Macroeconomics (2235.YR.006143.4)

General information

Type:	OPT	Curs:	1	Period:	S semester
ECTS Credits:	6 ECTS

Teaching Staff:

Group	Teacher	Department	Language
Year 1	Omar Rachedi	Economía, Finanzas y Contabilidad	ENG

The course Macroeconomics is part of the training in Economics required for all GDL undergraduate students, so it shares the following contributions with the subjects provided by the Department of Economics, Finance, and Accounting:

1. Develop students' analysis ability, mental acumen, and critical outlook concerning problems and economic relationships between companies and their environment.

2. Provide the highest level of professional training and the information required for future professionals in the business or management fields.

Upon completing this course, students will:

a) Have acquired the core knowledge and tools to undertake analyses and offer interpretations from an economic perspective, and
b) Be capable of critically engaging with the functioning of the markets and the economy while bearing in mind questions related to social responsibility.

Drawing on these global objectives, we will also address a series of specific goals linked to the development of several competencies:

A. Present frames of reference, theories, and tools, as well as key factors for their use in analyzing scenarios/case studies and in proposing measures/solutions for their improvement.
B. Facilitate the definition of concepts, theories, and models.
C. Promote the integration and structuring of knowledge acquired in the course through tasks designed for this purpose.
D. Promote a critical attitude when analyzing real situations, especially economic ones.

In general terms, Macroeconomics studies the structure and performance of national economies and the policies implemented by governments in their interactions with consumers, businesses, and financial market participants.

This course will introduce the language and essential tools macroeconomists and policymakers use. We will seek to understand issues such as: how economic activity grows over time and how to measure its evolution, how many jobs are created or destroyed, how overall prices will change, the relationship between an economy and the rest of the world, or the role of monetary and fiscal policies.

1. Introduction. Macroeconomic Variables. Introduction to Macroeconomics. Growth and Fluctuations. National Accounting. Inflation and Deflation. Unemployment.

2. The Public Sector. The Keynesian Model. The Budget of the Public Sector. Fiscal Policy: instruments and goals. Public Deficit and Public Debt. The Keynesian Model: the equilibrium income and the multiplier of public expenditure.

3. The Financial Sector. Central Banks and Monetary Policy. The Banking System. The role of the Central Bank. Implementing Monetary Policy. Conventional and Unconventional Monetary Policy.

4. The IS-LM Model: Monetary and Fiscal Policy in the Short Run. Analysis of the effects of Fiscal and Monetary Policies on income and interest rates. The crowding-out effect. Accommodative Policies.

5. Aggregate Demand and Supply. Analysis of the effects of fiscal and monetary policies on income, interest rates, and prices. Supply Side Policies. The effects of Supply and Demand shocks on production and inflation.

6. The Economy in the Long-Run The aggregate production function. Technology and Labor productivity. Determinants of economic growth.

Macroeconomics is a conceptual course that requires dedication, effort, and analysis.

NOTE: 80% attendance is strictly compulsory for all students.

The practice seminars will be used to solve a Problem Set for each topic. The documents will be posted on campus and considered when preparing for the midterm and final exams.

The class webpage on Moodle is the primary communication channel for study materials, grades, class information, exam information, homework, etc. Email may also be used for communication, so make sure your ESADE email is functional.

You are encouraged to regularly visit the class web page throughout the semester and check the latest announcements and materials.

ASSESSMENT BREAKDOWN

Blanchard, Olivier. Macroeconomics. Pearson, 2016
Blanchard, Amighini & Giavazzi. Macroeconomics: A European Perspective, Pearson, 2017
Krugman, P. R., & Wells. Macroeconomics. Worth Publishers, 2021.
Mankiw, Gregory. Macroeconomics, Worth Publishers, 2018.

Group	Teacher	Department
Year 1	Omar Rachedi	Economía, Finanzas y Contabilidad