Syllabus Information

5.3. Syllabus

Part 1: Open economy:

Lesson 1: Open economy models

1.- INTRODUCTION

Behaviour funtions of the foreign sector and equilibrium  conditions

Exchange rate and capital mobility regimes

The small country hypothesis

2.- MUNDELL-FLEMING MODEL

Eqcuations of the model

Funtions for the resolution and utilization of the model

Results of the model depending of the regimes of exchange rate and capital mobility

3.- PURCHASING POWER PARITY HYPOTHESIS

4.- DORNBUSCH’S OVERSHOOTING MODEL

5.- BUITER-MILLER’S MODEL

Part 2: Business cycles:

Lesson 2: Competitive business cycles

1.- COMPETITIVE BUSINESS CYCLES MODELS: The new classical macroeconomy and the real busines cycles

2.- THE NEW CLASSICAL MACROECONOMY AND THE HYPERINFLATIONS

3.- SPECULATIVE BUBLES AND THE BUSINESS CYCLES

4.- RATIONAL EXPECTATIONS AND LEARNING

5.- ECONOMIC POLÍCY ASPECTS. Dynamic inconsistency and reputation

6.- BLANCHARD’S MODEL OF LIMITED RATIONALITY

Lesson 3: Business cycles with rigidiities in the markets: good markets

1.- CAUSES OF THE PRICE STICKINESS IN THE GOOD MARKET: Staggered contracts, imperfect competition and menu costs

2.- AN ILLUSTRATION OF THE BUSINESS CYCLES ORIGINE WITH  STAGGERED PRICES AND IMPERFECT COMPETITION.

3.- CALVO’S STAGGERED PRICE MODEL  

4.- THE CURRENT MONETARIA POLITICY AND THE TAYLOR RULE

Lesson 4: : Business cycles with rigidiities in the markets: labour market

1.- STICKY PRICES IN THE LABOUR MARKET: Efficiency wages

2.- TAYLOR`S MODEL OF STAGGERED WAGES

3.- OTHER MODELS OF STAGGERED WAGES

4.- EQUILIBRIUM UNEMPLOYMENT RATE: The dynamics of the vacants and the Beveridge curve. The matching function.

Part 3: Economic growth:

Lesson 5: Economic growth models

1. THE RAMSEY MODEL

1.1. The Ramsey model without  technical progress

1.2. The Ramsey model with  technical progress

2. ONE SECTOR ENDÓGENOUS GROWTH MODELS: Externalities and AK models

2.1. Romer model with capital externality

2.2. Barro model of public expenditure

3. TWO SECTORS ENDÓGENOUS GROWTH MODELS

3.1. Human capital: The Lucas model

3.2. Research and development: The technological change model of Romer