The course of Economic Policy provides the tools to understand the determination of the main macroeconomic aggregates such as the gross domestic product (GDP), the inflation rate, the unemployment rate and the interest rate.
The course also aims at analising how the government and the central bank, acting individually or in a coordinated manner, can manage to influence the values assumed by these variables.
The course offers an analytical framework amied at expressing a judgment about the opportunity and the worth of the public intervention on the economic system relying on the prevailing macroeconomic thoeries.
At the end of the lectures, students are assumed to be proficient with macroeconomic modelling and in evaluating fiscal and monetary policies.
Students will also learn the jeargon of the discipline.
Students are supposed to be familiar with the main topics of Economics as well as with the resolution of first-order equations.
The course is given through frontal lectures.
The syllabus of the course is the following:
I. The main topics of Macroeconomics: definition of output, unemployment and inflation rate
II. The market for goods
II. Financial markets
IV. The IS-LM model
V. The extended IS-LM model
VI. The labour market
VII. The Phillips curve, the natual rate of unemployement and the inflation rate
VIII. The IS-LM-PC model
IX. Economic growth: an introduction
Further indications will be eventually provided during the lectures.
The textbook is the following:
Blanchard, O., Amighini, A., Giavazzi, F. (2024), Macroeconomia: una prospettiva europea (ISBN: 978-88-15-38981-7), edizioni Il Mulino.
Ricevimento: By appointment, send an e-mail to guerrazzi@economia.unige.it
MARCO GUERRAZZI (President)
First semester
The timetable for this course is available here: EasyAcademy
The exam is given by a written assessment with open questions and numerical/analytical exercises.
The answers to the open questions and the solutions of the numerical/analytical exercises will be evaluated according to their correctness by considering also a proper use of the technical language typical of the subject.
Any changes will be announced during the lectures and on Aulaweb.
Attending the course is not compulsory but it is strongly recommended.
