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 objective of the exam is to verify the level of achievement of the previously indicated training objectives. Verification of learning will be carried out through a written test and an oral interview on the topics of the program.
• The written test, which aims to evaluate the study of the subject and the understanding of the basic topics, can cover all the topics covered in the course and is divided into open questions (2 open questions that require broader and more exhaustive answers and 5 definitions) and an exercise that may also require a detailed graphical and analytical analysis. It is selective (the student who does not show sufficient knowledge of the topics is not admitted to the next test) and to pass the test it is necessary to acquire at least 18 points out of 30. Students have 60 'available and only the use of calculators, it is not allowed to consult texts or use PCs and smartphones.
• The oral exam is aimed at evaluating the ability to connect and compare the various topics covered during the course; to pass the test it is necessary to acquire at least 18 points out of 30.
The evaluation of the evidence takes into account the efficiency of the methods used, the completeness and accuracy of the answers, as well as the clarity of presentation.
The final grade is given by the average of the two scores. If one of the two tests is insufficient or if the total score is less than 18 it is necessary to repeat both tests.
For the students attending the course there is the possibility of taking an intermediate exam. This exam, consisting of three open questions and 5 definitions, focuses on the first part of the course and will be considered for the purposes of the final grade if the student obtains an evaluation of at least 18 points out of 30 and completes the exam within the ongoing semester's sessions. Students who pass this intermediate exam will be able to access the final written and oral exams exclusively on the topics studied in the second part of the course.