Macroeconomics II

Code:

1GE211

Acronym:

MAC II

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2021/2022 - 2S

Active?	Yes
Responsible unit:	Agrupamento Científico de Economia
Course/CS Responsible:	Bachelor in Business Administration

Cycles of Study/Courses

Acronym	No. of Students	Study Plan	Curricular Years	Credits UCN	Credits ECTS	Contact hours	Total Time
LGES	274	Bologna Syllabus since 2012	2	-	6	63	162

Teaching language

Portuguese

Objectives

The overall objective of the discipline of Macroeconomics II of the Management degree is that students develop the ability to understand and analyze economic phenomena in a macroeconomic perspective, including issues on investment decisions, labour markets, financial external accounts instruments, and transmission mechanisms of economic policies, particularly in the context of the European Union.

Learning outcomes and competences

At the end of the course the student should be able to analyze and understand the phenomena associated with consumption and investment, labour markets and financial, external accounts, instruments and transmission mechanisms of economic policies.

Working method

Presencial

Program

1. The Labour Market
1.1. Facts about employment / unemployment in Portugal
1.2 Demand and supply in the labor market
1.3. Static interpretation of unemployment
1.4. Dynamic interpretation of unemployment
1.5. The unemployment equilibrium rate

2. Budgetary Constraints, Consumption and Investment
2.1. Facts on consumption and investment in Portugal
2.2. Intertemporal budget constraint
2.3. Determinants of investment

3. Intertemporal Government Budget Constraint and the Public Accounts
3.1. Facts on the public accounts in Portugal
3.2. Macroeconomic stabilization
3.3. Intertemporal Budget Constraint of the Government
3.4. Ricardian Equivalence Principle

4. Intertemporal Budget Constraint of the Nation, Current Account and Real Exchange Rate
4.1. Facts about the external accounts in Portugal
4.2. The Current Account and the Intertemporal Budget Constraint of the Nation
4.3. The Real Exchange Rate and the Current Account

5. Currency and Financial Markets
5.1. Markets, financial institutions and instruments. Statistics. Concepts Currency
5.2. Money demand
5.3. Money supply
5.4 Currency and Inflation
5.5 Inflation and interest rate
5.6 Inflation, interest rate and exchange rate

6. Monetary Policy in the Euro Area
6.1 European Union and Euro Area: brief historical overview
6.2 ECB and Eurosystem: institutional framework
6.3 The adoption of the Euro: convergence criteria, benefits and costs
6.4 ECB's monetary policy
6.5 Monetary policy and financial stability

Mandatory literature

Aurora A. C. Teixeira, Vitor Manuel Carvalho, Sandra Tavares Silva e Ana Paula Ribeiro; Fundamentos Microeconómicos da Macroeconomia. Exercícios resolvidos e propostos, Vida Económica, 2019. ISBN: 9789897685521

Complementary Bibliography

Michael Burda and Charles Wyplosz; Macroeconomics: a European Text, Oxford University Press, 2017. ISBN: 9780198737513

Teaching methods and learning activities

Theoretical and applied classes.

Evaluation Type

Distributed evaluation without final exam

Assessment Components

Designation	Weight (%)
Teste	100,00
Total:	100,00

Amount of time allocated to each course unit

Designation	Time (hours)
Estudo autónomo	99,00
Frequência das aulas	63,00
Total:	162,00

Eligibility for exams

- Distributed evaluation without final exam:

i) 6 Multiple-choice mini-tests focusing on the theoretical part of each of the program chapters (34% of the final classification).
ii) 2 Presential Tests  (2 * 33% = 66% of the final classification).
iii) DATES: to be announced.
iv) MINIMUM GRADE: students cannot have a grade inferior to 6,0 points (out of 20) in each of the presential tests. No minimum grade is required for the mini-tests.
v) BINDING - the student is bound to the distributed evaluation with the handle of the 2nd test;
vi) ATTENDANCE SCHEME - access to distributed evaluation implies the presence in at least 75% of the classes effectively lectured.


OR

- Assessment by final exam.

Calculation formula of final grade

In distributed evaluation:

Final grade = 0,34*average mini-tests grade+0,33* 1st test grade + 0,33* 2nd test grade

Special assessment (TE, DA, ...)

According to FEP's evaluation regulations.

Classification improvement

According to FEP's evaluation regulations.