08795 - Macroeconomics (O-Z)

Learning outcomes

By the end of the course, the student will:

- possess the basic analytical tools for understanding the behavior of the economic system as a whole; 

- be able to apply theoretical models to the solution of macroeconomic problems;

- understand the relevant aspects of the current political debate;

- be able to evaluate the benefits and costs of economic policy.

Course contents

Real market

GDP

Demand for goods

Equilibrium production

Financial markets

The demand for money

Interest rate

Relationship between the two markets: the IS-LM model The market for good and the IS curve

Financial markets and the LM curve

The IS-LM model: equilibrium

The IS-LM model in open economics

The markets for goods in an open economy

Financial markets in an open economy

The IS curve in an open economy

Equilibrium in the financial markets

The job market

The determination of wages

Pricing

The natural unemployment rate

The AD-AS model

Aggregate supply

Aggregate demand

The equilibrium in the short and medium run

The effects of monetary and fiscal policy

The natural unemployment rate and the Phillips curve

Inflation, expected inflation and unemployment

The Phillips curve

Inflation, production and money growth

Growth: main facts

Savings, capital accumulation and production

Real and human capital

Growth and technical progress

Technological progress and growth rate

The determinants of technological progress

European sovereign debt crisis

Readings/Bibliography

Olivier J. Blanchard, Alessia Amighini, Francesco Giavazzi. 2016. Macroeconomia. Una prospettiva europea. Bologna: Il Mulino.

Teaching methods

Lectures and exercises.

Assessment methods

Written exam.

Teaching tools

https://sites.google.com/site/carmineguerrieroshomepage/home/teaching/Macro---O-Z

Links to further information

https://sites.google.com/site/carmineguerrieroshomepage/home/teaching/Macro---O-Z

Office hours

See the website of Carmine Guerriero

See the website of Emanuela Randon