(Massimo Ricottilli)


  • Textbook. Olivier Blanchard: Macroeconomics. Updated 5th edition. Pearson
  • Slides on line.
  • 24 Lectures: 17 February- 13 May



  1. Introduction: course syllabus and scope. Definition of GDP.
  2. Aggregate supply and effective demand. Equilibrium
  3. Consumption, Investment, Government Expenditure
  4. Savings and Investment
  5. Money supply and money demand
  6. Financial markets. The Central Bank
  7. The IS and LM curves: meaning and warnings
  8. Financial markets
  9. Discussion
  10. The labour market. The bargaining process
  11. The price level
  12. The short-run and long-run: what these terms mean
  13. The aggregate supply and aggregate demand curves
  14. The Phillips curve and inflation
  15. The Okun’s law
  16. Discussion
  17. The long-run theory: the aggregate production function and steady states
  18. Expectations: nominal and real interest rates
  19. The IS-LM model revisited
  20. The open economy
  21. Capital movements
  22. The exchange rate and exchange rate regimes
  23. Discussion
  24. Course overview and exam format