The aim of the course is to provide the basic theoretical models for understanding the functioning of a macroeconomic system and the objectives and tools of economic policy. Students are expected to acquire the ability to critically apply these models for analyzing the macroeconomic context and evaluating its potential developments. Students will be able to apply the theoretical tools acquired to study problems in fields other than strictly macroeconomics, notably in the financial, insurance, and demographic fields.
Course Prerequisites
The following basic knowledge is required: Mathematics (in particular, properties of logarithms and function analysis), Microeconomics (utility function and indifference curves, production function, returns to scale and marginal productivity of factors), and Data Analysis (notions of probability and descriptive statistics)
Teaching Methods
Lectures and tutorials. Lectures will be delivered using presentations and explanations on the blackboard. The material is made available to students in the section dedicated to the course on the e-learning platform.
Assessment Methods
The exam is written and consists of 20 multiple-choice questions and 2 open-ended questions/exercises. The grading scale ranges from 0 to 30 e lode, with a passing score of 18/30. The multiple-choice questions contribute up to 10 points, while the remaining points are awarded through the open-ended questions/exercises. The final exam aims to assess the knowledge of basic macroeconomic models and the ability to apply them. A midterm test is scheduled, which accounts for 50% of the final grade. The use of calculators is allowed during the exam. The result of the midterm test will be communicated through the e-learning page of the course. The result of the final exam will be communicated through the esse3 system. Acceptance or rejection of the grade must be done in accordance with the current university academic regulations.
Texts
- Teacher's slides (available on the e-learning page of the course)
- Blanchard, O., Amighini, A., Giavazzi, F., Macroeconomia: una prospettiva europea, Il Mulino, , ISBN: 9788815287823
Contents
1) INTRODUCTION TO MACROECONOMICS Fundamental macroeconomic variables Basics of national accounting 2) THE SHORT RUN The goods market The financial markets The IS-LM model 3) THE MEDIUM RUN The labor market The Phillips curve The IS-LM-PC model 4) THE LONG RUN Economic growth: main facts Saving, accumulation, and growth Technological progress and growth: the Solow model 5)OPEN ECONOMY Introduction: balance of payments and exchange rate The goods market in an open economy Economic policy in an open economy Exchange rate regimes
