Guía docente de Macroeconomía (M56/56/1/1)

This subject aims to fix the basic concepts of macroeconomic analysis and the main stylized macroeconomic facts. Specifically,

• review of basic concepts (growth and convergence, trend and cycle, markets, equilibrium)
• presentation of empirical evidence,
• static macroeconomic models (representative agent and overlapping generations)
• analysis of public policies .

• Basic knowledge of macroeconomics
• Basic knowledge of microeconomics
• Basic knowledge of optimization

• To have a general knowledge of the main macroeconomic models.
• To determine the main factors that affect the steady state macroeconomic aggregates.
• To understand the role of physical capital, human capital, and infrastructures within economic growth
• To evaluate qualitatively and quantitatively the effect of changes in saving rate, depreciation rate, capital participation rate, etc. over the main macroeconomic aggregates.
• To understand the possible effect of population aging on the Gross Domestic Product
• To proposedifferent public policies to increase the Gross Domestic Product growth rate in a country characterized by aging of its population
• To perform the algebraic and numerical resolution of the different Economic Models
• To understand the main economic models.
• To know the different numerical algorithms used to solve in a computational way the main economic models.
• Determine the main factors that affect the steady state level of the main macroeconomic variables.To know the different programming languages used in the numerical computation.

PART 0: Introduction        

PART 1: Basic Models of Dynamic Macroeconomics. 

• Chapter 1: Infinite Horizon Model
• Chapter 2: Overlapping Generations Model

PART 2: Main topics in Dynamic Macroeconomics              

• Chapter 3: Fiscal Policy.          
• Chapter 4: Growth.
• Chapter 5: Aging.

Exercises related to:

•  Calibration
•  Fiscal policies
•  Pension policies
•  Growth

• Romer, D. 2000. Advanced Macroeconomics(Mc Graw Hill).
• Blanchard O., and S. Fischer. 1996. Lectures on Macroeconomics (The MIT Press)

Fiscal policy:

• Krueger, D. (2005) Dynamic Fiscal policy.
• Auerbach A. and L. Kotlikoff (1987). Dynamic Fiscal policy (Cambridge University Press).

Growth:

• Barro, R. and X. Sala-i-Martin 2003. Economic Growth (The MIT Press).

Aging:

• Auerbach A. and L. Kotlikoff (1987). Dynamic Fiscal policy (Cambridge University Press)

Teaching material will be available at http://www.ugr.es/~julianalbertodiaz/teaching/teaching.html

• MD01 Lección magistral/expositiva 
• MD02 Sesiones de discusión y debate 
• MD03 Resolución de problemas y estudio de casos prácticos 
• MD09 Realización de trabajos individuales 

According to the Rules of assessment and grading of the students of the University of Granada (latest modification approved by the Governing Board on 26th October 2016), the assessment of students’ academic performance will reflect public, objective and impartial criteria, and will preferably be continuous and ongoing.

With the purpose of assessing the acquisition of the contents and competencies to develop in the subject, the following assessment procedure will be used, continuous assessment being optional. The weight of each item in the final assessments shown in parenthesis:

• Presentation of a research paper (30%)
• The acquisition of skills, aptitudes and knowledge derived from the course through two partial exams (70%, 35% each).

Article 19 of the UGR Assessment Policy and Regulations establishes that students who have not passed a course in the ordinary assessment session (convocatoria ordinaria) will have access to an extraordinary assessment session (convocatoria extraordinaria). All students may take part in this extraordinary assessment session, regardless of whether or not they have followed continuous assessment activities. In this way, students who have not carried out continuous assessment activities will have the opportunity to obtain 100% of their mark by means of an exam and/or assignment.

In this case, the assessment will comprise:

•     A single final exam which is worth 100% of the grade.

Article 8 of the UGR Assessment Policy and Regulations establishes that students who are unable to follow continuous assessment methods due to justifiable reasons shall have recourse to a single final assessment (evaluación única final), which is an assessment method that only takes a final exam into account.

In order to opt for a single final assessment (evaluación única final), students must send a request, using the corresponding online procedure, to the coordinator of the master’s programme, in the first two weeks of the course or in the two weeks following their enrolment (if the enrolment has taken place after the classes have already begun). The coordinator will communicate this information to the relevant teaching staff members, citing and verifying the reasons why the student is unable to follow the continuous assessment system.

In this case, the assessment will comprise:

• A single final assessment which is worth 100% of the grade through an assessment of the same type as the special exam described in the previous section.

Date of the evaluation (ordinary call) will be fixed no longer than 2 weeks after the end of the lecture period and, at least 15 days before the exam.

INCLUSION and DIVERSITY. In the case of students with disabilities or other specific educational support needs (NEAE), the tutoring system will be adapted to these needs, following the recommendations of the inclusion area at the University of Granada. Departments and centers will establish appropriate measures to ensure that tutorials take place in accessible locations. Additionally, at the request of faculty, support can be requested from the competent unit at UGR for special methodological adaptations.

Información de interés para estudiantado con discapacidad y/o Necesidades Específicas de Apoyo Educativo (NEAE): Gestión de servicios y apoyos (https://ve.ugr.es/servicios/atencion-social/estudiantes-con-discapacidad).