Teoria dell'informazione e congiuntura italiana internazionale I parte Teoria dell'informazione - ENG

Teoria dell'informazione e congiuntura italiana internazionale I parte Teoria dell'informazione
Dott.ssa Daniela Sonedda

Course Code: E0277
Subject code: SECS-P/01
6 ECTS – 48 hours
Location: Novara


Educational aims

The module of the Economics of Information aims at discussing the agents’ rational choice in presence of asymmetric information. This course introduces students to basic tools widely used in modern microeconomics, examining a variety of models for the analysis of asymmetric information and contract theory.

The course of Italian and International Economic Trends examines Italian and International current economic situation; in particular it pays attention to the recent financial and real economic crisis and supplies theoretical tools to understand current economic trends.

Content of the course

The Economics of Information (Dott.ssa Daniela Sonedda) - 6 CFU

1.    Introduction to the Economics of Information
2.    Risk, uncertainty and asymmetric information: Chap. 13 (LC)
3.    The 1984 Diamond’s model: Chap 7 Par 7.2 (B)
4.    The Diamond and Dybvig’s model: Chap 7 Par 7.3 (B)
5.    Contract theory and the principal-agent model: Chap. 2 (NS)
6.    Empirical Evidence on Contract Theory: Chap. 2 (NS)
7.    Main drawbacks of the agency model: Chap. 2 (NS)
8.    Adverse Selection and signalling, the Spence’s Model: Chap. 5 (NS)
9.    The relationship between quality and prices: Chap 5 Par. 5.2.2 (NS)
10.    Credit rationing: Chap 5 Par 5.3.2 (NS) and Chap 7 (B)
11.    A multi agent perspective:  Chap 3 (NS)
12.    The rationale for measuring performance: Chap 3 (NS)

References

Diamond (1984) “Financial Intermediation and Delegated Monitoring” Review of Economic Studies, 51, pp.393-414 This article is available in library
Diamond and Dybvig (1983), “Bank runs, deposit insurance and liquidity” Journal of Political Economy, 91, pp. 401-419. This article is available in library
Diamond (2007) “Banks and Liquidity Creation: A Simple Exposition of the Diamond-Dybvig Model”, Federal Reserve Bank of Richmond Economic Quarterly, 93, pp. 189–200 This article is available in library
Diamond (1996), “Financial Intermediation as Delegated Monitoring: A Simple Example”, Federal Reserve Bank of Richmond Economic Quarterly, 82, pp 51-66. This article is available in library


Course Textbooks:

A. Nicita e V. Scoppa (NS), Economia dei Contratti, Carocci, 2005 This book is available in the library
A. Baglioni (B), “Informazione e incertezza nella teoria finanziaria”, Hoepli This book is available in the library
R. G. Lipsey e K. A. Chrystal (LC), Economia, seconda edizione, Zanichelli, 2006: CAPITOLO 13 This book is available in the library

Further informations can be found in the web page of the course at the URL https://eco.dir.unipmn.it/


Examination
Two essays on the topics listed above