KNOWLEDGE: Acquisition of the main concepts, methods and models of economic theory for the study of functioning of national or regional systems, the role of financial markets, the interdependence of aggregate demand and supply, the relations between real growth, inflation, and income distribution.
The ability to interpret, evaluate, and criticize information on macroeconomic facts, both at a local and global level, the rationale for economic policy intervention, both fiscal and monetary, current trends, and the foundations of short/medium term forecasts.
CAPACITIES ACQUIRED AT THE END OF THE COURSE:
The ability to elaborate an argument on an issue concerning macroeconomics or economic policies in the knowledge of foundational concepts and basic analytical techniques.
Prerequisites - Last name/s P-Z
The course requires knowledge of basic microeconomics and general mathematics (functions and calculus)
Teaching Methods - Last name/s F-O
72 hours of frontal lectures
Teaching Methods - Last name/s P-Z
72 hours of frontal lectures.
Further information - Last name/s P-Z
Attendance to lectures is recommended, but not mandatory.
Type of Assessment - Last name/s F-O
The exam is both written and oral.
Type of Assessment - Last name/s P-Z
A final written test to evaluated out of 30 points.
An oral test is mandatory to conferm a score abovo 26 out of 30. Otherwise, the oral test is optional.
Course program - Last name/s P-Z
Preliminary notions; data; GIP; circular flow of income and expenditure; flows and funds in economics.
The Income-Expense Model: the notion of aggregate demand, and equilibrium on the goods market.
The Income-Expense Model: adjustament and variations of marginal propensity to consumption.
The Income-Expense Model: taxes, budget balance multiplier, and the paradox of parsimony.
ISLM Model: Investmente, goods market and IS curve.
ISLM Model: Money market and LM curve.
ISLM Model: macroeconomic equilibrium.
ISLM Model: variations of G and M
AD-AS Model: determination of aggregate demand (AD)
AD-AS Model: determination of aggregate supply (AS)
The neoclassical case of AD-AS model
Wages and employment
The AD-AS dinamic model: demand and supply shocks
Balance of payments and exchange markets
IS in an open economy, LM in an open economy, BB line
Fiscal and monetary policies under flexible and fixed exchange rates
Keynesian consumption function: intertemporal choice and life cycle
Model of flexible accelerator
Money, monetary equivalents, demand for money
The model of stocks