Macroeconomics

The aim of the course is to provide a good knowledge and understanding of the economic system and of the role of economic policy. The course presents key concepts, relations, and models to understand the functioning of the market for goods and services, the financial markets and the labor market, especially with regard to the determination of output, employment and inflation. The main topics addressed are: (i) output and employment determination in a closed and in an open economy; (ii) inflation dynamics and cyclical output fluctuations; (iii) monetary and fiscal stabilization policy.

Students are expected to acquire the knowledge of the basic principles of Macroeconomics. Competence is developed regarding: i) the functioning of markets for goods and services, financial and labor markets; the macroeconomic interactions between States; iii) the objectives and instruments of monetary and fiscal policies. Students are expected to develop the basic skills for macroeconomic analysis with special attention to the interpretation of data and information, and the analysis of policy issues and their solutions.