ECONOMICS OF INSTITUTIONS

Single discipline educational activity

Course Sheet

Course code:

000N43A

Academic Year of enrolment:

2017

Year of supply:

2019/2020

Degree:

Course of 1st Cycle Degree in ECONOMY, MARKETS AND DEVELOPMENT

Moduls:

ECONOMICS OF INSTITUTIONS - 6 credits
ECONOMICS OF INSTITUTIONS - 3 credits

Location:

Credits:

Programme Year:

Cycle:

First semester

Hours of classroom activity:

120

Prerequisites:

Knowledge of the fundamental concepts of macro-economy; knowledge
of the basic contents of economic history and contemporary history.

Objectives

The course aims to provide the student with a thorough knowledge, both
empirical and with essential theoretical references, about the role of
institutions in fostering economic development: both international
institutions, especially financial, as well as economic and political
institutions, on a national and regional scale.

EXPECTED LEARNING OUTCOMES.
KNOWLEDGE AND UNDERSTANDING. 
At the end of the course, the students will have to know the fundamental concepts of institutional economics, the evolution of institutions in the course of history on a global scale with particular regard to the economic sphere, and in relation to ethics and culture, the role of international institutions for economic growth and the development processes from the nineteenth century to the present, and the importance of institutions and the related ruling classes for long-term Italian economic development and the historical regional imbalances within Italy.
APPLYING KNOWLEDGE AND UNDERSTANDING. 
At the end of the course the students must be able to critically evaluate
the functioning of the various institutions, both national and international,
in order to promote economic development and to place them in
historical perspective; they will also have to be able to reason critically
about the relationship between institutions, culture and development.
COMMUNICATION SKILLS. 
At the end of the course the students will have acquired the following communication skills: knowing how to use the political-institutional and historical-economic language adequately; to know how to discuss properly and rigorously the role of institutions, ruling classes, the cultural dimension, in different international and Italian historical contexts.

Contents

What are the institutions, what is their role, how do they connect with
values and culture and how can they promote development? Basic
elements of economic and institutionalist theory.
Institutions and incentives, ethics and culture: the long-term relationship
in human history.
How international institutions influence development policies: the
monetary system from the nineteenth century to the present.
Institutions and policies: Keynesianism, planned economies, neo-liberal
approach.

The Italian case, institutions in comparison: the liberal age, the years
between the two wars, the economic miracle.
The Italian case, institutions and policies in the South.
Italy's decline, Europe's crisis: institutions today and their role for growth.

Extended Syllabus

The course aims to provide the student with a broad and in-depth
knowledge, both empirical and with indispensable theoretical references,
on the role of institutions to promote growth and economic development,
and on their relationship with the wider system of values and different
incentives placed on economic actors. At the same time, attention will be
given to international institutions, especially financial institutions, and to
institutions, on a national and regional scale, of an economic and political
nature.
A first long-term analysis will focus on the relationship between economy,
institutions and culture on a global scale, through a comparative analysis
of the main human civilizations.
With reference to the period from the first globalization of the late
nineteenth century up to the present day, attention is given both to
political and economic national institutions those designed for local
development, and to international financial institutions (monetary
system, World Bank, IMF, European Central Bank) and their impact on the
development policies of individual governments.
Within the borders of a vast, global and comparative picture, the Italian
case will be the object of particular study: in particular the institutions
(and the consequent policies) that favored the early twentieth century
takeoff and then the economic miracle, those created and which
operated (between light and shadow) for the convergence of the South,
the role that the institutional set-up of the country has played for the
stagnation of the last decades and the persistent dualism between North
and South.

Recommended Bibliography

Teacher's notes, on the evolution of the international financial system
from the first globalization to the present.
E. Felice, Storia economica della felicità, Bologna, il Mulino, 2017,
chapters I, III, IV, V.

E. Felice, Ascesa e declino. Storia economica d’Italia, Bologna, il Mulino,
2015, chapters I, II, III (parts 1 and 2), IV (parts 1 and 2), V (parts 1 and
2), VI (parts 1 and 2).

Teaching Methods

The course is structured in 72 hours of frontal teaching, divided into two
hours lessons. The frontal teaching consists of theoretical lessons held by
the teacher, based on the reference texts. During the teaching some
tests of learning are proposed to the students, to be held in the
classroom and in a collective way that propose questions aimed at
verifying the understanding of the topics covered.
Attendance is optional, recommended, and the final exam will be the
same for attending and non-attending students.

Evaluation methods

Verification of learning:

Final examination: Written.

Modalities for learning verification: learning verification is based on an written examination, through 2 open-ended questions aimed at assessing students’ knowledge of the teaching material, independence and communication skills. Particular attention will be paid to the appropriateness of the language used, the ability to connect several topics and critically conduct a dialogue on the topics proposed by the teacher. The final grade is based on a 30-point scale.

Contacts/More Information

E-mail: emanuele.felice@unich.it
Days and hours of reception of students: Wednesday, 11-13 am.

The teacher’s notes (in electronic format) will be sent by e-mail to all the
students and refer to a part of the lessons on the first part of the course.

Università degli Studi
"G. d'Annunzio"

Chieti - Pescara

Aree