Università degli Studi di Napoli "Parthenope"

Teaching schedule

Academic year: 
2016/2017
Partition: 
Matricole pari
Teaching: 
Belonging course: 
Course of Bachelor's Degree Programme on ECONOMICS AND BUSINESS
Location: 
Napoli
Disciplinary sector: 
ECONOMIC POLICY (SECS-P/02)
Credits: 
9
Year of study: 
2
Teachers: 
Cycle: 
First Semester

Language

Italian

Course description

The course aims at providing general and in-dept understanding of the theoretical and practical motivations underlying the government intervention in the economic system, focusing in particular on the macroeconomic framework.
The emphasis is on the macroeconomic dimension of public policies. In this view, the course’s Learning objectives are directed towards the understanding of the main macroeconomic theories and models, widely accepted by scientific community, as well as towards the understanding of some of the main issues discussed in the current debate on macroeconomic policy. The topics also include a simplified discussion of the main analytical models applicable to macroeconomic policy issues.

Expected learning outcomes
Knowledge and understanding: the student should be able to understand the themes and problems related to the public intervention in the economic system and to the main macroeconomic policy issue; he/she should also know the main mechanisms of an economic system, viewed as an integrated whole. These knowledge should include
Applying knowledge and understanding:
the student should be able to understand the themes and problems related to the public intervention in the economic system. To this end, theoretical and analytical scheme for the study and then evaluation of the macroeconomic policies – fiscal, monetary and exchange rate – will be exposed in classroom lessons, with the aid of real-world examples and applications. These applications and themes can also be discussed during student’s assistance time.
Making judgements: the student should be able to use the acquired knowledge also in an autonomous way, by also applying them to specific issues and problems, such as the specific features of some forms of monetary policy (i.e., interest rate instruments, quantitative easing) and of some forms of fiscal policies (expansive, restrictive policies, public debt or deficit control and sustainability etc.). He/she should also be able to make an educated appraisal and judgement on the possible effects of different policies on the basis of the current macroeconomic theory.
Communication: the student should be able to answer in a clear and thorough way to the questions of the written examination and to those of the possible oral examination..
Lifelong learning skills: the student should be able to show a good learning ability, by widening, for example, his/her knowledge with use of relevant bibliographic references, The student should also be able to analyze and evaluate the impact and the constraints related to the policy schemes in relevant economic sectors.

Prerequisites

General knowledge and reasoning ability. Knowledge of the basic concepts of microeconomics is required. Some basic knowledge of mathematics, if previously acquired by the student, can facilitate the learning process.

Syllabus

Part I (24 hours): An Introduction to macroeconomics. The goods market. Financial markets. Goods and financial markets: the IS-LM model.
Part II (24 hours): The labor market. The natural rate of unemployment and the Phillips curve. Inflation, production and money growth: equilibrium analysis. The IS-LM-PC model. The facts of growth. Savings, capital accumulation and growth. Technological progress and growth.
Part III (24 hours): Expectations: the basic tools. The goods and financial markets in an open economy. Production, interest rates and exchange rates. Exchange rates regimes. Themes of macroeconomic Policy: fiscal and monetary.

Study Program/Contents:
Part I (24 hours): An Introduction to macroeconomics. The goods market. Financial markets. Goods and financial markets: the IS-LM model.
Part II (24 hours): The labor market. The natural rate of unemployment and the Phillips curve. Inflation, production and money growth: equilibrium analysis. The IS-LM-PC model. The facts of growth. Savings, capital accumulation and growth. Technological progress and growth.
Part III (24 hours): Expectations: the basic tools. The goods and financial markets in an open economy. Production, interest rates and exchange rates. Exchange rates regimes. Themes of macroeconomic Policy: fiscal and monetary.

Course organization: traditional (classroom lesson) plus additional elements in blended modality
Classroom Lessons; classroom exercises.

Teaching Methods

Classroom Lessons; classroom exercises

Textbooks

Blanchard O. Macroeconomia, il Mulino, u.e. – capitoli: 1,2,3,4,5,6,7,8,9,10, 11, 12,13,14, 17, 18, 19, 20, 21,23, Appendice 2.

Learning assessment

The assessment is based on a written examination which is composed of thematic questions and of numerical exercises and application on the topics discussed at lesson.
In order to evaluate the depth in understanding general theoretical knowledge, the classwork includes open questions on the program’s topics. In their answers the students should be able to show and illustrate the fundamental concepts acquired during their studies. In order to evaluate the ability to apply economic models discussed at lesson in the suggested readings, some mathematical discussion and/or exposition of models and theories discussed at lesson can be required. An oral examination can also be held, in case the teacher judges it useful to better ascertain the student’s knowledge.

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