MACROECONOMICS

Course Sheet

Course code:

MAPE17

Academic Year of enrolment:

2017

Year of supply:

2018/2019

Divisions:

Cognomi A-D

Type of Course:

Characterising

Degree:

Course of 1st Cycle Degree in MANAGEMENT AND ECONOMICS

Is part of:

MACROECONOMICS

Location:

PESCARA

Credits:

Programme Year:

Professor and Collaborators:

ANTONIOLI Davide

Cycle:

Second semester

Hours of classroom activity:

Individual study hours:

153

Prerequisites:

Although no prerequisites are required, knowledge of the basic concepts of Microeconomics is recommended.

Objectives

he course pursues the general objective of the course of study to provide knowledge and skills regarding Macroeconomics and Economic Policy.
In particular, the analytical tools to understand the most relevant economic models will be provided. In addition, on the basis of what is taught in the first part of the course the student will be able to understand, interpret and envisage the consequences of the economic policies that will be illustrated in the second part of the course.

At the end of the course the student must possess knowledge and skills to understand and interpret the economic changes occurred at national and international levels, in accordance with the educational objectives of the Study Course.
To this end the course proposes to transmit the following skills and knowledge:

KNOWLEDGE AND UNDERSTANDING ABILITY
- Builds the income-expenditure model
- Interprets the income-expenditure model
- Builds the IS-LM model
- Interprets the IS-LM model
- Builds the AD-AS model
- Interprets the AD-AS model
- Recognizes theories, stylized facts and policies regarding public policies
- Recognizes the theories, stylized facts and policies regarding monetary policies
- Recognizes theories, stylized facts and policies regarding growth policies
- Recognizes the theories, stylized facts and policies regarding employment policies

KNOWLEDGE AND UNDERSTANDING (applied)
- Derives the formula of the curves IS, LM, AD, AS
- Derives the keynesian multiplier
- Derives the formula for public debt dynamics
- Uses analytical models and graphical analysis to understand and interpret macroeconomic phenomena and economic policies

AUTONOMY OF JUDGMENT:
- Ties macroeconomic models to economic policies
- Identifies the consequences of economic policies for the economy
- develops (even in oral form) an autonomous discourse on the main economic policy topics

COMMUNICATION SKILLS:
- uses the technical language of Macroeconomics and Economic Policy

ABILITY TO LEARN
- carries out individual and group research on specific aspects of the discipline
- compares its own competences with recent analyses and with the economic policies adopted in the context of the European Union and Eurozone.

Contents

The second part of the course will illustrate and analyse the economic policies on the basis of what is taught in the first part of the course:
- Fiscal and Monetary policies (the role of the Monetary Union and of the European Central Bank)
- Policies for employment
- Growth policies

Extended Syllabus

The course will be formed by the following contents.
The first part of the course will be devoted to the teaching of the Macroeconomics basis through the analysis of:
- Aggregate Demand: from the income and expenditure and IS-LM models to the definition of the Aggregate Demand
- Aggregate Supply: productivity, wages and the definition of the Aggregate Supply in the short and long run
- Influence of fiscal and monetary policy in the model of Aggregate Demand and Supply

The second part of the course will illustrate and analyse the economic policies on the basis of what is taught in the first part of the course:
- Fiscal and Monetary policies: the role of the Monetary Union and of the European Central Bank; some hints on the Fiscal Compact and on the consequences of an incomplete monetary union.
- Growth policies: economic models to interpret the economic growth and the policies that may influence the rate of growth of a country;
- Employment policies: analysis of the labour market and of the models used to interpret labour market's phenomena;

Recommended Bibliography

Dornbusch at al. (2014), Macroeconomia, XI Edizione, McGrawHill, Milano (Ch. 4,5,6,8)

Benassy-Quere etal. (2014), Politica Economica. Teoria e Pratica (a cura di A. Petretto e F.F. Russo), ilMulino, Bologna (Ch. 3,4,6,8)

Teaching Methods

The course is made by 72 hours of frontal lessons coupled with general discussions and interactions between professor and students.

Attendance is not compulsory, but it is recommended

Evaluation methods

Verification of learning:

Given the objectives and aims of the discipline the most appropriate way to verify the learning process is a written examination.
The latter is composed by two sections. The first is constituted by closed questions (5) on a vast array of topics and has the aim of capturing the overall students' knowledge of the discipline. The second is composed by open questions (2), which provide information on the capacity of the student of elaborating and analysing economic phenomena through the use of the tools provided during the frontal lessons.
The examination procedure allows to probe "the knowledge" and the "know-how" (Dublin Descriptors 1 and 2) of the student in addition to the clarity of the exposition and technical-language competencies.
Details will be provided during the classes and they will be made available on the e-learning site.
Same exam modalities fro student attending the lessons and student that do not attend the lessons.

Contacts/More Information

All information concerning the course, the lecture notes, the support materials and the exercises and all communications will take place through the e-learning page

ERASMUS students are invited to contact the professor.

Università degli Studi
"G. d'Annunzio"

Chieti - Pescara

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