Macroeconomics (2225.YR.006147.1)

General information

Type:	BAS	Curs:	1	Period:	S semester
ECTS Credits:	5 ECTS

Teaching Staff:

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

Upon successfully completing this course, students should:
1) Have acquired the necessary knowledge and tools to be able to analyse and interpret real situations from an economic perspective and
2) Be able to critically examine the ways in which aggregate economy and macroeconomic policies function, all the while considering issues related to social responsibility.

Based on these global objectives, we will aim to achieve a series of specific objectives linked to various competences:

A. Present reference frameworks, theories and tools as well as the key information for their use when analysing different scenarios/case studies and when proposing measures/ solutions to improve them.
B. Enable the definition of concepts, theories and models.
C. Promote the integration and structuring of the knowledge acquired in the course by completing assignments designed for this purpose.
D. Promote a critical approach to the analysis of real scenarios, above all in Economics.

1. Introduction to Macroeconomic Variables Introduction to Macroeconomics. National accounting. Inflation and deflation. Unemployment.

2. Fiscal Policy Public sector accounts. Fiscal policy instruments and objectives. Public deficit and public debt

3. The Goods Market Determining the production-income equilibrium. The effect of fiscal policy, like changes in government spending and taxation.

4. The Financial Market The banking system. Implementing monetary policy. Conventional and unconvential monetary policies.

5. The IS-LM Model Analysis of the effects of fiscal and monetary policies. "Crowding out" effect. Accommodating policies. Financial markets and expectations.

6. The Aggregate Supply and Demand Model Analysis of the effects fiscal and monetary policies have on production and equilibrium price leves. Supply policies. Supply and demand "shocks"

7. The Macroeconomic Challenges in the Post-Covid World The role of large government debt. The revision of the strategy of the main central banks, and the resurgence of inflation. The challenges of low interest rates and the zero lower bound.

Blanchard, O , Amighini, A. & Giavazzi, P.; Macroeconomics. A European Perspective (3rd edition). Pearson, 2017

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