At the end of the course the student should be able to:
1. master the fundamental theories of monetary policy
2. understand the nature of structural changes in monetary instruments and financial systems
3. be able to understand the changes in the forms of monetary policy management
4. be able to formulate hypotheses for monetary policy measures in the face of exogenous shocks.
At the end of the course, students will be able to understand both the relevance of monetary aspects in individual decisions and the main effects determined by the presence of monetary institutions. This knowledge should be useful to: (i) complete the framework of the essential elements for the correct management/planning of business decisions from a financial point of view; (ii) identify the strategic elements of the typical activity of financial intermediaries, critically linking them to the different theoretical approaches from which they originate; (iii) read, collect and interpret data of monetary relevance; assess the relevance of changes in macroeconomic-monetary arrangements, distinguishing the possible effects, both systemic and spillover on the behaviour of individual economic agents.
Frontal Lectures
Institutional part Role and origin of money Financial activities and markets Financial intermediaries Demand for money and financial assets Money supply Transmission of monetary policy Money, prices and the level of output The ultimate objectives of monetary policy The conduct of policy between rules and discretion The role of central banks The determination of the exchange rate The transmission and implementation of monetary policy in an open economy.
Pittaluga G.B., Seghezza E. Building trust in the international monetary system, Springer
Additional material will be provided on the course website
Ricevimento: Office hours always takes place after classes or, alternatively, in the lecturer's office by appointment to be arranged by e-mail.
GIOVANNI BATTISTA PITTALUGA (President)
MARTA SANTAGATA
ANDREA VINDIGNI
ELENA SEGHEZZA (President Substitute)
I Semester
The examination consists of a written test (quiz and open questions).
The written test consists of questions with the aim of assessing knowledge of the fundamental aspects of the subject, from the point of view of description and definitions, and the critical capacity and reworking of concepts. The answer may require either lexical argumentation, graphic representation or the use of appropriate quantitative expressions.
Students are recommended to attend the course assiduously and to consult the online classroom platform periodically.
Students who have duly filed a DSA, disability or other special educational needs certification are advised to contact both the contact person Prof. Aristide Canepa (aristide.canepa@unige.it) and the lecturer at the beginning of the course, in order to agree on teaching and examination methods that, while respecting the teaching objectives, take into account individual learning methods and provide suitable compensatory tools
