CODE 41592 ACADEMIC YEAR 2019/2020 CREDITS 9 cfu anno 1 ECONOMIA E ISTITUZIONI FINANZIARIE 8700 (LM-56) - GENOVA SCIENTIFIC DISCIPLINARY SECTOR SECS-P/02 TEACHING LOCATION GENOVA SEMESTER 2° Semester TEACHING MATERIALS AULAWEB OVERVIEW The course of Advanced Macroeconomics and Financial Markets aims at offering a wide set analytical tools for understanding the mechanisms underlying the process of economic growth as well as the functioning of the financial and monetary sector of the economy. The course has a strong theoretical commitment but it does not neglect the empirical implications of the theories taken into consideration. AIMS AND CONTENT LEARNING OUTCOMES The course aims at providing analytical comprehension of the processes taking place in the money and financial markets of the economy, with particular regard to the transmission mechanism of monetary policy, the scientific debate on financial market efficiency, and some recent research fields. AIMS AND LEARNING OUTCOMES The course of Advanced Macroeconomics and Financial Markets aims at illustrating the ways in which the more consolidated economic theories have framed the various topics collected in the program. At the end of the course, students will be able to handle analytical tools with a certain degree of autonomy and exploit them to explain the determinants of economic development, the trend of the share market, the productive investment of firm, inflation and interest rates. Students will also aware about how the various theories taken into consideration can be compared to available data and will be also proficient in carrying out research independently. PREREQUISITES In order to attend the course of Advanced Macroeconomics and Financial Markets in the most profitable way it is necessary to be endowed with an adequate preliminary knowledge of the topics usually covered in the basic courses of Microeconomics and Macroeconomics. TEACHING METHODS The course is given through lectures, for a total of 72 hours equal to 9 CFU. SYLLABUS/CONTENT Part I. Economic Growth 1. The Solow model 2. The Ramsey-Cass-Koopmans model 3. The Diamond model Part II. Financial Economics 1. The productive investment of companies 2. The Tobin q model 3. Financial market imperfections 4. Mispricing and excess volatility 5. The Diamond-Dybvig model Part III. Monetary economics 1. The determinants of inflation 2. Cost of inflation and stabilization policies 3. Rules of conduct for monetary policy 4. Seigniorage and inflation RECOMMENDED READING/BIBLIOGRAPHY Romer D. (2019), Advanced Macroeconomics, 5th edition, McGraw-Hill (ISBN: 978-1-260-18521-8). The teacher will eventually provide further readings during the course. TEACHERS AND EXAM BOARD MARCO GUERRAZZI Ricevimento: By appointment, send an e-mail to guerrazzi@economia.unige.it Exam Board MARCO GUERRAZZI (President) LUCA BELTRAMETTI ANNA BOTTASSO GABRIELE CARDULLO LESSONS LESSONS START Lectures are given during the 2nd Semester of each year. Class schedule ADVANCED MACROECONOMICS AND FINANCIAL MARKETS EXAMS EXAM DESCRIPTION The final exam is grounded on passing through a written test aimed at assessing the students' degree of understanding regarding the various topics covered during the course. In case of failure, there are no restrictions in repeating the exam. However, students are kindly asked to partecipate only when they think to have a suitable degree of proficiency. ASSESSMENT METHODS The written test is divided into three open questions, one for each part of the program. Questions submitted to students aim at ascertaining the assimilation of the models treated during the course through the request to reproduce in formulas, in graphics or in verbal form the main results arising from the various theoretical frameworks. Exam schedule Data appello Orario Luogo Degree type Note 09/01/2020 14:00 GENOVA Scritto 23/01/2020 14:00 GENOVA Scritto 06/02/2020 14:00 GENOVA Scritto 03/06/2020 14:00 GENOVA Scritto 17/06/2020 14:00 GENOVA Scritto 08/07/2020 14:00 GENOVA Scritto 08/09/2020 14:00 GENOVA Scritto FURTHER INFORMATION Attending the course of Advanced Macroeconomics and Financial Markets is not compulsory. However, given the technical contents of the discipline, attending the lectures in a continuous manner is strictly recommended.