The course provides an introduction to monetary theory, the effects of monetary variables on the macroeconomic system, the role of the Central Bank and the conduct of monetary policy. Emphasis is on the European Union and European Centrak Bank, conventional and unconventional monetary policy by the ECB, with a special reference to the recent Covid-19 pandemic.

I. The nature and functions of money.

II. The theories of supply and demand of money.

III. Theory and practice of monetary policy of BCE.

IV. The origins and management of economic crisis.

V. Digital innovations.

Knowledge related to Microeconomics and Macroeconomics is central to understanding the discipline.

Knowledge and understanding: the student, at the end of the course, will know the functioning of the money market of modern economies.

Applying knowledge and understanding: the student will be able to understand and analyze the evolution of modern monetary systems and monetary policies implemented in the EU and in the USA.

Making judgments: the student will have developed a critical capacity to assess the quality of the suggested solutions and policies of central banks.

Communication skills: the student will learn to communicate the results of the analyses conducted with the help of summary reports and graphs.

Learning abilities: the student will be able to apply the knowledge acquired in previous courses by integrating it with the additional professionalizing skills that characterize the course.

The teaching material prepared by the lecturer in addition to recommended textbooks (such as for instance slides, lecture notes, exercises, bibliography) and communications from the lecturer specific to the course can be found inside the Moodle platform › blended.uniurb.it

The reference manual will be supplemented by slides and articles published in scholarly journals that elaborate on the analyses carried out. 

The teaching materials made available by the lecturer can be found, along with other supporting activities, within the Moodle platform'  › blended.uniurb.it

Seminars on specific topics will be organized.

Teaching

The course consists of lectures and seminars for a total of 48 hours of lessons. Students may edit and discuss original essays on relevant topics.

Attendance

It is highly recommended to attend regularly the course.

Course books

Pietro Alessandrini (2021), "Economia e politica della moneta", Terza Edizione, il Mulino. Chapters from 1 to 11, and from 15 to 18.

Riccardo De Bonis e Maria Iride Vangelisti (2019), "Moneta. Dai buoi di Omero ai bitcoin", il Mulino Upm. Capitoli IV, VI, VIII.

Erasmus students can request to sit the final exam in English with an alternative bibliography to be defined with the professor.

Assessment

The examination is based on a 75-minutes compulsory written test with 5 open questions.

The open questions aim to ascertain the student's ability to master the concepts covered during the course and to be able to expose their arguments in a clear and limited time, using a rigorous and punctual formal and graphic analysis.

The evaluation criteria are: the level of mastery of theoretical knowledge, the graphical and mathematical tools used, the degree of articulation of the answer, the degree of adequacy of the explanation, and the degree of accuracy of the graphic and formal analysis.

Based on these criteria, each question is awarded up to a maximum of 6 points. The exam is considered passed if the final score achieved is 18 or above. The proposed assessment may:

- be rejected by the student. In this case, the exam must be retaken (option possible only one time);

- accepted by the student;

- accepted with the addition of an oral test (which may increase or decrease the written assessment).

During the written test, students are notified of the time when the results will be announced and, if necessary, take a supplementary oral test.

The final grade will also take into account the overall organicity of the test, and any interactions or papers that students produce during the course.

Disability and Specific Learning Disorders (SLD)

Students who have registered their disability certification or SLD certification with the Inclusion and Right to Study Office can request to use conceptual maps (for keywords) during exams.

To this end, it is necessary to send the maps, two weeks before the exam date, to the course instructor, who will verify their compliance with the university guidelines and may request modifications.

Teaching

Same program of the attending students.

Attendance

Same program of the attending students.

Course books

Same program of the attending students.

Assessment

Same program of the attending students.

Disability and Specific Learning Disorders (SLD)

Students who have registered their disability certification or SLD certification with the Inclusion and Right to Study Office can request to use conceptual maps (for keywords) during exams.

To this end, it is necessary to send the maps, two weeks before the exam date, to the course instructor, who will verify their compliance with the university guidelines and may request modifications.

Erasmus students can request to sit the final exam in English with an alternative bibliography to be defined with the professor.