B1933 - Macroeconomic Policy

Learning outcomes

The aim of the course is to provide a systematic introduction to current macroeconomic issues for students of International Studies. The course is designed to provide students with concepts, methods, data, and models that can be used to analyze key macroeconomic issues such as the determination of output, GDP growth, income distribution, unemployment, inflation, recession, trade balance, public debt. A special focus is on understanding and debating the appropriateness of fiscal and monetary policies. In understanding and interpreting the economic models, only basic analytical tools are used. 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.

Course contents

Introduction

Data and models

GDP

Classic theory: the economy in the long run

The long run

Income production, and expenditure

Equilibrium in the goods market and in the financial market

The monetary system

Inflation

Unemployment

Macroeconomics in the short run and economic policy

Business cycle theory: the economy in the short run

Introduction to short run fluctuations: AD-SRAS-LRAS model

Economic policy, shocks, IS-LM and AD

Aggregate supply and the Phillips curve

Readings/Bibliography

Gregory Mankiw, Macroeconomics, 12° Edition

Lecture notes at the Virtuale online platform

Teaching methods

Frontal lectures, exercises

Assessment methods

Three mid-term exams (all above the bar) or one total final exam. All exams are written.

The maximum possible score is 30 cum laude. The grade is graduated as follows:

<18 failed

18-23 sufficient

24-27 good

28-30 very good

30 cum laude excellent

Teaching tools

Slide and other materials

Office hours

See the website of Guglielmo Barone