OVERVIEW

The course is an introduction to the study of macroeconomics. It covers the main issues, methods, data, concepts and models.
Students will be able and motivated to follow and understand the current debates on macroeconomic issues, as they are reported by the qualified press and media. A special focus will be on understanding and debating the appropriateness of the macroeconomic policies adopted in the Great Recession.
 

AIMS AND CONTENT

LEARNING OUTCOMES

The course provides the basic tools for understanding economic policies, in particular monetary and fiscal policies. The aim is to offer adequate preparation on the fundamental themes of macroeconomic analysis: fluctuations in income and employment and the role of stabilization policies, the causes of inflation and the determinants of economic growth.

AIMS AND LEARNING OUTCOMES

At the end of the course, the student will have acquired a fundamental knowledge of all the major themes of modern macroeconomic equilibrium theory in the long-run.

PREREQUISITES

The course assumes a basic knowledge of microeconomics, such as the theory of the consumer, producer theory, and the foundations of mathematical analysis.

TEACHING METHODS

The course consists of lectures, for a total of 60 hours (10 CFU) aimed at explaining the main notions of Macroeconomics. Graphs will be used, all of which will be explained and constructed in class. This explains the importance of attending classes.

The slides of the course, together with exercises to prepare the exams, will be uploaded on Aulaweb.

SYLLABUS/CONTENT

Introduction: course syllabus and scope. Definition of GDP.

Aggregate supply and effective demand. Equilibrium

Consumption, Investment, Government Expenditure

Savings and Investment

Money supply and money demand

Financial markets. The Central Bank

The IS and LM curves: meaning and warnings

Financial markets

The labour market. The bargaining process

The price level

The short-run and long-run: what these terms mean

The aggregate supply and aggregate demand curves

The Phillips curve and inflation

The Okun’s law

The long-run theory: the aggregate production function and steady states

Expectations: nominal and real interest rates

The open economy

Capital movements

The exchange rate and exchange rate regimes

RECOMMENDED READING/BIBLIOGRAPHY

MANKIW G. e TAYLOR M., Macroeconomia, Zanichelli, Bologna,  latest edition.

TEACHERS AND EXAM BOARD

Exam Board

ELENA SEGHEZZA (President)

GIULIA BIANCHI (Substitute)

GIOVANNI BATTISTA PITTALUGA (Substitute)

ANDREA VINDIGNI (Substitute)

LESSONS

LESSONS START

First semester, in the first week of the semester.

Class schedule

MACROECONOMICS

EXAMS

EXAM DESCRIPTION

Written and oral exam. The oral part of the exam is not compulsory, however, it is not possible to reach a grade higher than 26 without doing the oral examination.

The written part of the exam consists of 22 quiz and 2 open questions. The student must be able to explain, using graphs, the various economic policies. 

ASSESSMENT METHODS

At the end of the course, the student will have acquired a fundamental knowledge of all the major themes of modern macroeconomic equilibrium theory in the long-run.

Exam schedule

FURTHER INFORMATION

Assiduous frequancy and consultation of the aula web.