Corso di studio in Finanza Aziendale e Mercati Finanziari

Basic microeconomics, macroeconomics, statistics and mathematics.

A first objective is to offer a relatively in-depth overview, while limiting formalisation to graphical analysis, of the main macroeconomic theories, and their microeconomic foundations, starting with the more traditional aspects and touching on more recent developments. Particular emphasis will be placed on the role and effectiveness of government intervention in the economy.

A second objective is to introduce the professional use of macroeconomic data and their interpretation to develop judgements and scenarios.

Knowledge at a more advanced level than in the first Macroeconomics course of the main macroeconomic theories.

Ability to find and use data to develop judgements and scenarios. Interpretation of empirical estimates.

9   HOURS OF PREREGISTERED VIDEO LESSONS

24 HOURS OF FACE-TO-FACE LECTURES

Written exam. Duration:  45’.

The format allows to assess the achievement of the desired goals.

In particular, the test consists of 20 questions with multiple-choice answers, or requiring the input of a numerical result; part of the questions, or even all of them, may require the solution of exercises, graphical and analytical analysis, combined with economic intuition; 3 questions will be focused on the empirical part of the course.

Each incorrect answer will result, in addition to the loss of the score for the question, in a penalty of -0.5 points; no penalties are assigned for missing answers.

Registration via the ESSE3 system is required.

The exam will be in presence, those who, on the basis of the rules of the University, are exempted from carrying out in presence as a result of the health emergency, may request, presenting the required documentation, to take the exam from their own locations: in this case the exam will no more be a written test, but an oral exam on Webex platform.

The examination will take place via Moodle, so you will need to bring your own electronic device to the classroom. This device must meet the following requirements.

1) The device must guarantee access to the Moodle page of this course.

2) The device must have sufficient charge for at least 1 hour.

3) The device must have a working battery as it will not be possible to guarantee access to electrical sockets for everyone.

4) The device must be able to connect to the University's Wi-Fi network.

5) The device must allow to type letters and numbers.

FOR THOSE WHO DO NOT HAVE A PERSONAL DEVICE (case a) OR WHO ON THE DAY OF THE EXAMINATION HAVE UNEXPECTED Malfunctions (case b), it will be possible to have a seat in the computer room or to take a paper examination (depending on the number of requests). This possibility in case a is reserved ONLY for those with valid reasons and it will be necessary to send a request to the lecturer by email.

For the exam you will also need:

1) a NON-PROGRAMMED calculator (i.e. one that performs simple mathematical calculations and does not have pre-set formulas), the use of a mobile phone or PC calculator is also not permitted and no exceptions are allowed;

2) a pen to perform any calculations.

No other material may be used and in addition the electronic device will be used ONLY to answer the questions (i.e. no PC calculator or R). Surveillance will be tight and the consequences for those who do not respect the rules will be very serious.

INTRODUCTION, DIFFERENCES BETWEEN MICROECONOMICS AND MACROECONOMICS, MODELS, DATA

SMALL REVIEW OF DEFINITIONS AND QUANTITIES

- AGGREGATE QUANTITIES

- NATIONAL ACCOUNTING

- INTERNATIONAL ACCOUNTING AND FOREIGN DEBT

- INDICES, AVERAGE VARIATIONS, PRICES, EXCHANGE RATES

- BANKS, MONEY AND THE CREDIT MARKET

ELEMENTS OF ADVANCED MACROECONOMICS

- CLOSED ECONOMY ANALYSIS OF MONETARY AND FISCAL POLICIES

- NOMINAL AND REAL RIGIDITIES AND EMPLOYMENT THEORIES

- FOREIGN TRADE AND EXCHANGE RATES

- OPEN ECONOMY ANALYSIS OF MONETARY AND FISCAL POLICIES

- THE ROLE OF EXPECTATIONS: RATIONAL EXPECTATIONS AND ECONOMIC POLICY

- CONSUMPTION AND SAVING

- ECONOMIC GROWTH

APPLICATIONS:

- Part 1 (examination topic). Introduction to macroeconometrics and inferential statistics: Lucas critique, Tinbergen's theorem, regression, hypothesis testing, time series and stylized facts of financial time series.

- Part 2 (examination topic). Macroeconomic and financial applications.

- Part 3 (if time remains, NO exam). Programming hints on R: basic operations; mathematical-logical operations; vectors; matrices, arrays and data frames; data import/export; data visualization and data cleaning.