20110502 - Economia monetaria

Monetary Economics (SECS-P / 01) - The course aims to provide a basic knowledge to understand the role of money and the functioning of financial markets in advanced economic systems, providing also the tools for future autonomous learning by students. Particular attention is paid to the analysis of the functions and characteristics of financial intermediaries, of the most popular financial instruments and of the mechanism for forming the prices of financial assets. With reference to the Dublin descriptors, particualr attention will be devoted to developing in the students autonomy of judgment with respect to the current debate. As part of the general objectives of the degree program, the course allows students to acquire an autonomous ability to analyze and recognize the mechanisms that guide the evolution of the financial system in which companies operate, and the ability to transfer the results of personal analysis to the group of people with whom they will interact in their work.

teacher profile | teaching materials


The functioning of financial system
The determinants of returns on financial assets
Money and central banks:
• the functions of money
• the demand and supply of money
• monetary policy and the impact on the real economy
• the objectives of monetary policy
• monetary policy strategies
• monetary policy after the great financial crisis
• digital currencies
• monetary policy in practice

Core Documentation

There is no single text that covers all the topics of the course.
The following texts are useful references:
Frederic S. Mishkin, Stanley G. Eakins, Giancarlo Forestieri, Financial Institutions and Markets 8/Ed, Pearson.
Mishkin, Frederic S., Monetary Policy Strategy, MIT Press 2007 (available in English only).
The lecture slides, which are insufficient for exam preparation, are available on Moodle.

Type of delivery of the course

Class lectures


Attendance is strongly recommended

Type of evaluation

The exam consists of: - a compulsory written test, divided into 10-12 multiple choice questions and 2 open-ended questions - an optional oral test All students are allowed to take the optional oral test, even if they have received an insufficient assessment in the written test, if they take the test in the same exam session as the written test. Students who have obtained a sufficient assessment in the written exam can also take the oral test in another session of the same exam session.