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Teaching GuideTerm Faculty of Economics and Business |
| Grao en Economía |
 Subjects |
| Principles of Macroeconomics |
| Contents |
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| Identifying Data | 2022/23 | |||||||||||||
| Subject | Principles of Macroeconomics | Code | 611G01005 | |||||||||||
| Study programme |
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| Descriptors | Cycle | Period | Year | Type | Credits | |||||||||
| Graduate | 2nd four-month period |
First | Basic training | 6 | ||||||||||
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| Topic | Sub-topic |
| 1. THE SCIENCE OF MACROECONOMICS | 1. What Macroeconomics study 2. How economists think |
| 2. THE DATA OF MACROECONOMICS | 1. Aggregate output 2. Other major macroeconomic variables 3. Macroeconomic models and aggregate variables 4. A brief history of macroeconomics 5. Three central concepts around which the subject is organized |
| 3. THE GOODS MARKET: THE IS CURVE | 1. The composition of GDP 2. The demand for goods 3. The determination of equilibrium output 4. Investment equals saving: An alternative way of thinking about goods-market equilibrium 5. The determination of equilibrium output. Investment as endogenous variable: The IS curve 6. Investment equals saving: An alternative IS representation (goods-market equilibrium) 7. Is the government omnipotent? a warning |
| 4. THE FINANCIAL MARKETS: THE LM CURVE | 1. Financial markets: an aggregation assumption 2. The demand for money 3. Money supply 4. Determination of the interest rate and the LM curve 5. Monetary policy and open market operations |
| 5. THE GOODS AND FINANCIAL MARKETS: THE IS-LM MODEL |
1. Introduction 2. The goods market and the IS relation: Review 3. Financial markets and the LM Relation:Review 4. Putting the IS and the LM relations together 5. Aggregate demand 6. How does the IS-LM model fit the facts? |
| 6. THE AGGREGATE SUPPLY SIDE OF THE ECONOMY | 1. Introduction: A brief review 2. The supply side of the economy: Price determination 3. The supply side of the economy: Wage determination 4. The labor market: The natural rate of unemployment 5. The Phillips curve: From the level of prices to the inflation rate 6. Nominal and real interest rates 7. The real interest rate and the IS-LM model 8. The nominal and real interest rates: the monetary-policy rule |
| 7. PUTTING ALL MARKETS TOGETHER: THE IS-LM-PC MODEL | 1. The real interest rate and the IS-LM model: A review 2. IS-LM-PC model |
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