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Macroeconomics II

Code 12089
Year 2
Semester S1
ECTS Credits 6
Workload T(30H)/TP(30H)
Scientific area Economics
Entry requirements No.
Learning outcomes Macroeconomics II focuses on the demand side of macroeconomics. Students must be able to:
1. Identify the determinants of Consumption, Investment, Savings and Money Demand.
2. Solve the problems of the agents that consume, save, invest and demand money.
3. Identify the components of aggregate demand.
4. Solve the short-run macroeconomic models and determine their equilibrium.
Syllabus PART I - INTRODUCTION
1. Basic concepts (capitalization and discount, budget constraints and graphical representation, intertemporal budget constraints).
2. Short-run data on macroeconomic aggregates and their interpretation.
PART II – NEOCLASSICAL ECONOMICS
3. Consumption and Savings.
4. Investment.
5. Open Economies: the relation between Savings and Investment.
6. Money Demand.
PARTE III – KEYNESIAN ECONOMICS
7. IS-LM Model.
8. Aggregate Demand in a Closed Economy.
9. Open Economies: Exchange Rate regimes and the Mundell-Flemming model.
Main Bibliography Abel, A., Bernanke, B. & Croushore, D. (2020). Macroeconomics, 10th Edition. Pearson.
Burda, M. & Wyplosz, C. (2017). Macroeconomics: An European Text, 7th Edition. Oxford University Press.
Larrain, F. & Sachs, J. (1993). Macroeconomics in the global economy. Prentice-Hall.
Sequeira, T., Neves, P.C., & Santos, M. (2018). Macroeconomia – Exercícios. Edições Sílabo.
Teixeira, A., Silva, S., Ribeiro, A. & Carvalho, V. (2019). Fundamentos Microeconómicos da Macroeconomia, 5ª Edição. Livraria Vida Económica.
Teaching Methodologies and Assessment Criteria This course is composed by both theoretical and practical sessions. Each chapter starts with the explanation of the main theoretical concepts, this explanation being accompanied by mathematical formalization and the respective economic intuition. Then, we begin with the resolution of the exercises from the compilation materials and from the book. In the beginning of each exercise, the teacher explains its objectives and the skills to be acquired. A first exercise of each type is solved with a strong intervention from the teacher, calling for suggestions by students. Afterwards, students solve the exercises by themselves with tutorial support from the teacher. The continuous evaluation is composed by two written tests, each with a weight of 50%.
In order to be accepted for the final exam, students must obtain at least a grade of 6 in the continuous evaluation.
Language Portuguese. Tutorial support is available in English.
Last updated on: 2021-10-14

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