O.Blanchard, A.Amighini, F.Giavazzi, Macroeconomia. Una prospettiva europea. Il Mulino 2020.
D.W.Findlay, Esercizi di macroeconomia. Guida allo studio del testo di Blanchard,Amighini,Giavazzi, Il Mulino.
Learning Objectives - Last names A-C
KNOWLEDGE: The course aims to impart knowledge of the main concepts, models and analytical methods through which the economy studies the functioning of national or regional economic systems, the role of financial markets, the interdependence of aggregate supply and demand, the relationships between real growth, inflation, functional income distribution.
SKILLS: Ability to interpret and critically evaluate information on macroeconomic facts at local and global level, the reasons for monetary and fiscal policy interventions, current trends and the foundations of short / medium term forecasts.
SKILLS ACQUIRED AT THE END OF THE COURSE: Develop a reasoning on a macroeconomic or economic policy problem with knowledge of the conceptual assumptions and mastery of basic analytical techniques.
Learning Objectives - Last names D-L
Good Knowledge of Macro models.
Interpretation of Data and Macro Policies
Learning Objectives - Last names M-P
KNOWLEDGE: The course aims to impart knowledge of the main concepts, models and analytical methods through which the economy studies the functioning of national or regional economic systems, the role of financial markets, the interdependence of aggregate supply and demand, the relationships between real growth, inflation, functional income distribution.
SKILLS: Ability to interpret and critically evaluate information on macroeconomic facts at local and global level, the reasons for monetary and fiscal policy interventions, current trends and the foundations of short / medium term forecasts.
SKILLS ACQUIRED AT THE END OF THE COURSE: Develop a reasoning on a macroeconomic or economic policy problem with knowledge of the conceptual assumptions and mastery of basic analytical techniques.
Learning Objectives - Last names Q-Z
KNOWLEDGE: Acquisition of the main concepts, methods and models of economic theory for the study of functioning of national or regional systems, the role of financial markets, the interdependence of aggregate demand and supply, the relations between real growth, inflation, and income distribution.
COMPETENCE:
The ability to interpret, evaluate, and criticize information on macroeconomic facts, both at a local and global level, the rationale for economic policy intervention, both fiscal and monetary, current trends, and the foundations of short/medium term forecasts.
CAPACITIES ACQUIRED AT THE END OF THE COURSE:
The ability to elaborate an argument on an issue concerning macroeconomics or economic policies in the knowledge of foundational concepts and basic analytical techniques.
Prerequisites - Last names A-C
The course requires the possession of basic knowledge of microeconomics and general mathematics (study of functions; basic notions of calculus)
Prerequisites - Last names D-L
Microeconomics and Mathematics
Prerequisites - Last names M-P
The course requires the possession of basic knowledge of microeconomics and general mathematics (study of functions; basic notions of calculus).
Prerequisites - Last names Q-Z
The course requires knowledge of basic microeconomics and general mathematics (functions and calculus)
Teaching Methods - Last names A-C
Frontal teaching lessons for a total of 72 hours
Teaching Methods - Last names D-L
72 hours of frontal lectures
Teaching Methods - Last names M-P
Frontal teaching lessons for a total of 72 hours
Teaching Methods - Last names Q-Z
72 hours of frontal lectures.
Further information - Last names D-L
.
Further information - Last names Q-Z
Attendance to lectures is recommended
Type of Assessment - Last names A-C
Written exam graded from 18 to 30.
Type of Assessment - Last names D-L
The exam is both written and oral.
Type of Assessment - Last names M-P
Written exam graded from 18 to 30.
Compulsory oral exam to confirm a mark higher than 26/30 obtained in the written exam. For example, a student who takes 28/30 in writing and does not take the oral exam, gets 26/30.
For grades between 18 and 26, the oral test is optional: by taking it it is possible to improve (or worsen) the grade of the written exam.
Type of Assessment - Last names Q-Z
A final written test to evaluated out of 30 points.
An oral test is mandatory to conferm a score abovo 26 out of 30. Otherwise, the oral test is optional.
Course program - Last names A-C
1354/5000
National accounts
Inflation
Money, monetary aggregates, demand for money
Money multiplier and monetary policy
Pre-Keynesian and Keynesian macroeconomics
The Y-Z Model: aggregate demand and equilibrium on the goods market
The Y-Z model: adjustment and changes in the marginal propensity to consume
The Y-Z Model: Tax Pressure, Equalized Budget Multiplier and Thrift Paradox
ISLM model: Investments, goods market and IS curve; money market and LM curve.
Macroeconomic equilibrium when the Central Bank fixes the quantity of money; variations of G and M.
IS-MP model: goods market and money market when the Central Bank sets the interest rate. Taylor's rule. Fiscal policy and monetary policy.
AD-AS model: determination of aggregate demand (AD); determination of aggregate supply (AS)
The macroeconomic balance
The neoclassical case of the AD-AS model.
Competitive and non-competitive labor market.
Salary and employment.
PS-WS model
Model AD-AS / PS-WS Shock of supply and demand.
The Phillips curve.
IS-PC-MP model
IS-PCE-MP model
Balance of payments and foreign exchange market
IS in Open Economics, LM in Open Economics, straight BB and straight IP.
Fiscal / monetary policies in fixed / flexible exchange rates.
Course program - Last names D-L
GDP, Inflation rate and Unemployment rate
Money and Interest rate
Income-Expenditure Model
IS-LM Model
IS-MP Model
AD-AS Model
PS-WS Model
Phillips Curve
AD-AS/PS-WS Model
IS-PC-MP Model
IS-PCE-MP Model
IS-LM-BB Model
Exchange Rates
Growth Models
Topics on: Financial Crisis, Labour Market reforms; Monetary and Fiscal Policy in XXI century; Technology and Labour
Course program - Last names M-P
Introduction to macroeconomics
National accounts
The goods market
The consumption function
Aggregate demand and the income-expenditure model
The principle of effective demand
Investment and interest rate
The IS schedule
Demand and supply of money
The LM schedule
The IS-LM model and the macroeconomic equilibrium
Fiscal and monetary policies in the IS-LM model
The IS-MP model
Zero Lower Bound and liquidity trap
Taylor's rule
Fiscal policy and monetary policy
The AD schedule
The AS schedule
The AD-AS model
Effects of fiscal and monetary policy
The neoclassical version of the AD-AS model
Competitive and non-competitive labor market.
The PS-WS model
AD-AS / PS-WS model
Supply and demand policies.
The Phillips curve and the IS-MP-PC model
Balance of payments and foreign exchange market
Open economy: the Mundell-Fleming model
Introduction to the theory of growth