•GUIDA ECONOMIA 07-08 - Università degli studi di Udine

214 prospectus udine
ics, Addison-Wesley, Boston, 2005.
- P. DE GRAUWE, Economia dell’Unione
Monetaria, Il Mulino, Bologna, 2004.
MACROECONOMICS
ADVANCED COURSE 1
Prof.ssa Marji Lines
Aims
The course in Advanced Macroeconomics
(in 2 parts) considers the areas of
research (economic growth, business
cycles, technological progress, etc.) and
general approaches (both descriptive and
optimizing models) of modern macroeconomic
theory.
Contents
Part 1 of Advanced Macroeconomics
introduces the student to the modern theory
of economic growth as formalized in
descriptive models of the basic relations
between macroeconomic variables (e.g.,
the Solow-Swann model), and in microfounded
models for which macroeconomic
variables are derived from the optimal
decisions of a single representative
agent (e.g. the optimal growth model of
Ramsey-Cass-Koopmans and the overlapping
generations model of Samuelson-
Diamond). Such current debates as
regards pension schemes and the origins
of growth in market economies are discussed
in the context of these models.
Bibliography
- D. ROMER, Advanced Macroeconomics,
McGraw-Hill, 2005.
Other reading
- M. BURDA, C. WYPLOSZ, Macroeconomics:
a European Text, Oxford Univ. Press,
2001.
- R.J. BARRO, X. SALA-Y-MARTIN, Economic
Growth, McGraw-Hill, 1995.
Exam
Three quizzes and a written final.
MACROECONOMICS
ADVANCED COURSE 2
Prof.ssa Marji Lines
Aims
The course in Advanced Macroeconomics
(in 2 parts) considers the areas of
research (economic growth, business
cycles, technological progress, etc.) and
general approaches (both descriptive and
optimizing models) of modern macroeconomic
theory.
Contents
Part 2 of Advanced Macroeconomics
applies the macroeconomic concepts,
hypotheses, and mechanisms introduced
in Part 1 to the study of business cycle theory
and economic development. The first
model of economic fluctuations modifies
Samuelson’s multiplier-accelerator
scheme by introducing a hypothesis of
heterogeneous expectations. The second
introduces a hypothesis of rational expectations
into Ramsey’s microfounded optimal
growth model. The current debate on
the origins of fluctuations in market
economies is discussed in the context of
these models. Finally, macroeconomic
theory is applied to the problem of economic
development in the modern setting
of a global market economy.
Bibliography
- D. ROMER, Advanced Macroeconomics,
McGraw-Hill, 2005.
Other reading
- P. MINFORD, D. PEEL, Advanced Macroeconomics,
Edward Elgar, 2002.
- M. LINES, F. WESTERHOFF, in PUU,
SUSHKO (eds.), Business Cycle Dynamics,
Springer-Verlag, 2006.
- J. SACHS, The End of Poverty, Penguin,
2005.
Exam
A written exam on business cycle theory
and a project on economic development.