ADVANCED MACROECONOMICS | Università degli studi di Bergamo


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Didattica Convenzionale
Secondo Semestre
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Those required by the degree programme.

Educational goals

The course is meant to provide an overview and a critical understanding of Macroeconomic theories and policies in a perspective of complexity. Its structure is built in order to give strong conceptual foundations about the working of the macroeconomy in a historically evolving (social and monetary institutional) setting.
Given the width of Macroeconomics, some approaches will be privileged as selective focuses. A number of theories will be presented according to their historical appearance. Nevertheless the purpose of this excursus is to highlight the role each theoretical perspective gives to the key variables of macroeconomics (income, employment, currency, interest rate, exchange rate): the course aims to make the student able to learn how a macroeconomic synthesis is built starting from the selection of simplifying foundations, which may turn out “critical” to the understanding of real world dynamics.
Three are the logical cornerstones of the course structure, as well as three the related educational targets.
1. Methodological: basic introduction to the relationship among macroeconomics and complexity. 2. Theoretical and Analytical: illustrate some reference basic macroeconomic theory, showing its internal structure, the equilibria it implies and the dynamics it produces either endogenously or as an effect of exogenous shocks..
3. Empirical: illustrate the methodologies, questions, results and the controversial issues arising from the most recent empirical literature on macroeconomics.
At the end of the course the student is supposed:
1. (method): to gain a critical understanding of the topics presented during the lectures; he is also expected to learn how different methodological premises, can lead to very different implications. 2. (theory): to know the pillars of standard macroeconomic literature, but also the relevant literature on endogenous fluctuations due to financial disturbance.
3. (analytics /empirics): to gain the elementary knowledge and analytical skills related to basic macroeconomic modeling with focus on financial instability.
The course Students will be able to recognize the plurality of economic discourses, to assess economic policies, and to develop critical thinking and autonomous judgements. Given the methodological characterization of the course, they should acquire general tools/skills, suitable to advance in the field of scientific research with a focus on macroeconomics.

Course content

1. A Brief Overview of the Economic History and the Rise of Capitalism;
2. Sectoral Accounting and the Flow of Funds;
3. Money and Banking, and the role of Government;
4. Main macroeconomic approaches
5. Recent Policy Debates. Macroeconomics in the Light of the Global Financial Crisis, the European Crisis and the Covid-Pandemics.

Teaching methods

Lectures, Power Point, Videos, Seminars, E-learning.

Attendance, though not compulsory, is strongly recommended, and will be monitored.

Assessment and Evaluation

The evaluation process is made by different steps, meant to assess different skills by students: knowledge of relevant literature, synthesis, critical thinking.
(1) Class presentation or assignment (30% of the score). . Each individual presentation is supposed to last 15 minutes. Students who are not attending the classes are supposed to contact the professors in order to have directions for an alternative/equivalent accomplishment.
2) Final exam (70% of the score).

Further information

If the teaching is taught in mixed mode or remotely, changes can be made compared to what is stated in the syllabus to make the course and exams accessible also in these ways