questions. The viewing of the tasks is automatically carried out by the student, comparing his answers with the correct ones. The student can request the revision by formally requesting it from the teacher by completing a specific request.
Teaching materials
ATTENDING AND NOT ATTENDING STUDENTS
Lecture notes, slides and videos represent the teaching material, which will be available on the website of the course.
OTHER (NON COMPULSORY) REFERENCES
Articles:
- Masciandaro D. (2021), Central Bank Governance in Monetary Policy Economics (1981-2020), Bocconi University, Baffi Carefin Working Paper Series, forthcoming.
· Masciandaro D. and Quintyn M. (2015). The Governance of Financial Supervision: Recent Developments, Journal of Economic Surveys, Vol.29 , 1-25.
· Masciandaro D. and Romelli D. (2015). Ups and Downs. Central Bank Independence from the Great Inflation to the Great Recession, Financial History Review, December, 1-31.
Last change 21/11/2024 14:41