- Docente: Paolo Luciano Adalberto Manasse
- Credits: 10
- SSD: SECS-P/01
- Language: Italian
- Teaching Mode: In-person learning (entirely or partially)
- Campus: Bologna
- Corso: Second cycle degree programme (LM) in Economics, Industry and Financial Institutions (cod. 8044)
Learning outcomes
The course aims at familiarizing the student with the most
important macroeconomic models with an effort to apply them
to real world problems. At the end of the course the student is
expected to: be familiar with the standard growth models amd
their ability to account for exixting differences , in time and
across countries, in levels and growth rates of percapita incomes;
be familiar with endogenouse growth models; the student is also
expected to have studied the theory of the main components of
aggregate demand, consumption and investement, as well as the
microeconomic foundations of price stickiness. Finally the
student is expected to be able to analyze problems concerning
unemployment and the labour market.
Course contents
The course aims at studying a number of the most important
macroeconomic models with a particular emphasis on "real world"
issues. The course is made of three parts. The first one introduces
the main economic models for growth , the Solow model, the Ramsey
model and the Overlapping Generation model. The lectures focus on
the ability of the theories to account for the observed differences
across countries and time in level and growth rated of per capita
gdp.Endogenous growth models are briefly introduced, in particular
the "R&D" model of Romer and the "learning by doing " model.
The second part of the course is devoted to the theory of aggegrate
demand's main components: consumption (permanent income) and
investment (tobin's Q). The third section discusses the
microeconomic foundation of price stickiness, and the thoery of
unemployment. We consider the Lucas "islands" model, as well
as keynesian models with imperfect competition and staggering
contracts. Efficiency wages and search theries of the labour market
are also discussed.
Readings/Bibliography
Basic Textbooks:
David Romer, (R) Advanced Macroeconomics, Mc Graw-Hill, 2006 3rd edition),
Robert Barro, Xavier Sala-i-Martin, (BS), Economic Growth MIT Press
Solow: R chap1, escluded sect. 1.8
Ramsey & OLG: R, chap 2
Endogenous Growth BS, AK model (Cap 4), Human Capital (cap 4.2), Learning by doing (4.3.1-4.3.5, 4.5.1, e 4.6)
Consumption: R chap 7
Investment: R chap 8
Noinal Rigidities: R chap 6 (6.1-6.4, 6.9)
Unemployment: R chap 9 (9.1-9.5 e 9.8-9.9 )
Assessment methods
Written exam , 3 questions of which at least on exercise, time: 1 h
and 30m
Links to further information
http://www2.dse.unibo.it/manasse/index.htm
Office hours
See the website of Paolo Luciano Adalberto Manasse