ECONOMIC POLICY A - L

The development of the knowledge about policy-making. Political objectives, instruments and economic models with an eye on macroeconomic complexity. Individual and collective decision. Fiscal and monetary policy.

Lectures.

Economic policy and conflicts*. The normative theory of economic policy*. The microeconomic failures of the market: the market power; externalities and public goods*. Merit and demerits goods; asymmetric information. Income distribution and social welfare*. The welfare state*. The level of the aggregate income in the fundamental models of the macroeconomic analysis*. The fiscal policy*. The role of money and the monetary policy*. The inflation and anti- inflation policies*. The Phillips curve*. Growth and development policies*. The balance of payments and the currency rates*. Macroeconomic policy in open markets: the IS-LM-BP model*. Economic Policies in the European Union*. The economic policy in the era of globalization*.

Cellini R., Politica Economica. Introduzione ai modelli fondamentali. McGraw-Hill, Milano, II edizione, 2011.