Course 2014-2015 a.y.

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) - CLAPI (6 credits - II sem. - OP  |  SECS-P/01) - CLEFIN-FINANCE (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)

Course Director:
DONATO MASCIANDARO

Course Objectives

By the early ‘2000, an increasing number 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 erupted in 2008, reforms are undertaken and projects are under discussion in order to reconsider the central bank role. The depth and breadth of the crisis motivate an overall reconsideration of the relationships between monetary policy on the one hand, and prudential regulation and supervision on the other, with specific attention to Europe and US.
The course is devoted to a better understanding of the drivers of the policy choices, mixing traditional economics and new political economy.

Course Content Summary

• Macroeconomics and Central Banking.
• Price Flexibility and Rules: Central Bank, Money and Banking Stability.
• Price Rigidity and Active Policies: Central Bank, Monetary Policy and Financial     Repression.
• Price Flexibility and Rule Flexibility: Central Bank, Independence, Monetary Stability and  Prudential Policy.
• Crisis and Post Crisis.

Detailed Description of Assessment Methods

Written General Exam. The exam texts will be the same for all the students, including those attending the course in the previous years. The questions of the exam are five and compulsory (time=120 minutes). The grade of each question is 6/30; to pass the exam the overall grade has to be at least 18/30. Mock exam questions will be discussed during the course.

Textbooks

Slides and readings represent the teaching material. The class slides will be posted week by week on the website of the course. All the class slides and readings are compulsory exam material and have to be carefully prepared for the exam independently from the time allocated to them in class. Regular attendance is crucial for not falling behind. If the students miss the class, it is their responsibility to make up for the lecture notes and announcements made in class.

Exam textbooks & Online Articles (check availability at the Library)

Prerequisites

Previous exposure to a first-year undergraduate macroeconomic course is necessary and compulsory. For example: O. BLANCHARD, Macroeconomics, Pearson.

Last change 20/06/2014 14:58