The goal of unity of Macroeconomics I subject is to provide students with practical and analytical tools that allow them to thorough knowledge of modern techniques of analysis of macroeconomic problems. This course will emphasize the analysis of economic policies, especially fiscal and monetary policies in small open economies (such as the Portuguese economy).
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 the level of the second year of degree.
I - Introduction
Macroeconomic Accounts
II - Labor Markets and Unemployment
Supply/Demand
Unemployment: static/dynamic
Equilibrium Rate
III - Timeless budgetary constraints
Expectations
Families, Public and Private Sector
Current Account Transactions
IV - Private Sector, Exchange Rate
Consumption and Investment
Real Exchange Rate
V – Money Demand/Supply and Monetary Policy
Short and long term equilibrium
Open Economy´s Monetary Policy
Government´s Monetary Financing
VI - Product, Employment, Prices and Aggregate Demand
General equilibrium: IS / LM with flexible/fixed pricing
Product and Interest Rate in Fixed/Flexible Exchange Rate
VII - Aggregate Supply, Inflation and AS/AD
Phillips Curve
Inflation, unemployment and output
VIII - Fiscal Policy and Debt
Macroeconomic Stabilization
Deficit Financing
IX - Limits in the Administration of Search
Debate: monetarists and Keynesians
Lucas critique
X - The Asset Market and Macroeconomics
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.
"MACROECONOMIA – UMA ABORDAGEM EUROPEIA”, LTC, 3ª EDIÇÃO (2005), BURDA, M.C. E WYPLOSZ C.
"MACROECONOMIA", MCGRAW HILL, 8ª EDIÇÃO (2003), RUDIGER DORNBUSCH, STANLEY FISCHER E RICHARD STARTZ.
"MACROECONOMIA", SCHAUM´S OUTLINES, 2ª EDIÇÃO (2001), JORGE HENRIQUES DOS SANTOS, ÁLVARO PINA, JACINTO BRAGA, MANUEL TEIXEIRA E MIGUEL ST. AUBYN
0104649
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