Universitat Internacional de Catalunya
Macroeconomics
Other languages of instruction: English, Spanish
If the student is enrolled for the English track then classes for that subject will be taught in the same language.
Teaching staff
By appointment. In order to make an appointment, please request one by writing to: sourzay@uic.es
Introduction
In this course, students will gain a deep understanding of the key macroeconomic theories and concepts, including GDP, inflation, and unemployment. Through in-depth analysis and measurement of these concepts, students will learn about their interconnections and how they affect the economy as a whole. In addition to exploring macroeconomic theory, we will also examine the policies and tools that governments and central banks use to influence the economy, such as monetary and fiscal policy. By understanding how these policies can affect business operations, students will gain the ability to anticipate and adapt to changes in consumer demand, borrowing costs, and overall economic growth, which will enable them to make more informed and strategic decisions in a dynamic macroeconomic environment.
Pre-course requirements
None.
Objectives
The main objective of an introductory macroeconomics course is to equip students with a comprehensive understanding of macroeconomic principles, including the measurement, analysis, and forecasting of key economic indicators. The course will explore the relationship between these indicators and how they interact to shape the overall economic landscape. Additionally, students will learn about the tools and policies used by governments and central banks to influence the economy, such as monetary and fiscal policies and their impact on business operations. The course will also focus on developing the students' ability to analyze and evaluate the economic environment in which they operate, and make informed decisions based on this understanding.
Competences/Learning outcomes of the degree programme
- 10 - To identify long-term economic growth factors and understand the impact of globalisation.
- 21 - To be familiar with the main theories in the fields of microeconomics and macroeconomics.
- 22 - To be able to identify the nature and behaviour of producers, consumers and investors.
- 23 - To be familiar with and know how to use microeconomic and macroeconomic analysis terminology.
- 31 - To develop the ability to identify and interpret numerical data.
Learning outcomes of the subject
Ability to compare and contrast macroeconomic models and theories.
Ability to critically evaluate the assumptions and empirical evidence underlying macroeconomic models and theories.
Ability to anticipate the effects of public policies.
Ability to apply macroeconomic concepts and theories to real-world economic problems and policy debates.
Syllabus
Lesson 1: Introduction.
Lesson 2: Labour Market.
Lesson 3: Economic growth.
Lesson 4: Money and monetary aggregates: supply and demand.
Lesson 5: Short-term macroeconomic equilibrium, IS-LM and Taylor's rule.
Lesson 6: Aggregate supply: inflation and unemployment.
Lesson 7: Analysis of aggregate supply and demand: macroeconomic policies.
Note: The content of this course may change based on the needs and pace of the class, subject to the instructor’s discretion.
Teaching and learning activities
In person
- Master classes
- Practice sessions
- Midterms
Evaluation systems and criteria
In person
FIRST EXAM SESSION:
The course is assessed through three components: Continuous Assessment (CA), Midterm Exam (ME), and Final Exam (FE).
- CA (20%): 2 tests (10% each)
- ME (30%): covers the material taught in class up to the exam date.
- FE (50%): covers the entire course and requires a minimum grade of 4.0 to be counted toward the final grade.
Attendance requirement. According to faculty regulations, attendance is mandatory. Attendance below 70% may result in the grade “Not Assessed,” exhausting the exam session.
Conduct. While it does not directly count toward the final grade, minimum standards of order, respect, and good conduct are required. In case of repeated breaches, the instructor may apply a penalty consisting of not counting the 20% corresponding to the tests (CA).
Final grade calculation (1st session):
- If FE ≥ 4.0: Final grade = (CA × 0.20) + (ME × 0.30) + (FE × 0.50).
- If FE < 4.0: no averaging; the final mark will be a fail (determined by the FE).
SECOND EXAM SESSION:For students who did not pass the first session. The exam covers the entire course. It counts for 100% of the course grade. In this exam, the maximum attainable grade is 6/10.
Computers and cellphones are prohibited in the classroom. Students can either print the slides in advance and take notes on them, or bring a tablet to do so.
Bibliography and resources
Abel, A.B. & Bernanke, B. (2004). Macroeconomics, 4a ed., Addison-Wesley Pearson.
Blanchard, O. (2017). Macroeconomics, 7a edició. Pearson.
Borjas, G. J. (2016). Labor Economics (7th ed.). McGraw Hill.
Mankiw, N. G. (2013). Macroeconomics (8th ed.). Macmillan Learning.