Teaching GuideTerm Faculty of Economics and Business |
Grao en Economía |
Subjects |
Macroeconomics |
Contents |
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Identifying Data | 2023/24 | |||||||||||||
Subject | Macroeconomics | Code | 611G01017 | |||||||||||
Study programme |
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Descriptors | Cycle | Period | Year | Type | Credits | |||||||||
Graduate | 2nd four-month period |
Second | Obligatory | 6 | ||||||||||
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Topic | Sub-topic |
1. Basic concepts and relevant facts about the demand and supply sides. | 1.1 The demand side: characteristics; the equilibrium relation investment-savings; the role of expectations in consumption and investment decisions; the Fisher equation. 1.2 The supply side: production and unemployment; supply-side effects on unemployment; nominal rigidities, inflation and rate of unemployment. The Phillips' curve, aggregate supply and natural rate of unemployment. 1.3 Supply-side policy, institutions and unemployment. |
2. Macroeconomic policy in the short to medium term. | 2.1 Overview: economic cycle, output gap and stabilisation; the role of central banks; inflation and deflation. 2.2 Models of macroeconomic policy in the medium run. |
3. The role of expectations. | 3.1 Risk, uncertainty and expectations. 3.2 The Phillips curve, expectations and inflation. |
4. The financial environment. | 4.1 Money and the macro-economy. 4.2 A modern financial system. 4.3 Banks and macro stabilisation. |
5. The open economy. | 5.1 A model of an open economy: the foreign exchange market; the UIP condition; the medium-run equilibrium of the open economy; stabilisation under flexible exchange rates. 5.2 Applications: demand and supply shocks; exchange rate overshooting; exchange rate volatility. |
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