OVERVIEW

Teaching of economic policy aimed mainly at students of the LM in Management

AIMS AND CONTENT

LEARNING OUTCOMES

 The course mainly deals with economic policy issues associated with ageing, innovation policy, monetary policy and behavioural policy.

AIMS AND LEARNING OUTCOMES

Consistent with the nature of the master's degree course in management, the teaching favors a rigorous but not very formalized analysis of issues of great relevance not only in the economic policy debate but also for the life of companies.

The teaching aims to enable students to understand the scientific literature on the proposed topics and to formulate autonomous opinions, also on the basis of data to be collected independently from primary sources.

The classroom discussion of highly current issues is aimed at providing cultural elements together with an ability to understand the ongoing debate in the media by developing dialectical skills and grasping the implications of major economic and technological trends on the concrete life of companies.

TEACHING METHODS

Attendance is recommended. The teaching lasts 48 hours.

Students who have valid certification of physical or learning disabilities on file with the University and who wish to discuss possible accommodations or other circumstances regarding lectures, coursework and exams, should speak both with the instructor and with Prof. Serena Scotto (scotto@economia.unige.it), the Department’s disability liaison.

SYLLABUS/CONTENT

The course mainly addresses two major topics: i) the economic and economic policy implications of the aging population and ii) the economic implications of the digitalisation of the economy.

Theme i) provides an introduction to the topic of the determinants of demographic change (fertility rates, mortality...) and a discussion of the implications of these changes on pension systems, assistance policies and some markets. A detailed explanation of the operating principles of the different types of pension systems and the implications of demographic changes on their sustainability is offered.

The discussion of topic i) leads to understanding the decisive role of productivity dynamics in the sustainability of the demographic transition and, consequently, leads to the identification of digitalisation processes as a fundamental element with respect to the objective of productivity growth.

Theme ii) therefore investigates the mechanisms through which digitalisation, the so-called "industry 4.0" and artificial intelligence can translate into increases in productivity. A theoretical treatment of these issues is also accompanied by an analysis based on concrete examples.

The teaching also includes a short part dedicated to the theory of voting and a part dedicated to current affairs which is detailed at the beginning of the course

RECOMMENDED READING/BIBLIOGRAPHY

1) Voting theory

N. Acocella, Fundamentals of Economic Policy, NIS, 1994, par. 3.6

2) Elements of demography and economic policy implications of the aging population:

i) Demographic elements (materials on aulaweb)

ii) The economics of pension systems (materials on aulaweb)

iii) Aging and distribution of wealth (materials on aulaweb)

3) Economic policy implications of the digitalisation of the economy:

i) Slides on aulaweb

ii) The following articles (uploaded on Aulaweb)

A. Goldfarb, C. Tucker, Digital Economics, NBER wp 23684, 2017.
A. Agrawal, J. Gans, A. Goldfarb, Economic Policy for Artificial Intelligence,
NBER wp 24690, 2018

Bryniolfsson E., D. Rock, C. Syverson, Artificial Intelligence and the Modern
Productivity Paradox: a Clash of Expectations and Statistics NBER, wp 24001, November 2017.
MIT Tech Review Insights, The great acceleration: CIO perspectives on generative AI, 2023
Brynjolfsson E., Unger G., The Macroeconomics of Artificial Intelligence, IMF Finance&Development, December 2023.

4) Readings made in class on current affairs (Materials on aulaweb)

Non-attending students can replace the parts referred to in point 2 by bringing one of the following books of their choice:

• J. Bessen, Learning by Doing. The Real Connection between Innovation, Wages, and

Wealth, Yale University Press, 2015

• M. Wolf, The Crisis of the Democratic Capitalism, chapters 4,5 and 6, Penguin Press, New York, 2023.

• R. Baldwin, The Globotics Upheaval. Globalization, Robotics and the Future of Work,

Weidenfeld&Nicolson, 2019. (also available in Italian editions Il Mulino, Bologna).

Students with a 9 CFU exam must add one of the three books referred to in the previous point to the above (all volumes are available at my office).

TEACHERS AND EXAM BOARD

LESSONS

LESSONS START

According to official calendar

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

Written exam

ASSESSMENT METHODS

Open questions