Programme

The course will provide the analytical tools for understanding how the economic system as a whole is working. We will study the behavior of macroeconomic aggregates as domestic product, expenditure for consumption and investment, level of employment, level of the general price system, foreign trade, exchange rate, and moreover the mechanisms driving markets for goods, financial markets and the labor market. We will examine, at an introductory level, economic growth in the short and long run, fiscal, monetary and exchange rate policies, the macroeconomics of the European Economic and Monetary Union. Here you will find the topics of the lectures and their relation with the textbook and the supplementary notes available on the web page of the course.

Part I - Introduction and national accounts
0. Introduction to political economy and macroeconomics
1. A look to some issues of the global, European and Italian economies
2. Macroeconomic aggregates and national accounts. Main economic indicators. Basic statistical methods
Blanchard et al.: chapter I, II, Appendix 1. Supplementary notes

Part II - Basic macroeconomic models
3. Income-expenditure model in the closed economy
4. Income-expenditure model in the open economy
5. Money and financial markets
6. IS-LM model in the closed economy
7. Extended IS-LM model
8. IS-LM model in the open economy
Blanchard et al.: chapter III, IV (excluding appendix), V, VI, XVII, XVIII (excluding appendix), XIX (excluding appendix). Supplementary notes

Part III - Labor market, wages, prices
9. Labor market. Wage and price determination, Survey of models and model with imperfect competition in the labors and goods markets
10. AD-AS model
11. Inflation, unemployment, Phillips curve
Blanchard et al: chapter VII (excluding appendix), VIII (excluding par. 4 and appendix). Supplementary notes

Part IV - Medium run
12. IS-LM-PC model
13. Exchange rate systems
Blanchard et al.: chapter IX (excluding par. 4 and 5), XX (excluding par. 4.2 and appendix). Supplementary notes

Part V - Extensions
14. Accounting for economic growth, Solow growth model, technological progress
15. Expectations, production and economic policy
16. Macroeconomic policies: selected topics about public debt, fiscal rules and monetary policy rules
Blanchard et al.: chapter X, XIII (excluding par. 3), XVI, XXI (only par. 3.3), XXII (par. 2.1, 2.3, 2.5, 4.1), XXIII (par. 2.3, 4). Supplementary notes

Core Documentation

Compulsory material:
1) TEXT BOOK: Olivier Blanchard, Alessia Amighini and Francesco Giavazzi, Macroeconomia, Nuova Edizione, Il Mulino, Bologna, 2016 (le parti da studiare sono indicate nel programma)
2) SUPPLEMENTARY NOTES available on the web page of the course

Optional in-depth material:
3) Marcella Corsi and Alessandro Roncaglia, Nuovi lineamenti di economia politica, Editori Laterza, Bari-Roma, 2017
4) Analytical and information materials will be discussed during the lectures and will be available on the web page of the course

Reference Bibliography

Statistical reports from Istat, Eurostat, Bank of Italy

Type of delivery of the course

60 hours in thirty 2 hours classes (6 hours per week) 20 hours in ten 2-hours practice classes (2 hours per week)

Attendance

Frequency is recommended but not mandatory

Type of evaluation

Final evaluation through written examination (exercises and compositions)

Programme

The course consists of three modules
First module:
• National Accounts
• Aggregate demand. Income multipliers
• The IS-LM model

Second module:
• Aggregate demand in an open economy
• The IS-LM model in an open economy

Third module:
• The labour market
• The AD-AS model
• The natural rate of unemployment and the Phillips curve
• Inflation, production and money growth. The quantity theory of money
• Introduction to growth models

Core Documentation

O. Blanchard, F. Giavazzi, A Amighini
Macroeconomics
Pearson, 2017

Reference Bibliography

O. Blanchard, F. Giavazzi, A Amighini Macroeconomics Pearson, 2017

Type of delivery of the course

6 hours per week of classes by the lecturer and two hours of weekly exercises

Attendance

Frequency is recommended but not mandatory

Type of evaluation

The exam consists of open questions and two exercises

Programme

Introduction
- What is Macroeconomics
- Some elements of the System of National Accounts

Part 1: The Short Run
- The Goods Market
- Financial Markets
- The IS-LM Model

Part 2: The Medium Run
- The Labor Market
- The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- The IS-LM-PC Model

Part 3: Extensions
- Introduction to the theory of economic growth
- The open economy and the Exchange Rate Regimes

Core Documentation

- Olivier Blanchard "Macroeconomics". 2020

Reference Bibliography

- See the references in Olivier Blanchard "Macroeconomics". 7th edition Pearson

Type of delivery of the course

Lectures and exercises The educational activities include lectures, lasting 2 hours three times a week, and exercises with the aim of illustrating the application of the issues covered in the lectures to problems and scenarios of interest. The days assigned to the exercises will be communicated in advance by the teacher.

Attendance

Attendance is not mandatory

Type of evaluation

Mandatory written exam (max 2-hour.) It consists of multiple choice questions, open questions and exercises. If, due to the limitations posed by Covid 19, it is not possible to carry out the written exam, then it will consist of a Mandatory on-line oral discussion, composed of multiple choice questions and open questions.

Programme

The course will provide the analytical tools for understanding how the economic system as a whole is working. We will study the behavior of macroeconomic aggregates as domestic product, expenditure for consumption and investment, level of employment, level of the general price system, foreign trade, exchange rate, and moreover the mechanisms driving markets for goods, financial markets and the labor market. We will examine, at an introductory level, economic growth in the short and long run, fiscal, monetary and exchange rate policies, the macroeconomics of the European Economic and Monetary Union. Here you will find the topics of the lectures and their relation with the textbook and the supplementary notes available on the web page of the course.

Part I - Introduction and national accounts
0. Introduction to political economy and macroeconomics
1. A look to some issues of the global, European and Italian economies
2. Macroeconomic aggregates and national accounts. Main economic indicators. Basic statistical methods
Blanchard et al.: chapter I, II, Appendix 1. Supplementary notes

Part II - Basic macroeconomic models
3. Income-expenditure model in the closed economy
4. Income-expenditure model in the open economy
5. Money and financial markets
6. IS-LM model in the closed economy
7. Extended IS-LM model
8. IS-LM model in the open economy
Blanchard et al.: chapter III, IV (excluding appendix), V, VI, XVII, XVIII (excluding appendix), XIX (excluding appendix). Supplementary notes

Part III - Labor market, wages, prices
9. Labor market. Wage and price determination, Survey of models and model with imperfect competition in the labors and goods markets
10. AD-AS model
11. Inflation, unemployment, Phillips curve
Blanchard et al: chapter VII (excluding appendix), VIII (excluding par. 4 and appendix). Supplementary notes

Part IV - Medium run
12. IS-LM-PC model
13. Exchange rate systems
Blanchard et al.: chapter IX (excluding par. 4 and 5), XX (excluding par. 4.2 and appendix). Supplementary notes

Part V - Extensions
14. Accounting for economic growth, Solow growth model, technological progress
15. Expectations, production and economic policy
16. Macroeconomic policies: selected topics about public debt, fiscal rules and monetary policy rules
Blanchard et al.: chapter X, XIII (excluding par. 3), XVI, XXI (only par. 3.3), XXII (par. 2.1, 2.3, 2.5, 4.1), XXIII (par. 2.3, 4). Supplementary notes

Core Documentation

Compulsory material:
1) TEXT BOOK: Olivier Blanchard, Alessia Amighini and Francesco Giavazzi, Macroeconomia, Nuova Edizione, Il Mulino, Bologna, 2016 (le parti da studiare sono indicate nel programma)
2) SUPPLEMENTARY NOTES available on the web page of the course

Optional in-depth material:
3) Marcella Corsi and Alessandro Roncaglia, Nuovi lineamenti di economia politica, Editori Laterza, Bari-Roma, 2017
4) Analytical and information materials will be discussed during the lectures and will be available on the web page of the course

Reference Bibliography

Statistical reports from Istat, Eurostat, Bank of Italy

Type of delivery of the course

60 hours in thirty 2 hours classes (6 hours per week) 20 hours in ten 2-hours practice classes (2 hours per week)

Attendance

Frequency is recommended but not mandatory

Type of evaluation

Final evaluation through written examination (exercises and compositions)

Programme

The course consists of three modules
First module:
• National Accounts
• Aggregate demand. Income multipliers
• The IS-LM model

Second module:
• Aggregate demand in an open economy
• The IS-LM model in an open economy

Third module:
• The labour market
• The AD-AS model
• The natural rate of unemployment and the Phillips curve
• Inflation, production and money growth. The quantity theory of money
• Introduction to growth models

Core Documentation

O. Blanchard, F. Giavazzi, A Amighini
Macroeconomics
Pearson, 2017

Reference Bibliography

O. Blanchard, F. Giavazzi, A Amighini Macroeconomics Pearson, 2017

Type of delivery of the course

6 hours per week of classes by the lecturer and two hours of weekly exercises

Attendance

Frequency is recommended but not mandatory

Type of evaluation

The exam consists of open questions and two exercises

Programme

Introduction
- What is Macroeconomics
- Some elements of the System of National Accounts

Part 1: The Short Run
- The Goods Market
- Financial Markets
- The IS-LM Model

Part 2: The Medium Run
- The Labor Market
- The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- The IS-LM-PC Model

Part 3: Extensions
- Introduction to the theory of economic growth
- The open economy and the Exchange Rate Regimes

Core Documentation

- Olivier Blanchard "Macroeconomics". 2020

Reference Bibliography

- See the references in Olivier Blanchard "Macroeconomics". 7th edition Pearson

Type of delivery of the course

Lectures and exercises The educational activities include lectures, lasting 2 hours three times a week, and exercises with the aim of illustrating the application of the issues covered in the lectures to problems and scenarios of interest. The days assigned to the exercises will be communicated in advance by the teacher.

Attendance

Attendance is not mandatory

Type of evaluation

Mandatory written exam (max 2-hour.) It consists of multiple choice questions, open questions and exercises. If, due to the limitations posed by Covid 19, it is not possible to carry out the written exam, then it will consist of a Mandatory on-line oral discussion, composed of multiple choice questions and open questions.

Programme

The course will provide the analytical tools for understanding how the economic system as a whole is working. We will study the behavior of macroeconomic aggregates as domestic product, expenditure for consumption and investment, level of employment, level of the general price system, foreign trade, exchange rate, and moreover the mechanisms driving markets for goods, financial markets and the labor market. We will examine, at an introductory level, economic growth in the short and long run, fiscal, monetary and exchange rate policies, the macroeconomics of the European Economic and Monetary Union. Here you will find the topics of the lectures and their relation with the textbook and the supplementary notes available on the web page of the course.

Part I - Introduction and national accounts
0. Introduction to political economy and macroeconomics
1. A look to some issues of the global, European and Italian economies
2. Macroeconomic aggregates and national accounts. Main economic indicators. Basic statistical methods
Blanchard et al.: chapter I, II, Appendix 1. Supplementary notes

Part II - Basic macroeconomic models
3. Income-expenditure model in the closed economy
4. Income-expenditure model in the open economy
5. Money and financial markets
6. IS-LM model in the closed economy
7. Extended IS-LM model
8. IS-LM model in the open economy
Blanchard et al.: chapter III, IV (excluding appendix), V, VI, XVII, XVIII (excluding appendix), XIX (excluding appendix). Supplementary notes

Part III - Labor market, wages, prices
9. Labor market. Wage and price determination, Survey of models and model with imperfect competition in the labors and goods markets
10. AD-AS model
11. Inflation, unemployment, Phillips curve
Blanchard et al: chapter VII (excluding appendix), VIII (excluding par. 4 and appendix). Supplementary notes

Part IV - Medium run
12. IS-LM-PC model
13. Exchange rate systems
Blanchard et al.: chapter IX (excluding par. 4 and 5), XX (excluding par. 4.2 and appendix). Supplementary notes

Part V - Extensions
14. Accounting for economic growth, Solow growth model, technological progress
15. Expectations, production and economic policy
16. Macroeconomic policies: selected topics about public debt, fiscal rules and monetary policy rules
Blanchard et al.: chapter X, XIII (excluding par. 3), XVI, XXI (only par. 3.3), XXII (par. 2.1, 2.3, 2.5, 4.1), XXIII (par. 2.3, 4). Supplementary notes

Core Documentation

Compulsory material:
1) TEXT BOOK: Olivier Blanchard, Alessia Amighini and Francesco Giavazzi, Macroeconomia, Nuova Edizione, Il Mulino, Bologna, 2016 (le parti da studiare sono indicate nel programma)
2) SUPPLEMENTARY NOTES available on the web page of the course

Optional in-depth material:
3) Marcella Corsi and Alessandro Roncaglia, Nuovi lineamenti di economia politica, Editori Laterza, Bari-Roma, 2017
4) Analytical and information materials will be discussed during the lectures and will be available on the web page of the course

Reference Bibliography

Statistical reports from Istat, Eurostat, Bank of Italy

Type of delivery of the course

60 hours in thirty 2 hours classes (6 hours per week) 20 hours in ten 2-hours practice classes (2 hours per week)

Attendance

Frequency is recommended but not mandatory

Type of evaluation

Final evaluation through written examination (exercises and compositions)

Programme

The course consists of three modules
First module:
• National Accounts
• Aggregate demand. Income multipliers
• The IS-LM model

Second module:
• Aggregate demand in an open economy
• The IS-LM model in an open economy

Third module:
• The labour market
• The AD-AS model
• The natural rate of unemployment and the Phillips curve
• Inflation, production and money growth. The quantity theory of money
• Introduction to growth models

Core Documentation

O. Blanchard, F. Giavazzi, A Amighini
Macroeconomics
Pearson, 2017

Reference Bibliography

O. Blanchard, F. Giavazzi, A Amighini Macroeconomics Pearson, 2017

Type of delivery of the course

6 hours per week of classes by the lecturer and two hours of weekly exercises

Attendance

Frequency is recommended but not mandatory

Type of evaluation

The exam consists of open questions and two exercises

Programme

Introduction
- What is Macroeconomics
- Some elements of the System of National Accounts

Part 1: The Short Run
- The Goods Market
- Financial Markets
- The IS-LM Model

Part 2: The Medium Run
- The Labor Market
- The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- The IS-LM-PC Model

Part 3: Extensions
- Introduction to the theory of economic growth
- The open economy and the Exchange Rate Regimes

Core Documentation

- Olivier Blanchard "Macroeconomics". 2020

Reference Bibliography

- See the references in Olivier Blanchard "Macroeconomics". 7th edition Pearson

Type of delivery of the course

Lectures and exercises The educational activities include lectures, lasting 2 hours three times a week, and exercises with the aim of illustrating the application of the issues covered in the lectures to problems and scenarios of interest. The days assigned to the exercises will be communicated in advance by the teacher.

Attendance

Attendance is not mandatory

Type of evaluation

Mandatory written exam (max 2-hour.) It consists of multiple choice questions, open questions and exercises. If, due to the limitations posed by Covid 19, it is not possible to carry out the written exam, then it will consist of a Mandatory on-line oral discussion, composed of multiple choice questions and open questions.

Programme

The course will provide the analytical tools for understanding how the economic system as a whole is working. We will study the behavior of macroeconomic aggregates as domestic product, expenditure for consumption and investment, level of employment, level of the general price system, foreign trade, exchange rate, and moreover the mechanisms driving markets for goods, financial markets and the labor market. We will examine, at an introductory level, economic growth in the short and long run, fiscal, monetary and exchange rate policies, the macroeconomics of the European Economic and Monetary Union. Here you will find the topics of the lectures and their relation with the textbook and the supplementary notes available on the web page of the course.

Part I - Introduction and national accounts
0. Introduction to political economy and macroeconomics
1. A look to some issues of the global, European and Italian economies
2. Macroeconomic aggregates and national accounts. Main economic indicators. Basic statistical methods
Blanchard et al.: chapter I, II, Appendix 1. Supplementary notes

Part II - Basic macroeconomic models
3. Income-expenditure model in the closed economy
4. Income-expenditure model in the open economy
5. Money and financial markets
6. IS-LM model in the closed economy
7. Extended IS-LM model
8. IS-LM model in the open economy
Blanchard et al.: chapter III, IV (excluding appendix), V, VI, XVII, XVIII (excluding appendix), XIX (excluding appendix). Supplementary notes

Part III - Labor market, wages, prices
9. Labor market. Wage and price determination, Survey of models and model with imperfect competition in the labors and goods markets
10. AD-AS model
11. Inflation, unemployment, Phillips curve
Blanchard et al: chapter VII (excluding appendix), VIII (excluding par. 4 and appendix). Supplementary notes

Part IV - Medium run
12. IS-LM-PC model
13. Exchange rate systems
Blanchard et al.: chapter IX (excluding par. 4 and 5), XX (excluding par. 4.2 and appendix). Supplementary notes

Part V - Extensions
14. Accounting for economic growth, Solow growth model, technological progress
15. Expectations, production and economic policy
16. Macroeconomic policies: selected topics about public debt, fiscal rules and monetary policy rules
Blanchard et al.: chapter X, XIII (excluding par. 3), XVI, XXI (only par. 3.3), XXII (par. 2.1, 2.3, 2.5, 4.1), XXIII (par. 2.3, 4). Supplementary notes

Core Documentation

Compulsory material:
1) TEXT BOOK: Olivier Blanchard, Alessia Amighini and Francesco Giavazzi, Macroeconomia, Nuova Edizione, Il Mulino, Bologna, 2016 (le parti da studiare sono indicate nel programma)
2) SUPPLEMENTARY NOTES available on the web page of the course

Optional in-depth material:
3) Marcella Corsi and Alessandro Roncaglia, Nuovi lineamenti di economia politica, Editori Laterza, Bari-Roma, 2017
4) Analytical and information materials will be discussed during the lectures and will be available on the web page of the course

Reference Bibliography

Statistical reports from Istat, Eurostat, Bank of Italy

Type of delivery of the course

60 hours in thirty 2 hours classes (6 hours per week) 20 hours in ten 2-hours practice classes (2 hours per week)

Attendance

Frequency is recommended but not mandatory

Type of evaluation

Final evaluation through written examination (exercises and compositions)

Programme

The course consists of three modules
First module:
• National Accounts
• Aggregate demand. Income multipliers
• The IS-LM model

Second module:
• Aggregate demand in an open economy
• The IS-LM model in an open economy

Third module:
• The labour market
• The AD-AS model
• The natural rate of unemployment and the Phillips curve
• Inflation, production and money growth. The quantity theory of money
• Introduction to growth models

Core Documentation

O. Blanchard, F. Giavazzi, A Amighini
Macroeconomics
Pearson, 2017

Reference Bibliography

O. Blanchard, F. Giavazzi, A Amighini Macroeconomics Pearson, 2017

Type of delivery of the course

6 hours per week of classes by the lecturer and two hours of weekly exercises

Attendance

Frequency is recommended but not mandatory

Type of evaluation

The exam consists of open questions and two exercises

Programme

Introduction
- What is Macroeconomics
- Some elements of the System of National Accounts

Part 1: The Short Run
- The Goods Market
- Financial Markets
- The IS-LM Model

Part 2: The Medium Run
- The Labor Market
- The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- The IS-LM-PC Model

Part 3: Extensions
- Introduction to the theory of economic growth
- The open economy and the Exchange Rate Regimes

Core Documentation

- Olivier Blanchard "Macroeconomics". 2020

Reference Bibliography

- See the references in Olivier Blanchard "Macroeconomics". 7th edition Pearson

Type of delivery of the course

Lectures and exercises The educational activities include lectures, lasting 2 hours three times a week, and exercises with the aim of illustrating the application of the issues covered in the lectures to problems and scenarios of interest. The days assigned to the exercises will be communicated in advance by the teacher.

Attendance

Attendance is not mandatory

Type of evaluation

Mandatory written exam (max 2-hour.) It consists of multiple choice questions, open questions and exercises. If, due to the limitations posed by Covid 19, it is not possible to carry out the written exam, then it will consist of a Mandatory on-line oral discussion, composed of multiple choice questions and open questions.