The curricular unit on Macroeconomics aims to provide students with a basic range of analytical tools and practical to allow it to dominate modern techniques of analysis of macroeconomic problems. The course will emphasize the analysis of problems of economic policy in dynamic environments. Special attention is given to long-term analysis, as the problem of economic growth. Will be given also focus on a European vision of Macroeconomics, taking into account the importance of European institutions (European Union) for the economic development of Portugal. The student will understand the problem of economic growth, as well as the role of institutions in a macroeconomic context of the problem of economic growth, framed within the European Union.
• Introduction to the course; Review of some mathematical concepts, introduction to economic growth.
• Solow Model, Accounting for growth.
• Solow Model, empirical applications of neoclassical models of growth: Human Capital and Convergence Model (Mankiw, Romer and Weil).
• Economics of R & D and economic growth. Endogenous growth model of Romer.
• Models of economic growth and economic development. Social infrastructure and long-term growth. Endogenous growth models: Model Lucas (Human Capital). AK model.
• Natural resources and economic growth.
• Government and economic growth - Barro's model.
• Theory of Optimum Currency Areas: The Case of the Euro, and Portugal. Stability and Growth Pact. Budget constraint and public debt trajectory.
• Macroeconomic Institutions: Design of macroeconomic institutions, the problem of dynamic inconsistency.
The teaching methods used are based on expository, intuitive and active methods. Within the expository methods, we focus on theoretical classes, promoting whenever appropriate the dialogue with students. Within the intuitive method it’s used theoretical demonstration of several concepts. In the active method, we resort to individual or group projects, ensuring the proper assimilation of contents.
"Macroeconomia", McGraw Hill, 7ª Edição, Rudiger Dornbusch, Stanley Fischer e Richard Startz.
"Macroeconomia", Schaum´s ouTlines, 2ª Edição, Jorge Henriques dos Santos, Álvaro Pina, Jacinto Braga, Manuel Teixeira e Miguel St. Aubyn
"Introduction to Economic Growth", MIT Press, de Charles I. Jones, 2ª Edição “Macroeconomia, Uma Visão Europeia”, 5ª Edição, Oxford, Burda e Wyplosz