Principles of Macroeconomics
Objectives
This course investigates the macroeconomic environment in which the various economic agents operate. It aims to provide the basic concepts and tools of analysis for understanding the working of national economies and the global economy, exploring data alongside economic theory and the critical reading of economic reports/articles. It studies the behavior of macroeconomic aggregates, including cyclical fluctuations, the potential output and the reasons for the (un) successful economic growth of countries and the role of the institutional framework. Discusses and simulates the effects of economic policy, particularly monetary and fiscal policy. Also discusses the relationship between macroeconomics, financial system and financial assets. Furthermore, the open economy setup is studied, including the balance of payments, competitiveness and the exchange rate, ending with some notes on reasons, characterization and resolution of major international crises.
General characterization
Code
12928
Credits
3.0
Responsible teacher
Duarte Miguel Machado Carneiro de Brito
Hours
Weekly - 2
Total - 36
Teaching language
Português
Prerequisites
Available soon
Bibliography
Miles, D., Scott, A. and Breedon, F., 2012, Macroeconomics: Understanding the Global Economy, Wiley
Krugman, P., Obstfeld, M. and Melitz, M., 2018, International Economics: Theory and Policy, Pearson
Mishkin, E., 2016, Economics of Money, Banking and Financial Markets, Pearson
Dornbusch, R., Fischer, S. and Startz, R., 2017, Macroeconomics, McGraw-Hill
Mankiw, G., 2018, Macroeconomics, Worth Publishers
Williamson, S., 2018, Macroeconomics, Pearson
Sachs, J. and Larrain, F., 1993, Macroeconomics in the Global Economy, Pearson
Caves, R., Frankel, J. and Jones, R., 2007, World Trade and Payments: An Introduction, Pearson
Burda, M. and Wyplosz, C., 2013, Macroeconomics: A European text, Oxford University Press
Carlin, W. and Soskice, D., 2014, Macroeconomics: Institutions, Instability, and the Financial System, Oxford University Press
Teaching method
Available soon
Evaluation method
Available soon
Subject matter
1. I. National Accounts, data and concepts
2. Economic growth, aggregate supply and the labor market and unemployment
3. Consumption, Savings and Investment
4. Money, Prices and Monetary Policy
5. Fiscal policy
6. Business cycles and stabilization
7. Financial system, assets and debt
8. Open economy, balance of payments and exchange rate
9. Foreign trade and capital movements
10. Globalization