Quantitative Models for Economic Analyses - MACROECONOMIA (2009/2010)

Course code
4S02761
Name of lecturer
Gianpaolo Mariutti
Number of ECTS credits allocated
4
Academic sector
SECS-P/01 - ECONOMICS
Language of instruction
Italian
Location
VERONA
Period
1st Semester dal Oct 1, 2009 al Jan 31, 2010.

To show the organization of the course that includes this module, follow this link * Course organization

Lesson timetable

Learning outcomes

GNP, or Gross National Product, aggregate consumption, investment, public expenditure, general level of prices, and its rate of change (inflation), as well as employment, and the rate of unemployment are all macroeconomic variables. The course aims to investigate the determinants of these variables, and their role in making an economy work.
Three markets are involved in this investigation.
First, the market of goods. We shall study it from both the demand and the supply side
Second, the monetary and financial market. We shall pay particular attention to the forces behind the determination of the rate of interest.
Third, the labour market. We shall focus on the determination of the level of wages and on the relationship between wages and general level of prices.
The time frame of the investigation will be both the short run as well as the long run.
The main macroeconomic theories of these three markets will be presented in descriptive, graphical and mathematical language. At the beginning the student will be also exposed to some methodological issues (in particular on the difference between social and natural sciences) and to a brief history of macroeconomics.

Syllabus

1. Macroeconomics and the History of Economic Thought
2. National Accounts
3. Further empirical evidence
4. The market of goods
5. The financial and monetary market
6. The IS-LM model
7. Economic growth
8. The accumulation of capital and the technical progress
9. The labour market
10. Unemployment and inflation: the Phillips curve
11. The AD-AS equilibrium model
12. The role of expectations (in short)
13. The open economy (in short)
14. Macroeconomics and Economic Policy

References:
Blanchard, Olivier, Macroeconomia, Il Mulino, 2009. Part II, III, IV and X completely. Part V e VI in brief. Students that follow the course will get access to notes, exercises and further reading list in preparation of the exam.
Findlay D.W. Esercizi di Macroeconomia. Guida allo studio del testo di Olivier Blanchard, Il Mulino, 2009.

Assessment methods and criteria

Final examination: Written exam with multiple-choice test and numerical exercises. It will be followed by a short oral examination.