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GLOBAL ECONOMICS

Syllabus

EN IT

Learning Objectives


The course examines the essential elements of macroeconomics in the context of advanced and emerging mixed market-based economies. The course focuses on the labour market, firms and technology, money and finance, macroeconomics and consumption, and macroeconomic policy. The last part of the course is devoted to globalization and economic relations between nation-states, an analysis of the major macroeconomic crises, and an introduction to environmental macroeconomics.

After this course, students will be able to:

KNOWLEDGE AND COMPREHENSION SKILLS:
- Acquire and demonstrate mastery of general concepts related to macroeconomics and to economic policy, with particular regard to aggregate dynamics;
- Understand and apply the main tools of political economy;
- Identify key theories and concepts of macroeconomics.

ABILITY TO APPLY KNOWLEDGE AND UNDERSTANDING:
- Apply theories relating to the main macroeconomic aggregates;
- Contextualise theories relating to economic policy.

AUTONOMY OF JUDGEMENT:
- Evaluate the main macroeconomic aggregates in the context of the business cycle and of long-run economic growth;
- Make relevant judgements on the appropriateness of alternative measure of economic policy.

COMMUNICATION SKILLS:
- Analyse and prepare written reports on case studies;
- Present concepts and draw logical connections in a clear and effective fashion.

Prerequisites

No formal pre-requisites

Program

Topic 1
Prosperity, inequality, and planetary limits. (CORE Microeconomics, Unit 1)

Topic 2
Technology and incentives (CORE Microeconomics, Unit 2)

Topic 3
Labour supply: scarcity, well-being, and working hours (CORE Microeconomics, Unit 3)

Topic 4
Labour demand: the firm and its employees (CORE Microeconomics, Unit 6)

Topic 5
The supply side of the macroeconomy: the labour market, real wages and inequality (CORE Macroeconomics, Units 1 and 2)

Topic 6
Aggregate demand, inflation and unemployment (CORE Macroeconomics, Units 3 and 4)

Topic 7
Macroeconomic policy: fiscal and monetary policy (CORE Macroeconomics, Unit 5)

Topic 8
Debt, money, and financial markets (CORE Macroeconomics, Unit 6)

Topic 9
Macroeconomic policy in the global economy (CORE Macroeconomics, Unit 7)

Topic 10
Economic dynamics: financial and environmental crises (CORE Macroeconomics, Unit 8)

Topic 11
Uneven development on a global scale (CORE Macroeconomics, Unit 9)

Topic 12
Government as economic actor: economics, politics, and public policy (CORE Macroeconomics, Unit 10)

Books

CORE, The Economy 2.0. Microeconomics.
CORE, The Economy 2.0. Macroeconomics.
CORE Project. https://core-econ.org/the-economy/?lang=en

Bibliography

Lecture materials handed over online and the detailed reading list for each topic will be made available step by step with the intent of tailoring the course contents to students' needs, interests and reactions.

Teaching methods

The course combines the traditional teaching method based on lectures, exercises, and problems, with experiments in active classroom learning with students being assigned material before class, which is then used as a basis for discussion and activity.

Exam Rules

Class participation (20% of final grade)
Midterm examination (40% of final grade)
The midterm examination consists of a mandatory written examination consisting of open questions, multiple-choice questions, and exercises.
Final examination (40% of final grade)
The final examination consists of a mandatory oral of approximately 20 minutes.

Students who do not attend lectures (class attendance below 80%) will be required to sit a mandatory written examination based on the course materials.

For assessment purposes, the following scheme will be used:

Unsuitable: major deficiencies and/or inaccuracies in the knowledge and understanding of the topics; limited capacity for analysis and synthesis, frequent generalisations and limited critical and judgmental skills, the topics are set out inconsistently and with inappropriate language;

18-20: barely sufficient knowledge and understanding of the topics with possible generalisations and imperfections; sufficient capacity for analysis synthesis and autonomy of judgement, the topics are frequently exposed in an incoherent way and with inappropriate/technical language;

21-23: Routine knowledge and understanding of topics; ability to analyse and synthesise correctly with sufficiently coherent logical argumentation and appropriate/technical language

24-26: Fair knowledge and understanding of the topics; Good analytical and synthetic skills with arguments expressed in a rigorous manner but with language that is not always appropriate/technical.

27-29: Comprehensive knowledge and understanding of the topics; considerable capacity for analysis and synthesis. Good autonomy of judgement. Arguments presented in a rigorous manner and with appropriate/technical language

30-30L: Excellent level of knowledge and thorough understanding of topics. Excellent analytical and synthetic skills and independent judgement. Arguments expressed in an original manner and with appropriate technical language.

Attendance Rules

Attendance is required from the very first lesson and you need to attend at least 80% of the course to be considered an attending student.