08795 - Macroeconomics

Course Unit Page

Academic Year 2018/2019

Learning outcomes

At the end of the module, students will be able to understand and discuss crucial topics and methods in the field of macroeconomics, such as for instance the general macroeconomic equilibrium in open and closed economies.

Course contents

This is a preliminary course of macroeconomic theory. Some of the most important macroeconomic events are unfolding before our eyes. We have recently been witnesses of one of the most serious financial and economic crisis. The goal of the module is to provide students with the most important tools needed to understand these and other crucial macroeconomic events. Students will learn to define and measure the most important macroeconomic variables such as for instance GDP, inflation and unemployment, to understand the meaning and the effects of fiscal and monetary policies, to discuss about the dramatic economic differences between countries and their causes.

 

Detailed Content:

Market of Goods and Services (GDP composition, Demand of Goods and Services, Equilibrium in the market)

Financial Markets (Demand and Supply of Money, Interest Rate of Equilibrium)

Interaction between the two markets: the IS-LM model (Definition of both the IS and LM curves, simultaneous equilibrium in both markets)

Labor Market (Unemployment and equilibrium wages)

Long Run Growth (Physical and Human Capital, Institutions and Culture)

IS-LM in an Open Economy (Financial and Goods Markets in an open Economy, fixed and flexible exchange rates)

 

 

 

Readings/Bibliography

O. Blanchard, A. Amighini, F. Giavazzi, Macroeconomia: una prospettiva europea, Il Mulino (2016).

Teaching methods

Lectures and Tutorials

Assessment methods

Written examination

Teaching tools

Lecture Slides

Office hours

See the website of Paolo Masella