08795 - Macroeconomics (F-N)

Learning outcomes

Expected knowledge

The purpose of the course in Macroeconomics is to give students basic analytic tools to understand how the economy functions in aggregate.

Expected abilities:

By the end of the course the student is expected to acquire the ability:

- to apply theoretical models to the analysis of macroeconomic problems

- to understand  the fundamental aspects of current policy debates on the main macroeconomic issues (adjustment policies, external constraints, limits to growth)

- to assess and to evaluate expected benefits and costs of the main economic policy measures

- to take intermediate courses in economics (if complemented by Microeconomics)

Course contents

Prerequisites:

Microeconomics

Contents - summary:

The course in Macroeconomics introduces basic theoretical models of macroeconomics and empirical evidence supporting their explanatory ability of observed economic phenomena. It provides an overview of fundamental macroeconomic issues: the determination of national ouput and income, unemployment, inflation, interest and exchange rates, both in the short and in the long run. The effects of monetary and fiscal policies and the debate on stabilization policies in the open economy are discussed.

Contents - details

1. Introduction: the Tools of Macroeconomics and the Data of Macroeconomics

2. Short Run Economic Fluctuations

- The Goods Market: Aggregate Demand  and  Equilibrium Income

- Financial markets: Money Market Equilibrium and Interest Rates 

- Goods and Financial Markets: the IS-LM Model

- Fiscal policy

- Monetary policy

3. The Supply Side and the Medium Run

- Labor Markets, Unemployment and Aggregate Supply

- Aggregate Supply and Aggregate Demand: the AS-AD Model

-The Phillips Curve

- Inflation and Monetary Policy

4. Open Economy Macroeconomics

- Goods and Financial Markets in an Open Economy

- The Balance of Payments

- Exchange Rates, and Exchange Rates Regimes

- Exchange Rates and Macroeconomic Policy

5.  The European Economic and Monetary Union

Readings/Bibliography

Blanchard, O., Scoprire la macroeconomia, Il Mulino 2011

vol. I “Quello che non si può non sapere”,

capp. 1-10

vol. II “Un passo in più”,

capp.5-6

cap. 12, "L'unione economica e monetaria europea".

For detailed reading guides see "Teaching Materials" in this web page

Teaching methods

Lectures with the support of PC slides

Tutorials

Assessment methods

The final written examination is based on a written test which requires an answer to a set of multiple choice questions, an exercise, an open question.

Teaching tools

Lectures with the support of PC slides.

Additional teaching materials will be available on AMS Campus, through the link "Teaching Materials" in this web page.

Office hours

See the website of Anna Stagni