ECONOMIC POLICY

Economic policy and conflicts. The normative theory of economic policy. The welfare economics. 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 regimes of the macroeconomic disequilibrium. 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. Inflation and the anti-inflation policy. The Phillips curve. Macroeconomic policies and strategic behaviors of Governments and citizens. Growth and development policy.

The balance of payments and currency rates. Macroeconomic policy in open markets: the IS-LM-BP model. The main European institutions and economic policies. The economic policy in the era of globalization

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