Macroeconomics

A.Y. 2023/2024
12
Max ECTS
80
Overall hours
SSD
SECS-P/01
Language
Italian
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.
Single course

This course can be attended as a single course.

Course syllabus and organization

Single session

Responsible
Lesson period
Second trimester
Course syllabus
Part 1. The short run and medium run in a closed economy (Prof. Bastianin)
- Introduction to macroeconomic problems: an overview.
- The goods market, financial markets, and income determination in the short run (the IS-LM model).
- The labor market, unemployment, and inflation (the Phillips curve).
- Production and price level determination in the medium run.
Part 2. Open economy and long run (Prof. Bucci)
- The goods market and financial markets in an open economy.
- Nominal and real exchange rates.
- Interest rates and exchange rates.
- Exchange rates, trade balance, and production.
- The IS-LM model in an open economy.
Prerequisites for admission
There is no manadatory pre-requirement. However, familiarity with basic mathematics and microeconomics is strongly recommended.

For a review of basic math, the following textbooks are suggested:

Theory:
· De Angelis, P.L. (Settembre 2015): "Matematica di Base", Seconda Edizione - G. Giappichelli Editore
· Greco, S. - Matarazzo, B. - Milici, S. (Ottobre 2016): "Matematica Generale", Seconda Edizione - G. Giappichelli Editore


Examples/exercises:
· Mattalia, C. (Luglio 2009): "Esercizi di Matematica" - G. Giappichelli Editore
· Resta, M. (Ottobre 2011): "Esercizi di Matematica" - G. Giappichelli Editore
· Salinelli, E. (Giugno 2015): "Esercizi Svolti di Matematica" - G. Giappichelli Editore
Teaching methods
Lectures and tutorials.
Teaching Resources
Part 1
· Blanchard, Olivier; Amighini, Alessia; Giavazzi, Francesco "Macroeconomia. Una prospettiva europea". Bologna: Il Mulino, 2020. Chap.: 1-9.

https://www.pandoracampus.it/store/details/10.978.8815/363183

Part 2
· Blanchard, Olivier; Amighini, Alessia; Giavazzi, Francesco "Macroeconomia. Una prospettiva europea". Bologna: Il Mulino, 2016. Chap.: 17-18-19 (in Cap. 19 paragraph 5 is excluded) -10-11.

For these chapters as well, it is possible to use the 2020 edition of the indicated textbook, provided that the student identifies the corresponding parts specified for the required edition (i.e., the 2016 edition).

https://www.pandoracampus.it/store/10.978.8815/329233

For those who wish to practice additional exercises beyond those covered in class, the following textbook is also recommended:
- David W. Findlay "Esercizi di macroeconomia - Guida allo studio del testo di Olivier Blanchard, Alessia Amighini, Francesco Giavazzi". Bologna: Il Mulino, 2021.
Assessment methods and Criteria
The exam is conducted EXCLUSIVELY in written form. You will have 90 minutes to answer 20 questions (10 for each part of the course), all multiple-choice (each question will have 4 possible answers, of which only one is correct). Those who do not answer at least 18 out of 20 questions correctly will not have their exam graded. Some or all of the 20 multiple-choice questions may also be presented in the form of exercises, and their solution and method of solving will contribute to the exam grade. The exam is considered passed by achieving a minimum score of 18/30 in each of the two parts.

There is no mid-term test scheduled. However, students will receive a set of exercises that they will be asked to solve independently, and these exercises will be corrected during the tutorials conducted by the professors of both parts of the course.
SECS-P/01 - ECONOMICS - University credits: 12
Lessons: 80 hours
Educational website(s)
Professor(s)
Reception:
Tuesday 13-16
MS Teams (please send email for confirmation)