a) Knowledge and understanding: at the end of the course, students know: i) the main macroeconomic aggregates and their relationships, ii) the methods for making temporal and/or spatial comparisons through the index numbers; iii) the methods for studying the life conditions of a population; iv) the methods for analysing panel data.
b) Applying knowledge and understanding: at the end of the course, students can: i) place the macroeconomic aggregates in the framework of the national accounts; ii) use the index numbers to distinguish between volume and price increases; iii) derive inequality and poverty measures; iv) estimate models for panel data.
c) Making judgements: students must read the result from observed as well as estimated data and show their ability to interpret them correctly with the aim of developing independent judgments.
d) Communication skills: students must prove to know how to describe and summarise methods and results.
Students need to have passed the exam in Statistics.
Part I (approx. 12 hours): The economic system. The European System of Accounts (SEC 2010). Main aggregates of National Accounting System. GDP. Productivity measures.
Part II (approx. 16 hours): Index numbers for spatial and temporal comparisons. Elementary and aggregate index numbers. Price and quantity indexes. The main index numbers disseminated by ISTAT.
Part III (approx. 14 hours): Income distribution. Gini index and other inequality measures.
Part IV (approx. 10 hours): Analysis of consumption and income. Analysis of life conditions: poverty measures.
Part V (approx. 14 hours): Models for panel data: fixed effects and random effects models Part VI (approx. 6 hours): Beyond GDP: measuring well-being. Equitable and sustainable well-being (BES).
The following topics are covered: index numbers for spatial and temporal comparisons; economic inequality; analysis of life conditions through poverty measures; main aggregates of National Accounting; well-being; productivity; theory and applications of models for panel data.
Lectures, with some practice exercises with the personal computer using Excel and R.
- Lequiller, F. and D. Blades (2014), Understanding National Accounts: Second Edition, OECD Publishing.
- OECD (2015), In It Together: Why Less Inequality Benefits All, OECD Publishing, Paris.
- Materials provided by the teacher.
Further references will be suggested at the beginning of the course. They will include also documents available for download from Istat, Eurostat and OECD websites.
Oral examination. The oral examination is the most suitable way to verify the achievement of the learning objectives described above. Based on three broad questions on the topics covered, the exam aims to ascertain the degree of knowledge and the ability to make connections and comparisons between the different parts of the program. The evaluation is positive (at least 18/30) if you answer in a punctual, synthetic and exhaustive way to at least two questions out of three. The assessment of mastery of the lexicon of statistics applied to the study of economic phenomena also contributes to the maximum evaluation.