The present volume contains the text of three lectures on Monetary Theory, given by prof. F.H. Hahn at the University of Naples, and of the de. bate which took place thereafter. Prof. Hahn's lectures deal with the controversy between Keynesians and Monetarists, the comparison being made within the framework of the microeconomic foundations of the theories.

The argument is a very topical one and it is dealt with by means of a most rigorous and complete analysis. Prof. Hahn's conclusions are that the Monetarist point of view is but one among a wide range of possible results, and that the Keynesian result comes out to be a more realistic and fruitful one.

Ferruccio Marzano is Professor of Political Economy at the University of Rome. He is the author of various scientific publications in the field of both theoretical and applied economics among which the volumes "Teorie del capitale e delta produzione" (Padua, 1974) and "Un confronto critico fra teorie keynesiane e monetariste" (Naples, 1981).

Giuseppe Chirichiello is Associate Professor of Political Economy at the University of Rome. His fields of interest are general equilibrium and monetary theories; among his publications: the article "La teoria della capitalizzazione di L. Watras. Aspetti controversi e condizioni per la coerenza analitica" (Giornale degli Economisti, maggio/giugno 1982) and the volume "Il problema dell'integrazione tra teoria dei prezzi e teoria monetaria" (.Rome, 1983).