macroeconomics and financial policies

ECONOMICS macroeconomics and financial policies

0222200046
DEPARTMENT OF ECONOMICS AND STATISTICS
EQF7
ECONOMICS
2022/2023

OBBLIGATORIO
YEAR OF COURSE 2
YEAR OF DIDACTIC SYSTEM 2018
AUTUMN SEMESTER
CFUHOURSACTIVITY
1060LESSONS
ExamDate
MACROECONOMIA E POLITICHE FINANZIARIE12/01/2023 - 14:00
MACROECONOMIA E POLITICHE FINANZIARIE12/01/2023 - 14:00
MACROECONOMIA E POLITICHE FINANZIARIE23/01/2023 - 14:00
MACROECONOMIA E POLITICHE FINANZIARIE23/01/2023 - 14:00
MACROECONOMIA E POLITICHE FINANZIARIE06/02/2023 - 10:00
MACROECONOMIA E POLITICHE FINANZIARIE06/02/2023 - 10:00
Objectives
KNOWLEDGE AND UNDERSTANDING: AIM OF THE COURSE IS TO PROVIDE STUDENTS WITH METHODOLOGICAL TOOLS FOR UNDERSTANDING THE MOST WIDESPREAD CONCEPTS OF DYNAMIC MACROECONOMIC ANALYSIS.

APPLYING KNOWLEDGE AND UNDERSTANDING: AIM OF THE COURSE IS TO PROVIDE STUDENTS WITH THE ABILITY TO INTERPRET MACROECONOMIC ISSUES THROUGH THEORETICAL MODELS AND PRODUCE PREDICTIONS ABOUT ECONOMIC POLICIES.

MAKING JUDGEMENTS: WE EXPECT THAT IN MACROECONOMIC ANALYSIS STUDENTS WILL BE ABLE TO CRITICALLY SELECT THE ANALYTICAL MODELS WHICH BEST RESPOND TO THE FEATURES OF THE PROBLEM OBJECT OF STUDY.

COMMUNICATION SKILLS: AIM OF THE COURSE IS THAT STUDENTS WILL BE ABLE TO PRESENT TO A NON-TECHNICAL AUDIENCE THE RESULTS OBTAINED.

LEARNING SKILLS: AIM OF THE COURSE IS THAT STUDENTS WILL BE ABLE TO APPLY ADVANCED MACROECONOMIC MODELS AND BE INTRODUCED TO DOCTORAL STUDIES
Prerequisites
STATIC AND DYNAMIC OPTIMIZATION AND 1ST ORDER DIFFERENTIAL AND DIFFERENCE EQUATIONS
Contents
THE COURSE DISCUSSES LONG AND SHORT RUN MACROECONOMIC MODELS AND AIMS TO GIVE THE STUDENTS ADVANCED ANALYTICAL TOOLS FOR THE INTERPRETATION OF THE MAIN MACROECONOMIC ISSUES.
CLASSES ARE ORGAZISED ACCORDING TO THE FOLLOWING SCHEME.
1. ECONOMIC GROWTH
- EMPIRICAL REGULARITY
- PRODUCTION FUNCTION AND ECONOMIC GROWTH
- MODELS WITH EXOGENOUS GROWTH
- THE SOLOW GROWTH MODEL
- THE SOLOW MODEL WITH HUMAN CAPITAL
- THE RAMSEY MODEL
- CONVERGENCE
- ENDOGENOUS GROWTH
- TWO-PERIOD MODELS
- OLG MODELS

2 PUBLIC SPENDING
RICARDIAN EQUIVALENCE AND NON-EQUIVALENCE
DEBT AND INTERGENERATIONAL REDISTRIBUTION

3. MONEY
MONEY AS A MEDIUM OF EXCHANGE
EXISTENCE OF FIAT MONEY IN OLG MODELS
PORTFOLIO OPTIMIZATION
FINANCIAL MARKETS AND CRISES
Teaching Methods
LECTURES (45H) AND EXERCISES (15H)
Verification of learning
ACHIEVING THE OBJECTIVES OF LEARNING IS CERTIFIED BY EXAMINATION. THE EXAM PROVIDES A WRITTEN TEST THAT IS PASSED WITH A MINIMUM VOTE OF 18/30 AND A MAXIMUM OF 30/30.
THE TEST OF 60 MINUTES IS FINALIZED TO A TRANSPARENT AND OBJECTIVE EVALUATION OF THE KNOWLEDGE AND LEARNING CAPABILITY OF THE STUDENT.

THE TEST IS STRUCTURED IN FIVE EXERCISES.
TWO EXERCISES REQUIRE THE REPRODUCTION OF MODELS STUDIED IN THE COURSE. TWO EXERCISES REQUIRE THE APPLICATION OF THE METHODOLOGY ACQUIRED DURING THE CLASSES TO SOLVE A PROBLEM. A HIGHER-LEVEL EXERCISE GIVES THE STUDENT THE POSSIBILITY TO COMPLETELY SHOW HIS COMPETENCES.
THE STUDENT IS INFORMED OF THE SCORE CORRESPONDING TO ANY EXERCISE.

ANY ANSWER MUST CONTAIN A BRIEF COMMENT AND/OR A GRAPHIC DESCRIPTION. THE ANSWERS ARE THEREFORE COMPARABLE TO PRE-DETERMINED CRITERIA FOR CORRECTION. IN SUCH A WAY, IT IS POSSIBLE NOT ONLY TO KNOW THE KNOWLEDGE AND THE ABILITY OF THE STUDENT BUT ALSO HIS ABILITY TO EXHIBIT THE ARGUMENTS WITH THE APPROPRIATE TERMINOLOGY.

THE USE OF TEXTBOOKS, PCS AND SMARTPHONES IS STRICTLY FORBIDDEN; ONLY A CALCULATOR IS ALLOWED.
Texts
MAIN TEXTBOOK:

BARRO ROBERT, SALA-I-MARTIN XAVIER, ECONOMIC GROWTH, MIT PRESS.

ROMER D.: ADVANCED MACROECONOMICS, MCGRAW-HILL.

SUGGESTED TEXTBOOKS:

ACEMOGLU DARON, INTRODUCTION TO MODERN ECONOMIC GROWTH, PRINCETON UNIVERSITY PRESS.

OTHER READINGS:

HEIJDRA B., VAN DER PLOEG F.: FOUNDATIONS OF MODERN MACROECONOMICS, OXFORD UNIVERSITY PRESS;

BAGLIANO FABIO CESARE, BERTOLA GIUSEPPE, METODI DINAMICI E FENOMENI MACROECONOMICI, IL MULINO.

LEONARD DANIEL, VAN LONG NGO, OPTIMAL CONTROL THEORY AND STATIC OPTIMIZATION IN ECONOMICS, CAMBRIDGE UNIVERSITY PRESS.

DE LA CROIX DAVID, MICHEL PHILIPPE, A THEORY OF ECONOMIC GROWTH: DYNAMICS AND POLICY IN OVERLAPPING GENERATIONS, CAMBRIDGE UNIVERSITY PRESS.


BLANCHARD OLIVIER, FISHER STANLEY, LECTURES ON MACROECONOMICS, MIT PRESS
More Information
FURTHER READINGS WILL BE PROVIDED DURING CLASSES
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