Optional group:
One course to be chosen between: (Un insegnamento a scelta tra:) - (show)
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9
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21210236 -
Game Theory
(objectives)
The course is a primer in game theory that aims to introduce students to the language and methods used to analyze static and dynamic games of complete and incomplete information. Special emphasis is posed on economic applications. Among the others, the course deals with problems concerning business strategies such as those related to the determination of sale prices and production/distribution, strategies related to firm entry/exit and market positioning, bargaining, auction strategies and mechanisms, optimal policy, issues related to agents’ credibility and to the time-consistence/sustainability of their decisions.
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TIRELLI MARIO
( syllabus)
Part I – Games of complete information.
1. Static games: Normal form games. Solution concepts. Nash equilibrium in pure and mixed strategies. Dominance solvable games. Applications.
2. Dynamic games: Games in extensive form. Nash equilibria. Backward induction and Subgame Perfect Nash Equilibria. Applications. Repeated games. Applications.
Part II – Games of incomplete information.
3. Static games. Normal form representation. Bayesian-Nash equilibrium. Applications.
( reference books)
Martin J. Osborne, An Introduction to Game Theory, Oxford University Press. 2003 or later editions.
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SALUSTRI FRANCESCO
( syllabus)
Part I – Games of complete information.
1. Static games: Normal form games. Solution concepts. Nash equilibrium in pure and mixed strategies. Dominance solvable games. Applications.
2. Dynamic games: Games in extensive form. Nash equilibria. Backward induction and Subgame Perfect Nash Equilibria. Applications. Repeated games. Applications.
Part II – Games of incomplete information.
3. Static games. Normal form representation. Bayesian-Nash equilibrium. Applications.
( reference books)
Martin J. Osborne, An Introduction to Game Theory, Oxford University Press. 2003 or later editions.
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9
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SECS-P/01
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60
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-
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Core compulsory activities
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ENG |
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21210130 -
Monetary theory, institutions and policy
(objectives)
The first module (20 hours) of the course aims to provide students with the tools needed to understand the functioning of a monetary economy, the structure of interest rates, and the operative aspects of Central Bank monetary policies. It explains what money is, the debate on its origins, the different approaches to the determinants of the demand for money and its supply, monetary policy instruments, and equilibrium in the asset markets.
The second module (40 hours) concentrates on the relations between money, prices, and outputs in the short as well as the long run. It also analyses the debate on rules and discretion in monetary policies, the Taylor rule, issues related to exchange rates, and the sustainability of public debt. These themes are developed according to both a traditional and heterodox approach.
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LEVRERO ENRICO SERGIO
( syllabus)
First Module
1. The debate on the origin of money
2. The supply of money and its endogeneity
3. The equilibrium of the financial sector
4. Conventional and unconventional monetary policies
5. The structure of the interest rates
Second Module
6. Money, prices, and output in the traditional and post-Keynesian models
7. The transmission channels of the monetary policies
8. Monetary policy, capital movements, and the exchange rate
9. The price puzzle and the cost channel of monetary policy
10. Rules and discretion
11. Money and public finance
( reference books)
Bank of England, Quarterly Bulletin, Q1, 54, 1, 2014, pp. 4-28 (Module 1)
N.S. Balke and K.M. Emery, “Understanding the price puzzle”, Economic Review— Fourth Quarter 1994, Federal Reserve Bank of Dallas, pp. 15-26 (Module 2)
R. Ciccone, “Public Debt and Aggregate Demand: Some Unconventional Analytics”, in E.S. Levrero, A. Palumbo and A. Stirati (eds), Sraffa and the Reconstruction of Economic Theory: volume 2. Aggregate Demand, Policy Analysis and Growth, Palgrave Macmillan, 2013, pp. 15-28 (Module 2)
B. Friedman, “Crowding Out or Crowding In? Economic Consequences of Financing Government Deficits”, Brookings Papers on Economic Activity, 3:1978, pp. 599-603 and 609-620 (Module 2)
C.A.E Goodhart, Money, information and uncertainty, Second edition, Macmillan, 1989, pp. 24-50, 51-57, 129-137 (Module 1)
A. Lavoie, Post-Keynesian Economics: New Foundations, Edward Elgar, 2014, pp. 186-225 and 245-252 (Module 1)
M. Pivetti, “Interest and profits in Smith, Ricardo and Marx”, Political Economy. Studies in the surplus approach, 3, 1, 1987, pp. 63-74 (Module 2)
W. Poole, “Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model”, The Quarterly Journal of Economics, 84, 2, 1970), pp. 197-203 (Module 2)
J. Smithin, The theory of interest rates, in P. Arestis and M. Sawyer, A Handbook of Alternative Monetary Economics, Edward Elgar, 2006, pp. 273-290 (Module 2)
M. Vernengo, Money and inflation, in P. Arestis and M. Sawyer, A Handbook of Alternative Monetary Economics, Edward Elgar, 2006, pp. 476-489 (Module 1 and 2)
C.E. Walsh, Monetary Theory and Policy, third edition, The Mit Press, 2010, pp. 21-24, 33-71, 134-162, 195-209, 465-475 (Module 1 and 2)
C. E. Walsh, “Teaching Inflation Targeting: An Analysis for Intermediate Macro”, Journal of Economic Education, Fall 2002, pp. 333-346 (Module 2).
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9
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SECS-P/01
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60
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Core compulsory activities
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ITA |
21210458 -
Theories of distribution, employment and growth
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STIRATI ANTONELLA
( syllabus)
The course will present alternative theories of primary income distribution and employment and draw their implications for
- the analysis of growth,
- the causes and effects of technical change
- the impact of labour market reforms and macroeconomic policies
- the interpretation of the changes in income distribution and their impact on employment and growth
During the course, data and results of empirical literature will lso be presented.
( reference books)
Various papers and essays collected in hand-outs available online (moodle) and at the library. Below the detail:
INTRODUCTORY - FOUNDATIONS:
hand-outs with copy of:
Fabio Petri, "What capital theory can teach us"
Pierangelo Garegnani "Two routes to effective demand"
Antonella Stirati “Unemployment, institutions and the living standard in the classical theory of wages”
Antonella Stirati “Employment theories from Adam Smith to the present: an overview”
PART II PRODUCTIVITY EMPLOYMENT AND GROWTH:
R. Harrod, "An essay on dynamic theory
R. Solow, "A contribution to the theory of Economic growth
Cesaratto, Serrano e Stirati “Technical change, effective demand and employment”
N. Kaldor, On the causes of slow growth in UK
A. Okun “Potential GNP: its measurement and significance”
“Puzzles, paradoxes, and regularities: cyclical and structural productivity in the United States (1950-2005)” di Jeon e Vernengo, da pag. 237 a 243
PART III - READINGS ON: FLEXIBILITY and EMPLOYMENT; CAUSES OF THE CHANGES IN INCOME DISTRIBUTION; CONFLICT OVER INCOME DISTRIBUTION AND ECONOMIC POLICY
The professor will propose readings that will be presented by the students. Intersted students will be given the opportunity to read papers on these themes relating to the Italian Economy.
All the reading for the course will be made available online to the students attending the course
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9
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SECS-P/01
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60
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Core compulsory activities
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ITA |
21801595 -
PUBLIC ECONOMICS
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Derived from
21201492 ECONOMIA PUBBLICA in Economia dell'ambiente, lavoro e sviluppo sostenibile LM-56 LIBERATI PAOLO
( syllabus)
The course will focus on the fundamental problems of public economics in their domestic and European dimension. In particular, the following will be studied:
1. Public expenditure for the welfare state, with reference to the following topics: pension systems; healthcare; instruction; assistance; anti-poverty programmes;
2. Public intervention in public utility services of an industrial nature and market regulation mechanisms;
3. Fiscal policy in the Economic and Monetary Union
4. The decentralization of taxes and spending powers
( reference books)
1. Bosi P. (2023), Corso di scienza delle finanze, ninth edition, Il Mulino, Bologna. Capitoli I, IV, V, VI, VII, VIII
2. For attending students, additional material may be distributed by the teacher during the lessons
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9
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SECS-P/03
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60
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Core compulsory activities
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ITA |
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21210459 -
Applied Economic Policy Laboratory
(objectives)
Acquisition of methodological and technical knowledge and development of professional skills in applied economics and economic policy, through an educational program that alternates lectures, practical classes and thematic seminars with external experts; practical classes introduce to the statistical and information sources for applied economic and economic policy analysis and train for data elaborations and reporting activities; seminars are addressed, year by year, to relevant topics for the Italian economy and allow to get in touch with applied professional economists working in the private sector and in public institutions; at the end of the training process students are required to draft a research report and to discuss it during the final examination.
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CAUSI MARCO
( syllabus)
This program regards both didactic modules (30 hours each, for a total of 60 hours).
The approach of the Laboratory is applied and inter-disciplinary. The learning objectives are focused on the development of professional capacities in applied economics and economic policy, with a planning that alternates lectures, practical classes and seminars with external experts.
Students will acquire skills in the subsequent fields of applied economics:
a) definition and interpretation of the main macroeconomic indicators; analysis of statistical sources and institutional reporting about the Italian and European Union economies.
b) territorial and sectoral analysis.
c) tools and methods for economic policies and planning, and application to public choices.
In each edition there will be a particular monographic in-depth analysis on some of the following topics: the productive structure of the Italian economy and different interpretations of its points of strength and of weakness; European economic governance and national cycle of budget decision; territorial analysis of the Italian economy; services of general economic interest and public utilities: markets and regulation, with specific analysis for public transport, energy production, production and distribution of electric and gas power, water and waste disposal services; banking and insurance industries; industrial policies; etc.
An integrant part of the course, that constitutes element for final evaluation, is the drafting, by each student, of a research report (a written report or an exercise in applied economics or other types of monograph study chosen with the agreement of professors).
The particular structure of the Laboratory requires the compulsory attendance to seminars and practical classes. Attendance to all lectures is highly advised. The program for students that cannot attend lectures has to be agreed on with the teachers.
( reference books)
The reference material is constituted mainly by reports and data bases of national and international public and research institutions (Istat, Bank of Italy, European Commission, Eurostat, OECD, IMF, etc.) and by reading lists for the thematic seminars.
It will be indicated during the classes and made available for students through the Moodle page of the course.
-
PALUMBO ANTONELLA
( syllabus)
The approach of the Laboratory is applied and inter-disciplinary. The learning objectives are focused on the development of professional capacities in applied economics, with a planning that alternates lectures, practical classes and seminars with external experts.
Students will acquire skills in the subsequent fields of applied economics:
a) definition and interpretation of the main macroeconomic indicators; analysis of statistical sources and institutional reporting about the Italian and European Union economies;
b) territorial and sectoral analysis;
c) tools and methods for economic policies and planning, and application to public choices.
In each edition there will be a particular monographic in-depth analysis on some of the following topics: the productive structure of the Italian economy and different interpretations of its points of strength and of weakness; European economic governance and national cycle of budget decision; territorial analysis of the Italian economy; services of general economic interest and public utilities: markets and regulation, with specific analysis for public transport, energy production, production and distribution of electric and gas power, water and waste disposal services; tourism and cultural tourism.
An integrant part of the course, that constitutes element for final evaluation, is the drafting, by each student, of a research report (a written report or an exercise in applied economics or other types of monograph study chosen with the agreement of professors).
The particular structure of the Laboratory requires the compulsory attendance to seminars and practical classes. Attendance to all lectures is highly advised. The programme for students that cannot attend lectures has to be agreed on with the teachers.
( reference books)
The reference material is constituted mainly by reports and data bases of national and international public and research institutions (Istat, Bank of Italy, European Commission, Eurostat, OECD, IMF, etc.) and by reading lists for the thematic seminars.
It will be indicated during the classes and made available to students on the website of the course.
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9
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SECS-P/02
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60
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Core compulsory activities
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ITA |
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Optional group:
Economic analysis: Free Choice (Un insegnamento a scelta libera) : - (show)
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9
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21210065 -
Statistical methods in economics
(objectives)
The main objective of the course is to provide the fundamental tools for the application of statistical methods to the analysis of economic data. The theoretical part will be supported by an applied part devoted to the analysis of real data sets by means of the software R. One lecture per week will be held in the computer lab. A student that has completed the course should be practiced in the application of advanced statistical methods, should be able to interpret the results of a statistical analysis, and should be aware of limitations and possible sources of errors in the analysis.
-
Derived from
21210065 Statistical methods in economics in Economia dell'ambiente, lavoro e sviluppo sostenibile LM-56 CONIGLIANI CATERINA
( syllabus)
Part I: Introduction to data analysis and exploratory tecniques
- Cluster analysis
- Principal component analysis
Part 2: Normal linear regression and its generalizations
- Polynomial regression
- Multiple regression
- Logistic regression
- Beta regression
- Poisson and negative binomial regression for count data
- Spatial regression models
Part 3: Panel data analysis
- Fixed effects and random effects models for dicotomous, categorical and continuous variables
- Spatial regression models for panel data.
( reference books)
Chatterjee,S. and Hadi, A.S. (2012), Regression Analysis by Example, 5th Edition, Wiley. Chapters: 1, 2, 3 (excluding 3.9), 4 (excluding 4.3, 4.9.2, 4.9.3, 4.10, 4.12, 4.13, 4.14), 5 (excluding 5.6 and 5.7), 6 (excluding 6.6 and 6.7), 9, 11, 12 (excluding 12.8.3 and 12.8.4), 13 (excluding 13.5, 13.6, 13.7).
Fox,J. and Weisberg, S. (2010), An R companion to applied regression, 2nd Edition, SAGE publications Inc.
Andreb, H-J, Golsch, K., Schmidt, A.W. (2013), Applied panel data analysis for economic and social
surveys, Springer. Chapters: 1, 2, 3, 4
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9
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SECS-S/01
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60
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Elective activities
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ITA |
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21210236 -
Game Theory
(objectives)
The course is a primer in game theory that aims to introduce students to the language and methods used to analyze static and dynamic games of complete and incomplete information. Special emphasis is posed on economic applications. Among the others, the course deals with problems concerning business strategies such as those related to the determination of sale prices and production/distribution, strategies related to firm entry/exit and market positioning, bargaining, auction strategies and mechanisms, optimal policy, issues related to agents’ credibility and to the time-consistence/sustainability of their decisions.
-
TIRELLI MARIO
( syllabus)
Part I – Games of complete information.
1. Static games: Normal form games. Solution concepts. Nash equilibrium in pure and mixed strategies. Dominance solvable games. Applications.
2. Dynamic games: Games in extensive form. Nash equilibria. Backward induction and Subgame Perfect Nash Equilibria. Applications. Repeated games. Applications.
Part II – Games of incomplete information.
3. Static games. Normal form representation. Bayesian-Nash equilibrium. Applications.
( reference books)
Martin J. Osborne, An Introduction to Game Theory, Oxford University Press. 2003 or later editions.
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9
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SECS-P/01
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60
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-
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-
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-
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Elective activities
|
ENG |
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21210130 -
Monetary theory, institutions and policy
(objectives)
The first module (20 hours) of the course aims to provide students with the tools needed to understand the functioning of a monetary economy, the structure of interest rates, and the operative aspects of Central Bank monetary policies. It explains what money is, the debate on its origins, the different approaches to the determinants of the demand for money and its supply, monetary policy instruments, and equilibrium in the asset markets.
The second module (40 hours) concentrates on the relations between money, prices, and outputs in the short as well as the long run. It also analyses the debate on rules and discretion in monetary policies, the Taylor rule, issues related to exchange rates, and the sustainability of public debt. These themes are developed according to both a traditional and heterodox approach.
-
LEVRERO ENRICO SERGIO
( syllabus)
First Module
1. The debate on the origin of money
2. The supply of money and its endogeneity
3. The equilibrium of the financial sector
4. Conventional and unconventional monetary policies
5. The structure of the interest rates
Second Module
6. Money, prices, and output in the traditional and post-Keynesian models
7. The transmission channels of the monetary policies
8. Monetary policy, capital movements, and the exchange rate
9. The price puzzle and the cost channel of monetary policy
10. Rules and discretion
11. Money and public finance
( reference books)
Bank of England, Quarterly Bulletin, Q1, 54, 1, 2014, pp. 4-28 (Module 1)
N.S. Balke and K.M. Emery, “Understanding the price puzzle”, Economic Review— Fourth Quarter 1994, Federal Reserve Bank of Dallas, pp. 15-26 (Module 2)
R. Ciccone, “Public Debt and Aggregate Demand: Some Unconventional Analytics”, in E.S. Levrero, A. Palumbo and A. Stirati (eds), Sraffa and the Reconstruction of Economic Theory: volume 2. Aggregate Demand, Policy Analysis and Growth, Palgrave Macmillan, 2013, pp. 15-28 (Module 2)
B. Friedman, “Crowding Out or Crowding In? Economic Consequences of Financing Government Deficits”, Brookings Papers on Economic Activity, 3:1978, pp. 599-603 and 609-620 (Module 2)
C.A.E Goodhart, Money, information and uncertainty, Second edition, Macmillan, 1989, pp. 24-50, 51-57, 129-137 (Module 1)
A. Lavoie, Post-Keynesian Economics: New Foundations, Edward Elgar, 2014, pp. 186-225 and 245-252 (Module 1)
M. Pivetti, “Interest and profits in Smith, Ricardo and Marx”, Political Economy. Studies in the surplus approach, 3, 1, 1987, pp. 63-74 (Module 2)
W. Poole, “Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model”, The Quarterly Journal of Economics, 84, 2, 1970), pp. 197-203 (Module 2)
J. Smithin, The theory of interest rates, in P. Arestis and M. Sawyer, A Handbook of Alternative Monetary Economics, Edward Elgar, 2006, pp. 273-290 (Module 2)
M. Vernengo, Money and inflation, in P. Arestis and M. Sawyer, A Handbook of Alternative Monetary Economics, Edward Elgar, 2006, pp. 476-489 (Module 1 and 2)
C.E. Walsh, Monetary Theory and Policy, third edition, The Mit Press, 2010, pp. 21-24, 33-71, 134-162, 195-209, 465-475 (Module 1 and 2)
C. E. Walsh, “Teaching Inflation Targeting: An Analysis for Intermediate Macro”, Journal of Economic Education, Fall 2002, pp. 333-346 (Module 2).
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9
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SECS-P/01
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60
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-
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-
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-
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Elective activities
|
ITA |
21210458 -
Theories of distribution, employment and growth
-
STIRATI ANTONELLA
( syllabus)
The course will present alternative theories of primary income distribution and employment and draw their implications for
- the analysis of growth,
- the causes and effects of technical change
- the impact of labour market reforms and macroeconomic policies
- the interpretation of the changes in income distribution and their impact on employment and growth
During the course, data and results of empirical literature will lso be presented.
( reference books)
Various papers and essays collected in hand-outs available online (moodle) and at the library. Below the detail:
INTRODUCTORY - FOUNDATIONS:
hand-outs with copy of:
Fabio Petri, "What capital theory can teach us"
Pierangelo Garegnani "Two routes to effective demand"
Antonella Stirati “Unemployment, institutions and the living standard in the classical theory of wages”
Antonella Stirati “Employment theories from Adam Smith to the present: an overview”
PART II PRODUCTIVITY EMPLOYMENT AND GROWTH:
R. Harrod, "An essay on dynamic theory
R. Solow, "A contribution to the theory of Economic growth
Cesaratto, Serrano e Stirati “Technical change, effective demand and employment”
N. Kaldor, On the causes of slow growth in UK
A. Okun “Potential GNP: its measurement and significance”
“Puzzles, paradoxes, and regularities: cyclical and structural productivity in the United States (1950-2005)” di Jeon e Vernengo, da pag. 237 a 243
PART III - READINGS ON: FLEXIBILITY and EMPLOYMENT; CAUSES OF THE CHANGES IN INCOME DISTRIBUTION; CONFLICT OVER INCOME DISTRIBUTION AND ECONOMIC POLICY
The professor will propose readings that will be presented by the students. Intersted students will be given the opportunity to read papers on these themes relating to the Italian Economy.
All the reading for the course will be made available online to the students attending the course
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9
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SECS-P/01
|
60
|
-
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-
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-
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Elective activities
|
ITA |
21801595 -
PUBLIC ECONOMICS
-
Derived from
21201492 ECONOMIA PUBBLICA in Economia dell'ambiente, lavoro e sviluppo sostenibile LM-56 LIBERATI PAOLO
( syllabus)
The course will focus on the fundamental problems of public economics in their domestic and European dimension. In particular, the following will be studied:
1. Public expenditure for the welfare state, with reference to the following topics: pension systems; healthcare; instruction; assistance; anti-poverty programmes;
2. Public intervention in public utility services of an industrial nature and market regulation mechanisms;
3. Fiscal policy in the Economic and Monetary Union
4. The decentralization of taxes and spending powers
( reference books)
1. Bosi P. (2023), Corso di scienza delle finanze, ninth edition, Il Mulino, Bologna. Capitoli I, IV, V, VI, VII, VIII
2. For attending students, additional material may be distributed by the teacher during the lessons
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9
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SECS-P/03
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60
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-
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-
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-
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Elective activities
|
ITA |
|
21210459 -
Applied Economic Policy Laboratory
(objectives)
Acquisition of methodological and technical knowledge and development of professional skills in applied economics and economic policy, through an educational program that alternates lectures, practical classes and thematic seminars with external experts; practical classes introduce to the statistical and information sources for applied economic and economic policy analysis and train for data elaborations and reporting activities; seminars are addressed, year by year, to relevant topics for the Italian economy and allow to get in touch with applied professional economists working in the private sector and in public institutions; at the end of the training process students are required to draft a research report and to discuss it during the final examination.
-
CAUSI MARCO
( syllabus)
This program regards both didactic modules (30 hours each, for a total of 60 hours).
The approach of the Laboratory is applied and inter-disciplinary. The learning objectives are focused on the development of professional capacities in applied economics and economic policy, with a planning that alternates lectures, practical classes and seminars with external experts.
Students will acquire skills in the subsequent fields of applied economics:
a) definition and interpretation of the main macroeconomic indicators; analysis of statistical sources and institutional reporting about the Italian and European Union economies.
b) territorial and sectoral analysis.
c) tools and methods for economic policies and planning, and application to public choices.
In each edition there will be a particular monographic in-depth analysis on some of the following topics: the productive structure of the Italian economy and different interpretations of its points of strength and of weakness; European economic governance and national cycle of budget decision; territorial analysis of the Italian economy; services of general economic interest and public utilities: markets and regulation, with specific analysis for public transport, energy production, production and distribution of electric and gas power, water and waste disposal services; banking and insurance industries; industrial policies; etc.
An integrant part of the course, that constitutes element for final evaluation, is the drafting, by each student, of a research report (a written report or an exercise in applied economics or other types of monograph study chosen with the agreement of professors).
The particular structure of the Laboratory requires the compulsory attendance to seminars and practical classes. Attendance to all lectures is highly advised. The program for students that cannot attend lectures has to be agreed on with the teachers.
( reference books)
The reference material is constituted mainly by reports and data bases of national and international public and research institutions (Istat, Bank of Italy, European Commission, Eurostat, OECD, IMF, etc.) and by reading lists for the thematic seminars.
It will be indicated during the classes and made available for students through the Moodle page of the course.
-
PALUMBO ANTONELLA
( syllabus)
The approach of the Laboratory is applied and inter-disciplinary. The learning objectives are focused on the development of professional capacities in applied economics, with a planning that alternates lectures, practical classes and seminars with external experts.
Students will acquire skills in the subsequent fields of applied economics:
a) definition and interpretation of the main macroeconomic indicators; analysis of statistical sources and institutional reporting about the Italian and European Union economies;
b) territorial and sectoral analysis;
c) tools and methods for economic policies and planning, and application to public choices.
In each edition there will be a particular monographic in-depth analysis on some of the following topics: the productive structure of the Italian economy and different interpretations of its points of strength and of weakness; European economic governance and national cycle of budget decision; territorial analysis of the Italian economy; services of general economic interest and public utilities: markets and regulation, with specific analysis for public transport, energy production, production and distribution of electric and gas power, water and waste disposal services; tourism and cultural tourism.
An integrant part of the course, that constitutes element for final evaluation, is the drafting, by each student, of a research report (a written report or an exercise in applied economics or other types of monograph study chosen with the agreement of professors).
The particular structure of the Laboratory requires the compulsory attendance to seminars and practical classes. Attendance to all lectures is highly advised. The programme for students that cannot attend lectures has to be agreed on with the teachers.
( reference books)
The reference material is constituted mainly by reports and data bases of national and international public and research institutions (Istat, Bank of Italy, European Commission, Eurostat, OECD, IMF, etc.) and by reading lists for the thematic seminars.
It will be indicated during the classes and made available to students on the website of the course.
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9
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SECS-P/02
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60
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-
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-
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-
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Elective activities
|
ITA |
|
21210082 -
INDUSTRIAL ECONOMICS - ADVANCED COURSE
(objectives)
Knowledge and understanding
The objective of this course is to provide students from an economic perspective with an in-depth knowledge of the functioning and regulation of markets in order to stimulate a critical understanding and analysis of both the policy implications for public authorities and the strategic behaviors implemented from businesses.
Ability to apply knowledge and understanding
The course will allow students to acquire knowledge and skills to analyze the functioning of markets in the economic context.
Judgment autonomy
The understanding of the functioning of markets that are not perfectly competitive and of the decision-making processes of the various economic actors will allow students to critically analyze the economic reality, the intervention of policy makers from both a regulatory and antitrust point of view, the strategic behavior of companies and their interaction.
Communication skills
The structure of the course and the assessment methods are aimed at allowing students to acquire and apply the different languages of the discipline (descriptive, graphic and analytical), necessary to appropriately address the microeconomic issues involved in a comparison both with experts in the field and with non-specialist subjects.
Learning ability
Students will grapple with the relevant issues through a study of both theory and practical cases in order to acquire the appropriate analysis methodologies to allow an autonomous analysis.
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21210413 -
History of economic ideas and facts
(objectives)
This course aims to provide a basic understanding of the principle features of the transformational processes within international economics from the first industrial revolution to modern times, with particular attention for the Italian economy between the post-Second World War and contemporary periods.
At the end of the course, students must:
- possess a basic understanding of the chronology and nature of the development of European industrialized economies as well as that of their principle non-European counterparts from the end of the eighteenth century to the twentieth;
- be able to describe the historical and comparative contexts of the principle contemporary economic systems;
- be able to present the knowledge they have acquired using the correct terminology and concepts pertaining to the Economic history.
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21210169 -
INTERNATIONAL BUSINESS MANAGEMENT
(objectives)
The 'Management of international companies' course explores the logic and criticisms related to the International Business of companies operating in today's globalized contexts. After a brief introduction on the macroeconomic dynamics that impact international markets, the course focuses on the analysis of the progressive loss by companies, especially the larger ones, of their national identity and the search for continuous maximization of the opportunities created by the market global.
Companies, today more than ever, have greater ease of relocating the activities of the value chain in different parts of the world; this entails a greater aptitude for seizing new opportunities for value creation, but also greater attention to issues of governance and management of intercultural barriers. Therefore, after having explained the reasons that drive the internationalization process, the course sets itself the objective of: illustrating the problems that arise at the various stages of international development; identifies the key variables that condition it and, last but not least, identifies the various methods and tools through which the internationalization process unfolds. At the end of the course students will be able to:
1) Knowing and interpreting the logic and actions of the actors in the international context;
2) Know and discuss the basic elements inherent in the international development process;
3) Know and apply the basic tools for analyzing the country's attractiveness to support managerial decisions;
4) Analyze the competitiveness of the sector and select solutions for the approach to international markets in terms of strategies, methods and penetration of the markets themselves.
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9
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SECS-P/08
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60
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-
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-
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Elective activities
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ITA |
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21201722 -
RISK MANAGEMENT IN BANKING
(objectives)
The course aims at analysing the problems connected with both the financial and the non-financial management of banks. Namely, this analysis is carried out along the following streams:
The role and peculiarities of risk management in financial institutions.
The objectives, applications and technical features of risk measurement and management models: interest rate risk, market risk, liquidity risk, credit risk and operational risk.
Capital regulation: recent evolution and problems posed by the recent financial crisis.
Capital management and the process of value creation in financial institutions.
Supervisory policies on financial and insurance institutions, with a focus on internal controls and organizational and capital adequacy.
By the end of this course you should be able to:
Evaluate the impact of the main strategies on the shareholder value creation of modern global banks
Be aware of the main banking risk measurement techniques
Critically evaluate the application of the main risk management techniques in banking
Understand the main capital allocation methods within modern banks
Comprehend why banks need regulation and distinguish between the different types of regulation.
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Derived from
21201722 RISK MANAGEMENT IN BANKING in Finanza e impresa LM-16 FIORDELISI FRANCO
( syllabus)
1: Introduction. The role and peculiarities of risk management in financial institutions. Risk management failure during the financial crisis.
2: Interest rate risk: the repricing gap model
3: Interest rate risk: the duration gap model and clumping
4: Interest rate risk: internal transfer rates (ITR)
5: Liquidity risk: funding and market risks, short and medium term control models, new liquidity requirements
6: Market risk: Value at Risk models: parametric approach. Estimating volatilities and correlations.
7: Market risk: mapping risk positions in the parametric approaches
8: Market risk: simulation approaches
9: Market risk: backtesting VaR models, VAR Limits and Expected Shortfall
10: Credit risk management. Scoring models for estimating the probability of default
11: Credit risk management. Market-based models for estimating the probability of default
12: Credit risk management. The recovery risk
13. Credit risk management: Portfolio models
14. Credit risk management: Internal rating system management and application (pricing and risk-adjusted performance measures)
15. Operational risk
16. Banking regulation: from Basel I to Basel III
17. Rethinking banking regulation: Basel 4?
( reference books)
1. Main text book
• Joel Bessis, Risk Management in Banking, 4th Edition, John Wiley, 2015 (B)
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9
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SECS-P/11
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60
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Elective activities
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ITA |
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Università Roma Tre