- "Monetary Theory and Policy", Carl E. Walsh, The MIT Press, 2010 [ch. 8];
- original papers;
- lecture slides.
Students will gain the ability to read research articles, to critically assess the role of the State in the economy, and to openly discuss ideas for future research.
Knowledge of microeconomics, macroeconomics and calculus at an undergraduate level.
Attendance is not compulsory, but highly recommended.
Type of Assessment
1. Presentation: 20-minute presentation of a published paper (of your choice, approved by me) related to the content of the course;
2. Oral question: one question of my choice over the program;
--> Grading: average between grades in presentation and oral question.
1. New Keynesian DSGE model;
2. Causes of wage stickiness;
2A. Implicit/explicit labor contracts;
2B. Efficiency wages;
2C Equilibrium unemployment theory;
2D. Social networks and labor-market outcomes;
3. Causes of price stickiness;
3A. Menu costs;
3B Rational inattention;
4. Coordination failure;
5. Communication policy;
5A. Value of public information;
5B. Time inconsistency;
6. Social networks;
6A. Labor-market outcomes;
6B. DeGroot model.