Skip navigation links
banner
logo ridotto
logo-salomone
Master of Science in Economics and Development

Macroeconomics 1

CFU: 9

Year: I

Instructors: Marco Dardi and Vinicio Guidi

Intertemporal equilibrium of consumption and production plans in a macroeconomic deterministic environment. Saddle properties of dynamics in the vicinity of a steady state. Comparison with OLG models. Uncertainty, Bayesian expectations in general and rational expectations. Dynamics under rational expectations compared to adaptive expectations. Financial markets. Intertemporal portfolio choice according to utility-based and consumption-based CAPM. The contingent claims approach to financial markets. Completeness and efficiency in risk allocation.

Models of growth from Harrod-Domar to Solow and Swan; prices and markets during transition, technical progress, conditional convergence. Derivation of the propensity to save from intertemporal optimization in the Ramsey model. Endogenous growth. Proof of existence of an optimal growth path.

Wickens M., 2012, Macroeconomic Theory: A Dynamic General Equilibrium Approach, Princeton

Univ. Press;

Barro and Sala-I-Martin, 2004, Economic Growth, Mc Graw-Hill;

Acemoglu D., 2009, Introduction to Modern Economic Growth, Princeton Univ. Press

 
last update: 04-Apr-2017
UniFI Scuola di Economia e Management Home Page

Back to top