MACROECONOMIC THEORY AND POLICY

SECS-P/02 - 9 CFU - 1° Semester

Teaching Staff

ALESSIO EMANUELE BIONDO
Email: ae.biondo@unict.it
Office: Palazzo delle Scienze, Corso Italia 55, 95129 Catania
Phone: +390957537773
Office Hours: MAR 14.00-16.00; GIO 12:00-14:00


Learning Objectives

1. Knowledge and understanding:

The course aims to present the most relevant literature of macroeconomic analysis. Theoretical models and actual policy implementations will be discussed by comparing different approaches from the methodological and the political point of view.

2. Applying knowledge and understanding:

The course aims to develop the ability of students to handle macroeconomic models and assess different policy addresses. This will contribute to develop their consciousness in the field of macroeconomics.

3. Making judgments :

Macroeconomic models and their policy application have profound ideological underpinnings. The course aims to strengthen students’ awareness on most of the epistemological roots of macroeconomic theories, thus enabling them to develop the attitude to identify policy objectives, policy instruments and their applicability range.

4. Communication skills:

The course aims also to provide students with the opportunity to learn specific technical language for macroeconomic analysis.

5. Learning skills:

The course will give the opportunity to understand how to frame and discuss both theoretical and applied macroeconomic topics, thus improving the ability to learn further related concepts.


Course Structure

Lectures



Detailed Course Content

Understanding modern macroeconomics; Keynes v. the ‘old’ classical model; The orthodox Keynesian school; The orthodox monetarist school; The new classical school; The real business cycle school; The new Keynesian school; The Post Keynesian school; The Austrian school; The new political macroeconomics; The renaissance of economic growth research; Conclusions and reflections; Emergent Macroeconomics: Crucial Issues; Stylized Facts of Industrial Dynamics: Firms's size, Income and Productivity; An Agent-based Model; Where Do We Go from Here? Towards a new bottom-up paradigm for Macroeconomics.



Textbook Information

1. Snowdon B., Vane H.R., Modern Macroeconomics - Its Origin, Development, and Current State, Edward Elgar 2005.

2. Delli Gatti D., Gaffeo E., Gallegati M., Giulioni G., Palestrini A., Emergent Macroeconomics, Springer, 2008.




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