Teaching code

4S00242

Academic staff

Riccardo Fiorentini, Luigi Capoani

Coordinator

Riccardo Fiorentini

Credits

9

Also offered in courses:

• Macroeconomics of the course Bachelor's degree in Business Innovation and Economics

Language

Italian

Scientific Disciplinary Sector (SSD)

SECS-P/01 - ECONOMICS

Period

Secondo semestre (lauree) dal Feb 20, 2023 al May 31, 2023.

Lessons timetable Moodle Seminars 0

Learning objectives

The course aims at introducing students to the fundamental topics of macroeconomics. This discipline deals with the aggregate functioning of economic systems determined by the collective behaviour of consumers and firms, by the state intervention on the economy and by the international relations with the rest of the world. The course provides students also with a knowledgeable understanding of the scientific language and methodology adopted by macroeconomics. Its theory is made up of mathematical tools and models which formalizes domestic and international mechanisms behind the functioning of aggregate markets of goods, money and labour, since their interaction determines the level of national income, employment, and prices.
The course shall also deal with the new evolving international macroeconomic scenarios and the impact of innovation and technological progress on the long run economic growth of countries.

Speech by invited academic and business experts shall supplement the regular lectures and upon completion of the course, students will be able to make use of such analytical tools to understand and interpret the factors steering the evolution of economic systems at aggregate national, international and European level and to evaluate the macroeconomic effects of Central Bank and fiscal policy interventions.

Prerequisites and basic notions

Knowledge of the basics of linear algebra: solution of linear equations and systems of linear equations; graphical representation of linear and hyperbolic functions

Program

opics of the course (taught in Italian language) are:

1. Survey of the main schools of economic thought .
2. National accounting.
3. Aggregate demand and the income multiplier.
4. The IS-LM model in a closed economy
5. Consumption, investment and government expenditure
6. Aggregate demand and supply.
7. Inflation and unemployment.
8. Macroeconomics of the European Union
8. Open economy macroeconomics.


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) International macroeconomic models: interdependence, constraints and new trends of the World economy

Bibliography

Didactic methods

Teaching method of the course is classroom lesson in which the topics of macroeconomic theory will be developed. . Classroom exercises and expert testimonials will be added to the lectures. The University e-learning platform will be used to make the materials used in the exercises and other readings useful for understanding the subject available to students.

Textbooks are: G. TONDINI, Training and distribution of wealth in the different schools of thought, Aracne Roma, 2006.
DORNBUSCH, FISCHER, STARTZ, CANULLO, PETTENATI, Macroeconomics, McGraw-Hill Higher Education Italy, Milan, 2020, 12th ed. Chapters: 1,2,4,5,6,7,8 (except appendix), 9 (paragraph 9.1 only), 10,13,15.

Learning assessment procedures

The final assessment test consists of a written exam with open questions on the macroeconomic theories explained in the course. Students will be able to carry out an intermediate test on the program of the course explained in the first five weeks of lessons. Students who pass the intermediate test will be able to complete the exam on the rest of the program in the first session of the summer session.

Evaluation criteria

In the exam, the student will have to demonstrate the mastery of the logical reasoning of macroeconomics and the ability to use the graphic and mathematical formalizations of the main short, medium and long term macroeconomic models. The final grade will take into account the accuracy and completeness of the answers given to the exam questions.

Criteria for the composition of the final grade

The final grade will be given by the sum of the partial marks obtained by the student on each question. In the case of participation in the intermediate tests, the final mark will be given by the average of the marks obtained in the two parts.

Exam language

Italiano