Economic Policy 2017/2018
- 5 ECTS
- Taught in Portuguese
- Continuous Assessment
- relevant skillset
At the end of this unit, students should be able to:
1. identify the main instruments of economic policy;
2. understand economic policymaking process;
3. understand the differences and complementarities in economic and political modes of analysis;
4. understand and use the main concepts of economic policy theory;
5. understand and use the economic policy models;
6. develop a critical understanding of debates about the impacts of policies and policies on economic performance.
Microeconomics, Macroeconomics, Monetary and Financial Economics, and Economic Growth
Theoretical and practical.
The theoretical classes are characterized by the oral presentation of the course contents with power-points support, in which students participation is encouraged. For further development of contents, students should read several chapters of seminal books.
The practical classes are intended to apply the theoretical contents.
Body of Work
1. Main Concepts of Economic Policy
2. Fiscal Policy
3. Tax Policy
4. Monetary Policy
5. Foreign-Exchange Policies
6. Growth Policies
Bénassy-Quéré, Agnès, Coeuré, Benoît, Jacquet, Pierre and Pisani-Ferry, Jean (2010), Economic Policy: Theory and Practice, Oxford University Press.
Alesina, Alberto, and Guido Tabellini. (2007). “Bureaucrats or Politicians? Part I: A Single Policy Task.” American Economic Review 97: 169-179;
Akerlof , George (1970), The Market for "Lemons": Quality Uncertainty and the Market Mechanism, The Quarterly Journal of Economics, Vol. 84,
No. 3 (Aug., 1970), pp. 488-500;
Clarida, R, J. Gali, and M. Gertler (1999), "The Science of Monetary Policy: A New Keynesian Perspective", Journal of Economic Literature, 37. pp. 1661-707.
Persson, T. (1998), "Economic Policy and special interest politics", The Economic Journal, 108, pp. 310-27.
Sutherland, A. (1997), "Fiscal crises and aggregate demand: can high public debt reverse the effects of fiscal policy?", JPE, 65. pp. 147-62.
Rogoff, K. (1985), "The optimal degree os Commitment to an Intermediate Monetary Target", Quarterly Journal of Economics, 100. pp. 45-78.
Solow, R. (1956), "A Contribution to the Theory of Economic Growth"
Week 1 - 3: Chapter 1
Week 4 - 6: Chapter 2
Week 7 - 8: Chapter 3
Week 9 - 11: Chapter 4
Week 12 - 13: Chapter 5
Week 14 - 15: Chapter 6
Week 16 - Final Test
Demonstration of the syllabus coherence with the curricular unit's objectives
The program contents were designed in order to allow students to acquire basic and up-to-date knowledge in the field of economic policy.
Learning outcome 1 - all chapters
Learning outcome 2 - chapter 1
Learning outcome 3 - chapter 1
Learning outcome 4 - all chapters
Learning outcome 5 - chapters 2-4
Learning outcome 6 - chapters 2-4
Demonstration of the teaching methodologies coherence with the curricular unit's objectives
The theoretical component of lectures allows students to contextualize economic policy as an advanced field on economic theory. The practical component of lectures allows students to interpret some economic indicators and understand their implications. The evaluation system of the course intends to promote the analysis and discussion of economic issues in the classroom and to enhance argument capacities of students.
|relevant generic skill||improved?||assessed?|
|Achieving practical application of theoretical knowledge||Yes||Yes|
|Adapting to new situations||Yes||Yes|
|Analytical and synthetic skills||Yes||Yes|
|Commitment to effectiveness||Yes||Yes|
|Commitment to quality||Yes||Yes|
|Ethical and responsible behaviour||Yes||Yes|
|Event organization, planning and management||Yes||Yes|
|Problem Analysis and Assessment||Yes||Yes|
|Written and verbal communications skills||Yes||Yes|