Learning objectives
Expected Learning results:
Knowledge and understanding:
the student learns how economic systems work, how they interact and how they evolve across time.
The aim is to provide the tools required to analyze and understand:
- the determinants of growth and decline of the main macroeconomic variables at a world-wide level;
- the way how these variables interact at the world-wide level;
- the effects of international trade on the economy;
- the way the governments, the central banks and the international economic institutions can affect the main economic variables in the aim of increasing economic welfare;
- history and functioning of international institutions.
Applying knowledge and understandign:
- obtaining the tools required to describe the equilibrium of simple micro and macroeconomic international models;
- obtaining the tools required to understand and elaborate the main economic statistics at a world-wide level;
- obtaining the tools required to assess the impact of economic policies in the short, in the medium and in the long run.
Making judgements:
- developing the necessary skills to assess the results of micro and macroeconomic studies and of economic policies.
Communication skills:
- developing the necessary skills to explain critically the results of economic studies and the scenarios described by economic statistics both to expert and to non-expert people in the field of economics.
Learning ability:
- developing the necessary skills to explain briefly complex issues by means of economic data, charts and analytical formulae.
Prerequisites
A basic level of knowledge in the field of micro and macroeconomics.
Course unit content
Contents:
The course provides a rigorous and critical description of an aggregate economic system examined at a world-wide level and focuses on the topics listed below:
- international economics and globalization;
- international trade: trends and effects on income distribution;
- international outsourcing;
- factors mobility;
- trade policy;
- balance of payments, currency markets and Exchange rate;
- national accounts, income multiplier and external accounts;
- macroeconomic policies in open economies;
- exchange rate determination and the possibility of currency crises;
- international monetary systems;
- world financial crisis, european monetary union and the projects for changing the international monetary system;
- market, national states and democracy in the age of globalization.
Full programme
- - -
Bibliography
A. Amendola, M. Biagioli e G. Celi: Economia della globalizzazione, Egea, Milano (2013)
Teaching methods
During the course the basic notions about micro and macroeconomics in a world-wide environment are provided and the main theories describing the functions of economic systems are discussed by means of lectures. Lectures are flanked by tutorials where statistics and numerical examples are proposed to the students which represent a simplified description of the main theoretical models, with the aim to give them the opportunity to solve some of the typical problems in international economics such as the determination of the equilibrium of global economy and the definition of the effects of economic policies in such an environment.
Assessment methods and criteria
Written exam.
Knowledge, Judgement and Learning ability will be tested through 3 general questions. The ability to properly communicate by mean of technical idioms will be evaluated through the analysis of Language used to answer those questions. Each question determines 1/3 of the final grade.
Other information
- - -
