Università degli Studi di Napoli "Parthenope"

Teaching schedule

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Second semester
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Course description

Within basic theoretical frameworks, the course analyzes the role of money, central banking and the transmission of monetary policy in developed countries, with special emphasis on the European Union and the ECB.

Expected learning outcomes

Knowledge and understanding: The student should be able to understand the role of financial intermediaries and the management and transmission of monetary policy in modern industrialized economies with particular attention to the Economic and Monetary Union (EMU). In addition, he/she should also know the main quantitative models of international economic policy.

Applying knowledge and understanding: the student should be able to apply the acquired knowledge to the evolution of modern monetary systems and monetary policies implemented in the EU and the USA.

Making judgments: the student should be able to use autonomously the acquired knowledge solving specific issues such as the evaluation of policies implemented by the major central banks.

Communication: the student is expected to give clear and in-depth answers to the questions of the written exam and, eventually, to the ones of the oral exam.

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 will have the opportunity to apply the knowledge gained in previous courses integrating them with the additional professional skills that characterize the course.


General knowledge and reasoning ability. Some basic knowledge of macroeconomics, if previously acquired by the student, can facilitate the learning process.


III MODULE (24 h):
The interest-rate channel and the term structure of interest rates. The exchange-rate channel and monetary policy in an open economy. The asset-price channel. Information problems and the credit channel.

Teaching Methods

The course includes frontal lessons during which the themes of the program are discussed.


G. Di Giorgio. Economia e Politica Monetaria, CEDAM, u.e.
A. Cottrell, R. Lucchetti. Guida ai comandi di gretl, u.e.

Learning assessment

The assessment is based on a written examination composed of thematic questions aimed at evaluating the actual achievement of the objectives on part the students. 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 the economic models discussed at lesson and in the suggested readings, mathematical proofs of some theorems can be required. The written examination is made up of 3 questions; to each of them a maximum of 10 mark-points is allocated up to grand total of 30. The laude can be assigned if the student shows, in his/her answers, a particular ability in deepening the topics of the examination’s questions. The duration of the written examination is 1 hour and 15 minutes. During the examination, the use of notes, books and informatics devices (smartphone, tablet, pc, ecc.) is not allowed.
An oral examination can also be held, if the teacher judges it useful to better ascertain the student’s knowledge. The vote of the oral examination is expressed in scale from 0 to 30, and it is averaged with the vote of written examination (with equal weighting) in order to determine the final vote.

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