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Advanced Microeconomics and Macroeconomics - Structure
Advanced Microeconomics and Macroeconomics - Structure

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ALBERTO BUCCI , responsible for the course

Degree in FINANCE AND ECONOMICS (MEF) - Classe LM-16 Enrolled from 2017/2018 academic year - Laurea Magistrale - 2018/2019

Compulsory course or activityyes
Year of course1s
Term or semester2nd term
Scientific fields (settori scientifico-disciplinari)
  • SECS-P/01 - Economia politica
ECTS credits (CFU) compulsory12
ECTS credits - facultative-

General information

Language of instruction: English

Syllabus

Web:

http://ariel.unimi.it

Short course description english flag

Module Advanced Microeconomics
This course has essentially two objectives: (i) to provide you with the tools necessary to tackle economic problems in a systematic way, and (ii) to develop basic intuitions that can help you analyze economic puzzles and policy problems you will encounter during the rest of your career. We will develop a theoretical model of both consumer and producer behavior. Combining both groups within a market and across markets provides a framework that is the basis for virtually all economic analysis. To motivate the concepts and to illustrate the usefulness of the tools, we will cover applications as time permits.

Module Advanced Macroeconomcis
The course is an introduction to the analysis of the modern models for Dynamic Macroeconomics. It applies relevant formal economic reasoning and advanced optimization techniques to study such macroeconomic topics as: (1) Consumption; (2) Investment; (3) Employment/Unemployment. A significant portion of the course will be also devoted to: (4) Economic Growth. After a broad description of the main "facts" about the process of long-run per-capita income growth, the course will analyze such topics as the relationship between: (4.1.) Physical capital accumulation and growth; (4.2.) Human capital investment and growth; (4.3.) Research and development, population, and income growth.

Syllabus Module Advanced Macroeconomics:

PROGRAMME:


1. Dynamic Models of Investment (Chapter 2, B–B)

2. Growth in Dynamic General Equilibrium:

2.1. The basic facts of economic growth (Chapter 1, J–V)

2.2.The neoclassical growth models: Solow (1956), and Ramsey (1928) – Chapter 4, B–B

2.3. Empirical applications of neoclassical growth models (Chapter 3, J–V)

2.4. The economics of ideas (Chapter 4, J–V)

2.5. The engine of growth (Chapter 5, J–V)

2.6. Alternative theories of endogenous growth (Chapter 9, J–V)

Syllabus Module Advanced Macroeconomics non-attending students

PROGRAMME:


1. Dynamic Models of Investment (Chapter 2, B–B)

2. Growth in Dynamic General Equilibrium:

2.1. The basic facts of economic growth (Chapter 1, J–V)

2.2.The neoclassical growth models: Solow (1956), and Ramsey (1928) – Chapter 4, B–B

2.3. Empirical applications of neoclassical growth models (Chapter 3, J–V)

2.4. The economics of ideas (Chapter 4, J–V)

2.5. The engine of growth (Chapter 5, J–V)

2.6. Alternative theories of endogenous growth (Chapter 9, J–V)

Readings Module Advanced Macroeconomics:

REFERENCES:

B–B : Fabio-Cesare BAGLIANO, and Giuseppe BERTOLA: "Models for Dynamic Macroeconomics", Oxford: Oxford University Press,2007 (First Edition in paperback).

J–V : Charles I. JONES, and Dietrich VOLLRATH: "Introduction to Economic Growth", New York: W. W. Norton & Company, 2013 (Third Edition).

Readings Module Advanced Macroeconomics non-attending students

REFERENCES:

B–B : Fabio-Cesare BAGLIANO, and Giuseppe BERTOLA: "Models for Dynamic Macroeconomics", Oxford: Oxford University Press,2007 (First Edition in paperback).

J–V : Charles I. JONES, and Dietrich VOLLRATH: "Introduction to Economic Growth", New York: W. W. Norton & Company, 2013 (Third Edition).

Syllabus Module Advanced Microeconomics:

Course Outline
(Book Chapter in brackets.)

0. Tools

1. Consumer Theory
1.1 Budget Constraint (Ch. 2)
1.2 Preferences and Utility (Chs. 3 and 4)
1.3 Utility Maximization (Chs. 5 and 6)
1.4 Substitution and Income Effect (Ch. 8)
1.5 Welfare Measurement (Ch. 14)

2. Theory of the Firm
2.1 Technology (Ch. 19)
2.2 Cost minimization (Ch. 21)
2.3 Cost curves (Ch. 22)
2.4 Profit Maximization (Ch. 20)
2.5 Firm supply (Ch. 23)
2.6 Industry Supply (Ch. 24)

3. Partial Equilibrium
3.1 Market Demand (Ch. 15)
3.2 Equilibrium (Ch. 16)

Syllabus Module Advanced Microeconomics non-attending students

Course Outline
(Book Chapter in brackets.)

0. Tools

1. Consumer Theory
1.1 Budget Constraint (Ch. 2)
1.2 Preferences and Utility (Chs. 3 and 4)
1.3 Utility Maximization (Chs. 5 and 6)
1.4 Substitution and Income Effect (Ch. 8)
1.5 Welfare Measurement (Ch. 14)

2. Theory of the Firm
2.1 Technology (Ch. 19)
2.2 Cost minimization (Ch. 21)
2.3 Cost curves (Ch. 22)
2.4 Profit Maximization (Ch. 20)
2.5 Firm supply (Ch. 23)
2.6 Industry Supply (Ch. 24)

3. Partial Equilibrium
3.1 Market Demand (Ch. 15)
3.2 Equilibrium (Ch. 16)

Readings Module Advanced Microeconomics:

Required:
Hal Varian Intermediate Microeconomics: A modern approach, 9th Edition (Last Edition)

Readings Module Advanced Microeconomics non-attending students

Required:
Hal Varian Intermediate Microeconomics: A modern approach, 9th Edition (Last Edition)

Prerequisites, exams and assessment

Examunico
Type of assessmentEsame
Assessmentvoto verbalizzato in trentesimi

Prerequisites, exams and assessment Module Advanced Microeconomics
Prerequisites
This is an advanced class. At the beginning of the course, we will review the basic tools needed. Some previous knowledge of economics is a prerequisite.
Grading
The exam will be written and based on exercises and problems setting on whichwe are going to practice during the course.
Logistics
Students with particular needs should see me at the very beginning of the course.

Module Advanced Macroeconomics
The exam is written both for those students who decide to attend and those students who decide not to attend the course. Knowledge of basic mathematical tools (such as static optimization in one– or multi–variate problems, with and without constraints; differential/difference equations analysis) is a strict pre-requisite for taking this course. Attendance of the course is warmly suggested.

Prerequisites, exams and assessment - non attendant students There is no difference in the exam text if you attend class or not

Propaedeutical courses If you do not have any clue of economics we highly recommend you take the crash courses at the beginning of the first year

Structure of the course

Module Advanced Macroeconomics, Module Advanced Macroeconomics

Aims and objectivesThe course is an introduction to the analysis of the modern models for Dynamic Macroeconomics. It applies relevant formal economic reasoning and advanced optimization techniques to study such macroeconomic topics as: (1) Consumption; (2) Investment; (3) Employment/Unemployment. A significant portion of the course will be also devoted to the study of: (4) Economic Growth. After a broad description of the main "facts" about the process of long-run per-capita income growth, the course will analyze such topics as the relationship between: (4.1.) Physical capital accumulation and growth; (4.2.) Human capital investment and growth; (4.3.) Research and development, population, and income growth.

Aims and objectivesenglish flag The course is an introduction to the analysis of the modern models for Dynamic Macroeconomics. It applies relevant formal economic reasoning and advanced optimization techniques to study such macroeconomic topics as: (1) Consumption; (2) Investment; (3) Employment/Unemployment. A significant portion of the course will be also devoted to the study of: (4) Economic Growth. After a broad description of the main "facts" about the process of long-run per-capita income growth, the course will analyze such topics as the relationship between: (4.1.) Physical capital accumulation and growth; (4.2.) Human capital investment and growth; (4.3.) Research and development, population, and income growth.

Scientific fields

  • SECS-P/01 - Economia politica - Credits: 6
Activities

Lezioni: 40 hours

Module Advanced Microeconomics, Module Advanced Microeconomics

Scientific fields

  • SECS-P/01 - Economia politica - Credits: 6
Activities

Lezioni: 40 hours

Teachers ' office hours

Teacher's office hours
TeacherOffice location
ALBERTO BUCCI , responsible for the courseAl SECONDO TRIMESTRE ricevo il MERCOLEDI', ore 12:00 - 14:00. Coloro che devono ancora sostenere l'esame integrativo di Macroeconomia (SPO, vecchio ordinamento, 9 CFU) possono presentarsi MERCOLEDI' 20 MARZO (ore 12:00-14:00), studio del docente.Studio n. 7- Dipartimento di Economia, Management & Metodi Quantitativi (DEMM), via Conservatorio 7 (Secondo Piano).
VERONICA GREMBIMercoledi 16.30-19.30Via Conservatorio 7