Module Advanced Microeconomics This course has essentially two objectives: (i) to provide you with the tools necessary to tackle economic problems in a systematic way, and (ii) to develop basic intuitions that can help you analyze economic puzzles and policy problems you will encounter during the rest of your career. We will develop a theoretical model of both consumer and producer behavior. Combining both groups within a market and across markets provides a framework that is the basis for virtually all economic analysis. To motivate the concepts and to illustrate the usefulness of the tools, we will cover applications as time permits.
Module Advanced Macroeconomcis The course is an introduction to the analysis of the modern models for Dynamic Macroeconomics. It applies relevant formal economic reasoning and advanced optimization techniques to study such macroeconomic topics as: (1) Consumption; (2) Investment; (3) Employment/Unemployment. A significant portion of the course will be also devoted to: (4) Economic Growth. After a broad description of the main "facts" about the process of long-run per-capita income growth, the course will analyze such topics as the relationship between: (4.1.) Physical capital accumulation and growth; (4.2.) Human capital investment and growth; (4.3.) Research and development, population, and income growth.
Module Advanced Microeconomics Prerequisites This is an advanced class. At the beginning of the course, we will review the basic tools needed. Some previous knowledge of economics is a prerequisite. Grading The exam will be written and based on exercises and problems setting on whichwe are going to practice during the course. Logistics Students with particular needs should see me at the very beginning of the course.
Module Advanced Macroeconomics The exam is written both for those students who decide to attend and those students who decide not to attend the course. Knowledge of basic mathematical tools (such as static optimization in one- or multi-variate problems, with and without constraints; differential/difference equations analysis) is a strict pre-requisite for taking this course. Attendance of the course is warmly suggested.
Module Advanced Microeconomics
Course Outline (Book Chapter in brackets.)
1. Consumer Theory 1.1 Budget Constraint (Ch. 2) 1.2 Preferences and Utility (Chs. 3 and 4) 1.3 Utility Maximization (Chs. 5 and 6) 1.4 Substitution and Income Effect (Ch. 8) 1.5 Welfare Measurement (Ch. 14)
2. Theory of the Firm 2.1 Technology (Ch. 19) 2.2 Cost minimization (Ch. 21) 2.3 Cost curves (Ch. 22) 2.4 Profit Maximization (Ch. 20) 2.5 Firm supply (Ch. 23) 2.6 Industry Supply (Ch. 24)
4.3. Empirical applications of neoclassical growth models (Chapter 3, J-V)
4.4. The economics of ideas (Chapter 4, J-V)
4.5. The engine of growth (Chapter 5, J-V)
4.6. Alternative theories of endogenous growth (Chapter 9, J-V)
In the practical classes related to the course, the student will learn how to apply the theory studied during the theoretic lectures in solving numerical/concrete exercises.
Materiale didattico e bibliografia
REFERENCES: B-B : Fabio-Cesare BAGLIANO, and Giuseppe BERTOLA: "Models for Dynamic Macroeconomics", Oxford: Oxford University Press,2007 (First Edition in paperback). J-V : Charles I. JONES, and Dietrich VOLLRATH: "Introduction to Economic Growth", New York: W. W. Norton & Company, 2013 (Third Edition).
VENERDÌ, ore 12:15 - 14:15 (I° Trimestre, a partire dal 27/09/2019). Gli studenti-SPO che hanno ancora nel loro piano di studi l'esame di Macroeconomia da 9 CFU possono presentarsi (per l'orale integrativo da 3 CFU) VE 25/10, ore 13-14 (studio docente).
Studio n. 7- Dipartimento di Economia, Management e Metodi Quantitativi (DEMM), via Conservatorio 7 (Secondo Piano).