- Oggetto:
- Oggetto:
Macroeconomics - Stream B
- Oggetto:
Macroeconomics - Stream B
- Oggetto:
Academic year 2019/2020
- Course ID
- MAN0269
- Teaching staff
- Teodoro Togati (Lecturer)
Alessandro Stanchi (Tutor) - Year
- 2nd year
- Type
- Distinctive
- Credits/Recognition
- 9
- Course disciplinary sector (SSD)
- SECS-P/01 - economia politica
- Delivery
- Formal authority
- Language
- English
- Attendance
- Obligatory
- Type of examination
- Written
- Oggetto:
Sommario del corso
- Oggetto:
Course objectives
Endow students with the basic instruments to understand: the macroeconomic environment; the interconnections between economic variables and relationships (such as the consumption function); the tradeoff between different uses of resources; the tendency towards market equilibria which can be very unsatisfactory from a social point of view (such as the notion of equilibrium unemployment); the complexity of economic adjustments and the difference between their action in the short, medium and long run. Finally, to understand the role of macroeconomic policies, especially the fiscal and monetary policies.
- Oggetto:
Results of learning outcomes
I expect that students can at least read economic news and understand economic debates and policies. And that they can make use of the notions they have learnt in their future activity.
- Oggetto:
Course delivery
Lectures and exercises
- Oggetto:
Learning assessment methods
Due to the emergency situation, In the next exam sessions (summer and fall) students will take the exam in ORAL online form (via WEBEX).
- Oggetto:
Program
What is the macroeconomics and why it is useful
- Output growth, unemployment and inflation
- Business cycles and Economic growth
- Aggregate demands, aggregate supply and business cycles
- Aggregate demand
- The goods market (IS curve) and the money market (LM curve)
iii. Equilibrium and adjustment mechanisms
- Aggregate supply
- Supply side in an imperfectly competitive model
- Aggregate demand and aggregate supply
- Inflation, unemployment and monetary rules
- Inflation and the Phillips curve
- Monetary rules and the three equation IS-LM-MR model
iii. Inflation and the medium run equilibrium
- Labour market and supply side policies
- Supply side structures, policies and shocks
- Factors that shift the WS and PS curve
iii. Unions, wage setting arrangements and the equilibrium unemployment
- The Beveridge approach to unemployment
- Monetary policy
- Inflation, disinflation and deflation
- Monetary policy paradigms
iii. Credibility, time consistency and rules versus discretion in monetary policy
- The automatic stabilizers
- Discretionary fiscal policy
iii. Deficits and debt
- Monetizing the debt: seignorage and hyperinflation
- Basic intertemporal choice models: the life cycle and permanent income hypotheses
- Investment in the theory of the firm
- Growth and growth rates
- The Solow-Swann model
iii. Solow growth accounting
- Technological progress in the S-S model
- Economic convergence
Fiscal policy
Consumption and investment
Exogenous growth theory
Suggested readings and bibliography
- Oggetto:
Blanchard, Amighini and Giavazzi, Macroeconomics: A European Perspective, Pearson 2014.
- Oggetto:
Note
Dear Students,
due to the emergency situation, the next exam sessions (summer and fall) allow students to take the exam in oral online form (via WEBEX).
- Oggetto: