ECONOMIA PER LA FINANZA
There are no formal prerequisites, but it is assumed that students have already acquired the knowledge typically covered in undergraduate courses in microeconomics, macroeconomics, and economic history.
The final exam is written and includes both multiple-choice and open-ended questions.
No midterm exams are scheduled.
Module 1 – Monetary Policy and Macroeconomic Scenarios
The main objectives of this module are to provide the knowledge necessary to understand:
(I) the functioning of the payment system;
(II) the implementation of monetary policies;
(III) the development of the financial system from a macroeconomic perspective;
(IV) the macroeconomic representation of the interactions between the financial and monetary system and the real economy.
Module 2 – Evolution of the Financial System and Behavioral Economics
In the first part of this module, the objective is to provide the tools and knowledge necessary to understand the rationale behind financial decisions and to better grasp market dynamics.
In the second part, the objective is to offer the knowledge needed to understand the evolving interactions between the State, markets, and private actors within the financial system, providing a long-term perspective on the relationship between finance and development.
Module 1 – Monetary Policy and Macroeconomic Scenarios
The payment system
Monetary aggregates and money creation
Monetary policy and interest rates
Implementation of monetary policy
Unconventional monetary policies
Digital currencies, central bank digital currencies (CBDCs), and stablecoins
Securitization and the transition from a banking system based on “originate to hold” to “originate to distribute”
Introduction to Stock-Flow Consistent models: flow of funds and social accounting
Module 2 – Evolution of the Financial System and Behavioral Economics
First Part:
Foundations of behavioral economics
Theoretical foundations of behavioral finance
Prospect theory
Loss aversion and reference points
Probability weighting
Expected value vs. expected utility
Behavioral biases
Second Part:
Introduction to the history of finance
The origins of banking and the issue of usury
Financing of British industrialization
The second industrial revolution and the emergence of modern financial systems
Financial regulation and deregulation in the 20th century
Recent financial crises in the context of globalization and deglobalization
The lecturers meet with students via Microsoft Teams.
To schedule an appointment, please contact the instructor by email.