APPLIED POLITICAL ECONOMY
The course aims to provide the student with the baggage of analytical tools needed to deal with some of the main issues of economic policy. Specifically, the student will acquire the tools to analyze the concepts of deficit and public debt, rational expectations and cyclical fluctuations. They are essential aspects that involve economic activity and the intervention of economic policy.
Knowledge and understanding: The student is required to demonstrate that he/she has understood and interpreted the theoretical and empirical aspects that have implied difficulties in the systematic intervention of recent economic policy.
Applying knowledge and understanding: The student is required to demonstrate that he/she has acquired the theoretical and analytical tools underlying monetary and fiscal policies.
Making judgements: The student is required to demonstrate that he/she has acquired a critical interpretation ability relatively to the topics discussed during the course.
Communication: The student should be able to give clear and exhaustive answers to the questions of the written exam and, eventually, to the ones of the oral interview.
Lifelong learning skills: The student should be able to deepen the topics presented during the course, also integrating his/her knowledge with scientific publications identified by the student.
Knowledge of basic mathematical tools and statistics.
Evolution of public debt and its determinants.
Dynamics of monetary and fiscal policies.
Neutrality of monetary and fiscal policies.
Time series models.
The random walk model.
Transmission mechanism of monetary and fiscal policies.
The Real Business Cycle Theory.
Temporary and permanent shocks.
Introducing the New Keynesian Theory.
- Public Debt
- Rational Expectations
- Cyclical fluctuations and Real Business Cycle Theory
Classes, follow-up meetings.
Chiarini Bruno, Lezioni di Politica Economica, Carocci Editore.
Reading material will be provided during the course.
In order to evaluate the achievement of the above mentioned learning objectives, the learning assessment takes place at the end of the course.
The examination consists of a written test on all the topics covered during the course. If the teacher feels it is useful to ensure the student's knowledge, an oral interview may also take place.