MACROECONOMICS
The formative objective for the student consists of achieving the following learning outcomes.
Knowledge and understanding.
The course aims at providing the tools of economic analysis for the understanding of the relation between fiscal and monetary policies and the performance of the economy from the point of view of both real and financial markets. The graduate must know the determinants of the main macroeconomic variables, such as level of economic activity, interest rate, unemployment rate, inflation rate, expectations and exchange rate.
Applying knowledge and understanding.
The course aims to transfer to the student the ability: i) to critically interpret economic dynamics; ii) describe the determinants of macroeconomic variables (GDP, interest rate, unemployment rate, inflation rate, expectations and exchange rate).
The course analyzes the relation between fiscal and monetary policies and the performance of the economy from the point of view of both real and financial markets. The determinants of the main macroeconomic variables will be explored, such as level of economic activity, interest rate, unemployment rate, inflation rate, expectations and exchange rate.
Module I:
Macroeconomic variables
Goods markets
Financial markets
IS-LM Model
Labour market
AD-AS model
The Phillips curve
Module II:
Economic growth: main facts
The Solow Growth model
Technological progress
Expectations: basics
Expectations and financial markets
Expectations and real markets
Open economy: basics
Real and financial markets in an open economy
Production, interest rate and exchange rate
Stagflation, inflation, public debt
Fiscal policy, Monetary policy, the European Economic and Monetary Union
BLANCHARD O., MACROECONOMIA, Il Mulino, ultima edizione
Traditional classes with tv projector
The verification of the learning outcomes will be carried out through a written and oral examination.
Knowledge and ability to understand
The verification of knowledge and comprehension skills will be carried out through a written examination.
Ability to apply knowledge and understanding
The ability to apply knowledge and understanding will be evaluated through an oral examination.
The exam consists of three groups of questions. The weight of each group is indicated in the text.
E-mail: m.delgatto@unich.it
course web page: http://docenti.unich.it/delgatto/delgatto_web/teaching/teaching.html)