Course 2017-2018 a.y.



Department of Economics

Course taught in English

Go to class group/s: 23
BIG (6 credits - II sem. - OB  |  SECS-P/01)
Course Director:

Classes: 23 (II sem.)

Course Objectives

The course aims at teaching the elementary vocabulary and concepts of an open economy macro theory. The objective is also to stimulate students, with group work and presentations, to apply what they learn in discussing real world issues. Students are introduced to the understanding of national accounts, aggregate equilibrium on the goods and asset markets, macro analysis of the labor market, costs of production, productivity and countries' competitiveness, inflation, exchange rates and policies for macro-stabilization. Group work then provides an introductory experience in using basic data, official documents and simple academic literature, to dig into some of the current debates on policy making.

Intended Learning Outcomes
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Course Content Summary

  • Measuring aggregate economic activity.
  • Macro equilibrium and the IS-LM model.
  • The aggregate cost curve, the labor market and the Phillips trade-off.
  • Economic policies to stabilize internal and external equilibria in open economies.
  • Global macroeconomic geography.
  • Long term prospects for growth: the debate.
  • EU’s monetary policy and fiscal coordination: current developments.
  • Labor market and welfare systems: empirical evidences and proactive structural policies.
  • The global crisis since 2007: a role for international cooperation?

Teaching methods
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Assessment methods
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Detailed Description of Assessment Methods

Grades based
  • 40% on a written partial exam (or an equivalent part of a final, general exam).
  • 40% on group work (or individual paper).
  • 20% on the second partial (or equivalent part of the general).


  • O. BLANCHARD, A. AMIGHINI, F. GIAVAZZI, Macroeconomics: a European perspective, Pearson, 2013, 2th edition, only for reference to some chapters: for the preparation of the corresponding parts of the exam a set of slides is prepared by the teacher.
Exam textbooks & Online Articles (check availability at the Library)
Last change 12/06/2017 10:50