Course guide of Macroeconomics 2 (2391129)

Curso 2022/2023
Approval date: 20/06/2022

Grado (bachelor's degree)

Bachelor'S Degree in Economics

Branch

Social and Legal Sciences

Module

Análisis Económico

Subject

Macroeconomía II

Year of study

2

Semester

2

ECTS Credits

6

Course type

Compulsory course

Teaching staff

Theory

  • Julián Alberto Díaz Saavedra. Grupos: C y D
  • Juan Antonio Lacomba Arias. Grupos: A y B

Practice

  • Julián Alberto Díaz Saavedra Grupos: 1, 3, 5, 6, 7 y 8
  • Juan Antonio Lacomba Arias Grupos: 1, 2, 3 y 4

Timetable for tutorials

Julián Alberto Díaz Saavedra

Email
  • First semester
    • Tuesday
      • 09:00 a 12:00 (Empre. Desp. B322)
      • 15:00 a 18:00 (Empre. Desp. B322)
  • Second semester
    • Tuesday
      • 09:00 a 12:00 (Empre. Desp. B322)
      • 15:00 a 18:00 (Empre. Desp. B322)

Juan Antonio Lacomba Arias

Email
  • First semester
    • Tuesday de 10:30 a 13:30 (Empre. Desp B.319)
    • Wednesday de 10:30 a 13:30 (Empre. Desp B.319)
  • Second semester
    • Tuesday de 10:30 a 13:30 (Empre. Desp B.319)
    • Wednesday de 10:30 a 13:30 (Empre. Desp B.319)

Prerequisites of recommendations

  • Students are required to have undertaken the units Macroeconomics I and Microeconomics I.
  • They should also have a suitable level of knowledge of the following:
    • The IS-LM Model
    • The Mundell-Fleming open economy model
    • Calculation of derivatives and graphical representation of functions

Brief description of content (According to official validation report)

  • Relationships between the main macroeconomic variables
  • Short term economic cycles in open economy
  • Long term economic cycles

General and specific competences

General competences

  • CG03. Ability to analyse and summarise.
  • CG05. Oral and written communication skills in Spanish.
  • CG25. Ability to search for information and research.

Specific competences

  • CE17. Identify and anticipate economic problems relevant to the general allocation of resources in the public and private sector.
  • CE22. Bring rationality to the analysis and description of any aspect of economic reality.
  • CE23. Evaluate the consequences of alternative courses of action and select the best ones given the objectives.
  • CE24. Understand economic institutions as the result and application of theoretical or formal representations of how the economy works.
  • CE30. Issue advisory reports on specific situations in the economy (international, national or regional) or its sectors.
  • CE32. Communicate fluently in an environment and work in a team.
  • CE38. Derive from the data relevant information not accessible to non-professionals.
  • CE39. Regularly use Information and Communication Technologies (ICTs) in their professional activities.
  • CE40. Read and communicate professionally in more than one language, especially in English.
  • CE41. Apply professional criteria based on the use of theoretical instruments to the analysis of problems.
  • CE42. Ethical commitment at work. Ability to work in a team. Critical and self-critical reasoning. Work in an international context.
  • CE43. Motivation for quality.
  • CE59. Contribute to the proper management of resource allocation in both the private and public sectors.
  • CE68. Understand the main microeconomic and macroeconomic models.
  • CE69. Understand the functioning of imperfectly competitive markets.
  • CE70. Understand the main models of industrial economy.
  • CE71. Understand the Game Theory.
  • CE72. Understand economic growth and development models.
  • CE73. Understand the main models of international economy.

Transversal competences

  • CT01. Through the knowledge and application of concepts learnt in the Bachelor's Degree (Grado), be able to identify and anticipate economic problems relevant to the allocation of resources, both in the public and private sectors.
  • CT02. Know, understand and apply the different economic models to provide rationality to the analysis and description of any aspect of reality, and be able to know the economic choice criteria of the different agents that make up society.
  • CT03. Learn to communicate fluently in an environment and to work in a team, both in a national and an international context.

Objectives (Expressed as expected learning outcomes)

  • The student will be able to understand the relationships between the main macroeconomic variables in the medium term.
  • The student will be able to know and quantify the main causes of economic growth.
  • The student will be able to know the main reforms necessary to solve the main macroeconomic problems.

Detailed syllabus

Theory

  • Part 1: The short and medium run
    • Theme 1: The Labour Market.
    • Theme 2: The Aggregate Supply and Demand Model
    • Theme 3: The Phillips Curve.
    • Theme 4: Inflation, economic activity, and the growth rate of nominal money.
  • Part 2: The long run
    • Theme 1: An overview of Log-Run Economic Growth
    • Theme 2: A Model of Production
    • Theme 3: The Solow Growth Model
  • Part 3: Main macroeconomic issues of developed economies
    • Theme 1: The Growth Rate
    • Theme 2: The Labour Market
    • Theme 3: The Fiscal Policy

 

Practice

  • Seminars / Workshops: Throughout the course a series of seminars will be given whose main objective is to analyze certain aspects of the Spanish economy mainly, with the theoretical tools introduced in class.

Bibliography

Basic reading list

  • Blanchard O., (2004). Macroeconomics. Pearson.
  • Jones Ch., (2014). Macroeconomics. Norton.
  • J. Juan (2010), Nada es Gratis, Fedea.
  • Mankiw, N. (2009). Macroeconomics.  Worth Publishers

Complementary reading

  • B. Belzunegui, J. Cabrerizo, R. Padillo, e I. Valero (2002), Macroeconomía: cuestiones y ejercicios resueltos, Prentice Hall.XXXX

Recommended links

  • http://www.ugr.es/~julianalbertodiaz/

Teaching methods

  • MD01. Docencia presencial en el aula 
  • MD02. Estudio individualizado del alumno, búsqueda, consulta y tratamiento de información, resolución de problemas y casos prácticos, y realización de trabajos y exposiciones. 
  • MD03. Tutorías individuales y/o colectivas y evaluación  

Assessment methods (Instruments, criteria and percentages)

Ordinary assessment session

  • The evaluation consists of 3 elements. A first partial exam covering topics 1 to 4 of the first block of the subject. This exam represents 50 percent of the final grade, and will be a test type. Incorrect answers will penalize. A second partial exam covering topics 1 to 3 of the second block of the subject. This exam represents 20 percent of the grade. It will be an exam with test questions and incorrect answers will penalize.
  • A presentation of one of the topics of the third block (Main macroeconomic problems of developed economies). This presentation has a maximum rating of 2 points. Finally, the student will be able to carry out additional tasks that will report a maximum point. This note will be established at the subjective discretion of the teacher and according to the performance, behavior, participation, correction of exercises in class, small tests, as well as the development of as many tasks (other than those of the two previous points) are entrusted to the student throughout the course.
  • To pass the course through this modality, the student is required to obtain at least 50 percent of the maximum score in each of the exams / tasks already mentioned, with the final mark being the sum of the points obtained in each of them. The student who has failed at least one of the three elements of the described evaluation, must take the final exam of the ordinary call. The grade of said student will be a weighted average where the final exam is worth 70 percent of the final grade, and the presentation and participation work are worth the remaining 30 percent. The examination of the ordinary call will be a test type and incorrect answers will penalize.


 

Extraordinary assessment session

  • In the event that the student does not reach 50 percent in some of the activities described in the previous paragraph, they must take the exam corresponding to the extraordinary call. This exam will be typical test, incorrect answers will penalize, will have a maximum score of 10 points, and to pass it requires obtaining a minimum of 5 points.

Single final assessment

  • Those students who, fulfilling the required requirements, have requested to take the final evaluation, will be examined in the ordinary exam session of the second semester, based on a final exam and whose maximum grade will be 10 (ten). This exam will be a test type and incorrect answers will penalize