APPLIED POLITICAL ECONOMY
The course aims to provide the student with the theoretical and analytical tools necessary to be able to tackle the study of the most important issues of economic policy. In particular, the student will analyze topics such as public deficit and debt, rational expectations and cyclical fluctuations. These 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.
Exams of economic policy and statistics.
Knowledge of basic mathematical tools and statistics.
I Module (24 hours)
- Evolution of public debt and its determinants
- The monetary financing of the public debt and the relationship with the monetary authorities
- Rational and adaptive expectations
- Neutrality of monetary and fiscal policies
- The Lucas critique
II Module (24 hours)
- Macroeconomic fluctuations: empirical and theoretical aspects
- Time series
- Economic cycle and the Real Business Cycle Theory
- The political cycle theory
The course deals with the most current issues of economic policy following a double perspective: analytical tools and economic insights.
The course includes lectures, during which the contents of the program will be addressed, both from a theoretical and applicative perspective (exercises). In addition, in order to stimulate students' interest in the subject, space will be given to the observation and discussion of the current economic situation during the entire duration of the course.
Chiarini Bruno, Lezioni di Politica Economica, Carocci Editore (Chapters 2-3-4)
Possible reading material will be provided during the course.
In order to evaluate the achievement of the mentioned learning objectives, the learning assessment takes place at the end of the course.
The examination consists of a written test and oral interview on all the topics covered during the course.