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Course 2021-2022 a.y.

30026 - MONETARY ECONOMICS

CLEF
Department of Economics

Course taught in English


Go to class group/s: 9 - 10

CLEF (8 credits - I sem. - OB  |  SECS-P/01)
Course Director:
DONATO MASCIANDARO

Classes: 9 (I sem.) - 10 (I sem.)
Instructors:
Class 9: DONATO MASCIANDARO, Class 10: DONATO MASCIANDARO


Suggested background knowledge

Le conoscenze proprie di un corso di macroeconomia e microeconomia triennale sono indispensabili ed obbligatorie, preferibilmente O.Blanchard, A. Amighini, F. Giavazzi: Macroeconomics - A European perspective ( o la traduzione italiana pubblicata dal Il Mulino, settembre 2020) (BAG in questo syllabus)


Mission & Content Summary
MISSION

The depth and breadth of the Great Crisis motivate an overall reconsideration of the relationships between monetary policy on the one hand and other economic policies. on the other, with specific attention to Europe and US. The monetary policy design will be discussed in a business cycle perspective, as well as in a long time horizon.

CONTENT SUMMARY

First part: Monetary and Financial Policies: Monetary and Financial Policies (Donato Masciandaro)

·               Money, Finance, Politics and the Business Cycle: a Basic Model  

·               Monetary Policy in Normal Times

·               The Great Crisis

·               The Great Liquidity Trap

·               The Great Pandemic

 

Readings: Lecture Notes

 

Second part: Monetary Policy and Growth (Elisa Borghi and Maria Teresa Trentinaglia)

  • Beyond the Business Cycle: The Drivers of Long-Term Growth
  • Growth, Human Capital, Technology
  • Institutions and Economic Policies: Does Monetary Policy Matter?   
  • Climate Change and Monetary Policy

 

Readings: Lecture Notes


Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • Interpret the evolution of the economic situation on the basis of a plurality of macroeconomic frames, in order to use the knowledge acquired relating to the design of monetary and financial policies to maximize the usefulness of the information available, minimizing time and optimizing the use of one's energies .
  • Better use two indispensable professional resources: logic and precision.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • Evaluate alternative macroeconomic scenarios, functional to better contextualize one's professional activity.
  • Apply logic and rigor effectively and efficiently.

Teaching methods
  • Face-to-face lectures
  • Exercises (exercises, database, software etc.)
  • Case studies /Incidents (traditional, online)
DETAILS

Exercises and case studies are used to interpret concrete cases of design and implementation of monetary and fiscal policies, with particular attention to the European Union and the United States.


Assessment methods
  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
  •     x
    ATTENDING AND NOT ATTENDING STUDENTS

    With the aim of evaluating the learning of the knowledge offered, and the skills of precision and rigor, the assessment is based on a written exam, which corresponds to 100% of the final grade.

    The written exam consists of exercises and / or open questions, with the aim of assessing the student's abilities

    Apply the analytical tools, including principles and definitions, discussed during the course
    Solve macroeconomic models, explaining their logic and implications of economic policy
    Identify causes and effects of monetary, financial and fiscal policy
    Describe the interactions in an open economy and in the presence of uncertainty between the real and financial sector in an advanced economy

    Specifically with regard to open questions, they aim to assess the student's ability to:

    Defining concepts and definitions precisely and rigorously
    Articulate the logic of economic analysis
    Apply the knowledge acquired during the course
    The student can choose to take the exam using two partial tests; in this case each test is worth 50% of the final grade. Alternatively, the student can take the exam using a general test; in this second case the test is worth 100% of the final grade.

    NON ATTENDING STUDENTS

    The assessment is based on a written exam with the same procedures valid for all students, described above.


    Teaching materials
    ATTENDING AND NOT ATTENDING STUDENTS

    Lecture Notes (Part I) Slides (Part I and II) and readings (Part II) represent the teaching material. The Lecture notes will be posted at the beginning of the course. Slides and readings  will be posted week by week in the course website (Bboard). Office hours rules  - as well as any other  information - will be communicated on the Bboard.

     

    Last change 26/08/2021 10:43