CODE 41592 ACADEMIC YEAR 2020/2021 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 main objective of the course is to provide students with the most suitable tools to: - understand the mechanisms by which in a given economic system are determined income growth rates, equity prices, investment, inflation and interest rates; - develop a deep knowledge of the main theoretical models with regard to economic growth, financial markets, productive investment of firms, inflation and monetary theory; - link theoretical models with the available empirical evidence. 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 07/01/2021 14:00 GENOVA Scritto 21/01/2021 14:00 GENOVA Scritto 04/02/2021 14:00 GENOVA Scritto 05/05/2021 15:00 GENOVA Scritto 01/06/2021 14:00 GENOVA Scritto 15/06/2021 14:00 GENOVA Scritto 06/07/2021 14:00 GENOVA Scritto 07/09/2021 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.