Advanced microeconomics and macroeconomics

A.A. 2021/2022
12
Crediti massimi
80
Ore totali
SSD
SECS-P/01
Lingua
Inglese
Obiettivi formativi
This course is designed to provide a rigorous introduction to both modern microeconomics and modern macroeconomics. Its objective is to equip students with the basic analytical tools to read and understand the academic literature and the policy debate on both microeconomic issues (e.g. how consumer choice and firm behaviour are affected by market design and public policy) and macroeconomic issues (e.g. the efficacy and desirability of fiscal and monetary policies).
Risultati apprendimento attesi
For the Advanced Microeconomics module: After the course, students must be able to use economic reasoning to understand the main determinants of individuals' and firms' decisions, the
functioning of markets in real world settings, and how they are influenced by public policies or changes in economic fundamentals. This theoretical knowledge is highly complementary to the data analysis techniques that students will learn in other courses (such as "Research Methods") and are key to a correct understanding and interpretation of the empirical evidence. Students will also acquire the basic knowledge needed to approach more advanced topics in other subfields of economics for which microeconomics is a pre-requisite (e.g. development, education, health, industrial, international, labour, and public economics, among others).

For the Advanced Macroeconomics module: By the end of the course, students will be equipped with analytical tools for improving their knowledge and understanding of some major real-world macroeconomic issues (for example: why delegating monetary policy to an independent central bank? Should government fiscal policy be constrained by rules? Which factors can trigger bank runs or sovereign debt crises? how can government policy help to avoid them? What are the macroeconomic and welfare effects of different social security systems? Can government use fiscal policies to affect economic growth?) Students should know as how to use economic analysis to make informed judgements about macroeconomic issues. Seminar presentations (on a voluntary basis) will enable students both to test their understanding and ability to communicate knowledge of the relevant topics and to discuss real-world macroeconomic issues with their pairs.
Programma e organizzazione didattica

Edizione unica

Responsabile
Periodo
Secondo trimestre
Lectures will be provided in class wherever it is possible due to restrictions imposed by the COVID19 situations. The preferred online platform will be zoom, through which lectures will be recorded. In addition there are going to be online meetings on Zoom to discuss topics of the course. The exercises classes will be designed according to the availability of rooms and the rules provided by the university (e.g. being in class or on zoom)
Prerequisiti
Students are expected to have fully mastered the following topics: linear algebra, intermediate calculus, static optimization. Introductory knowledge of game theory is useful. Basic knowledge of first-order differential and difference equations (qualitative solution) and of dynamic optimization under certainty is useful for the Advanced Macroeconomics module.
For the Advanced Microeconomics module, students are expected to have a reasonable knowledge of topics taught in introductory and intermediate microeconomics (i.e. consumer and producer theories, partial competitive equilibrium theory). Useful preparatory readings are: Hal Varian, Intermediate Microeconomics: A modern approach, 9th Edition (Last Edition). Regarding Mathematics, Simon, C.P. and Blume, L. (1994), Mathematics for Economists, W. W. Norton & Company, Inc.
For the Advanced Macroeconomics module Students are expected to have fully mastered the following topics: linear algebra, intermediate calculus, static optimization. Introductory knowledge of game theory is useful. Basic knowledge of first-order differential and difference equations, and of dynamic optimization is useful for the Advanced Macroeconomics module.
Modalità di verifica dell’apprendimento e criteri di valutazione
The course is assessed with two distinct examinations, one for the Advanced Microeconomics module (taught in the second term), and the other for the Advanced Macroeconomics module (taught in the third term). The final assessment is based on a written exam. The final written exam for Adv. Microeconomics consists of multiple choices questions based on exercises similar to those that have been solved in the course classes.
The final mark will be the weighted average (with equal weights) of the mark obtained in the Advanced Microeconomics exam and of the mark obtained in the Advanced Macroeconomics exam.
Module Advanced Microeconomics
Programma
1. Preference and Utility
2. Demand Theory and Applications
3. Production Theory and Applications
4. Choice under uncertainty
5. Perfect Competition
6. Monopoly
7. Introduction to Oligopoly
The program could be subject to some changes from year to year. Please check the ARIEL website for updates.
Metodi didattici
The course uses both lectures in which students will be taught microeconomic theory and classes mainly devoted to solving exercises.
Materiale di riferimento
Hal Varian, Microeconomic Analysis, Third Edition.
Specific indications on the textbook will be provided at the beginning go the course
Module Advanced Macroeconomics
Programma
1. Introduction: From Business-Cycle Measurement to Macroeconomic Theory
2. Foundations: Aggregate Demand (AD) and Aggregate Supply (AS)
3. AD-AS Equilibrium and the Propagation of Macroeconomic Shocks
4. Monetary Policy
5. Fiscal Policy
6. The Liquidity Trap and Unconventional Policies
The program could be subject to some changes from year to year. Please check the ARIEL website for updates.
Metodi didattici
The course uses both lectures in which theoretical models and empirical evidence will be discussed, and classes mainly devoted to solving exercises.
Materiale di riferimento
Edouard Challe, Macroeconomic Fluctuations and Policies, MIT Press.
Additional material (slides and handouts) will be uploaded on the ARIEL website.
Moduli o unità didattiche
Module Advanced Macroeconomics
SECS-P/01 - ECONOMIA POLITICA - CFU: 6
Lezioni: 40 ore

Module Advanced Microeconomics
SECS-P/01 - ECONOMIA POLITICA - CFU: 6
Esercitazioni: 20 ore
Lezioni: 20 ore
Docente: Grembi Veronica

Docente/i
Ricevimento:
Martedi 16.30-19.00
Via Conservatorio 7