The teaching is organized as follows:

Learning outcomes

The course aims at providing appropriate training on the fundamentals of macroeconomic issues such as: the evolution of aggregate production, fluctuations in income and employment and the role of stabilization policies, the causes of inflation and the determinants of economic growth. Particular attention will be given to issues of greatest relevance as the evolution of public debt and the determinants of aggregate consumption.
The course is divided into three parts:
(i) models for the determination of output and employment in the short term, even in an open economy;
(ii) medium-term models for the analysis of inflation and the cyclic changes in production;
(iii) the long run models for the study of economic growth and its determinants.
The teaching methods consist of lectures on macroeconomic theory and classes on numerical examples. The e-learning platform of the University will be used to make available to students materials used in the tutorials and further useful readings to the understand the subject.

Program

1. The main schools of economic thought.
2. Elements of the national accounts.
3. Aggregate demand and the income multiplier.
4. The market for goods and money: The IS-LM model.
5. Consumption, investment, government spending.
6. Aggregate supply and demand.
7. Inflation and unemployment.
8. International relations and problems of the open economy.
9. Growth and accumulation.

Textbooks

G. TONDINI, Formazione e distribuzione della ricchezza nelle diverse scuole di pensiero, Aracne Roma, 2006.

DORNBUSCH,FISCHER,STARTZ,CANULLO,PETTENATI, Macroeconomia, McGraw-Hill Higher Education Italy, Milano, 2014, 11° ed.
Chapters: 1,2,3,4,5,6,7,8 (except paragraph.8.5 and appendix),10,13,16 (paragraphs 16.1,16.2, only),17 (paragraphs.17.1,17.4,17.5,17.6,17.7 only)

Examination Methods

There will be a final written exam. No exams will be held during the course
The exam will consist of three "open" questions on the topics of macroeconomic theory developed during the course and in an exercise to be solved by numerical techniques relating to formal models covered in class. The exercises done in class will prepare the student to solve the numerical exercise. Examples with solution will be available on the e-learning platform of the course.

The exam will asses the level of knowledge and understanding of macroeconomic theory in the short, medium and long term the student has reached, the ability to understand the effects of macroeconomic policies used to solve the problems the real economies are facing and the ability to apply formal models to concrete cases.