Advanced Macroeconomics

ADVANCED MACROECONOMICS

ECTS 12

Description
This course aims at covering the most important topics in modern macroeconomics.
The first half of course presents the theories of consumption, investment and economic growth. The focus will be on the microfoundations of modern
research and on the advanced analytical tools needed for carrying out dynamic analysis, both in continuous and discrete time. All theories will be
discussed in light of empirical evidence.
The second half course is designed to introduce the student to the analysis of economic fluctuations, considering the implications of the different theories
on macroeconomic policies. Particular attention is devoted to examine how sluggish adjustment of nominal prices and wages can have real effects in
face of anticipated or unanticipated monetary and real changes.
The microfoundations of prices and wages nominal rigidity are carefully.
considered. The macroeconomic role of imperfect competition in determining macroeconomic second best equilibrium is carefully examined.

Course outline
1. Theories of economic growth
2. Overlapping generation models
3. Models of dynamic consumption and investment
4. Real-business-cycle theory
5. Keynesian theories of fluctuations
6. Labour market models