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SANFILIPPO ELEONORA - Professore Associato

Italian version

Department: Dipartimento: Economia e Giurisprudenza

Scientific Sector: SECS-P/01

Student reception: Mercoledì 14-15 durante i periodi di insegnamento. Previo appuntamento, negli altri periodi.

Contact info:
E-Mail: eleonora.sanfilippo@yahoo.it
E-Mail: e.sanfilippo@unicas.it

  • Teaching Introduction to Economics (92727)

    Primo anno di Economia e commercio (L-33), Economics and business
    Credits (CFU): 8,00
  • Teaching Introduction to Economics (92727)

    Primo anno di Economia e commercio (L-33), Economics and business
    Credits (CFU): 4,00
  • Teaching Historical perspectives in entrepreneurship (93280)

    Primo anno di Economics and Entrepreneurship (LM-56), Curriculum unico
    Credits (CFU): 6,00
  • Teaching Historical perspectives in entrepreneurship (93280)

    Primo anno di Global economy and business (LM-56), Global Economy and Business
    Credits (CFU): 6,00
  • Teaching Controversies in economics (91989)

    Secondo anno di Economia e commercio (L-33), Economics and business
    Credits (CFU): 6,00

    Program:
    This course is focused on the heterogeneity of approaches in Economics and analyzes a selection of economic concepts and issues within the different authors and schools of thought, from the XVIII Century to the present time.

    SYLLABUS for ATTENDING students (a.y. 2019/20)
    1. History of Economic analysis: Introduction to the controversial nature of the discipline and discussion of the role of economics (and economists) in our society. Historical Perspective and Pluralism. Discussion of the students’ protest movement ‘Rethinking Economics’.
    2. Marshall and ‘The art and science of economics at Cambridge’. The role of Mathematics in Economics.
    3. Economic theory and actual world: discussion on the appropriateness of macroeconomic models. The debate on the DSGE models and their inability to predict the 2008 economic and financial crisis.
    4. Visions of capitalism: the Say’s Law (Capitalism as a self-adjusting system), the under-consumptionist view of Malthus and Keynes (Capitalism as an imperfect and perfectible system), and Marx’s critical approach (The fall of capitalism).
    5. The issue of interdependencies in consumption: the debate between Marshall, Cunynghame, Pigou, Edgeworth and Caroline Foley. Veblen’s theory of conspicuous consumption. Duesenberry and the ‘relative income hypothesis’.
    6. The origin of value: labour-value theory versus utility approach. Insights from Smith, Ricardo, Jevons, Bentham and Marshall.
    7. The theory of employment and different explanation of unemployment. Neoclassical, Keynesian and New-Keynesian approaches to the labour market.
    8. The role and impact of technological innovation on the labour market: Marx's Capital (1867), Keynes’s ‘Economic Possibilities for Our Grandchildren’ (1930)
    9.Monetary Policy and fiscal policy: Monetarists versus Keynesians. Ineffectiveness of the monetary policy: Liquidity trap and Inelasticity of Investment. Fiscal policy: Crowding out effect.
    10. The debate about the role of economic policy after the 2008 crisis.
    Readings:
    A selection of articles and excerpts from original texts will be provided by the instructor during the course.

    SYLLABUS for NON-ATTENDING students (a.y. 2019/2020)
    1.Introduction to the history of economic thought. Relativist and absolutist approaches. Orthodox and Heterodox Economists. The importance of pluralism of ideas. Economics as an Art and a Science. The profession of economics and its methodology. The role of the history of economic thought.
    2.Adam Smith: his analysis of the market. The concept of ‘invisible hand’ and the laissez-faire policy. The nature and causes of the wealth of nations. Value and distribution theory.
    3.Ricardo and Malthus. Ricardo’s theory of differential rent. The Corn Laws and Ricardo’s Corn model. The labour theory of value. The Malthusian population doctrine. The Says’s Law, Malthus and the underconsumptionist view.
    4.Marx and his critique of Classical Political Economy. Marx’s theory of exploitation. His view of capitalism.
    5.Neoclassical economics: Jevons and the foundations of Marginal analysis. Marginal and total utility. The diminishing law of marginal utility.
    6.Marshall and his contribution to economic theory. His theory of market demand. His method of analysis.
    7.Walras and the general equilibrium theory.
    8.Institutional economics: Veblen’s criticism of Neoclassical theory.
    9.Austrian Economists and the debate about socialism and capitalism.
    10.John Maynard Keynes: the founder of modern macroeconomics. His contribution to the explanation of economic crises and stagnation. His relevance for today’s economics and policy.
    11.The development of Modern Macroeconomic Thought. The IS-LM model and different approach to macroeconomic policies. New-Keynesian economics.
    12.The development of modern Heterodox economic thought. Neo-institutionalists and Post-Keynesians. Schumpeter and Galbraith.



    Non-attending students are requested to contact the instructor (also by email) before registering for the exam.






    Reference books:
    For attending students:

    READINGS 2019/2020 (provided by the instructor during the course)
    • - Article ‘The art and science of economics at Cambridge’ , The Economist, December 2016;
    • - Article ‘Building a science of economics for the real world’, Author: R. Solow, July 2010
    • - Article ‘Rethinking macroeconomics: what failed and how to repair it’, Author: J.Stiglitz, Source: Journal of the European Economic Association, August 2011, vol. 9, no. 4, pp. 591-645.
    • - Article ‘Do DSGE models have a future?’, Author: O. Blanchard, Source: Policy Brief, Peterson Institute for International Economics, August 2016
    • - Article ‘The State of macro is sad’, Author: P.Krugman, Source: Krugman’s blog ‘The conscience of a Liberal’
    • Paper ‘Some Improvements in Simple Geometrical Methods of Treating Exchange Value, Monopoly, and Rent.’ Author: H. Cunynghame, The Economic Journal (1892), Vol. 2, no 5, pp. 35–52.
    • Ch. 4 ‘The neoclassical view’ and Ch. 5 ‘Thorstein Veblen and the Gilded Age’ from The Economics of Conspicuous Consumption, by R. Mason (1998), Cheltenham, Edward Elgar
    • ‘The Limitations of Marginal Utility’; Author: T.Veblen, Journal of Political Economy, vol. 17(9), Nov. 1909, pp. 620-636
    • Excerpts from Jevons’s Theory of Political Economy (1871), from Bentham’s An Introduction to the Principles of Morals and Legislation (1789), from Ricardo’s On the Principles of Political Economy and Taxation (1817) and from Keynes (1926) ‘The end of laissez-faire’
    • - ‘The liquidity trap in action’, From O.Blanchard Macroeconomics, 7th edition, Pearson Education, 2017, p. 80
    • - ‘Keynesians versus Monetarists’, ‘The Lucas Critique’, From O. Blanchard, Macroeconomics, 7th edition, Pearson Education, 2017, Ch. 24

    For non-attending students:
    Textbook: Landreth, H. and Colander, D. (2002) History of economic thought, Boston and Toronto: Houghton Mifflin Company, 4th edition
    Chapters to be studied: 1+Appendix, 4, 5, 7, 8, 10, 11, 12, 13, 15, 17
    Reading: Skidelsky, R. Keynes. The Return of the Master, New York: PublicAffairs

  • Teaching Historical perspectives in entrepreneurship (92738)

    Secondo anno di Global economy and business (LM-56), Global Economy and Business
    Credits (CFU): 6,00
  • Teaching Historical perspectives in entrepreneurship (92738)

    Secondo anno di Economics and Entrepreneurship (LM-56), Curriculum unico
    Credits (CFU): 6,00
  • Teaching Academic reading and writing (92771)

    Secondo anno di Global economy and business (LM-56), Global Economy and Business
    Credits (CFU): 3,00
  • Teaching Academic reading and writing (92771)

    Secondo anno di Economics and Entrepreneurship (LM-56), Curriculum unico
    Credits (CFU): 3,00
  • Teaching Controversies in economics (91989)

    Terzo anno di Economia e commercio (L-33), Economics and business
    Credits (CFU): 6,00

    Program:
    This course is focused on the heterogeneity of approaches in Economics and analyzes a selection of economic concepts and issues within the different authors and schools of thought, from the XVIII Century to the present time.

    SYLLABUS for ATTENDING students (a.y. 2019/20)
    1. History of Economic analysis: Introduction to the controversial nature of the discipline and discussion of the role of economics (and economists) in our society. Historical Perspective and Pluralism. Discussion of the students’ protest movement ‘Rethinking Economics’.
    2. Marshall and ‘The art and science of economics at Cambridge’. The role of Mathematics in Economics.
    3. Economic theory and actual world: discussion on the appropriateness of macroeconomic models. The debate on the DSGE models and their inability to predict the 2008 economic and financial crisis.
    4. Visions of capitalism: the Say’s Law (Capitalism as a self-adjusting system), the under-consumptionist view of Malthus and Keynes (Capitalism as an imperfect and perfectible system), and Marx’s critical approach (The fall of capitalism).
    5. The issue of interdependencies in consumption: the debate between Marshall, Cunynghame, Pigou, Edgeworth and Caroline Foley. Veblen’s theory of conspicuous consumption. Duesenberry and the ‘relative income hypothesis’.
    6. The origin of value: labour-value theory versus utility approach. Insights from Smith, Ricardo, Jevons, Bentham and Marshall.
    7. The theory of employment and different explanation of unemployment. Neoclassical, Keynesian and New-Keynesian approaches to the labour market.
    8. The role and impact of technological innovation on the labour market: Marx's Capital (1867), Keynes’s ‘Economic Possibilities for Our Grandchildren’ (1930)
    9.Monetary Policy and fiscal policy: Monetarists versus Keynesians. Ineffectiveness of the monetary policy: Liquidity trap and Inelasticity of Investment. Fiscal policy: Crowding out effect.
    10. The debate about the role of economic policy after the 2008 crisis.
    Readings:
    A selection of articles and excerpts from original texts will be provided by the instructor during the course.

    SYLLABUS for NON-ATTENDING students (a.y. 2019/2020)
    1.Introduction to the history of economic thought. Relativist and absolutist approaches. Orthodox and Heterodox Economists. The importance of pluralism of ideas. Economics as an Art and a Science. The profession of economics and its methodology. The role of the history of economic thought.
    2.Adam Smith: his analysis of the market. The concept of ‘invisible hand’ and the laissez-faire policy. The nature and causes of the wealth of nations. Value and distribution theory.
    3.Ricardo and Malthus. Ricardo’s theory of differential rent. The Corn Laws and Ricardo’s Corn model. The labour theory of value. The Malthusian population doctrine. The Says’s Law, Malthus and the underconsumptionist view.
    4.Marx and his critique of Classical Political Economy. Marx’s theory of exploitation. His view of capitalism.
    5.Neoclassical economics: Jevons and the foundations of Marginal analysis. Marginal and total utility. The diminishing law of marginal utility.
    6.Marshall and his contribution to economic theory. His theory of market demand. His method of analysis.
    7.Walras and the general equilibrium theory.
    8.Institutional economics: Veblen’s criticism of Neoclassical theory.
    9.Austrian Economists and the debate about socialism and capitalism.
    10.John Maynard Keynes: the founder of modern macroeconomics. His contribution to the explanation of economic crises and stagnation. His relevance for today’s economics and policy.
    11.The development of Modern Macroeconomic Thought. The IS-LM model and different approach to macroeconomic policies. New-Keynesian economics.
    12.The development of modern Heterodox economic thought. Neo-institutionalists and Post-Keynesians. Schumpeter and Galbraith.



    Non-attending students are requested to contact the instructor (also by email) before registering for the exam.






    Reference books:
    For attending students:

    READINGS 2019/2020 (provided by the instructor during the course)
    • - Article ‘The art and science of economics at Cambridge’ , The Economist, December 2016;
    • - Article ‘Building a science of economics for the real world’, Author: R. Solow, July 2010
    • - Article ‘Rethinking macroeconomics: what failed and how to repair it’, Author: J.Stiglitz, Source: Journal of the European Economic Association, August 2011, vol. 9, no. 4, pp. 591-645.
    • - Article ‘Do DSGE models have a future?’, Author: O. Blanchard, Source: Policy Brief, Peterson Institute for International Economics, August 2016
    • - Article ‘The State of macro is sad’, Author: P.Krugman, Source: Krugman’s blog ‘The conscience of a Liberal’
    • Paper ‘Some Improvements in Simple Geometrical Methods of Treating Exchange Value, Monopoly, and Rent.’ Author: H. Cunynghame, The Economic Journal (1892), Vol. 2, no 5, pp. 35–52.
    • Ch. 4 ‘The neoclassical view’ and Ch. 5 ‘Thorstein Veblen and the Gilded Age’ from The Economics of Conspicuous Consumption, by R. Mason (1998), Cheltenham, Edward Elgar
    • ‘The Limitations of Marginal Utility’; Author: T.Veblen, Journal of Political Economy, vol. 17(9), Nov. 1909, pp. 620-636
    • Excerpts from Jevons’s Theory of Political Economy (1871), from Bentham’s An Introduction to the Principles of Morals and Legislation (1789), from Ricardo’s On the Principles of Political Economy and Taxation (1817) and from Keynes (1926) ‘The end of laissez-faire’
    • - ‘The liquidity trap in action’, From O.Blanchard Macroeconomics, 7th edition, Pearson Education, 2017, p. 80
    • - ‘Keynesians versus Monetarists’, ‘The Lucas Critique’, From O. Blanchard, Macroeconomics, 7th edition, Pearson Education, 2017, Ch. 24

    For non-attending students:
    Textbook: Landreth, H. and Colander, D. (2002) History of economic thought, Boston and Toronto: Houghton Mifflin Company, 4th edition
    Chapters to be studied: 1+Appendix, 4, 5, 7, 8, 10, 11, 12, 13, 15, 17
    Reading: Skidelsky, R. Keynes. The Return of the Master, New York: PublicAffairs

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ELEONORA SANFILIPPO is Associate Professor in Economics at the Department of Economics and Law of the University of Cassino and Southern Lazio. She actually teaches there the following courses: a) Economics Part II (Macroeconomics), Master Degree Program in Global Economy and Business; b) Controversies in Economics, Laurea triennale in Economia e Commercio; c) Economia Politica, Part II (macroeconomics), Laurea triennale in Economia Aziendale, Frosinone. From 2010 to 2013 she also taught Macroeconomics at the Economics Faculty of the Catholic University of Milan. In 2000 she took her PhD in Economics at the University of Siena, Italy. She regularly participates to international conferences on her fields of interests, presenting her papers and discussing papers of others. She was invited speakers in seminars abroad (e.g. at the Robinson College, Cambridge, UK, 2012; Sophia University, Tokyo and Hitotsubashi University, Tachikawa, 2006 and 2015) and she is referee and reviewer for the Journal of the History of Economic Thought, History of Political Economy and History of Economic Ideas. She is a member of the ESHET Council, the Committee that is in charge of the attribution of the following Awards: Best Book, Best Article, Young Researcher, Gilles Dostaler and Honorary Member. She participated in several research projects financed by the Italian Ministry of Research and by the Bank of Italy.

- Main research interests:

-Keynes’s speculation theory, with particular reference to the analysis of the commodity futures markets; Keynes’s proposal of buffer stocks schemes aiming at controlling price fluctuations of raw materials; Keynes’s practice as an investor in the future and option markets and, recently, also in the stock markets.
- reconstruction and analysis of the notion of creative goods in economics, with particular reference to the contributions of Scitovsky and Hawtrey.
- Interdependencies of preferences in the 19th and 20th century theory of consumption
- history and method of economic analysis, and in particular the questions of period analysis, time and equilibrium in Marshall, Keynes, Hicks and in macroeconomic theory in general;
- reconstruction of the Keynesian consumption theory in the light of the modern contributions offered by behavioral economics;
- reconstruction, grounded on unpublished archival material, of biographical and theoretical aspects of some of the Cambridge economists.

Main Publications

1. (2019) Rosselli, A., Naldi, N., Sanfilippo, E.(eds) Money, Finance and Crises in Economic History: The long-term impact of economic ideas, London and New York, Routledge
2. (2018) Cristiano, C., Marcuzzo M.C., Sanfilippo, E. ‘Taming the Great Depression. Keynes’s personal investment in the US stock market’ , ECONOMIA POLITICA, vol. 35(1), pp. 13-40, first published on line (November 2017) at https://doi.org/10.1007/s40888-017-0081-3
3. (2017) Bariletti A., Sanfilippo E., 'At the origin of the notion of creative goods in economics: Scitovsky and Hawtrey' HISTORY OF ECONOMIC THOUGHT AND POLICY, vol. 6 (1): 5-34, ISSN: 2240-9971.
4. (2017) Foresti, T. Sanfilippo, E., 'Keynes's personal investments in the wheat futures markets, 1925-1935', HISTORY OF ECONOMIC IDEAS, vol. 25 (2): 63-90, ISSN: 1122-8792.
3. (2016) Marcuzzo), M.C., Sanfilippo E. ‘Keynes and the interwar commodity option markets’, CAMBRIDGE JOURNAL OF ECONOMICS, 40(1): 327-348, doi: 10.1093/cje/bev017, (first published online March 28 2015)
4. (2015) M.Bianchi, E.Sanfilippo, ‘Social Interdependencies in Consumption: An Early Economic Debate on Social Distinction, Emulation and Fashion’, HISTORY OF POLITICAL ECONOMY, 47(4): 547-575, doi: 10.1215/00182702-3321312.
5. (2014) L.Fantacci, M.C.Marcuzzo, E.Sanfilippo, 'A Note on the Notions of Risk-and-Liquidity Premium in Hicks's and Keynes's Analyses of the Term Structure of Interest Rates, EUROPEAN JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT, 21(6): 1102-1108.
6. (2012) L.Fantacci, M.C.Marcuzzo, A.Rosselli, E.Sanfilippo ‘Speculation and buffer stocks: The Legacy of Keynes and Kahn’, EUROPEAN JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT, 19(3): 453-473, ISSN: 0967-2567
7. (2011) E. Sanfilippo ‘Short period and Long period in Macroeconomics: an Awkward Distinction’, REVIEW OF POLITICAL ECONOMY, 23(3): 371-388, ISSN: 0953-8259, doi: 10.1080/09538259.2011.583821.
8. (2010) F. D'Orlando, E. Sanfilippo ‘Behavioral Foundations for the Keynesian Consumption Function’, JOURNAL OF ECONOMIC PSYCHOLOGY, 31(6): 1035-1046, ISSN: 0167-4870, doi:10.1016/j.joep.2010.09.004.
9. (2010) L.Fantacci, M.C. Marcuzzo, E. Sanfilippo ‘Speculation in Commodities: Keynes' practical acquaintance with futures markets’, JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT,32: 397-418, ISSN: 1053-8372, doi: 10.1017/S1053837210000337
10. (2008) M.C. Marcuzzo, N. Naldi, A. Rosselli, E. Sanfilippo ‘Cambridge as a Place in Economics, HISTORY OF POLITICAL ECONOMY, 40(4): 569-593, ISSN: 0018-2702.
11. (2008) E.Sanfilippo ‘The Collaboration between Robertson and Keynes during the Second World War: a Perspective from the National Archives’. In: Leeson R. (ed.) Archival Insights into the Evolution of Economics. Volume I: The Keynesian Tradition, Vol. 1, pp. 42-64, Basingstoke: Palgrave Macmillan.
12. (2008) M.C.Marcuzzo, E.Sanfilippo ‘Dear John and Dear Ursula, Cambridge and LSE, 1935: 88 Letters Unearthed’. In: Scazzieri R.; Sen A.K.; Zamagni S. (eds. )Markets, Money and Capital: Hicksian Economics for the 21st Century, pp. 72-91, Cambridge: Cambridge University Press.
14. (2007) M.C.Marcuzzo, E.Sanfilippo ‘Profit Maximization in the Cambridge Tradition of Economics’. In: Forstater M., Mongiovi G., Pressman S. (eds.) Post-Keynesian Macroeconomics. Essays in Honour of Ingrid Rima, pp. 70-86, London: Routledge, ISBN: 978-0-415-77231-0.
15. (2005) E.Sanfilippo ‘Keynes’s valuable opponent and collaborator. The correspondence between Keynes and Robertson’. In: Marcuzzo M.C., Rosselli A. (eds.) Economists in Cambridge. A study through their correspondence, 1907-1946, pp. 58-76, ISBN: 0-415-34023-3
16. (2003) E. Sanfilippo ‘Period Analysis and Ceteris Paribus Assumption in Marshall and Keynes’, INDIAN JOURNAL OF APPLIED ECONOMICS, 11: 109-132, ISSN: 0971-8281

Book Reviews in Scientific Journals:
1. (2017) E.Sanfilippo, Review of A Compendium of Italian Economists at Oxbridge by M.Baranzini and A.Mirante, Palgrave Macmillan, 2016, ISBN 978-3-319-32218-6, History of Economic Ideas, vol. 25(3), pp. 183-186.
2.(2015) E.Sanfilippo, Review of Keynes and His Contemporaries, Tradition and Enterprise in the Cambridge School of Economics, by A.Komine, Abingdon, Oxon: Routledge, in HISTORY OF ECONOMIC THOUGHT AND POLICY, 1-2015: 124-126
3. (2011) E. Sanfilippo, Review of The Provocative Joan Robinson. The Making of a Cambridge Economist, by N.Aslanbeigui and G.Oakes, JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT, 33(1): 139-142, ISSN: 1053-8372
4. (2010) E.Sanfilippo Review of Gli archivi e la storia del pensiero economico, edited by P.Barucci, L.Costabile, M. Di Matteo, HISTORY OF POLITICAL ECONOMY, 42(4): 777-779, ISSN: 0018-2702.

[Ultima modifica: mercoledì 30 novembre 2016]