Macroeconomics I

Code:

1GE204

Acronym:

MAC I

Keywords
Classification	Keyword
OFICIAL	Economics

Instance: 2022/2023 - 1S

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	321	Bologna Syllabus since 2012	2	-	6	63	162

Teaching language

Portuguese

Objectives

The main purpose of the course is to provide a detailed description of key macroeconomic and financial variables and make clear how they relate with each other. Particular focus is given to the underlying sources of cyclical fluctuations and countercyclical macroeconomic policies.

Learning outcomes and competences

The student should be able to (1) compute economic and financial indicators, such as inflation rates, unemployment rates, balances of the balance of payments, nominal and real effective exchange rates, GDP, output gap, Net International Investment Position and other national accounts indicators; (2) interpret the mentioned indicators; (3) describe the impacts of shocks on key financial and economic variables; (4) describe the impacts of macroeconomic policies on key financial and economic variables.

Working method

Presencial

Program

1. Introduction
1.1. The scope of Macroeconomics
1.2. Long-run growth vs cyclical fluctuations
1.3. GDP and (un)employment
2. The main macroeconomic variables
2.1. Inflation rate
2.2. Balance of Payment and International Investment Position
2.3. Exchange rates and exchange rate regimes
2.4. National accounting
3. Macroeconomic fluctuations with sticky prices
3.1 The basic keynesian model
3.2. The IS-LM model
3.3. Stabilization policies
4. Macroeconomic policies with flexible prices: The AS-AD model
4.1. The aggregate demand function
4.2. The aggregate supply functions
4.3. Stabilization policies

Mandatory literature

Michael Burda e Charles Wyplosz; Macroeconomics: A European Text (7th edition), Oxford University Press, 2017

Complementary Bibliography

António Pinto Barbosa; Macroeconomia, Fundação Calouste Gulbenkian, 2012
Jorge Santos; Álvaro Pina; Jacinto Braga; Miguel St. Aubyn; Macroeconomia, Escolar Editora, 2016

Comments from the literature

Along the course, a set of papers is delivered to the students.

Teaching methods and learning activities

Theoretical and applied classes based on illustrative cases and discussion of statistical data. Applied problems will also be solved during the semester.

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	103,50
Frequência das aulas	58,50
Total:	162,00

Eligibility for exams

All students have access to the continuous evaluation.

Calculation formula of final grade

Continuous evaluation consists of 2 written tests.

 

Special assessment (TE, DA, ...)

The exams in special seasons may take the form of oral exams.

Classification improvement

Through an exam.