This course aims to provide the basic principles of macroeconomics, with an emphasis on open-market economies. It is intended that students become acquainted with basic concepts and master the key aspects of its practical use. With an integrated view of macroeconomics, will be able to discuss the economic balance of three markets in terms of action - of goods, financial and labor - using models developed to explore a set of accounts and economic aggregates.
The students should acquire knowledge regarding the understanding of the issues mentioned above, with intuitive graphical approach. It should also be familiar with all the models presented and, in some cases with the respective mathematical formalization. Analyses characterize by a degree of depth through an introductory level.
I – Macroeconomics
Markets and Government
Supply/Demand
II - Aggregate Economic
National accounts
Price index and inflation
III - Goods market
GDP Composition
Multiplier model
Equilibrium product
IV – Currency: Monetary Authority and Commercial Banking
Currency and interest rate
Banking and money supply
Supply/Demand: money multiplier
Monetary policy on output and prices
V - Goods and Financial Markets: IS-LM
Goods market: IS
Financial market: LM
VI - Unemployment and Aggregate Supply
Labor market´s equilibrium
Aggregate supply: short and long-term
VII - Aggregating markets: AS-AD
Balance in the short and medium term
VIII - Inflation and Unemployment
Expected inflation and unemployment
Philips Curve
IX - Economic Growth
Process/sources of economic growth
Product, capital and technological progress
X - Open Economy Macroeconomics
Foreign trade and economic activity
Competitiveness and comparative advantage
This course develops a weekly split in a classroom lecture and practice, and the latter provides the follow-up / sedimentation of the matters discussed above. Both the lecture and the practical lessons are made available to students in the platform for this purpose (moodle.uac.pt).
To mention also the fact that it is available to all students, at their discretion, a 1 hour weekly schedule to clarify any questions or concerns related to the discipline.
(principal/main) BLANCHARD, OLIVIER, MACROECONOMIA, PEARSON-PRENTICE HALL DO BRASIL, 4ª EDIÇÃO, 2006
(complementar/complementary) SAMUELSON, PAUL A. E NORDHAUS, WILLIAM D., ECONOMIA. MCGRAW HILL, 18ª EDIÇÃO, 2005.
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