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. The long run: economic growth. Pathologies of economic systems.
Blanchard, Amighini, Giavazzi (2016), Macroeconomia: una prospettiva europea, Il Mulino.
Chapters: 1-10, 11 (paragraph 3 excluded), 12, 21-24. Including Apeendices at the end of the volume.
Exercise Book: D.Findlay (2017), 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
Students will achieve a basic knowledge of how the economy works and the effects of economic policies. The analysis will be conducted with analytical models and real-world examples.
Teaching Methods
Two-hours lectures. The e-learning platform is used for handouts and additional materials.
The Moodle page is available during the second semester until September of the same year.
Further information
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
Written examination (in Italian) with essay questions and exercises.
Students should answer a total of 6 questions out of 8 (two hours time for the exam).
Course program
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.