Students will be able to interpret the prevailing dynamics on the international monetary and financial markets, identifying the determining causes of the observed phenomena. In particular, they will have the ability to critically analyze the functioning of a monetary union, starting from the experience of the European Monetary Union.
• Knowledge and understanding: The student must demonstrate to know and understand the problems related to the management of monetary policy
• Ability to apply knowledge and understanding: The student must demonstrate to be able to read and analyze documentation and reports produced by international financial institutions
• Making judgments: The student must be able to critically evaluate the monetary policy indications contained in documents produced by international financial institutions
• Communication skills: The student must demonstrate to be able to report, in a simple way, the main contents of the documents read, also with the help of slides presentations
• Learning skills: Class attendance, although not mandatory, is recommended because the reasoning that will be done in the classroom will be a useful complement to the study of textbooks and will provide the basis for the construction of a training course at the end of which the student must be able to keep up to date.
Students must have a basic knowledge of macroeconomics and national accounting
Topics covered include: Institutional structure of financial markets. Functions and constraints of financial intermediation. The transmission of monetary policy. Final objectives of monetary policy.
The course will be organized in 3 weekly lectures. The frontal lessons serve to explain the more complex theoretical passages and to provide examples taken from reality that can help in understanding the economic events under study.
P. Alessandrini, Economia e politica monetaria, Il Mulino u.e. (cap. 1 – 12)
The exam will be structured in a compulsory written test and in an oral examination. Students will have to prove to have understood the fundamental causes, the implications of the policy and the logical connections relevant to each topic. During the course some exam simulations will be held, which will also contribute to the final grade.