Learning objectives
Knowledge and understanding The student learns how economic systems work and how they evolve across time. The aim is to provide the tools required to analyze and understand: •The determinants of growth and decline of the main macroeconomic variables. •The way these variables interact within an economy •The effects of international trade on the economy •The way the government and the central bank can affect the main macroeconomic variables to pursue the aim of increasing economic welfare • History and functioning of Euro. Applying knowledge and understanding • Obtaining the required tools to describe the equilibrium of simple macroeconomic models. • Obtaining the required tools to understand and elaborate the main economic statistics. • Obtaining the required tools to assess the impact of economic policies in the short, in the medium and in the long run Making judgements • Developing the necessary skills to assess the results of macroeconomic studies and of economic policies Communication skills • Developing the necessary skills to explain critically the results of economic studies and the scenarios described by economic statistics both to expert and non-expert people in the field of economics Learning ability • Developing the necessary skills to explain briefly complex issues by means of charts and analytical formulae.
Prerequisites
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Course unit content
The Macroeconomics course provides a rigorous and critical description of an aggregate economic system and it focuses on the topics listed below. 1) Short run equilibrium 1a)Goods Market 1b) Money Market 1c)IS-LM model 2) Economic Policy in the short run 3) Medium run equilibrium 3a) Labour market 3b) AD-AS mode 3c) Phillips curve 4) Long run equilbrium. Solow model 5) Open economy 6) Thematic issues
Full programme
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Bibliography
• • O. Blanchard, Macroeconomia Una prospettiva europea, Il Mulino, edition 2016, chapters 2,3,4,5,7,8,10,11,17,18. • O. Blanchard, Macroeconomia Una prospettiva europea, Il Mulino, 2014, chapter 8. • M. Menegatti, Applicazioni di macroeconomia second edition, Giappichelli, 2018.
Teaching methods
During the course the basic notions about macroeconomics are provided and the main theories which describe the functioning of economic system are discussed by means of lectures. These are flanked by tutorials where numerical examples are proposed to the students which represent a simplified description of the main theoretical models, with the aim to give the students the opportunity to solve some of the typical problem in macroeconomics such as the determination of the equilibrium of an economy and the definitions of the effects of economic policies on it. Classes are held with different modalities; some are held online in live streaming, others are recorded videolessons. Written exam held on the Elly portal. The exams is composed of two sections including multiple choice answers. In the first section which includes 15 questions student knowledge and the ability to properly use technical idioms are verified. The second part
Assessment methods and criteria
During the course the basic notions about macroeconomics are provided and the main theories which describe the functioning of economic system are discussed by means of lectures. These are flanked by tutorials where numerical examples are proposed to the students which represent a simplified description of the main theoretical models, with the aim to give the students the opportunity to solve some of the typical problem in macroeconomics such as the determination of the equilibrium of an economy and the definitions of the effects of economic policies on it. Classes are held with different modalities; some are held online in live streaming, others are recorded videolessons. Written exam held on the Elly portal. The exams is composed of two sections including multiple choice answers. In the first section which includes 15 questions student knowledge and the ability to properly use technical idioms are verified. The second part which includes a numerical exercise, tests student autnomous judgement and comprehension skills in addition to the ability in applying the technical notions learned during the course. Each part determines 1/2 of the final grade. The exam is graded on a scale 0-30. A laude is given when the exam attains the maximum score in each section of the exam. The exam is open book and its time is 60 minutes. It is possible to take the exam in two partial tests which are held during the course with the same modalities described above. Each students receives his/her grade by email from the Segreteria Studenti within the two weeks following the exam. The on line registration for the exam is mandatory.
Other information
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