08795 - Macroeconomics (A-E)

Learning outcomes

The course is an introduction to the study of macroeconomics.

It covers the main issues, methods, data, concepts and models. Students will be able and motivated to follow and understand the current debates on macroeconomic issues, as they are reported by the qualified press and media, with a specific focus on the roles and limits of fiscal and monetary policies in open economies (and also within the EMU).

Students will also be prepared to follow more advanced courses on macroeconomic analysis and policies, should they want to do so in their graduate studies.

Course contents

The course is organized with a part of lectures taught online on MS TEAMS (30 hours) and another taught in presence (30 hours). The number of students allowed in class is determined on the basis of class capacity and by the health and safety provisions that deal with the pandemic emergency. In case more students want to attend classes in presence than permitted by the rules, a system of shifts will be organized so to allow students to participate. Regardless of the health-related conditions and the specific organization of the course, students will be able to follow the lessons of the entire course remotely on MS TEAMS.

Students are required to carefully read the assigned material before the session and - in the case of seminars - active participation through presentations of existing scholarship and case studies will also be expected.

Introduction and long run issues

• Introduction
• Data and national Accounts
  
• Graphs and Functions
• Growth
  
• Labour Markets
  
• Money Prices and Exchange Rates in the Long Run.

B. Macroeconomic equilibrium from the short to the long run

• Budget constraints
  
• Financial assets and Interest rates
• Consumption and Investments
• Money and Interest Rates
• Monetary Policy: goals and tools
• Equilibrium in the Short Run - the IS-LM model
  
• Capital Flows and Equilibrium- the Mundell - Fleming model
  
• Supply, Unemployment, Inflation
  
• Aggregate Demand and Supply
  

C. Macro policies and institutions

• Demand Policies
• Fiscal Policies and Government Debts
• Supply Policies.

Readings/Bibliography

The class textbook is:

Mankiw-Taylor, "Macroeconomia" sixth Italian edition, Zanichelli, 2015.

Another useful book is:

M. Burda e C. Wyplosz, "Macroeconomia. Un'analisi europea". Egea, 2019 (3rd edition)

Teaching methods

Frontal lessons and group discussions. Student's active class participation is encouraged.

This class will be offered in blended learning. The online part will be offered via the Microsoft Teams platform. Students are strongly advised to use a wired connection, because it is more stable than a WiFi one.

Assessment methods

For students attending lectures:

• All exams are written.
• Each exam includes multiple choice questions, open-ended questions and a section with graphical or algebraic exercises.
• The exam questions will be written in Italian. It is possible to answer in English.
• Students who take the exams remotely must have installed ZOOM on their PC and must connect to the exam on EOL (https://eol.unibo.it/).

For students not attending lectures:

• A single written exam, on the whole syllabus, lasting about two hours.

For all students:

• For additional info, see the course description in Italian.

Teaching tools

Blackboard, chalk, and slides.

Office hours

See the website of Luciano Messori