Macroeconomics
A.Y. 2020/2021
Learning objectives
The course provides the basic tools required for understanding the key macroeconomic issues. The aim of the course is to provide a basic understanding of macroeconomics and to enable students to attend more specialized courses such as "Scienza delle Finanze" and "Politica Economica".
Expected learning outcomes
At the end of the course students will have familiarized with the macroeconomic models of: output and employment determination in the short run; medium run inflation dynamics and cyclical output fluctuations; long run economic growth and its determinants. Additionally, they will have learnt the role of expectations in economic policy.
Lesson period: Second trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course cannot be attended as a single course. Please check our list of single courses to find the ones available for enrolment.
Course syllabus and organization
Single session
Responsible
Lesson period
Second trimester
Mostly live lectures through MS Teams or Zoom. We will also try and organise some review classes in person.
Course syllabus
- Introduction to Macroeconomic issues: an overview
- Goods markets, financial markets and short-run equilibrium (the IS-LM model)
- The medium run equilibrium
- The labor market: the Phillips curve, the natural rate of unemployment, and inflation
- Public debt
- Expectations
- Open economy
- Openness in Goods and Financial Markets: exports, imports and capital movements
- Growth: savings, capital accumulation, and technological progress (Solow model)
- Goods markets, financial markets and short-run equilibrium (the IS-LM model)
- The medium run equilibrium
- The labor market: the Phillips curve, the natural rate of unemployment, and inflation
- Public debt
- Expectations
- Open economy
- Openness in Goods and Financial Markets: exports, imports and capital movements
- Growth: savings, capital accumulation, and technological progress (Solow model)
Prerequisites for admission
There is no manadatory pre-requirement. However, familiarity with basic mathematics and microeconomics is strongly recommended.
Teaching methods
Theory classes and tutorials
Teaching Resources
Blanchard, Olivier; Amighini, Alessia; Giavazzi, Francesco "Macroeconomia. Una prospettiva europea". Bologna: Il Mulino, 2016 (or the forthcoming most recent edition).
Optional: David W. Findlay, "Esercizi di macroeconomia. Guida allo studio del testo di Olivier Blanchard, Alessia Amighini, Francesco Giavazzi". Bologna, Il Mulino, any edition.
Optional: David W. Findlay, "Esercizi di macroeconomia. Guida allo studio del testo di Olivier Blanchard, Alessia Amighini, Francesco Giavazzi". Bologna, Il Mulino, any edition.
Assessment methods and Criteria
There will be a final written exam. Students will have 60 minutes to answer 15 multiple choice questions and two open questions/exercises.
I will also post on the course ARIEL webpage every week (ungraded) problem sets that we will then correct in class.
I will also post on the course ARIEL webpage every week (ungraded) problem sets that we will then correct in class.
Professor(s)
Reception:
Wednesday 9:30 - 12:30. Office hours are suspended until April 28.
Room 218 or MS Teams