88014 - Macroeconomics (A-L)

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

A. Introduction

• Introduction
• Data and national Accounts (2 lectures)
• Graphs and Functions

B. Long run themes

• Growth (2 lect.)
• Labour Markets( 2 lect.)
• Money Prices and Exchange Rates in the Long Run.

C. The macro model: building blocks

• Budget constraints (2 lect.)
• Financial assets and Interest rates
• Consumption and Investments
• Money and Interest Rates
• Institutions and goals of monetary Policy in the EA

D. Equilibrium: From the short to the long run

• A closed economy: equilibrium in the short run 
• Short run equilibrium in the open economy and in the EA(2 lect.)
• Supply, Unemployment, Inflation (2 lect.)
• Aggregate Demand and Supply (2 lect.)

E. Macro policies and institutions

• Demand Policies
• Fiscal Policies, Government Debts and Sustainability
• Supply Policies and Policies for the Green Transition

F. (Seminar)

• Macroeconomic policies since the Pandemic: Recession, Recovery Fund, National Plan for Recovery and Resilience.

Readings/Bibliography

Files with lecture notes (slides) and exercises are downloadable from the course homepage: http://macroeconomia-sid-forli.weebly.com/

The recommended textbook is M. Burda e C. Wyplosz, "Macroeconomia. Un'analisi europea". Egea, 2019 (3rd ed.)

Teaching methods

There will be 25 two-hour lectures, and 8 exercise classes (16 hrs.), plus a final seminar (2 classes).  

• Lectures will be delivered in presence. In case of a continuation of the pandemic and the related safety restrictions, lectures will be switched online, and classes will meet on Teams.

The final seminar will examine the current macro scenarios for Italy and the EU, and discuss macroeconomic policies adopted since the Pandemic (EU Recovery Fund and the National Plan for Recovery and Resilienze - PNRR).

All the lectures and the exercise classes are supported by presentations (.pptx or .pdf).

Students are requested to download and study the relevant presentation files before each lecture or exercise class. Files may be downloaded from http://macroeconomia-sid-forli.weebly.com/ . A password will be given during the first lecture.

Assessment methods

For students attending lectures:

• All exams are written. 
• Students will take three Intermediate Tests ("PROVE INTERMEDIE") during classes, and one Final Test ("PROVA FINALE"). The latter may be taken during the regular exam session (in June, July or September 2022).
• All tests will be delivered at the information lab (LABIC), through the EOL platform (https://eol.unibo.it/).
• Each test includes between 6 and 9 multiple choice questions and will last between 28 and 40 minutes. Each correct answer is valued 1 point.
  
• Answers may require the ability to interpret graphics and to solve simple algebraic exercises.
• The final mark is the sum of the marks obtained in the four exams.

For students not attending lectures:

• Students must take a single written exam ("PROVA TOTALE"), on the whole syllabus, lasting 80 minutes.
• The exam can be taken during the regular exam sessions.
  
• Each test will require to answer 18 multiple choice questions.
• Answers may require the ability to interpret graphics and to solve simple algebraic exercises.
• The exam questions will be written in Italian.
• All tests will be delivered at the information lab (LABIC), through the EOL platform (https://eol.unibo.it/).
  

For all students:

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

Teaching tools

Lectures and exercise classes are supported by PC-based presentations in .pptx or occasionally .pdf format.

These files are all downloadable from the course homepage: http://macroeconomia-sid-forli.weebly.com/

A password will be communicated during the first lecture.

Students must download and read these presentations (and possibly the related readings) before lectures.

All other information relevant to the course will be posted at the same address.

 

 

Links to further information

http://macroeconomia-sid-forli.weebly.com/

Office hours

See the website of Riccardo Rovelli