POLITICAL ECONOMY I (Cognomi A-K)
Academic year and teacher
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- Versione italiana
- Academic year
- 2015/2016
- Teacher
- PAOLO PINI
- Credits
- 10
- Didactic period
- Secondo Semestre
- SSD
- SECS-P/01
Training objectives
- The aim of the course is the analysis of the macroeconomic theory, that is the analysis of equilibrium in goods market, money and financial markets, labour markets, and finally the analysis of the equilibrium for aggregate demand and aggregate supply, in closed and open economy.
The open economy studies the role of the balance of payments and foreign exchange dynamics. The dynamics of growth and sustainable economic development are proposed.
At the end of the course the student is able to analyze and understand the effects of economic policies in the short and long term, in closed and open economy, with various arrangements of fixed and flexible exchange rates. Prerequisites
No requirementsCourse programme
- Course content:
First part (20 hours)
Keynesian model in the short run
Introduction to macroeconomics; the history of macroeconomics; the market for goods; financial markets; the IS-LM model; aggregate demand and macroeconomic equilibrium.
Second part (20 hours)
Aggregate supply
The labour market; the real economy, financial markets and the labour market: general equilibrium analysis; the Phillips curve.
Third part (20 hours)
Open economy
Real and financial markets in the open economy; the market for goods in the real economy; production, interest rates and exchange rates.
Fourth part (20 hours)
The long run
Economic growth: stylized facts, and theory of growth; technological progress, determinants and effects; technological progress, unemployment and wages.
Growth, Economic Development and environmental-economic sustainability. Didactic methods
Class exercises and written final examLearning assessment procedures
- Interactions in the classroom and exercises proposed during the course with times of correction and verification on various modules.
The written test consists of a multiple choice quiz for the four sections of the course.
The final mark will follow from the sum of the marks of the four parts of the exam. To pass the exam is necessary a mark at least of 18 points out of 31 for the first and second parts, and for the third and fourth parts.
All parties regard the theoretical arguments and exercises covered in the course. Reference texts
- References:
Teaching materials (compulsory):
- Blanchard O., Amighini A., Giavazzi F., Macroeconomia. Una prospettiva europea, Bologna, il Mulino, 2011
- Brancaccio E. (2016), Anti-Blanchard. Un approccio comparato allo studio della macroeconomia, Milano, FrancoAngeli, second edition.
Teaching materials (additional):
Bagnai A. (2014), L’Italia può farcela, Milano, il Saggiatore.
Carraro C. Mazzai A. (2015), Il clima che cambia, Bologna, Il Mulino.
Krugman P. (2012), Fuori da questa crisi, adesso!, Milano, Garzanti.
Lanza A. (2006), Lo Sviluppo sostenibile, Bologna, Il Mulino.
Leon P. (2014), Il capitalismo e lo stato, Roma, Castelvecchi.
Pini P. (2013), Lavoro, contrattazione, Europa, Roma, Ediesse.
Sen A.K. (2013), Sull’ingiustizia, Erickson.
Stiglitz J. Sen A.K. Fitoussi J.P. (2013), La misura sbagliata delle nostre vite. Perché il PIL non basta più per valutare benessere e progresso sociale, Rizzoli ETAS.
Web site of the course (minisito):
http://www.unife.it/economia/economia/insegnamenti/economia-politica-i-a-k
