Theory of Money (3 credits - Prof. Guidi)
A] This module aims at introducing students to the main issues about money and monetary policy. First, the main functions of money are discussed: money as a medium of exchange, money as a store of value, the optimal quantity of money. Then, monetary policy issues are taken into consideration, with a specific concern for the euro area.
- “Foundations of Modern Macroeconomics”, Ben J. Heijdra, Oxford University Press, 2009 [ch. 11]
- “Macroeconomic Theory: A Dynamic General Equilibrium Approach”, Michael Wickens, 2012 [ch. 8,13]
Topics in Macroeconomics (6 credits - Prof. Boncinelli)
- a basic new Keynesian DSGE model;
- some reasons for price/wage stickiness: implicit/explicit labor contracts, efficiency wages, menu costs, rational inattention;
- coordination failures;
- communication policy: social value of public information, time inconsistency;
- equilibrium unemployment theory.
- "Monetary Theory and Policy", Carl E. Walsh, The MIT Press, 2010 [ch.1, 8];
- papers and lecture slides.