AIMS AND CONTENT

LEARNING OUTCOMES

The course provides the intruments to evaluate the opportunity and the merit of public policies based on economic theories. Once Italian economic system is analysed in comparison with the European economic system as well as a wider international context, the course invokes Keynesian macroeconomic analysis features to define the meaning and the limits of economic policies that are inspired by this line of interpretation. The course also describes the main theories on international differences in growth rates with the aim to understand the role of technological progress in economic development and the limits to economic growth required by the need to keep budgets balanced.

AIMS AND LEARNING OUTCOMES

Learning outcomes (detailed description)

The course aims to provide students with the fundamental tools for understanding economic policies, with particular emphasis on fiscal and monetary policies. The main objective is to offer a solid foundation in key areas of macroeconomic analysis, with a focus on the determinants of medium- and long-term economic growth, the causes and effects of inflation, fluctuations in employment, and the role of stabilization policies.

Particular attention will also be devoted to the analysis of current economic events and trends, in order to connect theoretical concepts to real-world developments.

Expected learning outcomes

Knowledge and understanding: Students are expected to acquire solid knowledge and a thorough understanding of the often uncertain and ambiguous effects of public intervention in the economy, also in light of the historical experience of the past thirty years.

Applying knowledge and understanding: Students should be able to apply the knowledge acquired to understand and address issues related to the current macroeconomic context. When confronted with a macroeconomic problem, they should be able to formulate convincing hypotheses regarding its causes and possible solutions.

Making judgements: Students should be able to use the knowledge acquired both conceptually and practically, developing independent critical thinking and the ability to assess and apply their skills in different contexts.

Communication skills: Students are expected to acquire the technical vocabulary typical of the discipline, enabling them to communicate clearly and unambiguously with both specialist and non-specialist audiences.

Learning skills: Students should develop appropriate learning skills that will enable them to continue studying and deepening the main topics of the discipline independently, particularly in the professional contexts in which they will operate.

PREREQUISITES

Students are expected to have a solid knowledge of the basic principles of Economics, with particular reference to Macroeconomics.

TEACHING METHODS

• Frontal lectures.
• Cycle of seminars (which involve students) might be organized during the course.
• Any changes will be announced on Aulaweb.

SYLLABUS/CONTENT

The course builds on the concepts and analytical tools acquired in the introductory course in Political Economy (with a particular focus on Macroeconomics). Drawing on the insights provided by economic theory, it evaluates the relevance, effectiveness, and merit of public intervention, with particular reference to both longstanding and emerging challenges affecting the Italian economy and the broader international context.

Course content:
The foundations of economic policy
Monetary policy and fiscal policy
Employment policies
Inflation and unemployment: the Phillips curve
Growth: an introduction 
Inequality, precariousness, and new forms of poverty

In addition, during the semester, topics such as expectations and the open economy will be briefly introduced. Further in-depth analysis will be dedicated to fiscal and monetary policies, with particular emphasis on the limitations of economic policy. Possible additions to the syllabus will be considered in relation to the interpretation of key events shaping the current economic and social context, using the analytical tools of economists. Specific current issues will be explored through dedicated lectures.

RECOMMENDED READING/BIBLIOGRAPHY

Suggested textbook is:
 - Blanchard O., Amighini A., Giavazzi F. (2023), Macroeconomics. A european perspective. Fourth edition. Pearson. Ch. VI to X

Further teaching material will be provided during the lectures.

TEACHERS AND EXAM BOARD

LESSONS

LESSONS START

II Semester.
All class schedules are posted on the EasyAcademy portal.

Class schedule

ECONOMIC POLICY

EXAMS

EXAM DESCRIPTION

Oral exam.
 

ASSESSMENT METHODS

​Oral assessments gauge students' knowledge and skills based on classroom topics and book contents.
There might be a partial exam. The result of the test will be part of the final evaluation.
The program is the same for attending and non-attending students.
Further information will be provided during the course and on aulaweb.

Students who have valid certification of disability or Specific Learning Desorders (DSA) on file with the University may request the use of compensatory measures during the exams (e.g. additional time, concept maps), following the guidelines (p. 5) published here. In any case, for further information, please contact the Department's disability liaison: Isa.Fanlo@unige.it .

FURTHER INFORMATION

Students will have the opportunity of repeating the exam without restrictions.