ID:
T088
Tipo Insegnamento:
Opzionale
Durata (ore):
60
CFU:
8
SSD:
ECONOMIA POLITICA
Url:
ECONOMICS AND BUSINESS/BASE Anno: 3
Anno:
2023
Dati Generali
Periodo di attività
Secondo Semestre (05/02/2024 - 04/05/2024)
Syllabus
Obiettivi Formativi
The course aims at offering a deep understanding of the recent innovations in the European economic governance as well as in the European monetary and fiscal policies. The analytical core of the course is devoted to the euro area evolution after the international financial crisis (2007-'09). However, references are also made to the same international crisis and to the main economic institutions that characterize the European Union since the beginning of the Nineties and the European economic and monetary Union since its origins. If the new initiative launched by the European Commission at the end of May 2020 was successful, the last part of the course would be devoted to the analysis of the breakthrough impact of the ‘Next Generation – EU’.
Prerequisiti
Students can easily follow the analytical content of this course, if they previously acquired a basic knowledge in:
Microeconomics
Macroeconomics
Economic Policy
Monetary Economics
International Economics.
By basic knowledge I mean the command of the notions offered in the courses of Economics I and II during the first two years of the first University degree as well as the learning of the standard models of Monetary and International Economics.
Microeconomics
Macroeconomics
Economic Policy
Monetary Economics
International Economics.
By basic knowledge I mean the command of the notions offered in the courses of Economics I and II during the first two years of the first University degree as well as the learning of the standard models of Monetary and International Economics.
Metodi didattici
As pointed out in the previous presentation of the different lessons, the organization of the course is based on three different teaching methods:
- the transmission of analytical tools on the main specific issues (traditional teaching); - the discussion of these issues and the utilization of the tools learned (lessons);
- the direct work on formal European documents;
- the reference and the appraisal of documents written by policy makers.
- the transmission of analytical tools on the main specific issues (traditional teaching); - the discussion of these issues and the utilization of the tools learned (lessons);
- the direct work on formal European documents;
- the reference and the appraisal of documents written by policy makers.
Verifica Apprendimento
The assessment method takes into account three variables: (A) active participation in discussions, including presentations on specific topics;
(B) active participation in the assessment of policy-makers’ documents;
(C) formal final exam (a written exam).
If students apply for their formal exam just once in the summer or fall session (see below), (C) will account for:
- max 25% of the final grade, if participants in the class-room were ≤ 20 (in this case, A will account for max 75% and B for max 25%); - max 60% of the final grade, if participants in the class-room were > 20 and ≤ 50 (A for max 40% and B for 20%); - max 75% of the final grade, if participants in the class-room were > 50 (A for max 25% and B for max 10%).
Students, who decide to refuse the final grade of their formal written exam and to repeat this exam or to postpone it after the fall session, will also give up the (A) and (B) assessments. Hence, the final grade for these students will be just based on a specific written exam.
Following LUISS’ rules, the standard Sessions of the exam relating to this course are three:
Summer Session
Fall Session
Winter Session.
In order to implement the previous methodology in a linear way, it is necessary to have a single date (appello) for each session.
(B) active participation in the assessment of policy-makers’ documents;
(C) formal final exam (a written exam).
If students apply for their formal exam just once in the summer or fall session (see below), (C) will account for:
- max 25% of the final grade, if participants in the class-room were ≤ 20 (in this case, A will account for max 75% and B for max 25%); - max 60% of the final grade, if participants in the class-room were > 20 and ≤ 50 (A for max 40% and B for 20%); - max 75% of the final grade, if participants in the class-room were > 50 (A for max 25% and B for max 10%).
Students, who decide to refuse the final grade of their formal written exam and to repeat this exam or to postpone it after the fall session, will also give up the (A) and (B) assessments. Hence, the final grade for these students will be just based on a specific written exam.
Following LUISS’ rules, the standard Sessions of the exam relating to this course are three:
Summer Session
Fall Session
Winter Session.
In order to implement the previous methodology in a linear way, it is necessary to have a single date (appello) for each session.
Testi
References
The topics addressed in this course are too up-to-date to be systematically addressed in a specific textbook. However, the main parts of the course are covered by:
(1) M. Messori, Recovery Pathways. The difficult Italian Convergence in the Euro Area, Bocconi University Press, Milan 2021.
Useful integrations are offered by:
(2) sets of slides that refer to the various topics of the course.
The slides, referring to a given lesson, will be made available to students in advance (at least, two days before this lesson). References (1) and (2) are sufficient for the preparation of final exam.
Students could largely improve their learning process, if they strengthened their economic background on European problems by reading the following books before the starting of the course:
P. De Grauwe, Economics of Monetary Union, Oxford: Oxford University Press, 2018 (12th edition).
C. Bastasin, Saving Europe, Brookings Institution Press, Washington, 2015 (Second edition).
M. Messori, The Financial Crisis: Understanding it to Overcome it, www.assogestioni.it, 2009.
The topics addressed in this course are too up-to-date to be systematically addressed in a specific textbook. However, the main parts of the course are covered by:
(1) M. Messori, Recovery Pathways. The difficult Italian Convergence in the Euro Area, Bocconi University Press, Milan 2021.
Useful integrations are offered by:
(2) sets of slides that refer to the various topics of the course.
The slides, referring to a given lesson, will be made available to students in advance (at least, two days before this lesson). References (1) and (2) are sufficient for the preparation of final exam.
Students could largely improve their learning process, if they strengthened their economic background on European problems by reading the following books before the starting of the course:
P. De Grauwe, Economics of Monetary Union, Oxford: Oxford University Press, 2018 (12th edition).
C. Bastasin, Saving Europe, Brookings Institution Press, Washington, 2015 (Second edition).
M. Messori, The Financial Crisis: Understanding it to Overcome it, www.assogestioni.it, 2009.
Contenuti
The content of the course will focus on the following topics:
- the general framework of the international crisis (financial and ‘real’: 2007-‘09);
- the impact of the international crisis on the European sovereign debt crisis;
- the ‘doom-loop’ between the sovereign debt crisis and the crisis of the European banking sector;
- the consequent evolution in the European economic governance and the launch of European aid programs;
- the interaction between risk reduction and risk sharing;
- LTRO and the road towards the ‘Fiscal Compact’;
- The stalemate in the European economic governance and the European Council of June 2012;
- The “whatever it takes” and the launch of the OMT;
- The Banking union and the Four President Report;
- The construction of the different pillars of the Banking Union and the Capital Markets Union;
- The long European recession (2011-’13) and the risk of deflation;
- The non-conventional monetary policies (T-LTRO and QE);
- The evolution of the QE and the flexibility of the fiscal policy;
- The Five President Report;
- The new Greek crisis and the starting of Brexit;
- The lack of trust and the decentralized coordination in the EMU and EU;
- The European political cycle;
- The European recovery (2016-18) and the initiative of the European Commission (December 2017);
- A new stagnation in the EA;
- The three phases of the pandemic shock;
- The ‘Next Generation – EU’ as a breakthrough.
- The short-term consequences of the war at the eastern border of the EU on the economic governance of the EA;
- The expected medium-long term consequences of the cold war.
- the general framework of the international crisis (financial and ‘real’: 2007-‘09);
- the impact of the international crisis on the European sovereign debt crisis;
- the ‘doom-loop’ between the sovereign debt crisis and the crisis of the European banking sector;
- the consequent evolution in the European economic governance and the launch of European aid programs;
- the interaction between risk reduction and risk sharing;
- LTRO and the road towards the ‘Fiscal Compact’;
- The stalemate in the European economic governance and the European Council of June 2012;
- The “whatever it takes” and the launch of the OMT;
- The Banking union and the Four President Report;
- The construction of the different pillars of the Banking Union and the Capital Markets Union;
- The long European recession (2011-’13) and the risk of deflation;
- The non-conventional monetary policies (T-LTRO and QE);
- The evolution of the QE and the flexibility of the fiscal policy;
- The Five President Report;
- The new Greek crisis and the starting of Brexit;
- The lack of trust and the decentralized coordination in the EMU and EU;
- The European political cycle;
- The European recovery (2016-18) and the initiative of the European Commission (December 2017);
- A new stagnation in the EA;
- The three phases of the pandemic shock;
- The ‘Next Generation – EU’ as a breakthrough.
- The short-term consequences of the war at the eastern border of the EU on the economic governance of the EA;
- The expected medium-long term consequences of the cold war.
Risultati di Apprendimento Attesi
The expected knowledge transmission is the supply of a set of tools sufficient to analyze the working of the European economic and institutional system. Thus, the students involved in this course will become able to read and to understand formal economic documents published by European institutions, to critically assess the content of an international newspaper’s article devoted to a European economic problem, and to follow the academic debate on the main European perspectives.
Criteri Necessari per l'Assegnazione del Lavoro Finale
This is an eligible course. Hence, it is difficult to conceive that students can decide to select the European economic problems as the main topic of their thesis. Moreover, the first- degree dissertation is a thesis centered on specific problems; and the European economic specific problems are difficult to handle.
In any case, from a formal point of view, I do not have any restriction for the assignment of the thesis but two:
- to have passed this exam with a good grade (> 25/30);
- to have an adequate economic background to address the topic selected.
In any case, from a formal point of view, I do not have any restriction for the assignment of the thesis but two:
- to have passed this exam with a good grade (> 25/30);
- to have an adequate economic background to address the topic selected.
Corsi
Corsi
ECONOMICS AND BUSINESS
Laurea
3 anni
No Results Found
Persone
Persone (3)
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