Macroeconomics (2017/2018)

Course partially running (all years except the first)

Course code
Name of lecturers
Giovanni Tondini, Alessia Campolmi, Valentina Colombo
Giovanni Tondini
Number of ECTS credits allocated
Academic sector
Language of instruction
Secondo Semestre Triennali dal Feb 19, 2018 al Jun 1, 2018.

Lesson timetable

Go to lesson schedule

Learning outcomes

The course provides the theoretical and methodological competences needed to analyze some of the main topics in macroeconomics like the determinants of aggregate demand and aggregate supply, and what generates cyclical fluctuations in income and unemployment.
At the end of the course, students will know the role that monetary and fiscal policy play in stabilizing the economy, both in closed economy as well as in an economy open to international trade, and what generates long-run growth.


1. Introduction to National Accounting.
2. Aggregate demand and income multiplier.
3. Goods and money market: The IS-LM model.
4. Consumption, investment and government spending.
5. Aggregate Supply: The AS-AD model.
6. Inflation and Unemployment.
7. Introduction to International Economics.
8. Growth theory.

Text books:
Blanchard, Amighini e Giavazzi (2016). "Macroeconomia. Una prospettiva europea".
Findlay (2017). "Esercitazioni di Macroeconomia"
Additional material is available on the e-learning platform of the course.
The following chapters of the Blanchard et al. (2016) book are not required: 14.3, 14.4, 21, 22.3, 24.

Reference books
Author Title Publisher Year ISBN Note
Findlay, David W Esercizi di Macroeconomia. Guida allo studio del testo di Olivier Blanchard, Alessia Amighini, Francesco Giavazzi Il Mulino 2017 9788815272003
OLIVIER BLANCHARD, ALESSIA AMIGHINI, FRANCESCO GIAVAZZI Macroeconomia. Una prospettiva europea Il Mulino 2016 978-88-15-26571-5

Assessment methods and criteria

The aim of the exam is to verify the student’s understanding of the theory analyzed in class, as well as the ability to apply the theory to solve numerical exercises.
The final exam consists of two parts: a multiple-choice test (30% of the final grade), and two exercises (70% of the final grade). The multiple-choice test is made up by 15 questions and is graded as follows: correct answer +2, wrong answer -2/3, no answer 0. Students receiving a grade of 9/30 or below in the multiple-choice test fail the exam. If the score in the multiple-choice test is 10/30 or greater, the final grade will be given by the weighted average of the grades from the two parts. Both the multiple-choice and the exercises will be based on the entire program covered during the course.
------ mid-term exam -------
There will be a non-compulsory mid-term evaluation, in the form of a multiple-choice test (like in the final exam) that will evaluate students' knowledge of the topics covered in the first half of the course. Students achieving a grade of 15/30 or higher will be exempted from doing the multiple-choice test during the 1 appello of the summer session. The final grade will be given by the weighted average of the mid-term grade (30%) plus the grade achieved on the two exercises during the final exam (70%).
Students that chose to not do the mid-term, or that achieve a grade below 15/30, will have to do the entire exam during the exam sessions. Students that have achieved a grade of at least 15/30 in the mid-term exam, but still decide to do the multiple-choice test during the official exam session can do so. However in this case the grade of the mid-term exam will be lost.