Macroeconomics (2019/2020)

Course partially running (all years except the first)

Course code
4S00242
Name of lecturers
Riccardo Fiorentini, Roberto Fini
Coordinator
Riccardo Fiorentini
Number of ECTS credits allocated
9
Other available courses
Academic sector
SECS-P/01 - ECONOMICS
Language of instruction
Italian
Location
VICENZA
Period
Second semester bachelor degree dal Feb 17, 2020 al Jun 5, 2020.

Lesson timetable

Go to lesson schedule

Learning outcomes

The course aims to introduce students to the fundamental topics of macroeconomics. This discipline deals with the aggregate functioning of economic systems determined by the collective behaviour of consumers and firms, by the state intervention on the economy and by the international relations with the rest of the world. The course provides students also with a knowledgeable understanding of the scientific language and methodology adopted by macroeconomics. Its theory is made up of mathematical tools and models that formalize mechanisms behind the markets of goods, money and labour, since their interaction determines the level of national income, employment, and prices. At the end of the course students will be able to make use of such analytical tools to understand and interpret the factors steering the evolution of economic systems at aggregate national level and to evaluate the macroeconomic effects of Central Bank and fiscal policy interventions.

Syllabus

Topics of the course (held in Italian language) are:

1. Survey of the main schools of economic thought .
2. National accounting.
3. Aggregate demand and the income multiplier.
4. The IS-LM model
5. Consumption, investment and government expenditure
6. Aggregate demand and supply.
7. Inflation and unemployment .
8. Open economy macroeconomics.
9. Growth and capital accumulation.

The course is divided into three parts:
(i) models for the determination of output and employment in the short term, even in an open economy;
(ii) medium-term models for the analysis of inflation and the cyclic changes in production;
(iii) the long run models for the study of economic growth and its determinants.
The teaching methods consist of lectures on macroeconomic theory and classes on numerical examples. The e-learning platform of the University will be used to make available to students materials used in the tutorials and further useful readings to the understand the subject.

Textbooks

G. TONDINI, Formazione e distribuzione della ricchezza nelle diverse scuole di pensiero, Aracne Roma, 2006.

DORNBUSCH,FISCHER,STARTZ,CANULLO,PETTENATI, Macroeconomia, McGraw-Hill Higher Education Italy, Milano, 2014, 12° ed.
Chapters: 1,2,3,4,5,6,7,8 (except appendix and paragraph.8.5),10,13,17 (paragraphs.17.1,17.2.1 only)

Reference books
Author Title Publisher Year ISBN Note
TONDINI G. Formazione e distribuzione della ricchezza nelle diverse scuole del pensiero economico Aracne editrice 2004 8879999141
Dornbusch, Fischer, Startz, Canullo, Pettenati Macroeconomia (Edizione 12) McGraw Hill Education 2014

Assessment methods and criteria

There will be a final written exam. The exam is identical for both attending and not-attending students. No partial exams will be held during the course
The exam will consist of three "open" questions on the topics of macroeconomic theory developed during the course and in an exercise to be solved by numerical techniques relating to formal models covered in class. The exercises done in class will prepare the student to solve the numerical exercise. Examples with solution will be available on the e-learning platform of the course.

The exam will asses the level of knowledge and understanding of macroeconomic theory in the short, medium and long term the student has reached, the ability to understand the effects of macroeconomic policies used to solve the problems the real economies are facing and the ability to apply formal models to concrete cases.