Intermediate Macroeconomics

Recommended Prerequisites

Macroeconomics, mathematics and econometrics at the level of a BA in economics and English at the independent user level in reading

Teaching Methods

- Lectures: presentation of fundamental contents.

- Practical classes: exercise solving and presentation and discussion of 2 papers.

Learning Outcomes

Provide students the knowledge on how to use modern macroeconomics methodology, through formal mathematical analysis, complemented with graphical analysis and intuitive explanations of the model’s results. Nevertheless, modelling is still done in discrete time, as opposed to the more advanced courses in macroeconomics, in which it is done in continuous time. At the end of the program the student should be able to use these models to explain the stylized facts of macroeconomic, confront theories with empirical data, highlighting recent macroeconomic events; ensure coherence between long and short run analysis; and to discuss in a rigorous and consistent way their implications for economic policy.

Work Placement(s)

No

Syllabus

1. Some facts about unemployment

2. Efficiency wages and unemployment

3. Trade unions and unemployment

4. Some facts about business cycles

5. Investment and asset prices.

6. Consumption, income and wealth.

7. Monetary policy and aggregate demand

8. Inflation, unemployment and aggregate supply

9. Explaining business cycles

10. Stabilization policy

Head Lecturer(s)

Maria da Conceição Costa Pereira

Assessment Methods

Final Assessment
Exam: 100.0%

Continuous Assessment
Presentation and discussion of 2 papers: 30.0%
Frequency: 70.0%

Bibliography

Manual principal | main textbook:
SORENSEN, Peter Birch e Hans Jorgen Whitta-Jacobsen, Introducing Advanced Macroeconomics: Growth and Business Cycles. 2nd ed. London: McGraw-Hill Education, 2010.
Outros manuais complementares | complementary books:
BLANCHARD, Olivier Jean e Stanley Fischer – Lectures on Macroeconomics. Cambridge, Mass.: MIT Press, 1992.
CARLIN, Wendy e David Soskice – Macroeconomics: Imperfections, Institutions, and Policies: Imperfections, Institutions and Policies. Oxford: Oxford University Press, 2005.
HEIJDRA, Ben J., Frederick van der Ploeg – The foundations of modern macroeconomics. Oxford: Oxford University Press, 2002.
MINFORD, Patrick; David Peel – Advanced Macroeconomics: A Primer. Edward Elgar Publishing Ltd, 2002.
ROMER, David – Advanced macroeconomics. 4th ed. Boston: McGraw-Hill/Irwin, 2011.
WILLIAMSON, Stephen D.– Macroeconomics. Pearson Education; 4th ed., 2010.