News
Courses in the academic year 2024-2025:
1) MACROECONOMICS
(Code: 10606497 – 9 CFU – 2° semester)
Prof. Francesco Nucci
Classes start on Monday the 17th of February 2025, with the following schedule:
Monday, 16-18 (room 8b)
Tuesday, 14-16 (room 8b)
Wednesday, 18-20 (room 8b)
The class code for the Classroom platform (Google suite) is the following:
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Adopted text:
"Macroeconomics A European Perspective", by Olivier Blanchard, Alessia Amighini and Francesco Giavazzi (2021), Pearson Education Ltd, 4th Edition.
Please note that this textbook is available for purchase at bookstores near the faculty building on Viale Ippocrate, including La Sapienza, Libreria Dias, and La Libreria.
The ebook edition can be purchased through the VitalSource website at the following link:
https://www.vitalsource.com/it/products/macroeconomics-4th-editions-pdf-...
Syllabus:
The syllabus of the course for the academic year 2024-2025 is attached to this site as a pdf file.
It is the following:
What is macroeconomics? The data of macroeconomics (chapter 2; Appendix 2)
Introduction to macroeconomics
Aggregate output Gross Domestic Product (GDP)
GDP production and income
Nominal and real GDP; level vs. growth rate of GDP
The unemployment rate
The inflation rate
The consumption price index
The GDP (or consumption) deflator
The short run, the medium run and the long run
The economy in the short run: the goods market (chapters 3 and 5.1)
The composition of GDP
The demand for goods and services
The determination of equilibrium output
The goods market and the IS relation
The economy in the short run: the financial markets (chapters 4; 5.2 and 6.1 – 6.3)
Financial markets: the demand for money
Determining the interest rate
Financial markets and the LM relation
Nominal versus real interest rates
Risk and risk premiums
The role of financial intermediaries
The economy in the short run: goods and financial markets (chapters 5.3 – 5.5; 6.4)
Equilibrium in the IS-LM model
The effects of fiscal and monetary policy
Extending the IS-LM model
The economy in the medium run (chapters 7 – 9)
The labor market
Movements in unemployment
Wage determination
Price determination
Inflation, expected inflation and unemployment: the Phillips curve
The Phillips curve and the natural rate of unemployment
The IS-LM-PC (aggregate demand and supply) model and the effects of policy
The economy in the long run: economic growth (chapters 11 – 12)
Measuring the standard of living of a country
The facts of economic growth
Saving, capital accumulation and output a model of economic growth
The model of economic growth with technological progress
Technological progress and the challenges to growth (chapters 13 – 14)
The determinants of technological progress
Institutions, technological progress and growth
How to measure technological progress
Growth and inequality
Climate change and global warning
The open economy: international trade and financial flows (chapter 18)
Export and Imports
The exchange rate; nominal and real exchange rates
The balance of payments
The choice between domestic and foreign assets
Office hours
Office hours of prof. Francesco Nucci are on Wednesday from 11 to 13 or by appointment through e-mail (francesco.nucci@uniroma1.it). Office hours are held at his office in the faculty building (5th floor, office 512)
Students who prefer to meet the professor in remote mode have the opportunity to do so using the Meet platform. In that case, for having the Meet link, the student should contact the instructor by email
Calendar of the exams
The calendar of the exams throughout the academic year 2024-2025 is already available on the Infostud system
2) ADVANCED MACROECONOMICS
(9 CFU; Academic Year 2024-2025 – I° Semester)
(Codes: 1032644 and 10616732)
Prof. Francesco Nucci
The class code for the Classroom platform (Google suite) is the following:
z7yvsbr
Programme of the course of Advanced Macroeconomics
The course introduces to the study of macroeconomics at a more advanced level than in undergraduate courses. The syllabus of the course is attached below as a pdf file.
The perspective taken in the course is both theoretical, with the development of formal economic models and the discussion of their main predictions, and empirical, with a focus on the stylized facts and on what the economic data say with regard to each model’s findings.
A significant portion of the course deals with economic growth and long-run dynamics in the economy.
A relevant part of the course is devoted to consumption and saving decisions and to firm’s investment choice. The models that we consider are based on the optimal intertemporal decision on the part of households and firms. In particular, as far as consumption and saving are concerned, we focus on the permanent-income hypothesis and on the subsequent evolution of that theory with the introduction of financial constraints and the consideration of precautionary saving. As for firms’ investment, we consider the q theory. We also consider the Government budget constraints and the links between consumption decisions and fiscal policy.
A relevant part of the course focuses on short-run economic fluctuations, analyzing first the main business cycle’s stylized facts, with the succession of expansions and recessions, and then examining the main macroeconomic models of output determination and business cycle.
Adopted texts
Advanced Macroeconomics, David Romer (2019), McGraw-Hill, 5th Edition
Prerequisites
A backgroung in macroeconomics and microeconomics at an intermediate level is necessary
Office hours:
Office hours of prof. Francesco Nucci are on Wednesday from 11 to 13 or by appointment through e-mail (francesco.nucci@uniroma1.it). Office hours are held at his office in the faculty building (5th floor, office 512).
Students who prefer to meet the professor in remote mode have the opportunity to do so using the Meet platform. In that case, for having the Meet link, the student should contact the instructor by email
The syllabus of the course for the academic year 2024-2025 is attached to this site as a pdf file
Calendar of the exams and their organization:
The calendar of the exams throughout the academic years 2024-2025 is available on the Infostud system
Courses in the previous academic year (2023-2024):
1A) COMPLEMENTI DI ECONOMIA POLITICA (9 cfu)
Anno accademico 2023-2024 - II Semestre
Prof. Francesco Nucci
9 CFU - Codice 1016861
Canale A - L
Facoltà di Economia – Corso di laurea in Economia e Finanza
Il codice di accesso alla classe virtuale di Classroom per il corso di Complementi di Economia Politica dell'anno accademico 2023-2024 è il seguente: kecjvy5
Il Programma del Corso e l'indicazione dei Libri di testo e delle sezioni da studiare sono disponibili nel file qui allegato
Programma del corso
(A) Microeconomia
1. La teoria del comportamento del consumatore
Le preferenze del consumatore, l’utilità, il vincolo di bilancio e la scelta ottimale
Le funzioni di domanda e le curve di Engel
L’effetto reddito e l’effetto sostituzione: l’equazione di Slutsky
La domanda di mercato
Le scelte in condizioni di incertezza, l’utilità attesa e l’avversione al rischio
2. La teoria del comportamento dell’impresa
La tecnologia e l’insieme di produzione
La massimizzazione del profitto e la curva di domanda dei fattori
La minimizzazione dei costi
La domanda condizionata dei fattori e le curve di costo nel breve e nel lungo periodo
La funzione di offerta e l’equilibrio nel mercato concorrenziale
3. La struttura di mercato
La deviazione dall’ipotesi di concorrenza perfetta
Il monopolio puro e la discriminazione dei prezzi
La concorrenza monopolistica
L’oligopolio: i modelli di Stackelberg e di Cournot
4. La teoria dell’equilibrio economico generale
L’economia di puro scambio
Allocazioni Pareto-efficienti e l’equilibrio Walrasiano
La legge di Walras
(B) Macroeconomia
5. La teoria della crescita economica
I fatti stilizzati sulla crescita dei sistemi economici
Il modello di Solow: a) l’accumulazione del capitale e la crescita demografica
b) il progresso tecnologico e il sentiero di crescita bilanciata
La contabilità della crescita
La teoria della crescita endogena
6. Mercato del lavoro, salari e disoccupazione
Flussi in entrata e uscita dal mercato del lavoro. Il tasso naturale di disoccupazione
La ricerca del lavoro e la disoccupazione frizionale
Meccanismi non concorrenziali, rigidità salariale e disoccupazione strutturale
7. Aspettative, consumo, risparmio e investimento
Le scelte intertemporali di consumo e risparmio
Teoria del reddito permanente e teoria del ciclo vitale
Le imperfezioni del mercato finanziario e i vincoli di liquidità
Il modello neoclassico delle scelte di investimento. La q di Tobin
8. L’economia nel breve periodo e le politiche di stabilizzazione
Il modello IS-LM e la domanda aggregata
Alcuni modelli di offerta aggregata in presenza di imperfezioni di mercato
L’equilibrio macroeconomico di breve e di lungo periodo
Inflazione, disoccupazione e la curva di Phillips con aspettative
9. Le fluttuazioni macroeconomiche
Un modello dinamico di domanda aggregata e offerta aggregata
La funzione di reazione della Banca centrale e il principio di Taylor
La risposta dinamica delle variabili macro a shock esogeni
Libri di testo
- Microeconomia: Varian, Hal, (2011) “Microeconomia”, (7° ediz.), Cafoscarina
- Macroeconomia: Mankiw, Gregory, N. e Mark P. Taylor, (2015), “Macroeconomia”, (6° ediz.), Zanichelli
-
Paragrafi dei libri di testo da studiare per l’esame
A. Solo sezioni: 2.1-2.5, 3, 4 (no 4.6), 5.1-5.2, 6 (no 6.6), 8.1-8.5, 12.1-12.4 (no esempi), 15.1, 15.2, 15.5-15.11, 18, 19.5-19.10, 20.1, 20.3, 20.4, 21.1-21.3 (solo esempio 1), 21.5, 21.7, 22.1-22.6, 23.1-23.5 (no esempi), 24.1-24.4 (no esempi), 25.1-25.4, 25,7, 27.1-27.7 e 31.1-31.7. Inoltre: Appendici ai capitoli 4, 5, 15 (no esempio 1), 19, 20.
B. Solo sezioni: 7.1-7.3, 8, 9, 10, 12, 14, 18 e 19. Inoltre: Appendici ai capitoli 9 e 12 e capitolo on-line “Un modello dinamico di domanda aggregata e offerta aggregata”, scaricabile da: online.universita.zanichelli.it/mankiw-macro6e.
Per esercizi e problemi si vedano i due libri di testo e il sito web del testo (B).
Le date degli esami sono disponibili sul sistema Infostud.
Il ricevimento studenti del prof. Nucci si tiene il mercoledì dalle 11 alle 13 presso lo studio del docente al 5° piano della facoltà (Ala Economia e diritto; studio 512) oppure tramite appuntamento per e-mail
1B) COMPLEMENTI DI ECONOMIA POLITICA (6 cfu)
Prof. Francesco Nucci
Anno accademico 2023-2024 - II Semestre
6 CFU - Codice 1016862
Canale A - L
Facoltà di Economia – Corso di laurea in Economia e Finanza
Il codice di accesso alla classe virtuale di Classroom per il corso di Complementi di Economia Politica dell'anno accademico 2023-2024 è il seguente: kecjvy5
Il Programma del Corso e l'indicazione dei Libri di testo e delle sezioni da studiare sono disponibili nel file qui allegato
2) MACROECONOMICS - Academic Year 2023-2024
(9 CFU; code: 10606497)
Prof. Francesco Nucci
The class code for the Classroom platform (Google suite) is the following:
ed7qdtr
Programme of the course of Macroeconomics
The course introduces to the study of macroeconomics at a more advanced level than in undergraduate courses. The syllabus of the course is attached below as a pdf file.
The perspective taken in the course is both theoretical, with the development of formal models and the discussion of their main predictions, and empirical, with a focus on the stylized facts and on what the data say with regard to each model’s findings.
A significant portion of the course deals with economic growth and long-run dynamics in the economy.
A relevant part of the course is devoted to consumption and saving decisions and to firm’s investment choice. The baseline models that we consider are based on the optimal intertemporal decision on the part of households and firms. In particular, as far as consumption and saving are concerned, we focus on the permanent-income hypothesis and on the subsequent evolution of that theory with the introduction of financial constraints and the consideration of precautionary saving. As for investment, we consider the q theory but also focus on the firm’s ability to have access to external finance in the process of investment decision. We also consider the Government budget constraints and the links between consumption decisions and fiscal policy.
A relevant part of the course focuses on short-run economic fluctuations, analyzing what the business cycle’s stylized facts are, with the well known succession of expansions and recessions, and examining the main macroeconomic models of output determination and business cycle. The DSGE models are covered during the course.
Adopted texts
Advanced Macroeconomics, David Romer (2019), McGraw-Hill, 5th Edition
Prerequisites
A backgroung in macroeconomics and microeconomics at an intermediate level is useful
Office hours:
Office hours of prof. Francesco Nucci are on Wednesday from 11 to 13 or by appointment through e-mail. Office hours are held at his office in the faculty building (5th floor, office 512).
Students who prefer to meet the professor in remote mode have the opportunity to do so using the Meet platform. In that case, for having the Meet link, the student should contact the instructor by email (francesco.nucci@uniroma1.it)
Calendar of the exams and their organization:
The calendar of the exams is available on the Infostud system