Insegnamento a.a. 2025-2026

Classes: 44 (II sem.)

Instructors:
Class 44: PATRICE DE MICCO

Students are expected to have a basic understanding of introductory Microeconomics, including key concepts such as demand and supply, market equilibrium, competition and market power, as well as labor supply. They should also be familiar with finding, reading, and interpreting economic and financial information, news, and data from reliable sources.

The course introduces students to the core principles and tools of macroeconomic analysis, offering a structured framework to understand how modern economies function and evolve. It examines the behavior and interdependence of key aggregate variables—such as output, employment, inflation, interest rates, and exchange rates—and the role of fiscal and monetary policies in shaping economic outcomes. By emphasizing analytical reasoning and evidence-based evaluation, the course trains students to interpret macroeconomic data, assess policy choices, and critically understand the forces driving national and global economic dynamics. It ultimately aims to equip students with the conceptual foundations and problem-solving skills needed for advanced study and for informed participation in an interconnected economic environment.

Here is a list of some of the topics covered in the course:

 

• GDP
• Inflation
• Unemployment
• The goods market
• Financial markets
• Fiscal policy:  government spending, taxation, and budget deficits/surpluses.
• Monetary policy: central banking, money supply, and interest rates.
• Open Economy: exchange rates, balance of payments. trade policies and their macroeconomic implications.

 

 

 

 

At the end of the course student will be able to...

At the end of the course, students will be able to:

• Define and interpret key macroeconomic concepts, including GDP, inflation, unemployment, interest rates, and exchange rates.

• Understand how the main macroeconomic variables are defined, measured, and interconnected.

• Explain the functioning and interaction of the goods, labor, and financial markets.

• Illustrate the determinants of output, inflation, and unemployment in the short and medium run.

• Analyze the macroeconomic effects of monetary and fiscal policies, as well as those of external and domestic shocks.

• Evaluate the role of governments and central banks in addressing macroeconomic challenges and stabilizing the economy.

At the end of the course student will be able to...

 

Students will be able to:

• Apply macroeconomic models to solve quantitative and qualitative problems and interpret real-world scenarios.

• Assess economic trends and policy impacts using macroeconomic data, indicators, and evidence.

• Interpret macroeconomic data to evaluate economic performance and forecast likely developments in key variables.

• Analyze the effects of monetary policy decisions on interest rates, demand, and income, and the effects of fiscal policy announcements and other shocks on macroeconomic outcomes.

• Critically evaluate economic policies, discussing their potential short- and long-term implications.

• Communicate macroeconomic reasoning and results effectively in written and oral form.

• Collaborate in group discussions to interpret and debate relevant economic issues.

• Transfer and adapt macroeconomic tools to understand evolving national and international contexts.

 

Throughout the course, students will engage with real-world macroeconomic problems and contemporary developments in the European and global economic landscape.

• Lectures
• Practical Exercises
• Collaborative Works / Assignments

Throughout the course, students will have the opportunity to address real-world macroeconomic problems related to the current European and international economic landscape.

 

Students will have the opportunity to collaborate in teams to explore and analyze a current macroeconomic topic. This group activity will encourage the development of teamwork and communication skills while fostering critical thinking and problem-solving abilities. By working together, students will research real-world data, apply theoretical models, and present their findings, enabling them to connect classroom learning with practical economic challenges. This experience will also prepare students to engage effectively in professional environments where collaboration and analytical skills are essential.

	Continuous assessment	Partial exams	General exam
Written individual exam (traditional/online)		x	x
Collaborative Works / Assignment (report, exercise, presentation, project work etc.)	x

A comprehensive written exam — including multiple-choice questions, essay-type questions, and analytical exercises — will cover all topics discussed in class. This examination format assesses students’ ability to define and explain macroeconomic concepts, apply theoretical models to real-world situations, and critically analyze economic issues. It evaluates both their mastery of the material and their capacity to communicate complex ideas effectively in written form.

 

The group project, in which students work together to analyze a current macroeconomic issue in the European or international context, allows them to apply theories and models to practical problems and present their findings. This activity assesses students’ ability to collaborate, use data and evidence, and develop analytical and problem-solving skills. It also evaluates communication skills, as students are required to present results clearly and effectively.

Participation in the group project allows students to earn extra point(s); however, these extra point(s) are not valid for the September exam session.

O. Blanchard, A. Amighini, F. Giavazzi, Macroeconomics – A European Perspective, 4th Edition, Pearson Education Limited, 2021.

 

In addition to the main textbook, the instructor will provide supplementary materials, including:

 

• Lecture slides and handouts, available on the course platform, covering the key concepts discussed in class.

• Online resources, such as recommended websites, academic papers, and articles on current macroeconomic issues, to help students stay informed about ongoing economic developments and policy debates.

 

Further details on supplementary materials will be communicated during the course.