MONETARY ECONOMICS

The aim of the course is the introduction and study of money markets and monetary policies that are becoming increasingly important and crucial both nationally and internationally.
The knowledge of Monetary Economics is fundamental for any future economist who aspires to fill political roles but also for any other branch of economic specialization, given the ever-expanding monetary and financial markets and the related policies implemented by policy makers.
A further element that makes the material crucial is its ever greater influence in the real economy (as opposed to the theories of neutrality of money).

After having learned what money is and what its functions are. At the end of the course you will be able to understand the main monetary policies, including "quantitative easing" (QE) and other economic stabilization maneuvers. You will become familiar with the subject which, besides being extremely current, is always evolving, both in the payment instruments and in the policies implemented by the Central Banks. In fact, you will be able to read and understand institutional policy reports and the economic effects of different monetary measures, as well as the reasons behind government decisions.
You will also be able to learn in depth the reasons for the recent economic crisis and the connections with past ones.

Economics (Microeconomics).
Macroeconomics is not mandatory but allows a better understanding of the IS-LM model, for example. However, it is reiterated that the exam can be taken having passed the Microeconomics's exam.

PART I: INTRODUCTION
1. Why Study Money, Banking, and Financial Markets?
2. An Overview of the Financial System
3. What Is Money?

PART II: FINANCIAL MARKETS (Introduction)
4. The Meaning of Interest Rates
5. The Behavior of Interest Rates
6. The Risk and Term Structure of Interest Rates

PART III: FINANCIAL INSTITUTIONS 
12. Financial Crises

PART IV: CENTRAL BANKING AND THE CONDUCT OF MONETARY POLICY  
13. Central Banks and the Federal Reserve System
14. The Money Supply Process
15. Tools of Monetary Policy
16. The Conduct of Monetary Policy: Strategy and Tactics

PART VI: MONETARY THEORY 
19. Quantity Theory, Inflation, and the Demand for Money
20. The IS Curve
21. The Monetary Policy and Aggregate Demand Curves
22. Aggregate Demand and Supply Analysis
23. Monetary Policy Theory
24. The Role of Expectations in Monetary Policy
25. Transmission Mechanisms of Monetary Policy

Other topics
1. Financial Crises in Emerging Market Economies
2. The ISLM Model
3. Nonbank Finance
4. Financial Derivatives
5. Conflicts of Interest in the Financial Services Industry

Book: "Economics of Money, Banking and Financial Markets", 12th Edition By Frederic S. Mishkin (older editions could be used, be careful to the professor slides regarding more recent topics)

Written: Test with 5/6 questions (exercises and multiple choice)
Normally the exam lasts 1 hour and proposes exercises similar to those seen in classroom simulations

- Professor's Slides
- Book: "Economics of Money, Banking and Financial Markets", 12th Edition By Frederic S. Mishkin (older editions could be used, be careful to the professor slides regarding more recent topics)

English

Although Economic Policy (Macro) is not mandatory, it can help to understand the program. However, the teacher will try to resume the IS-LM model

written

This subject deals with topics related to the macro-area "International cooperation" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development