Course code: 176304 | Subject title: MACROECONOMICS I | ||||
Credits: 6 | Type of subject: Mandatory | Year: 2 | Period: 1º S | ||
Department: Economics | |||||
Lecturers: | |||||
CASARES POLO, MIGUEL [Mentoring ] |
Economic theory, equilibrium, aggregate demand, aggregate supply, inflation, unemployment.
Learning activities | On-class Hours | Off-class hours |
A-1Lectures | 40 | 0 |
A-2 Practice sessions | 15 | 0 |
A-3Reading | 0 | 10 |
A-4Assignments | 0 | 30 |
A-5 Study | 0 | 45 |
A-6 Exams | 5 | 0 |
A-7 Individual tutorials | 0 | 5 |
Total | 60 | 90 |
Proficiency | Formative activity |
GP01. Analytical capacity. | A-1, A-3, A-4, A-5, A-6, A-7 |
GP04. Writing and speaking in English. | A-2, A-3, A-4, A-5, A-6 |
GP07. Capacity for solving problems. | A-1, A-2, A-3, A-4, A-5, A-6, A-7, A-8 |
GP09. Capacity for teamwork. | A-2, A-5, A-6,A-8 |
GP11. International work. | A-3, A-4, A-5, A-6 |
GP12. Information search from different sources. | A-2, A-3, A-4, A-5, A-6, A-7, A-8 |
GP17. Autonomous learning. | A-3, A-4, A-5, A-6, A-7, A-8 |
GP19. Creativity. | A-2, A-3, A-4, A-5, A-6, A-7, A-8 |
SP01. Understand economic institutions as the result of theoretical or formal representations of modern economies. | A-1, A-3,A-4, A-5 |
SP04. Use scientific tools and professional criteria to analyse economic problems. | A-1, A-2, A-3, A-4, A-5, A-6, A-7 |
SP05. Write advising reports on local, national or international economic issues or on sectorial analysis. | A-2,A-4, A-5 |
SP06. Write economic projects at regional, national or international level. | A-2, A-3, A-4, A-5 |
SP10. Evaluate the implications of alternative economic policies and select those that better achieve the policy targets | A-1, A-2, A-3, A-4, A-5, A-6, A-7 |
Activities | Weight % |
HOMEWORKS, PROJECTS, DISCUSSIONS, ESSAYS, CLASS PARTICIPATION (no substitutable in second-attempt exam) | 40% |
MID-TERM EXAM (substitutable in second-attempt exam) | 20% |
FINAL EXAM (substitutable in second-attempt exam) | 40% |
This course introduces the theory of modern macroeconomics with attention focused on the determination of aggregate variables in the short-run such as income, employment, prices, and the interest rate. The first part of the course is devoted to studying the private sector behaviour in goods markets, asset markets, and money markets in order to build foundations for the Aggregate Demand (AD) determination that embodies the IS-LM model. The labour market is presented next for the endogenous construction of the Aggregate Supply (AS) curve. Next, both the Keynesian and classical frameworks are introduced for the macroeconomic analysis and are represented in an AD-AS diagram. A central theme in this part of the course will be to understand the powers and limitations of macroeconomic policies (fiscal policy and monetary policy) in stabilizing the business cycle. Finally, the Phillips curve and the role of expectations are shown to illustrate the possible tradeoffs between policy targets such as inflation and unemployment.
Chapter 1. A Tour of the World
Chapter 2. A Tour of the Book
Chapter 3. The Goods Market
Chapter 4. Financial Markets
Chapter 5. Goods and Financial Markets: The IS-LM Model
Chapter 6. The Labor Market
Chapter 7. Putting All Markets Together: The AS/AD Model
Chapter 8. The Phillips Curve, the Natural Rate of Unemployment, and Inflation
Access the bibliography that your professor has requested from the Library.
Blanchar O. and David W. Johnson (2013). Macroeconomics, 6th edition, Prentice Hall.