Learning Results
This subject aims at developing the student’s skills regarding mainly the understanding of the main macroeconomic aggregates and the way they interact. Other aims:
• Debate the current macro-economic issues;
• Understand the role of economic policies;
• Compute and interpret macro-economic aggregates;
• Understand macro-economic models;
• Interpret multipliers;
• Understand the dynamics of inflation and unemployment;
• Contextualise the Public Sector intervention in the stimulus to competitiveness and economic growth;
• Distinguish economic growth from business cycles.
Program
I – Introduction and general concepts
II – Measuring economic activity
Product as a measure of economic performance
Output gap
Employment and unemployment
Measuring price levels and inflation Inflation rate
Economic impacts of Inflation/deflation
Nominal and real values
National Accounts
Conceptual and theoretical issues
Agents, operations, flows and stocks
Economic circuit
National Accounting Identities
III – Public Sector and Public Finances
Public balance and public deficit
Public debt
IV – Consumption,
Savings and Investment
Private consumption and family savings Investment
V – Multiplier effects
The Simple Keynesian model
Multipliers and fiscal policy
VI – IS/LM Model
Product market and the IS Money market and the LM
Simultaneous equilibrium
Fiscal and monetary policies
VII – Aggregate supply and aggregate demand
Aggregate demand
Aggregate supply
Macroeconomic equilibrium
Aggregate supply and aggregate demand shifts
VIII – Economic growth and business cycles
Internship(s)
NAO
Bibliography
Dornbusch R., Fischer S., Startz R., (1998), “Macroeconomia”, McGraw-Hill, Lisboa, 7ª ed.
Samuelson, P. e Nordhaus, W (2005), “Macroeconomia”, McGraw-Hill, Lisboa, 18ª ed;
Amaral, J. Ferreira, Louçã, F., Caetano, G., Fontainha, E., Ferreira, C., Santos, S.(2007), “Introdução á Macroeconomia”, Escolar Editora, Lisboa, 2ª ed.