First cycle
degree courses
Second cycle
degree courses
Single cycle
degree courses
School of Economics and Political Science
Course unit
ECO2045256, A.A. 2017/18

Information concerning the students who enrolled in A.Y. 2016/17

Information on the course unit
Degree course Second cycle degree in
EP1981, Degree course structure A.Y. 2013/14, A.Y. 2017/18
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Number of ECTS credits allocated 10.0
Type of assessment Mark
Course unit English denomination INTERNATIONAL ECONOMICS AND FINANCE
Website of the academic structure
Department of reference Department of Economics and Management
E-Learning website
Mandatory attendance No
Language of instruction English
Single Course unit The Course unit CANNOT be attended under the option Single Course unit attendance
Optional Course unit The Course unit can be chosen as Optional Course unit

Teacher in charge LUCA NUNZIATA SECS-P/01

Course unit code Course unit name Teacher in charge Degree course code

ECTS: details
Type Scientific-Disciplinary Sector Credits allocated
Core courses SECS-P/01 Political Economy 10.0

Course unit organization
Period Second semester
Year 2nd Year
Teaching method frontal

Type of hours Credits Teaching
Hours of
Individual study
Lecture 10.0 70 180.0 No turn

Start of activities 26/02/2018
End of activities 01/06/2018
Show course schedule 2017/18 Reg.2013 course timetable

Examination board
Board From To Members of the board
4 Commissione AA 2017/18 01/10/2017 30/09/2018 NUNZIATA LUCA (Presidente)
FORNI LORENZO (Membro Effettivo)
ROCCO LORENZO (Membro Effettivo)

Prerequisites: Students are required to know the fundamentals of micro and macroeconomics.
Target skills and knowledge: The course intends to transmit the ability to understand contemporaneous international economic phenomena, with a particular focus on the interaction between finance, economic policy and real markets. At the end of the course, students will be able to interpret relevant economic data and to use them in order to analyse and forecast future economic scenarios.
Examination methods: The exam is written and typically lasts between 1 hour and 1 hour and 30 minutes.
Assessment criteria: The exam evaluation is based on the knowledge acquired during the course and on the ability to use that knowledge to think in economic terms and to interpret contemporaneous economic scenarios.
Course unit contents: First Part (Nunziata):

1. Introduction to International Economics and Finance: Issues of Interest

2. Balance of Payments Accounting

3. Asset Models of Exchange Rates

Visser H. (2004) A guide to international monetary economics (3ed., Elgar), Chapter 1.

4. Mundell-Fleming Model: IS/LM for an Open Economy

Visser H. (2004) A guide to international monetary economics (3ed., Elgar), Chapter 2.

5. Basic Guide to Empirical Estimation

6. The European Central Bank as a lender of last resort

De Grauwe, Paul (2011). “The European Central Bank as a lender of last resort”,

7. Income Inequality

Piketty, Thiomas and Saez Emmanuel "Income Inequality in the United States, 1913-1998", Quarterly Journal of Economics, 118(1), 2003, 1-39.

8. Long Run and Institutions

Acemoglu D. (2007) Political Economy of Growth.

9. Italy in the Global Economy

Seconda parte (Caggiano):

Topic 1: Why countries grow at different rates? A model (very) long run

Topic 2: Why some economies collapse? A model of sustainable development -
Easter Island economics

Topic 3: Why some countries experience hyperinflation? Cagan's model of

Topic 4: Why some countries experience deflation and prolonged recessions?
A microfounded model of liquidity traps and unconventional monetary policy

Topic 5: Why uncertainty matters for business cycle fluctuations? A model
of the real effects of uncertainty shocks
Planned learning activities and teaching methods: The course is based on lectures held by the Professor and readings of articles on the current international economic situation published by economic reviews and newspapers during the course and distributed on the course’s Twitter account.
Additional notes about suggested reading: Relevant bibliographic references vary every year and will be indicated during the lectures. The lectures’ slides and list of references will be available on the course’s web site.
Textbooks (and optional supplementary readings)