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Macroeconomic Analysis

Code 14162
Year 1
Semester S1
ECTS Credits 7,5
Workload OT(3H)/TP(30H)
Scientific area Economics
Entry requirements Knowledge of the main concepts and theoretical models of the short, medium and long-run Macroeconomics. Knowledge of mathematical analysis and time series, at an intermediate level.
Learning outcomes The general goal of the course is to consolidate and deepen the skills and knowledge of short, medium, and long-run Macroeconomics, with a special emphasis on its applications and policy implications. The course makes extensive use of intermediate-level mathematics, as well as time series. In particular, the purpose of the curricular unit is:
a) to familiarize students in the use of econometric techniques widely used in the recent literature of Macroeconomics;
b) to develop skills in data collecting and processing, as well as in developing applied research work;
c) enable students to understand and build theoretical and macroeconomic models.
Syllabus 1- Demand management policies in an open-economy framework
2- Government deficit and public debt
3- Labor market, the Phillips curve debate and the aggregate supply dynamics
4- The complete model: demand and supply economic policies
5- The business cycles: the New Keynesian Economics and the Theory of Real Business Cycles
6- The long run: from neoclassical growth models to endogenous growth theory
7- New frontiers for Macroeconomics
Main Bibliography [1] Barro, R. (1997), Macroeconomics – A Modern Approach, 6th Ed., Thomson South-Western.
[2] Barro, R. J. & Sala-I-Martin, X. (2003): Economic Growth, 2nd Ed., The MIT Press.
[3] Blanchard, O. & Fisher, S. (1993); Lectures on Macroeconomics, The MIT Press,
[4] Heijdra, B (2017); Foundation of Modern Macroeconomics, 3rd Ed., Oxford University Press;
[5] Maddala, G.S. & Kim, In-Moo (1999); Unit Roots, Cointegration and Structural Change, Cambridge University Press.
[7] Romer, D. (2011); Advanced Macroeconomics, 4th Ed., McGraw-Hill;
[8] Snowdon, B. & Vane, H. R. (1997): A Macroeconomics Reader, Routledge
[9] Turnovsky, S. (2000); Methods of Macroeconomic Dynamics, 2nd Ed., MIT Press.
Articles published in scientific journals in the topics uncovered by the course.
Teaching Methodologies and Assessment Criteria Lectures are organized around specific topics in each chapter, and they are complemented by an active learning strategy. This strategy relies on an autonomous work by students, which involves reading, analyzing, presenting and discussing scientific articles on the topics of the syllabus.
The expositive lectures involve the presentation of the relevant models, the explanation of the model’s motivations and hypotheses, the discussion of its main results, and the identification of its main policy implications. Some of the most employed estimation methods and techniques in Macroeconomics will also be presented.
The evaluation process is made up of two components: analysis and possible extension of an article (40%); one final test (60%). Alternatively, students will be allowed to take a single final exam (100%).
Language Portuguese. Tutorial support is available in English.
Last updated on: 2021-11-26

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