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.
teacher profile teaching materials
Review of key economic indicators: real and nominal GDP and other national accounts aggregates, deflators, rates of change, index numbers, labor market indicators, productivity, foreign trade, and key monetary and fiscal policy variables. Major national and European statistical sources. Annual and quarterly data. Cyclical and trend changes. Contributions to growth.
Reading and interpreting ISTAT press releases
(exercise) Simple representation of time series and intertemporal comparisons. Use of the AMECO database.
B – Analysis of inflation data
Inflation and price indices. Construction of baskets, survey techniques, and key indicators. Analysis of inflation in Italy and Europe. Sources: ISTAT, Bank of Italy, ECB
(exercise) Components of inflation and contributions to changes in aggregates. Use of ISTAT databases.
C – Monetary Policy and Financial Markets
Structure and functions of the ECB. Objectives and instruments of monetary policy. Analysis of monetary policy decisions through press releases, bulletins, and other official documentation.
Monetary policy and inflation. Transmission channels of monetary policy. Structure of the credit market and the cost of credit to businesses in various European countries. Analysis of unconventional policies
(seminars with external experts) Financial markets, the banking and insurance sectors: key economic and regulatory characteristics. The role of financial intermediaries in the transmission of monetary policy
(exercise) Representation of an economic phenomenon and its variability. Cross-country and time-series comparisons. Use of the ECB database
D – Analysis of Specific Markets and Public Utilities
Market structures and characteristics of specific markets. Network economies, natural monopolies, economies of scale, information asymmetries, and regulatory issues. Public utilities and their governance
(seminars with external experts) The electricity market: structure, functioning, price formation, and key regulatory issues. The natural gas market: market structure, price formation, and links to the electricity market.
(seminars with external experts) Fundamentals of analysis of the commodity market
E – Fiscal Policy
Fiscal policies in practice. Analysis of public finance documents. Key fiscal indicators, European fiscal rules, and the European Semester.
Potential GDP and fiscal policy. The role of output gap and potential output estimates in the application of European fiscal rules before and after the 2024 reform.
(seminars with external experts) Dialogue between national and European institutions
F – Production Structure, International Trade, and Protectionist Policies
Long-term trends in the Italian economy. Productivity, domestic demand, production specialization, and major transformations in the Italian economy.
Production structure, specialization, and trade flows. Balance of payments, exchange rates, and international trade. Analysis of the effects of protectionist policies and tariffs on the Italian and European economies.
G – Learning to Write and Present
Writing about the Italian economy. Structure of a brief economic report, selection of sources and data, use of tables and graphs, and methods for preparing documents and presentations.
Reporting exercise: preparation, presentation, and discussion of brief analyses by students.
Materials will be indicated during the classes and made available to students on the moodle website
Mutuazione: 21210459 Laboratorio di politica economica applicata in Scienze Economiche LM-56 R PALUMBO ANTONELLA, MONNI SALVATORE
Programme
A – Macroeconomic Indicators, National Accounts, and the Structure of the Italian EconomyReview of key economic indicators: real and nominal GDP and other national accounts aggregates, deflators, rates of change, index numbers, labor market indicators, productivity, foreign trade, and key monetary and fiscal policy variables. Major national and European statistical sources. Annual and quarterly data. Cyclical and trend changes. Contributions to growth.
Reading and interpreting ISTAT press releases
(exercise) Simple representation of time series and intertemporal comparisons. Use of the AMECO database.
B – Analysis of inflation data
Inflation and price indices. Construction of baskets, survey techniques, and key indicators. Analysis of inflation in Italy and Europe. Sources: ISTAT, Bank of Italy, ECB
(exercise) Components of inflation and contributions to changes in aggregates. Use of ISTAT databases.
C – Monetary Policy and Financial Markets
Structure and functions of the ECB. Objectives and instruments of monetary policy. Analysis of monetary policy decisions through press releases, bulletins, and other official documentation.
Monetary policy and inflation. Transmission channels of monetary policy. Structure of the credit market and the cost of credit to businesses in various European countries. Analysis of unconventional policies
(seminars with external experts) Financial markets, the banking and insurance sectors: key economic and regulatory characteristics. The role of financial intermediaries in the transmission of monetary policy
(exercise) Representation of an economic phenomenon and its variability. Cross-country and time-series comparisons. Use of the ECB database
D – Analysis of Specific Markets and Public Utilities
Market structures and characteristics of specific markets. Network economies, natural monopolies, economies of scale, information asymmetries, and regulatory issues. Public utilities and their governance
(seminars with external experts) The electricity market: structure, functioning, price formation, and key regulatory issues. The natural gas market: market structure, price formation, and links to the electricity market.
(seminars with external experts) Fundamentals of analysis of the commodity market
E – Fiscal Policy
Fiscal policies in practice. Analysis of public finance documents. Key fiscal indicators, European fiscal rules, and the European Semester.
Potential GDP and fiscal policy. The role of output gap and potential output estimates in the application of European fiscal rules before and after the 2024 reform.
(seminars with external experts) Dialogue between national and European institutions
F – Production Structure, International Trade, and Protectionist Policies
Long-term trends in the Italian economy. Productivity, domestic demand, production specialization, and major transformations in the Italian economy.
Production structure, specialization, and trade flows. Balance of payments, exchange rates, and international trade. Analysis of the effects of protectionist policies and tariffs on the Italian and European economies.
G – Learning to Write and Present
Writing about the Italian economy. Structure of a brief economic report, selection of sources and data, use of tables and graphs, and methods for preparing documents and presentations.
Reporting exercise: preparation, presentation, and discussion of brief analyses by students.
Core Documentation
The reference material is constituted mainly by reports and databases of national and international official and research institutions (Istat, ECB, Bank of Italy, European Commission, Eurostat, OECD, IMF, etc.) and by reading lists for the thematic seminars.Materials will be indicated during the classes and made available to students on the moodle website
Attendance
Attendance is compulsory for seminars and practical classes, highly advised for all lectures. Working students and others in need may require online attendanceType of evaluation
Practical test (exercise) to check learning of technical and methodological tools (during the course) Reporting exercise during the course Preparation of a written research report and its oral discussion Oral discussion on course topics teacher profile teaching materials
Mutuazione: 21210459 Laboratorio di politica economica applicata in Scienze Economiche LM-56 R PALUMBO ANTONELLA, MONNI SALVATORE
