Cursos / 1º Ciclo / Faculty of Economy and Business Management :: Economics

MACROECONOMIA - 2016/2017

1º curricular year
Semestralidade: 2nd semester
ECTS: 6

Teachers

Leading Teacher: Prof. Doutora Ana Pinto Borges
Assistant Professor: Prof. Doutora Ana Pinto Borges

Class type and School hours

Orientação Tutorial : 1 Horas
Teórico-prática : 2 Horas

Teaching Language

Portuguese

Main Aims/Objectives

The course has as main objective to provide the student the concepts and explanatory models of operation and market analysis techniques of macroeconomic problems. In parallel, it will enable the students to understand the generators economic policy instruments of short dynamics, medium and long term in an economy.

Specific Aims/Objectives

1. Understanding the basics concepts of macroeconomics;
2. Describe and measure the economic activity;
3. Distinction of the economic analysis in the long and the short term;
4. Understand the macroeconomic balance between demand and aggregate supply;
5. Description of fiscal policy and its macroeconomic impacts;
6. Understanding the macro-economic priorities in the medium and long term and how economic policies are oriented.

Skills to be acquired

Students should be able to:
1. Correctly use the terminology in the context of macroeconomics;
2. Interpret and analyze studies, report and present news;
3. Understand the operation and interconnection of the economies of countries, and on what basis the major decisions of macroeconomic policy and possible consequences are taken;
4. Use and analysis of national and international statistical databases with a view to application of theory to reality.

Teaching Procedures

The classes have a component of exposition, which are used in audiovisual media and a practical component where through the analysis or problem solving are explored concepts explained.

Programme

1. INTRODUCTION TO MACROECONOMICS
1.1 Concepts and macroeconomic objectives
1.2 Key macroeconomic issues

2. MEASUREMENT OF ECONOMIC ACTIVITY
2.1 National Accounts: aggregates and fundamental identities
2.1.1 Concept of GDP
2.1.2 Institutional Sectors
2.1.3 Economic Circuit
2.1.4 Calculation of GDP:
  Output approach
  Expenditure approach
Income approach
2.1.5 Disposable Income
2.1.6 Financing Capacity
2.1.7 Balance of Payments
2.1.8 Inflation and Deflation
2.1.9 Nominal and Real Magnitudes
2.1.10 Unemployment
2.1.11 Unemployment and Inflation: The Phillips Curve

4. CONSUMPTION AND SAVINGS
4.1 Concepts and Facts
4.2 Choose Intertemporal
4.3 Permanent income and lifecycle
    The hypothesis of permanent income
    The hypothesis of the life cycle
4.4 Other topics
    Rational expectations
    Durable consumer goods
    Liquidity constraints
    Uncertainties and inheritances

5. INVESTMENT
5.1 Concepts and Facts
5.2 The Accelerator Principle
    Theory of simple accelerator
    flexible accelerator theory
5.3 Neoclassical Theory
    Investment and capital stock of great
    intertemporal budget constraint of the private sector
5.4 Trust, Speculation and "q" Tobin
5.5 Investment Function

Evaluation Type

The assessment follows the regulations provided for the University.
The continuous assessment is composed by two tests.

Teaching Resources

The presentation of the contents will take place predominantly in the classroom, where they will be exposed the issues of the program, using:
1. the Microsoft PowerPoint;
2. the book adopted; and
3. practical exercises.

Sustainability Objectives

Keywords

Macroeconomics
Economic growth
Inflation
Economic recession
Economic expansion
Job market
Unemployment

Main Bibliography

Complementary Bibliography