MACROECONOMICS (SURNAMES L-Z)
Stampa
Enrollment year
2019/2020
Academic year
2020/2021
Regulations
DM270
Academic discipline
SECS-P/01 (POLITICAL ECONOMY)
Department
DEPARTMENT OF ECONOMICS AND MANAGEMENT
Course
BUSINESS MANAGEMENT
Curriculum
PERCORSO COMUNE
Year of study
Period
(28/09/2020 - 22/12/2020)
ECTS
9
Lesson hours
66 lesson hours
Language
Italian
Activity type
WRITTEN TEST
Teacher
Prerequisites
Students are required to know basic notions in Math (specifically, properties of logs, basic calculus and study of functions), in Microeconomics (utility function, indifference curve, production function, scale return, factors’ marginal productivity) and in Data Analysis (notions in probability, central tendency and variability indices).
Learning outcomes
The class aims to provide students with basic theoretical models to understand the working of a macroeconomic system. Furthermore, it aims to provide the skill to critically apply these models in a variety of contexts associated with the presence of exogenous shocks, with short or medium-long run perspective, and with the structural features of the economy as the degree of openess to foreing trade. Students will be also able to use these models in the study of problems in fields other than macroeconomics, specifically finance, insurance and demografy.
Course contents
INTRODUCTION TO MACROECONOMICS (Boitani, chap. 1 e 2; Blanchard edition 2009, only chap. 27; and Blanchard any of the last three editions)

The Story of Macroeconomics

National accounting

THE SHORT RUN

The Goods Market

Financial Markets

Goods and Financial Markets: The IS-LM Model

THE MEDIUM RUN

The Labor Market

Putting All Markets Together. The AS-AD Model.

The Natural Rate of Unemployment and The Phillips Curve

Inflation, Activity, and Nominal Money Growth

THE LONG RUN

The Facts of Growth

Saving, Capital Accumulation, and Output

Technological Progress and Growth

Technological Progress. The Short, the Medium, and the Long Run.

EXTENSIONS

EXPECTATIONS

Expectations: The Basic Tools

Financial Markets and Expectations

Expectations, Consumption, and Investment

Expectations, Output, and Policy

THE OPEN ECONOMY

Openness in Goods and Financial Markets

The Goods Market in an Open Economy

Output, the Interest Rate, and the Exchange Rate

Exchange Rate Regimes

PATHOLOGIES

High public debt
Teaching methods
Considering the high number of students, the class offers frontal lectures if this is allowed by the health situation; otherwise lectures/tutorials will take place only partly in presence, to allow anyway all the students to benefit the lectures online.

Lectures will take place trying, whenever possible, to listen to students’ comments on the subjects matter of the course, as well as their answers to questions posed from both students and the instructor. Lectures will tend to finish with discussing some exercises proposed in the previous lectures. Moreover, each week tutorials will be offered to complement the frontal lectures. These tutorials will discuss further exercises and problems posted one week in advance on KIRO. It is on schedule also a tutorial expressly tailored for working students.
Reccomended or required readings
Boitani, A., Macroeconomia, Il Mulino, 2008. Capitoli: 1 e 2.

Blanchard, O., Amighini, A., Giavazzi, F., Macroeconomia: una prospettiva europea, Il Mulino, 2011.
Capitoli: 3 – 21, or one of the last two editions.

Capitolo 27 dell'Edizione del 2009 del manuale di O.Blanchard, Macroeconomia.
Assessment methods
Further information
Sustainable development goals - Agenda 2030