SECS-P/01 (ECONOMIA POLITICA)
DIPARTIMENTO DI SCIENZE ECONOMICHE E AZIENDALI
Corso di studio
ECONOMICS, FINANCE AND INTERNATIONAL INTEGRATION - ECONOMIA, FINANZA E INTEGRAZIONE INTERNAZIONALE
International Economic Integration and Development
Secondo Semestre (18/02/2019 - 18/05/2019)
44 ore di attività frontale
The course focus is on the costs and benefits of a monetary union (MU). Emphasis is put on the analysis of why the incompleteness of the Eurozone creates additional costs and leads to problems of sustainability. This will lead to study the different policies needed to complete EMU.
EMU history, its institutions (i.e. the European Central Bank - ECB) and its actual working mechanisms are also analysed.
Programma e contenuti
The cost of a common currency. The theory of optimum currency areas: a critique. The benefits of a common currency. Costs and benefits compared. The fragility of incomplete MU. How to complete a MU. Transition to a MU. The ECB. Monetary policy in the Eurozone. Fiscal policies in MUs. The Euro and financial markets.
Classroom lessons by the teacher and seminars by external experts.
Testi di riferimento
P. De Grauwe, ""Economics of Monetary Union" 11th Edition, Oxford University Press.
Modalità verifica apprendimento
Written mid-term and final exam: the mid-term in November, the final in January. During all other exam sessions it will be possible to take a written exam on the entire program. Eventually, it will be possible to take an oral completing exam.