Teaching code

4S00242

Teacher

Gianpaolo Mariutti

Coordinator

Gianpaolo Mariutti

Credits

6

Language

Italian

Scientific Disciplinary Sector (SSD)

SECS-P/01 - ECONOMICS

Period

Semester 2 dal Mar 4, 2024 al Jun 14, 2024.

Courses Single

Authorized

Lessons timetable Moodle Seminars 0

Learning objectives

The course aims to investigate the functioning of an economy, and the role played in it by the main aggregate variables: GDP, added values, incomes, consumption, investments, taxes and public spending, labor and employment, prices, money supply and interest rate. These variables will be studied with the use of formalized theories, enriched by an empirical analysis on World Bank data. They refer to three markets. First, the goods market, both on the demand and on the supply side. Second, the market for money and financial assets, with particular attention to the variables that determine the interest rate. Third, the labor market, with the importance of the unemployment rate and the dynamics played by prices in the vicinity of full employment. The analysis will be conducted both in terms of short and long term, looking for the interdependencies and the links between the various markets described above, and on how the state can correct, through its policies, their limits and failures. I The main theories will be presented using a mix of descriptive, graphic and mathematical language. At the end of the lessons, the student will have to demonstrate to be able to use the analytical tools of the macroeconomics to understand and interpret the phenomena that regulate the evolution of economic systems at national aggregate level and to evaluate the macroeconomic effects of the intervention of the Central Bank and of the fiscal policy authorities .

Prerequisites and basic notions

No previous knowledge of economic theory is needed. The required mathematics focuses on linear equations and Cartesian representations, with possible basic use of derivatives, exponentials, geometric series, linear programming.

Program

The program carried out is organized as follows:
1. Natural Sciences and Social Sciences: Macroeconomics in the History of Economic Thought
2. The National Accounts and the empirical macroeconomic analysis
3. The Goods Market
4. The Money-Financial Market
5. The IS-LM Model
6. Macroeconomics and Economic Policy
7. Economic growth
8. Economic growth and capitalist instability
Recommended textbooks (from the most complete to the most concise):
1. Blanchard O., Amighini A., Giavazzi F., Macroeconomia, Il Mulino, 2020, or earlier editions.
2. Dornbusch, R., Fischer S., Startz R. et al., Macroeconomia, McGraw Hill, 2020, or earlier editions.
3. Blanchard O., Amighini A., Giavazzi F., Scoprire la macroeconomia, Il Mulino, 2020, or earlier editions: an abridged version of (1).
Workbook for textbooks (1) and (3):
Findlay D.W. Esercizi di Macroeconomia. Guida allo studio del testo di Olivier Blanchard, et al. Il Mulino, 2021.

Bibliography

Didactic methods

In addition to the traditional lectures, attending students will be involved in using the official macroeconomic statistics of the main countries. Weekly tests (quizzes and exercises) will also be available on the course website to verify the degree of learning.

Learning assessment procedures

Written exam served as a test, with quizzes and exercises, optional oral examination, and supplementary bonuses for those students who have completed the learning activities and projects assigned during the course.

Evaluation criteria

The examination tends to verify the degree of knowledge of economic logic, both theoretically and applied with exercises. The latter, in particular, aim to measure the ability of "problem-solving" on macroeconomic issues rather than measure pure technical-mathematical skills. The degree of participation in the activities during the course will also be taken into account in the evaluation.

Criteria for the composition of the final grade

Written exam: 50% weight in theoretical tests, and 50% in numerical exercises. The oral exam is optional, if the written exam is sufficient, and can integrate the latter's grade. Bonuses can add up to 3 points to the final grade.

Exam language

Italiano