Università degli Studi di Napoli "Parthenope"

Teaching schedule

Academic year: 
2019/2020
Belonging course: 
Course of Master's Degree Programme on ECONOMIC, FINANCIAL AND INTERNATIONAL SCIENCES
Disciplinary sector: 
ECONOMIC POLICY (SECS-P/02)
Language: 
Italian
Credits: 
9
Year of study: 
2
Teachers: 
Cycle: 
First Semester
Hours of front activity: 
72

Language

Italian and English

Course description

The course provides advanced analytical tools for the theory of international economic policy both from the microeconomic point of view and from the macroeconomic point of view from the latest facts and theories from the perspective of the EMU. The objective is to answer through rigorous analytical tools to the following questions: What is the role of fiscal policy in a context of interdependence among countries? How to handle sovereign debt? How to establish the policy objectives of a central bank? Is it better to choose fixed rates or flexible exchange rates? What policies do policy makers have in a globalized market? How do financial markets affect the outcomes of monetary policy and fiscal policy? How can policy makers affect the financial market outcomes? What is the link between economic policy, globalization, growth and inequality?

Prerequisites

Knowledge of Macroeconomics and Economic Policy in Open Economies in its basic content. Elements of linear algebra and statistics.

Syllabus

The structure of economic policy in the Eurozone. The principles of economic policy from the Second World War to the collapse of the Bretton Woods agreements. The theory of optimal currency areas. Fiscal and monetary policy in different exchange rate regimes and perfect capital mobility. From exchange agreements to common currency. The theory of fiscal policy in a Keynesian world. Tax policy and intertemporal approach. The evolution of the theoretical debate on fiscal policy and the case of the Eurozone. Public debt. Monetary policy: a general model. Inflation vs unemployment. Taylor's rule. Monetary policy under fixed exchange rates. The evolution of monetary policy theory. Other monetary policy objectives: financial stability and exchange rate stability. The transmission mechanisms. The coordination of economic policy internally and externally. The coordination of economic policy in the Euro zone. Coordination of economic policy and financial markets. The coordination of economic policy and the future of the Eurozone. Effectiveness of economic policy in different exchange rate regimes: matrix analysis. Insights on current issues

Teaching Methods

The course includes lectures, tutorials and deepening of the essay on research topics related to the study program

Textbooks

Canale R.R., Mirdala R., Fiscal and Monetary Policy in the Eurozone. Theoretical concepts and empirical evidence. Emerald publishing, London, 2019.

Teaching material on the e-learning portal with slides in English and essays on topical issues

Learning assessment

The exam is based on a written test with open questions that require analytical insights and synthesis skills. The written test is accompanied by an oral test that verifies the autonomy and independence of thought also through the presentation of the results achieved in the in-depth research essays in the classroom.

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