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 scenarios for Italy and the EU and macroeconomic policy perspectives.

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 6 exercise classes, plus a final seminar.  

• The first 15 meets will take place  in a digital class on MS TEAMS.
• The last 10 meets will take place also in a "physical" class, where students are admitted up to the available (based on safety procedures) number of seats. If demand for seats exceeds availability, students will be divided into groups, and will alternate between physical and digital class.
• Students that so desire may follow all lectures remotely on MS TEAMS.
• Exercise classes will only take place remotely.

The final seminar will examine the current macro scenarios for Italy and the EU, and discuss macro policy perspectives.

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.

Assessment methods

For students attending lectures:

• All exams are written and take place online, either at the information lab (LABIC) or remotely.
• 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/).
• There will be three written (intermediate) exams plus one final exam.
• Each exam may include multiple choice questions, open-ended questions and a section with graphical or algebraic exercises.
• The final mark is the sum of the marks obtained in the four exams.
• The exam questions will be written in Italian. It is possible to answer in English.

For students not attending lectures:

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

For all students:

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

Teaching tools

Lectures and exeercise classes are supported by PC-based presentations in .pptx or occasionally .ptf format, downloadable from the course homepage: http://macroeconomia-sid-forli.weebly.com/

A password will be communicated during the first lecture.

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

During classes on MS TEAMS, students are expected to interact with the teacher (and with each other) via the "Chat" line.

 

Links to further information

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

Office hours

See the website of Riccardo Rovelli