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Macroeconomics (advanced)
Mauro Gallegati

Seat Fac. Economia - Sede di Ancona
A.A. A.A. 2015-2016
Credits 6
Hours 44
Period 2^ semestre
Language ENG

Development of the course

Classes will be both theoretical and practical laboratories. Laboratories will use the statistical software R.

Learning outcomes

Knowledge and Understanding
Students will learn the main instruments to comprehend advanced macroeconomics models with a particular focus on Agent Based macroeconomics models.

Applying knowledge  and  understanding
Students will apply Agent Based models in order to understand the role of heterogeneity and interaction to explain macroeconomics phenomena .

Judgment, focus  and  communication skills
The course will allow the students to comprehend some of the recent macroeconomics events with a critical view. Practical laboratories will allow students to acquire basic programming knowledge.     

Program

1) Introduction: Real Business Cycle model.
2) Post-keynesian Monetary policy Theory.
3) Introduction to Agent Based model.
4) Elements of statistics for Agent Based Model.
5) Elements of behavioural economics.
 

Development of the examination

Exam (Written) 50%. Duration of written exam: 1 hour and 30 min.
Formative coursework 50%

 

Assessment criteria.
Students have to show a solid knowledge of applied and theoretical analysis related to Agent Based models. The exam consists of two parts, a written part and a homework report.
 
Grading scale
From 18 to 30. Cum laude can be attributed  to outstanding performance.

Grading method
The written examination: students will have to answer three questions out of five options. Every question will give students a maximum of 10pts. The homework report will be graded to a maximum value of 30. The final grade will be an average of the written exam and the homework report.

Recommended reading

Gallegati et al, Economics with heterogeneous interacting agents- A practical guide to ABM, Springer, (forthcoming).

Courses

• L.M. - International Economics and Commerce curriculum International Economics and Business