ECONOMIC POLICY (JAPAN)

The course is among those characterizing the Master's Degree Programme in Languages, Economics and Institutions of Asia and North Africa, for the curricula: Language, Societies and Institutions of Contemporary China and Language, Economics and Institutions of Japan. The course provides an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed. Important policy debates, such as the public debt, are critically explored. The course introduces basic models of macroeconomics and illustrates principles with the experience of the China and Japan economies.

1. Knowledge and comprehension skills:
1.1. interpreting the main macroeconomic phenomena and understanding aggregate indicators
1.2. Understanding trends in the economy and how the economy moves as a whole
1.3. Understanding the principal transmission channels through which monetary and fiscal policies affect economic growth

2. Applied knowledge and comprehension skills:
2.1. computing macroeconomic indicators to explain
macroeconomic performance
2.2. understanding real-world phenomena and evaluating alternative macroeconomic policies
2.3. understanding instruments and objectives of monetary and fiscal policies

3. Use of independent judgment:
3.1. Evaluating critically the policy debate with the methods and tools developed by macro economists
3.2. Assessing the potential and limitations of the models and methods used in economic analysis
3.3 Using different information to assess the stance of current fiscal and monetary policies and diagnose the outlook for the economy of China and Japan

Knowledge and comprehension skills of the course: Essentials of Economics

1. Introduction to Macroeconomics: Measuring Domestic Output and National Income
1.2 Economic Growth, Business Cycles, Unemployment, and Inflation
2. Basic Macroeconomic Relationships
2.1. The Aggregate Expenditures Model
2.2. Aggregate Demand and Aggregate Supply
2.3. Fiscal Policy, Deficit, and Debt
3. Money, Banking, and Financial Institutions
3.1. Money Creation
3.2. Interest Rates and Monetary Policy
4. The IS-LM Model
4.1. Fiscal Policy and Monetary Policy Using IS-LM Model
4.2. Liquidity Trap and Crowding out Effects

Sloman, J. e Garratt, D., Elementi di economia, il Mulino, Bologna, 2010 (Introduction and Section II e III)

Readings and handouts will be available online in the Moodle website.

The exam consists of a written test, composed of 3 to 6 questions, which aims to verify the learning of the concepts and the ability to apply them to the economies of China and Japan. There is no oral exam.
- Duration of the written exam: 1h-1: 30h
- Each answer is worth a variable number of points depending on the question. The final grade of the task is given by the sum of the points obtained in the answers.The exam is passed if the sum is at least 18. If the sum of the points exceeds 30 the "lode" will be awarded.

Questions can be:
- theoretical
- analytical exercises
- numerical exercises
- multiple choice questions
- charts, tables and macro-economic indicators to be commented.

The Moodle website will include exercises and examples of exam questions with solutions.

The course is organized in:
a) lectures
b) classroom exercises, with Active Learning sessions guided by the teacher during the course
c) classroom reading activities of economic articles on China and Japan
d) individual study

Students are encouraged to attend classes in an active way, reading the chapters of the book before coming to class and doing the exercises (available on the Moodle platform).
Economic models can be expressed in various ways, in words, in diagrams and in equations. Although this course mainly uses diagrammatic representations accompanied by words, simple equations can also be a concise way of expressing an economic model, and students will need to become familiar with this approach. The maths involved will be limited to simple algebra and elementary calculus. Some basic mathematical techniques will be also introduced in the first lessons.

Italian

Accessibility, Disability and Inclusion
Accommodation and support services for students with disabilities and students with specific learning impairments

Ca' Foscari abides by Italian Law (Law 17/1999; Law 170/2010) regarding support services and accommodation available to students with disabilities. This includes students with mobility, visual, hearing and other disabilities (Law 17/1999), and specific learning impairments (Law 170/2010). If you have a disability or impairment that requires accommodations (i.e., alternate testing, readers, note takers or interpreters) please contact the Disability and Accessibility Offices in Student Services: disabilita@unive.it.

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