The course aims at introducing 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 which formalizes domestic and international mechanisms behind the functioning of aggregate markets of goods, money and labour, since their interaction determines the level of national income, employment, and prices. Speech by invited academic and business experts shall supplement the regular lectures and upon completion 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, international and European level and to evaluate the macroeconomic effects of Central Bank and fiscal policy interventions.
Topics of the course (taught 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 in a closed economy
5. Consumption, investment and government expenditure
6. Aggregate demand and supply.
7. Inflation and unemployment.
8. Macroeconomics of the European Union
8. Open economy macroeconomics.
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) International macroeconomic models: interdependence, constraints and new trends of the World economy
The teaching methods consist of classroom lectures on macroeconomic theory and teamwork assignments. The e-learning platform of the University will be used to make available to students materials used in the tutorials and additional readings.
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,,4,5,6,7,8 (except appendix),9 (paragraph 9.1 only),10,13,15
|Dornbusch, Fischer, Startz, Canullo, Pettenati||Macroeconomia (Edizione 12)||McGraw Hill Education||2020|