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Economic Policy 2017/2018

  • 5 ECTS
  • Taught in Portuguese
  • Continuous Assessment


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.

Recommended Prerequisites

Microeconomics, Macroeconomics, Monetary and Financial Economics, and Economic Growth

Teaching Metodology

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

Recommended Bibliography

Bénassy-Quéré, Agnès, Coeuré, Benoît, Jacquet, Pierre and Pisani-Ferry, Jean (2010), Economic Policy: Theory and Practice, Oxford University Press.

Complementary Bibliography

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"

Weekly Planning

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 skillimproved?assessed?
Achieving practical application of theoretical knowledgeYesYes
Adapting to new situationsYesYes
Analytical and synthetic skillsYesYes
Commitment to effectivenessYesYes
Commitment to qualityYesYes
Cultural awarenessYesYes
Ethical and responsible behaviourYesYes
Event organization, planning and managementYesYes
Problem Analysis and AssessmentYesYes
Research skillsYesYes
Written and verbal communications skillsYesYes
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