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

Presentation of fundamental contents; exercise solving and discussion of 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

Assessment
Periodic or by final exam as given in the course information: 100.0%

Bibliography

HEIJDRA, Ben J. - Foundations of modern macroeconomics. 2nd ed.. Oxford : Oxford University Press, 2009.
ROMER, David — Advanced macroeconomics. 4th ed. New York : McGraw-Hill/Irwin, 2012.
SORENSON, Peter Birch ; WHITTA-JACOBSEN, Hans Jorgen — Introducing advanced macroeconomics : growth and business cycles. 2nd ed. London : McGraw-Hill Higher Education, 2010.
WILLIAMSON, Stephen D. – Macroeconomics. 5th ed. Boston : Pearson; 2014.