The aim of the course is to provide the knowledge of the main macroeconomic variables in order to understand the interrelations linking them in the different types of market (factors, goods and services, money ...) and the objectives of the public intervention in the economy in general and. in particular, in the Italian and the European contexts.
-KNOWLEDGE AND UNDERSTANDING: students must first acquire knowledge of the main macroeconomic variables to understand the interrelations linking them in the different types of market (factors, goods and services, money ...) and the aim of public intervention in the economy.
-APPLYING KNOWLEDGE AND UNDERSTANDING: the student should demonstrate her/his ability to apply the theoretical knowledge acquired to real situations in particular in the Italian and the European contexts.
-MAKING JUDGEMENTS: the student should apply a critical approach in the study and should be able to increase autonomously her/his knowledge.
-COMUNICATION: the student must answer with correct use of economic language, in a concise and exhaustive way to the open-ended written and oral questions combining the answers (in the requested cases) with an accurate graphical analysis. Furthermore, he should be able to solve the exercises proposed in the final exam.
-LIFELONG LEARNING SKILLS: the students must have acquired the basic instruments of macroeconomics and economic policy and prove to have a good learning level to face the subsequent exams of the course.
The course requires that students have learned the basic contents of Maths and Microeconomics
I MODULE (24 hours)
Introduction to Macroeconomics. Definition and measurement of main macroeconomic variables: gross domestic product, price indices, unemployment rate. Market of Goods and services: determinants of aggregate demand and supply. Money and inflation. Money market: determinants of demand and supply; the role of Central Bank.
II MODULE (24 hours)
The economy in the short period. Introduction to economic fluctuations and the role of the economic policy. The analysis of fiscal and monetary policies in the closed economy (IS-LM model framework) and in the open economy (Mundell-Fleming model framework)
III MODULE (24 hours)
The theory of economic growth. The macroeconomic debates: stabilization policies; public debt, unemployment. The currency areas and the Economic and Monetary Union in Europe
Analysis of the methods of public intervention in the economy. In particular, the study will refer to objectives, models and tools of public intervention in the national (closed economy) and international (open economy) contexts
The course will be organized in lectures and tutorials
Macroeconomics, N.G. Mankiw, M. P. Taylor, (Ed) Worth Publishers, New York (2014)
The learning out through a written test and an oral interview on the topics of the program.
• The written test, which can cover all the topics of the course, is divided into open questions and exercises that can also require a punctual graphic analysis. The purpose of this test is to evaluate the study of the subject and the understanding of the basic issues. It has the character of selection (the student who does not show sufficient knowledge of the topics is not admitted to the subsequent test) and to pass the test it is necessary to acquire at least 18 points out of 30. The students have 60' time and are allowed to use a calculator while consulting texts or using PCs and smartphones is not allowed.
• The oral exam is aimed at assessing the students’ ability to link and compare different issues treated during the course; to pass the test it is necessary to acquire at least 18 points out of 30.
The final mark is given by the average of the two scores. If one of the two the tests is insufficient or if the total score is less than 18 the student must necessarily repeat both the tests.