Macroeconomics - 1 - lezione (2008/2009)

Learning outcomes

The aim of the course is to provide the students with the essential tools to understand the main macroeconomic facts, as national income, economic growth, the price level, the choices of consumption, investment public expenditure and the level of employment. With this outlook, the students will become acquainted with the basic concepts of the national accounts and the main theoretical models, developed by the economists in order to study the working of an economic system. Specifically three main markets will be presented: the market of goods, of money and the market of labour and the links through which they interact. The lectures will be alternated with practical and seminar lessons in order to guide the students to use theory in the empirical applications

Main stylized facts
Macroeconomic thought
National accounting
Income expenditure model
Money market equilibrium
IS-LM model
Labour market
AD- AS model
Phillips curve
Inflation
The role of expectations
Growth theory
Capital accumulation and technical progress
The model of the open economy
Macroeconomics and political economy

Final assessment is written tests and exercises