CourseECONOMICS
Code676PP
Credits3
PeriodSemester 1
LanguageEnglish
| Modules | Area | Type | Hours | Teacher(s) | |
| READING GROUP IN ECONOMICS | SECS-P/01 | LEZIONI | 21 |
|
By the end of the course, students will have acquired knowledge on selected topics in contemporary Macroeconomics. Specifically, the course discusses and presents contents on:
1. Inflation
2. Hysteresis
Continuos monitoring of knowledge acquisition by means of in class presentations done by each student, and focus gruops held during the course.
Final assessment at the end of the course.
Reading and comprehension of scientific articles.
Systematization of the literature of reference of a given topic.
Construction of content models in order to parallelize the literature.
Preparation of in-class presentations.
Communication skills
Writing of essays
Accuracy in presenting results
Coherence of the analytical exposition
Originality of the contents
Advanced macroeconomics
Time series econometrics, Advanced Statistics
In class lectures
Student presentations of the topics
Objective and Structure
The course is meant to address topics and academic debates that are of timely interest for either academic or policy implications.
The course has a dynamic and interactive structure, detailed below:
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The instructor will present the topic of study: theoretical and historical context and/or theoretical and empirical framework
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The instructor will present the papers of reference addressing the topic from different perspectives
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The class will follow-up with individual/group presentations done during the lectures (depending on the number of attending students). Student presentations will be structured according to a format provided in class and constitute part of the course in itself.
Topics
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Inflation
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demand and supply origins of inflation;
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historical episodes and policy for inflation;
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the current inflation: causes, consequences and policies
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Hysteresis
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definition of hysteresis;
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approaches and realms of applications;
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hysteresis during crises
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List of Readings (a selection of them will be discussed and presented in class):
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Inflation
1. Domash, A., & Summers, L. H. (2022). How tight are US labor markets? (No. w29739). National Bureau of Economic Research.
2. Stiglitz, Joseph E., and Ira Regmi. "The causes of and responses to today’s inflation." Industrial and Corporate Change 32.2 (2023): 336-385.
3. Weber, I. M., & Wasner, E. (2023). Sellers’ inflation, profits and conflict: why can large firms hike prices in an emergency?. Review of Keynesian Economics, 11(2), 183-213.
4. Ferguson, Thomas, and Servaas Storm. "Myth and Reality in the Great Inflation Debate: Supply Shocks and Wealth Effects in a Multipolar World Economy." Institute for New Economic Thinking Working Paper Series 196 (2023).
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Hysteresis
1. Blanchard, O. J., & Summers, L. H. (1986). Hysteresis and the European unemployment problem. NBER macroeconomics annual, 1, 15-78.
2. Ball, L. (2014). Long-term damage from the Great Recession in OECD countries. European Journal of Economics and Economic Policies: Intervention, 11(2), 149-160.
3. Lavoie, M. (2018). Rethinking macroeconomic theory before the next crisis. Review of Keynesian Economics, 6(1), 1-21.
4. Piscitelli, L., Cross, R., Grinfeld, M., & Lamba, H. (2000). A test for strong hysteresis. Computational Economics, 15, 59-78.
5. Cerra, V., Fatás, A., & Saxena, S. C. (2023). Hysteresis and business cycles. Journal of Economic Literature, 61(1), 181-225.
Monthly in class presentations, which contribute to the final assessment.
A final written essay on a selected topic of interest.