MACROECONOMICS

Degree course: 
Corso di First cycle degree in ECONOMICS AND MANAGEMENT
Academic year when starting the degree: 
2018/2019
Year: 
3
Academic year in which the course will be held: 
2020/2021
Course type: 
Compulsory subjects, characteristic of the class
Language: 
Italian
Credits: 
12
Period: 
First Semester
Standard lectures hours: 
100
Detail of lecture’s hours: 
Lesson (80 hours), Exercise (20 hours)
Requirements: 

Basic concepts of microeconomics

Final Examination: 
Orale

Students will be evaluated through a written exam, with multiple choice questions and exercises.

There are no other ways for students to be evaluated.

Assessment: 
Voto Finale

The course is meant to be an introduction to the study of Macroeconomics. The course will provide students with the tools to understand the trend of the most relevant macroeconomic variables and the links among the different sectors of an economic system, by analysing the role of the markets and institutions which operate in such system.

**Introduction to macroeconomics: basic concepts in macroeconomics concepts, what the models and macroeconomics variables explain, national accountability, time in macroeconomics
**Macroeconomic variables and dynamics in a closed economy
•The goods market
•The financial market
•The goods market and the financial market: the system equilibrium through the model IS-LM model and the extended IS-LM model
•The labor market
•The Phillips curve, the natural unemployment rate and the inflation rate
•The construction of the IS-LM-PC model
**Macroeconomic variables and dynamics in an open economy
•The opening of the goods and financial markets and the exchange rates
•The goods market in an open economy
•Production, interest rates and exchange rates
•The monetary policy
**Economic growth, quality of life and wellbeing: new approaches and indicators
** Technological progress and growth in the short, medium and long term

Lectures and references to the chapters of the reference text. The order of the lessons and the topics may undergo changes in relation to classroom work.

Introduction: Cap 1 and 2
The goods market. Cap 3
Financial markets. Cap 4
The goods market and the financial markets: the balance of the system expressed through the IS-LM model. Cap 5
Financial markets: the extended IS-LM model. Cap.6
The labor market. Cap.7
The Phillips curve, the natural unemployment rate and inflation. Cap 8
The construction of the IS-LM-PC model. Cap.9
The opening of goods and financial markets and exchange rates. Cap.17
The open-market goods market. Cap.18
Production, interest rate and exchange rate. Cap.19
Monetary policy. Cap 23
Economic growth, standard of living and well-being. Cap 10
Technological progress and callenges to growth. Cap.12 and chap.13

2 lectures about:
- the role played by expectations in macroeconomics
- the European Union

Blanchard O., Amighini A., Giavazzi F.,Macroeconomia. Una prospettiva europea, Ed Il Mulino, 2020

Other readings will be proposed during the course and on the e-learning site

Convenzionale

lectures hold by the lecturer + tutorials hold by the tutor

The course is made by "face to face" lectures+ slides. During the lecture students are encouraged to interact with the lecturer through questions and comments

During the lectures students will be shown empirical examples and numerical exercizes which will allow students to understand better the tools of macroeconomics

Please note that, since the course is in part time mode, the lectures must be integrated with the reading of the chapters of the textbook and with other supplementary materials that will be uploaded gradually on the web site of the course. All materials represent part of the program of study. Please note also that many of the integrative documents present data and examples linked to the lessons issues and, therefore, have the function of facilitating the understanding of the various topics addressed from the theoretical point of view in class and on the textbook. Training materials will also be made available on the platform for individual exercise.