The course analyses the functioning and equilibrium of foreign exchange markets. We examine, on both theoretical and empirical grounds, the determination of the exchange rate, the international transmission of macroeconomic shocks and policy coordination, the time inconsistency of exchange rate regime; the operation and evolution of the International Monetary System.
Knowledge and understanding abilities
The course aims to offer the basic notions and principles of the monetary theory, taking into account also the main advances in this area. In particular, the course will provide the students with the fundamental knowledge needed to understand and interpret the key phenomena.
Ability to apply knowledge and understanding
The student will be able to discuss, through appropriate arguments, possible proposals and analyses regarding problems and topics of high complexity in the area of monetary economics, in relation, for instance, to aspects of efficiency and equity of markets, as well as macroeconomic phenomena such as unemployment, inflation and the determinants of economic growth.
Independent evaluation
At the end of the course, the student will be able to critically interpret the main facts at the center of the national and international debate, also through the gathering of data and information from appropriate and reliable sources.
Communication skills
The student will be able to communicate to alternative audiences, in an effective way and with the appropriate terminology, his/her own evaluations about the main topics.
Learning abilities
The student will have strengthened his/her own ability to proceed to independent study of more complex topics, via an appropriate method of study, in particular with reference to macroeconomic and monetary phenomena.