Syllabus Information

5.1. Methodological overview

The learning process developed for this subject is based on:

   1. Participative master classes. The professor will explain the basic contents of the subject proposing questions to help the students assimilate the contents correctly. Students should complement these explanations with the recommended bibliography.

   2. Practical classes. Students will solve practical exercises under the supervision of the professor. The groups will be split for these classes to facilitate the students’ participation and a more personalized attention from the professor

5.2. Learning tasks

In order to achieve the expected results, the activities that must be followed in this course are:

1:Theoretical Classes: Credits: 1,2

Methodology: Class attendance and participative solving of problems.

2:Practical Clases: Credits: 1,2

Methodology:  Class attendance, problem solving and case studies applying specific technical tools.

3:Tutorials and seminars: Credits: 0,6

Methodology:  Tutorial and complementary activities.

4:Personal Work: Credits: 3

Methodology: Exercise solving. Using ICT. Preparing work projects and exams.

5.3. Syllabus

Part one: Mid and long-term economics

Chapter 1: Inflation and unemployment. Mid-term and economic cycles

Economies as time goes by. The Phillips Curve . Mid-Term and Natural Unemployment rate. Dynamic Supply and Dynamic Demand. Rational Expectations

Chapter 2: Long-term growth.

The facts of Growth. The Solow model. Sources of growth. Growth Accounting

Part two: Open economy

Chapter 3: Currency markets and exchange rates

Nominal and Real Exchange Rates. Supply and Demand for foreign currency. Fixed and Flexible exchange rate systems. Equilibrium in the foreign currency market: the BP function

Chapter 4: Open economy model. Mundell-Fleming

Goods Markets and Financial Markets. Fixed exchange rate. Foreign currency markets and policy. Interventions. Fiscal, Monetary and Exchange Rates Policies. Flexible Exchange rates: Fiscal and Monetary Policies

5.4. Course planning and calendar

The calendar for in-class teaching sessions will be published on the web page of the faculty. The order of the different activities throughout the course will be explained in class by the professor at the beginning of the course and published on the web page. The approximate distribution of hours of in-class learning (theoretical and practical) for the different chapters is given by the following schedule:

5.5. Bibliography and recommended resources

[BB: Bibliografía básica / BC: Bibliografía complementaria]

• [BB] Blanchard, Olivier. Macroeconomía / Olivier Blanchard, Alessia Amighini y Francesco Giavazzi ; traducción y revisión técnica, Esther Rabasco Espáriz, Luis Toharia Cortés . [5ª ed.] Madrid, [etc.] : Pearson Educación, D.L. 2012
• [BB] García Castrillo, Pedro. Macroeconomía II / autor: Pedro García Castrillo . [Zaragoza] : Digicopy, (ca. 2015)
• [BC] Dornbusch, Rudiger. Macroeconomía / Rudiger Dornbusch, Stanley Fischer, Richard Startz . 12ª ed. Madrid : MacGrawHill Education, cop. 2015
• [BC] Mankiw, N. Gregory. Macroeconomía / N. Gregory Mankiw ; traducción de Mª Esther Rabasco . - 8ª ed. Barcelona : Antoni Bosch, [2014]