MACROECONOMICS

Degree course: 
Academic year when starting the degree: 
2013/2014
Year: 
2
Academic year in which the course will be held: 
2014/2015
Course type: 
Compulsory subjects, characteristic of the class
Credits: 
12
Period: 
Second semester
Standard lectures hours: 
80
Detail of lecture’s hours: 
Lesson (80 hours)
Requirements: 

Have passed the examinations in Microeconomics and Economic History

Assessment: 
Voto Finale

The course has two main objectives: i) to show that the relationships between economic variables that can be applied to an economic system as a whole do not arise simply from the aggregation of the relations which concern a single economic agent; ii) to describe the evolution of the macroeconomic theory and the characteristics of the different economic schools.

1) Introduction
- The object of macroeconomics
- The subprime mortgage crisis and the economic crisis
- The macroeconomic theories: the neoclassical theory and the keynesian theory.

2) National Income

The Neoclassical Macroeconomics

3) The labor market

4) The goods market and the credit market.

5) The quantity theory of money

The Keynesian macroeconomics

6) The principle of effective demand

7) The IS-LM model

8) The IS-LM model for an open economy

9) The keynesian explanation of inflation: the Phillips curve

The monetarist counter-revolution

10) Friedman’s critique of the Phillips curve

11) The long run and the phenomenon of growth

The contemporary crisis

12) The crisis and the macroeconomic theory.

Mode of Delivery: lectures

- O. BLANCHARD;, A. AMIGHINI, F. GIAVAZZI: Macroeconomia. Una prospettiva Europea, Il Mulino, edizione 2010 (BL)
- T. COZZI, S. ZAMAGNI: Economia Politica, Il Mulino, terza edizione, 1994, pp. 343-367 (copie disponibili in biblioteca e nelle librerie universitarie) (CZ)

Assessment: the student will have to take a written mid-term test and a final written exam.

Professors