Syllabus
EN
IT
LORENZO PECCHI
Prerequisites
introductory courses in microeconomics and macroeconomics-
Program
1st Module
Topic 1 The nation and the world economy
Topic 2 Balance of payments and international investment position
Topic 3 The Keynesian open economy model and its balance of payment implications
2nd Module
Topic 1 World Trade Overview
Topic 2 The Ricardian Model
Topic 3 The Specific Factors Model
Topic 4 The Heckscher-Ohlin Model
Topic 5 The Standard Trade Model
Topic 6 External Economies of scale and Monopolistic Competition
Topic 7 International Trade policies
Topic 8 Determination of FX in the Short-run and in the Long-run
Topic 9 Output and Exchange rate in the short run
Topic 10 Alternative International Monetary System: An Historical Overview
Topic 11 Optimal Currency Area and the European Experience
Topic 12 Financial Globalization: Opportunity or Crisis?
Topic 1 The nation and the world economy
Topic 2 Balance of payments and international investment position
Topic 3 The Keynesian open economy model and its balance of payment implications
2nd Module
Topic 1 World Trade Overview
Topic 2 The Ricardian Model
Topic 3 The Specific Factors Model
Topic 4 The Heckscher-Ohlin Model
Topic 5 The Standard Trade Model
Topic 6 External Economies of scale and Monopolistic Competition
Topic 7 International Trade policies
Topic 8 Determination of FX in the Short-run and in the Long-run
Topic 9 Output and Exchange rate in the short run
Topic 10 Alternative International Monetary System: An Historical Overview
Topic 11 Optimal Currency Area and the European Experience
Topic 12 Financial Globalization: Opportunity or Crisis?
Books
The Economy. CORE Project (selected chapters). https://core-econ.org/the-economy/?lang=en
International Economics: Theory and Policy di Krugman-Obstfeld-Melitz.
International Economics: Theory and Policy di Krugman-Obstfeld-Melitz.
Bibliography
1st Module
Lecture material handed over on line.
2nd Module
Lecture material handed over on line.
International Economics: Theory and Policy by Krugman-Obstfeld-Melitz
Understanding Global Trade by E. Helpman
The Globalization Paradox: Democracy and the Future of the World Economy by D. Rodrik.
Lecture material handed over on line.
2nd Module
Lecture material handed over on line.
International Economics: Theory and Policy by Krugman-Obstfeld-Melitz
Understanding Global Trade by E. Helpman
The Globalization Paradox: Democracy and the Future of the World Economy by D. Rodrik.
Teaching methods
1st Module:
Students are expected to read the material for every class and participate in every lecture.
2nd Module:
Lectures will make use of oral presentations. Analysis will also be presented at the board, and used for open discussion. Interaction between teacher and student will be encouraged.
Students are expected to read the material for every class and participate in every lecture.
2nd Module:
Lectures will make use of oral presentations. Analysis will also be presented at the board, and used for open discussion. Interaction between teacher and student will be encouraged.
Exam Rules
Module I (Prof. Paesani) counts for 1/3 of the course grade. Module II (Prof. Pecchi) counts for 2/3 of the course grade.
Module 1. During the week of the mid-term a written exam for attending students (more than 80% of in class presence) will be administered. Non attending students and students who do not take or fail the mid-term will take a written exam at the end of the course.
Module 2. Students will be assessed on the results obtained on the homework to be done in groups and the final written exam which is done individually. Homework counts for 30 per cent and final exam for 70 per cent. Students who have not attended at least 15 lectures for the 2 hours will be valued only on the written exam.
Module 1. During the week of the mid-term a written exam for attending students (more than 80% of in class presence) will be administered. Non attending students and students who do not take or fail the mid-term will take a written exam at the end of the course.
Module 2. Students will be assessed on the results obtained on the homework to be done in groups and the final written exam which is done individually. Homework counts for 30 per cent and final exam for 70 per cent. Students who have not attended at least 15 lectures for the 2 hours will be valued only on the written exam.
PAOLO PAESANI
Prerequisites
No formal pre-requisites
Program
The Course is divided into two Modules (Introduction to International Economics and Game Theory).
The first module provides students with an overview of the economic and financial links between a country and the world economy, using the balance of payments and the Keynesian income-expenditure model in an open economy as a reference.
The 2nd module is an introduction to game theory. The criterion of dominance and the equilibrium of Nash will be analysed with pure strategies and mixed strategies, as well as different refinements of the equilibrium (Backwards Induction, subgame perfect Nash equilibrium). An introduction to Bayesian equilibrium and repeated games will also be provided. The lessons use several examples in the field of economics, politics and economic policy. This year we will use strategic frameworks to analyze the conflict between Ukraine and Russia.
During each lecture, the lecturers present the planned content with the aid of power point presentations and invite students to critical reflection and dialogue.
The first module provides students with an overview of the economic and financial links between a country and the world economy, using the balance of payments and the Keynesian income-expenditure model in an open economy as a reference.
The 2nd module is an introduction to game theory. The criterion of dominance and the equilibrium of Nash will be analysed with pure strategies and mixed strategies, as well as different refinements of the equilibrium (Backwards Induction, subgame perfect Nash equilibrium). An introduction to Bayesian equilibrium and repeated games will also be provided. The lessons use several examples in the field of economics, politics and economic policy. This year we will use strategic frameworks to analyze the conflict between Ukraine and Russia.
During each lecture, the lecturers present the planned content with the aid of power point presentations and invite students to critical reflection and dialogue.
Books
Module Paesani
1. The Economy. CORE Project (selected chapters). https://core-econ.org/the-economy/?lang=en
2. Lecture material handed over on line.
Module Chiarini
The teacher will refer the student, by the end of each week, to the relevant material on the basis of the above topics:
Pdf lessons of the teacher, downloadable.
One of the following volumes:
Gibbons A. Primer in Game Theory, Prentice Hall
Osborne M. Introduction to Game Theory: International Edition, OUP Oxford
1. The Economy. CORE Project (selected chapters). https://core-econ.org/the-economy/?lang=en
2. Lecture material handed over on line.
Module Chiarini
The teacher will refer the student, by the end of each week, to the relevant material on the basis of the above topics:
Pdf lessons of the teacher, downloadable.
One of the following volumes:
Gibbons A. Primer in Game Theory, Prentice Hall
Osborne M. Introduction to Game Theory: International Edition, OUP Oxford
Exam Rules
The examination assesses the student's overall preparation, ability to integrate the knowledge of the different parts of the program, consequentiality of reasoning, analytical ability and clarity of presentation, in accordance with the Dublin descriptors (1. knowledge and understanding; 2. applying knowledge and understanding; 3. making judgements; 4. learning skills; 5. communication skills).
Module I (Prof. Paesani) counts for 1/3 of the course grade.
Module II (Prof. Chiarini) counts for 2/3 of the course grade.
Exam Module Paesani
The verification of learning takes place exclusively through a final examination which consists of a written exam. The exam consists of three open questions (same weight, 1/3 of final mark) plus a bonus question.
The objective of the final examination is to verify the achievement of the course learning outcome. In particular, the examination assesses the student's overall preparation, ability to integrate knowledge of the different parts of the programme, consequentiality of reasoning, analytical ability and autonomy of judgement. In addition, language skills and clarity of exposition are assessed, in adherence with the Dublin descriptors.
Minimum score for passing the written test 18 out of 30.
Students may take the examination on all available dates. there is no roll-call jump.
Exam module Chiarini
If the students are always present at the lessons (more than 80% of in class presence), it will be possible to take during the week of the mid-term a mid-term summary test based on the first 3 weeks of class on the work done (20% of the grade). The remaining 80% will be a written test. Non attending students will have to perform a longer final written exam on the whole program.
Grading criteria valid for both modules
FAIL: important deficiencies and/or inaccuracies in the knowledge and understanding of the topics; limited ability to analyse and synthesise, frequent generalisations and limited critical and judgemental 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 manner 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.
Module I (Prof. Paesani) counts for 1/3 of the course grade.
Module II (Prof. Chiarini) counts for 2/3 of the course grade.
Exam Module Paesani
The verification of learning takes place exclusively through a final examination which consists of a written exam. The exam consists of three open questions (same weight, 1/3 of final mark) plus a bonus question.
The objective of the final examination is to verify the achievement of the course learning outcome. In particular, the examination assesses the student's overall preparation, ability to integrate knowledge of the different parts of the programme, consequentiality of reasoning, analytical ability and autonomy of judgement. In addition, language skills and clarity of exposition are assessed, in adherence with the Dublin descriptors.
Minimum score for passing the written test 18 out of 30.
Students may take the examination on all available dates. there is no roll-call jump.
Exam module Chiarini
If the students are always present at the lessons (more than 80% of in class presence), it will be possible to take during the week of the mid-term a mid-term summary test based on the first 3 weeks of class on the work done (20% of the grade). The remaining 80% will be a written test. Non attending students will have to perform a longer final written exam on the whole program.
Grading criteria valid for both modules
FAIL: important deficiencies and/or inaccuracies in the knowledge and understanding of the topics; limited ability to analyse and synthesise, frequent generalisations and limited critical and judgemental 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 manner 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.