Basic concepts of macroeconomics. The short run: the goods market, the financial markets and the economic policy. The medium run: the labour market, inflation and unemployment. Pathologies of economic systems.
Blanchard, Amighini, Giavazzi (2020), Macroeconomia: una prospettiva europea, Nona edizione, Il Mulino.
Chapters 1-9, 21- 23. Appendices 1 and 2 at the end of the volume are included.
Exercise Book: D.Findlay (2021), Esercizi di Macroeconomia,Guida allo studio del testo di Olivier Blanchard, Il Mulino.
The exercise book is essential to prepare the written exam.
Learning Objectives - Last names J-Z
Students achieve a basic knowledge of how the economy works and the effects of economic policies. The analysis is conducted with analytical models and real-world examples.
Prerequisites - Last names J-Z
Elementary algebra
Teaching Methods - Last names J-Z
Frontal lessons and use of the e-learning platform for weekly tests, handouts and additional materials.
Further information - Last names J-Z
Foreign students are allowed to use the English version of the book by
Olivier Blanchard, Macroeconomics, Sixth Edition, Pearson Education, Inc.
Exams are in Italian.
Ask the teacher for the key to access the e-learning page of the course.
Type of Assessment - Last names J-Z
Written examination (in Italian).
The exam consists in a test with open questions/exercises (6 questions out of 8) in 2 hours.
Course program - Last names J-Z
First module
National accounting and main macroeconomic variables. Economy in the short-run: the goods and the financial markets. Fiscal and monetary policies and their short-run effects. The medium run: the labour market, unemployment and wages. The AD-AS model. The Phillips curve.
Second module
The economy in the long run: economic growth. Pathologies: the recent economic crisis, depressions and slumps, hyperinflation, high public debt. The role of economic policies.