Public University of Navarre

Academic year: 2020/2021 | Previous academic years:  2019/2020  |  2018/2019  |  2017/2018  |  2016/2017 
International Double Bachelor's degree in Economics, Management and Business Administration at the Universidad Pública de Navarra
Course code: 176406 Subject title: MACROECONOMICS II
Credits: 6 Type of subject: Mandatory Year: 2 Period: 2º S
Department: Economía

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Module/Subject matter




This course offers students the opportunity to explore and understand issues of Macroeconomic Theory. By the end of the course, students should be able to use economic tools to analyze a diversity of issues and macroeconomic policies. This course is a core in the major and minor in the economic program at internationally-oriented universities. We will assume that students know the basic concepts of Macroeconomics thought in the Macroeconomics I. We will study macroeconomic theories and use them in analyzing relevant economic issues of today's economy, with special attention to open-economy issues, the role of expectations and the economic policies for macro stabilization.


General proficiencies

GP01. Ability to analyze and summarize.

GP04. Writing and Speaking in English.

GP07. Ability to solve problems

GP09. Team work.

GP11. Work in an international environment.

GP12. Information search.

GP17. Autonomous learning.

GP19. Creativity.


Specific proficiencies

SP01. Understand the behavior of economic institutions with formal models.

SP04. Use economic analysis with scientific instruments.

SP05. Write reports describing economic phenomena.

SP06. Research projects at international, national or regional levels.

SP10. Evaluate the performance of alternative policies and select them with technical criteria.


Learning outcomes

LO2. Model of output determination in an open economy, money, inflation, unemployment, growth and economic policy instruments.

LO9. Macroeconomic models, economic growth and development, regional and urban economics.



Activities Presence Hours Non-presence Hours
A-1 Lectures 30  
A-2 Seminars 20  
A-3 Discussions 08  
A-4 Homeworks   20
A-5 Reading material   10
A-6 Individual studying   36
A-7 Exams 06  
A-8 Office Hours 20  
Total 84 66



Learning results Evaluation system WEIGHT (%) Substitutable in second-attempt exam*
R10, R11. Extension 1: Expectations Evaluation test 1 25% Yes
R10, R12. Extension 2: The open economy Evaluation test 2 25% Yes
R11, R12. Extension 3: Back to policy Evaluation test 3 10% Yes
R10, R11, R12 Final exam (all the contents of the course) 40% Yes

Those students who do not take the final exam and the second-attempt exam will obtain the overall grade "NO PRESENTADO".

*All the students who do not pass the course after the final exam have the possibility to take the second-attempt exam, which will include all the contents of the course. The results of the Evaluation tests 1, 2, 3 and the Final exam won't be considered, that is, the grade obtained in the second-attempt exam will be the overall grade in the course.



Extension I: Expectations

Financial Markets and Expectations

Expectations, Consumption, and Investment

16. Expectations, Output, and Policy

Extension II: The Open Economy

Openness in Goods and Financial Markets

The Goods Market in an Open Economy

Output, the Interest Rate, and the Exchange Rate

20. Exchange Rate Regimes

Extension III: Back to Policy

Should Policy Makers Be Restrained?

Fiscal Policy: A Summing Up

Monetary Policy: A Summing Up



Access the bibliography that your professor has requested from the Library.

Compulsory bibliography:

Blanchard, Oliver, Macroeconomics (7th Edition). Pearson. 2017.






Aulario on Campus Arrosadia, UPNA.