Business sciences

Economic Policy

Course objectives

The course aims at providing both knowledge of theories, models and tools of economic policy and ability to apply them to national and international, corporate and institutional issues. These skills more specifically will allow to work in institutions and in economic research centers, in particular for the design, application, evaluation and control of economic choices; in companies, specifically to define strategies and evaluate their results in the micro and macroeconomic institutional context; in the professions, for knowing better the economic environment in which they operate and make accurate forecasts. By making use of the Dublin descriptors, the following detailed objectives can be identified: A) At the end of the course, the student must be able to understand the micro and macroeconomic issues related to the economic policy debates, such as the internalization of externalities, the sustainability of the public debt or the management of monetary policy. B) The student must be able to identify the pros and cons of the various economic policy solutions proposed to face the microeconomic and macroeconomic failures of the market. The assessment of the student should not only be theoretical but also quantitative, at least at a simplified level. C) The student must be able to propose in an autonomous and critical way solutions to various problems of economic policy; in particular she must be able to identify which type of market failure the problem belongs to; suggest possible solutions and evaluate their strengths and weaknesses, by making use also of cost-benefit analysis if appropriate. D) The student must be able to communicate at different levels, possibly through a graphic or mathematical formalization, the logic of economic policy and the mechanisms of transmission of public action. E) The student must be able to master the key concepts, techniques and basic models of economic policy in order to use them (qualitatively and quantitatively) at a more advanced level also to integrate them with concepts and tools of such disciplines as political economy, statistics and public finance.

Channel 1

ELTON BEQIRAJ Lecturers' profile

Program - Frequency - Exams

Course program

Erasmus students Objectives. Regarding the educational objectives, the course analyses the micro/macro market and "non-market" failures and the policy trade-offs, particularly between state and market, unemployment and inflation, economic growth and distribution of income, and economic growth and balance of payments. The knowledge of all these issues and a familiarity with the structure of the decision-making process are the essential requirements to address the various aspects of current economic policies, Syllabus. Economic policy and economic theory. Microeconomic and macroeconomic market failures. The normative theory of economic policy. The failures of the state and the positive theory of economic policy. The cost-benefit analysis. The tools of microeconomic policy. Antitrust policies. The policies in the presence of externalities and public goods. Redistributive policies and the welfare state. The objectives and the macroeconomic instruments in an open economy. The monetary policy. The fiscal policy. Incomes policy and prices. The policies for the balance of payments. Policy issues related to economic growth. The automatic rules, discretionary measures, and temporal inconsistencies. The international financial integration issues Expected goals. Awareness of the role of economic policy and the relationship between state and market. Awareness of the objectives and instruments of economic policy. Awareness of the processes of development of the Italian economy, international relations, and relations between economic policies and business strategies

Prerequisites

Economia Politica

Books

Acocella N., Politica economica e strategie aziendali, Carocci, Roma.

Frequency

Not mandatory.

Exam mode

The exam consists of a written test and an optional oral test. The written test is a multiple-choice exam, including some numerical exercises, and is usually held in the computer lab. The maximum score for the written test is 24 (the professors reserve the right to raise this limit to 26). Anyone scoring at least 18 can either record the written test grade or opt to take the oral test. In the latter case, the oral exam will determine the final grade. Anyone receiving a failing grade (N/A) must retake the written test at the next session. The oral exam may improve the final grade compared to the written exam, but it may also result in a lower grade. Registration for the exam must be completed through Infostud within the deadlines set for each exam session. As established by the Faculty, there will be no “exemption” exams during the course.

Bibliography

Lesson mode

Front load classes