Download Principles of Macroeconomics – 45 h

Principles of Macroeconomics – 45 h. 3 US Credits
Description:
The aim of this course is help the beginning student master the principles essential for
understanding the economizing problem, specific economic issues, and the policy
alternatives, understanding and applying the economic perspective and reasoning
accurately and objectively about economic matters.
Topics:
1. Introduction:
• United States China and European Union
• The principal macroeconomic variables
• Short, medium and long run
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The Short Run:
The Goods Market
The Financial Markets
Goods and Financial Markets: The IS-LM Model
Decisions and Policy Mix
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The Medium Run
The labor Market
The AS-AD Model
Unemployment and the Phillips curve
Output Unemployment and Inflation
4.
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The Long Run
The determinants of growth
Saving, Capital Accumulation and Output
Technological Progress and Growth
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Expectations
Nominal and Real interest rates
Expected present discounted values
Financial markets and expectations
Consumption and Investment expectations
Monetary and Political policies: the role of expectations
6.
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Open Economy
Good and financial markets in an open context
Exchange rate regimes
Exchange rate movements and crises
7.
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Macroeconomic Policy (i): Monetary Policy
Inflation rate
Money Supply
Interest rate
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Macroeconomic Policy (ii): Fiscal Policy
Budget, deficit and taxes
Public debt and policy choices
Budget policy in USA and EU
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Macroeconomic Policy (iii): Solving Economic Crisis
Confronting economic crisis and depressions
Confronting high inflation situations
Innovation, competitiveness and sustainability
Methodology
Students are expected to actively participate in the classes, and to write 1 essay to be
assigned throughout the course. There will be a final exam on the discussed topics.
Assessment
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40% of the grade will be gained through the final exam
30% of the grade will correspond to written assignments
20% of the grade will be gained through oral presentations
10% of the grade will be given in accordance to the commitment shown within
the lectures (active discussion, participation, etc)
Bibliography
- Ahijado, Manuel: La Unión Económica y Monetaria Europea: mitos y realidades,
Pirámide, Madrid, 1998.
-Bergsten, Fred; Ruiz, José Juan, Euro y dolar, Caja Madrid-Biblioteca Nueva, Madrid,
1998.
-Blanchard, Macroeconomics Vth edition, Pearson International Edition, 2009
- Calvo Hornero, Antonia, Mecanismos financieros y moneda única, Pirámide, Madrid,
2000. (Presupuesto comunitario)
- Dehesa, Guillermo de la, Comprender la globalización, Alianza Editorial, Madrid,
2000.
- Fitoussi, Jean Paul, El debate prohibido, Paidós, Barcelona, 1996.
- Guerrero, Diego y otros, Macroeconomía y crisis mundial, Editorial Trotta, Madrid,
2000.
- Hidalgo, Diego y otros, Europa, globalización y Unión Monetaria, Siddarth Metha
Ediciones, Madrid, 1998.
- Jiménez, J. C., La economía española ante una nueva moneda: el euro, Civitas,
Madrid, 1998.
- Krugman, Paul, El retorno de la economía de la depresión, Crítica, Barcelona, 1999.
- Kutner, R. (2008): “The Copenhagen Consensus. Reading Adam Smith in
Danemark”, Foreign Affairs Vol. 87, number 2 March/April 2008
- Montes, Pedro, La historia inacabada del euro, Trotta, Madrid, 2001.
- Palazuelos, Enrique, Estructura económica de Estados Unidos. Crecimiento
económico y cambio estructural, Editorial Síntesis, Madrid, 2000.
- Palazuelos, Enrique, Grandes áreas de la economía mundial, Ariel Economía,
Barcelona, 2002.
- Rodríguez Ortiz, Francisco, “Crisis financiera y posibles incidencias en la Unión
Europea”, Finanzas y Contabilidad, Harvard Deusto, Bilbao, noviembre-diciembre
1998.
“La Unión Económica y Monetaria: impacto regional y perspectivas financieras”,
Cuadernos Europeos de Deusto, nº 20, Bilbao, 1999.
“La Unión Monetaria: solidaridad presupuestaria europea, disciplina presupuestaria y
cohesión social”, Revista de Estudios Europeos, nº 23, Valladolid, septiembrediciembre 1999.
“El euro: de sueño a pesadilla de Europa”, Finanzas y Contabilidad, Harvard Deusto,
Bilbao, enero-febrero 2001.
“La Unión Monetaria del siglo XXI: el dilema inflación-crecimiento lento”, Cuadernos
Europeos de Deusto, nº 24, Bilbao, marzo 2001.
“Del sobreendeudamiento y sobreinversión a la crisis de rentabilidad”, Harvard Deusto
Business Review, nº 105, noviembre-diciembre 2001.
- Stiglitz, Joseph, El malestar en la globalización, Taurus, Madrid, 2002.