Good Knowledge of Macro models.
Interpretation of Data and Macro Policies
Learning Objectives - Last name/s P-Z
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 F-O
Microeconomics and Mathematics
Prerequisites - Last name/s P-Z
The course requires knowledge of basic microeconomics and general mathematics (functions and calculus)
Teaching Methods - Last name/s A-E
Classes on the blackboard and slides
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 F-O
Further information - Last name/s P-Z
Attendance to lectures is recommended, but not mandatory.
Type of Assessment - Last name/s A-E
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 A-E
Growth empirics: international evidence on growth
Growth (Solow model and endogenous growth theory up to the Romer model)
Labor supply and demand and unemployment and imperfection in the labor market
Consumption: microfoundations and effects of taxation and Ricardian Equivalence
Investment and imperfections in the credit market
International economics and trade
Monetary policy and Taylor rule
Imperfect competition in macroeconomics, Phillips curve
Real business cycle
Course program - Last name/s F-O
GDP, Inflation rate and Unemployment rate
Money and Interest rate
Course program - Last name/s P-Z
Money, monetary equivalents, demand for money
Money multiplier and monetary policy
Pre-keynesian and Keynesian Macroeconomics
Y-Z Model: the notion of aggregate demand, and equilibrium on the goods market.
Y-Z Model: adjustament and variations of marginal propensity to consumption.
Y-Z Model: taxes, budget balance multiplier, and the paradox of parsimony.
IS-LM Model: Investmente, goods market and IS curve.
IS-LM Model: Money market and LM curve.
IS-LM Model: macroeconomic equilibrium.
IS-LM Model: variations of G and M
IS-MP model: goods and money markets when the central bank fixes the interest rate, the Taylor rule, Monetary and fiscal policy
AD-AS Model: determination of aggregate demand (AD)
AD-AS Model: determination of aggregate supply (AS)
The neoclassical case of AD-AS model
Competitive and non competitive labour markets
Wages and employment
AD-AS/PS-WS model: demand and supply shocks
Balance of payments and foreign exchange markets
IS in an open economy, LM in an open economy, BB and IP lines
Fiscal and monetary policies under flexible and fixed exchange rates