POLITICAL ECONOMY

POLITICAL ECONOMY

Alfredo Macchiati

Instructional goals

The course aims : - to provide some of the fundamental analytical concepts of economic policy theory - to allow a critical evaluation of some recent economic policy decisions in Italy and in Europe.

Intended learning outcomes

KNOWLEDGE AND ABILITY TO UNDERSTAND The ability to understand basic concepts will be assessed. APPLICATION OF KNOWLEDGE The rigor in the application of arguments for the interpretation of economic policy decisions will be evaluated. The student must be able to illustrate the effects of economic policy decisions. The ability to establish relationships between economic policy decisions and political-institutional situations will be assessed. COMMUNICATION SKILLS The student must correctly express the knowledge acquired in written and oral form (in the classroom).

Course Contents

The four areas of economic policy will be examined 1. Allocative policies 2. Distributional policies 3. Growth theory and growth policy 4. Stabilization policies

Reference Books

1. Lecture notes provided by the professor. 2. Supplementary material (i.e. exercise solution, background readings) Both available on elearning

Teaching Methods

a) lecture; b) 3 thematic in-depth studies proposed to students who in small groups will have to discuss, analyze and report in the classroom the results achieved; c) Throughout the course, students will be asked to critically analyse some of the economic policy decisions through quizzes and classroom discussions

Assessment Method

The methods envisaged for ascertaining the knowledge and skills acquired are: a) a test on macro knowledge b) for the classroom activity, an in-depth study to be presented in class by groups of students; c) written exam d) for those who get more than 25 in the written tests, there will be an oral exam to confirm the grade,

Thesis assignment criteria

exam minimum grade: 27/30

Week 1

Introduction to the course Allocative policies (I part), chapter 1 of lecture notes

Week 2

Macro review. Allocative policies (II part) , chapter 2 of lecture notes

Week 3

Allocative policies (III part) , chapter 3 of lecture notes Presentation and assignment of the first thematic in-depth study

Week 4

Distributive policies, chapter 4 of lecture notes Discussion of the first thematic in-depth study

Week 5

Presentation and assignment of the second thematic in-depth study Labor market theory and policies, chapter 5 of lecture notes

Week 6

Labor market theory and policies, chapter 5 of lecture notes Discussion of the second thematic in-depth study

Week 7

Fiscal policy, chapter 6 of lecture notes

Week 8

Public debt sustainability, chapter 7 of lecture notes

Week 9

Banks and the financial system, chapter 8 of lecture notes

Week 10

Monetary policy, chapter 9 of lecture notes Presentation and assignment of the third thematic in-depth study

Week 11

Financial stability and policies, chapter 10 of lecture notes Growth policies

Week 12

Discussion of the third thematic in-depth study, c Growth policies, chapter 11 and 12 of lecture notes