Introduction to Macroeconomics · 2019/20
1r Grau d'Economia, ADE, FIC · M4
   

 
 


Antonio Quesada
Office 314
Departament d'Economia
Universitat Rovira i Virgili

Avinguda de la Universitat 1
43204 Reus

E-mail: aqa@urv.cat   

Office hours (February - May 2020)
Tuesday  08.00-09.00 & 11.00-13.00
Thursday
08.00-11.00

Lecture room A0.11 · 5 February 2020 - 21 May 2019
Tuesday 09
:00-11:00 & Thursday 11:00-13:00
 
Class timetable 
February
4
6
11
13
18
20
25 27 
March
3
5
10
12 17
19
24 26  31
April
2

14
16 21 23 28 30
May
5
7 12
14
19 21


Clock · Nationwide lockdown and quarantine in response to COVID-19 since the 15th of March

COVID-19 impact on society and the economy 
SARS-CoV-2 images   1  2  3  4  5  6  7

 COVID-19 as a trolley problem  1  2  
'COVID-19 Animation: What Happens If You Get Coronavirus?Youtube  28 Mar 2020

Bad policy kills

  OECD Economic Outlook, Interim report March 2020  ( OECD|  OECD outlook after coronavirus  
The IMF on the coronavirus emergency  1  2 
G20: to do whatever-it-takes on coronavirus | Guardian 26 Mar 2020  

'[LIVE] Coronavirus pandemic: Real time counter| Roylab Stats  Youtube  3 May 2020  12 May 2020
COVID-19:  World 27 Mar 2020  31 Mar 2020 02 Apr 2020 (Roylab Stats) | Catalonia 31 Mar 2020  (aquas.gencat) 01 Apr 2020 (vilaweb) Italy 1 Apr 2020 (source | Spain (23 Mar - 7 Apr 2020; el nacional.cat)

'Coronavirus is our future' | Alanna Shaikh Youtube 11 Mar 2020 
'The politics of coronavirus'  20 Mar 2020 Youtube | 'How will the Coronavirus change global politics?' | DW Analysis 19 Mar 2020 Youtube 
'Yanis Varoufakis on the economic and political impact of the coronavirus15 Mar 2020 Youtube
'Yanis Varoufakis: Europe's latest historic failure23 Mar 2020 Youtube

COVID-19 global cases by the CSSE at Johns Hopkins University (or here) 2 Apr 2020

'The global macroeconomic impacts of COVID-19: Seven scenarios|  Warwick J. McKibbin / Roshen Fernando  brookings.edu 2 Mar 2020
'What should a fiscal response to a COVID-19 outbreak look like'  |  Jay Shambaugh brookings.edu 3 Mar 2020  
'Global macroeconomics of coronavirus|  Warwick J. McKibbin  brookings.edu 9 Mar 2020 
'Three macroeconomic issues and Covid-19|   Leonardo Cadamuro / Francesco Papadia  bruegel.com  10 Mar 2020 
'Coronavirus and macroeconomic policy|  Luca Fornaro / Martin Wolf  VOX  10 Mar 2020
'Coronavirus will bankrupt more people than it kills — and that's the real global emergency| Omar Hassan  Independent  11 Mar 2020
'An effective economic response to the Coronavirus in Europebruegel.com  12 Mar 2020 
'Coronanomics 101: which policy tools will contain the economic threat of COVID-19?|  Barry Eichengreen  World Economic Forum 12 Mar 2020

'COVID-19 likely to cost economy $1 trillion during 2020|  UN news 9 Mar 2020
'COVID-19 and the US economy: FAQ on the economic impact & policy response|  Jay Shambaugh  Brookings 23 Mar 2020
'It could take three years for the US economy to recover from COVID-19|  Laura Oliver  WEForum 30 Mar 2020
'Lockdown is the world's biggest psychological experiment - and we will pay the price|  Elke Van Hoof  WEForum 9 Apr 2020
'The economic impact of COVID-19|  Daniel Bachman  Deloitte 3 Mar 2020

'Our politics isn’t designed to protect the public from Covid-19| George Monbiot  The Guardian  18 Mar 2020
'ECB announces €750 billion Pandemic Emergency Purchase Programme|  European Central Bank  18 Mar 2020
'Coronavirus Will Change the World Permanently|  politico.com  19 Mar 2020
'What Economic Analyses of Past Pandemics Can Tell Us About the COVID-19 Aftermath|  reason.com  20 Mar 2020 
'Coronavirus Recession Looms, Its Course ‘Unrecognizable’|  Nelson D. Schwartz  New York Times  21 Mar 2020 
'Coronavirus: What could the West learn from Asia?|  Helier Cheung BBC News  21 Mar 2020
'Largest monthly drop in Eurozone consumer confidence ever in March|  think.ing  23 Mar 2020
'The Coronavirus pandemic and the new world it is creating| EU External Action  23 Mar 2020

'6 economic surveys show coronavirus is hammering the global economy| Theron Mohamed  24 Mar 2020
  COVID-19: Brifing materials Mckinsey.com   25 Mar 2020
'The economic effects of COVID-19 around the world|  Rosamond Hutt  World Economic Forum  26 Mar 2020
'It could take three years for the US economy to recover from COVID-19|  Laura Oliver  World Economic Forum  30 Mar 2020
'5 charts that show the global economic impact of coronavirusReuters staff  World Economic Forum  31 Mar 2020
'UN's Guterres: COVID-19 most challenging crisis since WW II|   eNCA  1 Apr 2020
'Coronavirus: US jobless claims hit 6.6 million as virus spreads|   BBC News  2 Apr 2020  US jobless claims 
'Coronavirus: A visual guide to the economic impact|   BBC News  2 Apr 2020  Stock market  Pollution  Chinese production  Oil  OECD growth forecast

'China Wants to Use the Coronavirus to Take Over the World| Bruno Maçăes  3 Apr 2020
'The Coronavirus Pandemic Will Forever Alter the World Order| Henry A. Kissinger  3 Apr 2020
'CNN's Fareed Zakaria analyzes the multiple crises unfolding during the coronavirus pandemic| Fareed Zakaria  5 Apr 2020
'How COVID-19 Crunch Compares To Spanish Flu, Great Depressionr|  Peter Cohan  Forbes  6 Apr 2020
'Coronavirus: who will be winners and losers in new world order?|  Patrick Wintour The Guardian 11 Apr 2020
'Coronabonds with or without GermanyWorld Inequality Database  20 Apr 2020

'Intensifying Sanctions on Iran and Venezuela, Trump Is Weaponizing Coronavirus'  |  Marjorie Cohn  truthout.org (on Covid-19)  15 Apr 2020 
'Despair and Disparity: The Uneven Burdens of COVID-19'  |   truthout.org (on Covid-19)  15 Apr 2020 
'Pop-up bike lanes help with coronavirus physical distancing in Germany'  |   Philip Oltermann  The Guardian  13 Apr 2020 
A brand new economy with recycled goods'  |   City of Amsterdam

'Coronavirus: who will be winners and losers in new world order?|  Patrick Wintour The Guardian 11 Apr 2020
'The Reality Of The End Of Oil|  Robert Rapoer  oilprice.com 11 Apr 2020
'We're Barreling Toward An Epic Glut Of Oil|  Camila Domonoske  npr 20 Mar 2020
'Free Fall: Oil Prices Go Negative|  Camila Domonoske  npr 20 Apr 2020
'Oil plunges 321% into negative territory for the first time ever|  Saloni Sardana  20 Apr 2020
'WTI crude price goes negative for the first time in history|  worldoil.com 20 Apr 2020
'Oil prices fall to historic lows|  Dallasnews.com  20 Apr 2020
Oil price charts  |  oilprice.com
'COVID-19 Could Kill China’s $3.8 Trillion New Silk Road|  Oxford Business Group  oilprice.com 20 Apr 2020

'Covid-19: The economy, explained'  9 Apr 2020 Youtube

  Working paper: Estimates of the impact of COVID-19 on global poverty  |  UN University
  An ‘Economic Rescue Plan For All’ to tackle the Coronavirus crisis  |  Oxfam International  9 Apr 2020
  'Coronavirus: Half a billion people could be pushed into poverty'  |  Alasdair Sandford euronowews  9 Apr 2020
  'Half a billion people could be pushed into poverty by coronavirus|  Oxfam  9 Apr 2020
  'Commission adopts banking package to facilitate lending to households and businesses|  28 Apr 2020
  'Ursula von der Leyen’s disaster management'  |  POLITICO  29 Apr 2020
  'China starts major trial of state-run digital currency'  |  Helen Davidson The Guardian  28 Apr 2020

  The state of food security and nutrition in the world  |   2019 Report  FAO ( UN global issues: food )
UN COVID-19 response  3 May 2020
'Air pollution remains low as Europeans stay at home'' Sentinel-5P  16 Apr 2020
Word Health Organization COVID-19 dashboard  WHO

'Oil plunges 321% into negative territory for the first time ever|  Saloni Sardana  20 Apr 2020
'WTI crude price goes negative for the first time in history|  worldoil.com 20 Apr 2020

ERSA COVID-19 forum
NPR · The Coronavirus Crisis
  'The EU Should Issue Perpetual Bonds'  |  George Soros  project syndicate 20 Apr 2020
  'Will Global Governance Prove Itself?'  |  C Manlan  H-M Yéré  project syndicate 24 Apr 2020
  'Europe’s Welcome Pandemic Response'  |  Sylvain Broyer  project syndicate 24 Apr 2020

IMF: The great lockdown
Covid safety ranking  Eurozone  Top-40 dkv 12 Apr 2020

 
'Germany's Covid-19 expert: 'For many, I'm the evil guy crippling the economy'|  Laura Spinney  The Guardian  26 Apr 2020
'POLITICO's Virtual Brussels Playbook Interview with Thomas Piketty|  Youtube  POLITICO Europe  28 Apr 2020

  COVID-19 impact on European air traffic  EUROCONTROL  28 Apr 2020 ( Daily traffic variation  1  2  18 Apr 2019  16 Apr 2020 )

Eurostat statistics on Covid-19  |  ec.europa.eu   Eurostat
Eurozone indicators: 'GDP down by 3.8% in the euro area'  Unemployment  Inflation  GDP  Income  Eurostat  29 Apr 2020
'The Fed says it will do what it can to bolster the economy|  NYTimes  30 Apr 2020

European Commission Coronavirus Response
 ECB response to the coronavirus pandemic
'Extraordinary times require extraordinary action. There are no limits to our commitment to the euro. We are determined to use the full potential of our tools, within our mandate.' Christine Lagarde
Project Syndicate · Coverage of the pandemic
 

  'The Populists’ Pandemic' |  Andrés Velasco  Project Syndicate  1 May 2020
  'How to Avoid a W-Shaped Recession' |  Jeffrey Frankel  Project Syndicate  1 May 2020
'Central Banks’ Bold Cuts Leave No Room For Encoregfmag.com  9 Apr 2020
'Managing Liquidity in a Crisisgfmag.com 14 Apr 2020

TED talks: 'Coronavirus is our future' & 'Why COVID-19 is hitting us now'  | Alanna Shaikh  Mar 2020
TED talk: 'What coronavirus means for the global economy'  |  Ray Dalio  9 Apr 2020
 
COVID-19 and the New Leadership Agenda  Boston Consulting Group (thanks to Ivan Abraldes for this report by BCG)
'Alternative scenarios for the impact of the COVID-19 pandemic on economic activity in the euro area|  Niccolň Battistini & Grigor Stoevsky  ECB  1 May 2020
'Economic outlook, crisis impact and road to recovery|  Luis de Guindos  ECB  7 May 2020

'Will COVID-19 Remake the World?|  Dani Rodrik  Project Syndicate  6 Apr 2020
'An Abysmal Failure of Leadership|  Joseph S. Nye, Jr.  Project Syndicate  7 May 2020
'Humanity needs leadership and solidarity to defeat the coronavirus|  United Nations Development Programme

'Spring 2020 Economic Forecast  Report  |  European Commission  6 May 2020
'Coronavirus Global Response: €7.4 billion raised|  European Commission  4 May 2020
Economic performance and forecasts  Economic and fiscal policy coordination  Jobs and economy during the coronavirus pandemic  |  European Commission Economic response

  'Mitigating the Impact of Pandemic Influenza through Vaccine InnovationCouncil of Economic Advisers to the President of the USA  Sep 2019
'Why the English sacrificed liberty for lockdown' |  James Kirkup  unherd.com   23 Apr 2020
'Which epidemiologist do you believe? The debate about lockdown' |  Freddie Sayers  unherd.com   27 Apr 2020
'How China is exploiting pandemic panic' |  Ian Birrell  unherd.com   30 Apr 2020  Xi+Trump 
'Covid-19 is hardening our borders' |  Tim Marshall  unherd.com   4 May 2020
'Covid is a once-in-a-lifetime opportunity' |  Peter Franklin  unherd.com   5 May 2020
'Is the lockdown doing more harm than good?' |  Tom Chivers  unherd.com   5 May 2020

'In a Plague Year' |  Mike Davis  jacobinmag.com  14 Mar 2020
'New Pathogen, Old Politics' |  Alex de Waal  jacobinmag.com  3 Apr 2020
'German court ruling ties ECB's hands - now and in the future' |  Balazs Koranyi & Francesco Canepa  Reuters  5 May 2020
'German court criticises European Central Bank crisis bond-buying' |   BBC news  5 May 2020
'Christine Lagarde says ECB is ‘undeterred’ by German court challenge' |  Martin Arnold  Financial Times  7 May 2020

'Covid Economics: Vetted and Real-Time Papers'  (17th issue 13 May 2020)  |  cepr.org
'The ABCs of the post-COVID economic recovery' |  Louise Sheiner & Kadija Yilla  Brookings 4 May 2020
'More Europe or less?' |  The Economist  21 Mar 2020
'Coronavirus: Recession, response, recovery' |  Chetan Ahya  Morgan Stanley  25 Mar 2020
'Morgan Stanley warns of a possible collapse of the GDP in Spain of 22.6%' |  web24.news  28 Apr 2020
'The debt dilemma' |  Michael Roberts blog  10 May 2020
'What Do Countries With The Best Coronavirus Responses Have In Common? Women Leaders' |   Avivah Wittenberg-Cox  Forbes 13 Apr 2020

'Coronavirus: A visual guide to the economic impact'  ( pdf version) | Lora Jones, Daniele Palumbo & David Brown  BBC News  30 Apr 2020
'COVID-19: World economy in 2020 to suffer worst year since 1930s Great Depression, says IMF |  Euronews  14 Apr 2020
'Who will be the winners in a post-pandemic economy? |  Mohit Joshi  World Economic Forum  20 Apr 2020
'New tech infrastructure will help economies recover after COVID-19 |  Lei Xu World Economic Forum  12 May 2020
'This is the effect COVID-19 will have on global poverty, according to the World Bank |  Daniel Mahler & Christoph Lakner  World Economic Forum  11 May 2020
'The Global Risks Report 2020'  (Report |  World Economic Forum  15 Jan 2020  (do not look for the coronavirus pandemic here)
'How to Create a Pandemic Depression. Opening the economy too soon could backfire, badly |  Paul Krugman  NYTimes  11 May 2020
'Economic impact of the COVID-19 pandemic |  Wikipedia  13 May 2020
'Today’s Numbers: The COVID Economy |  Scott Tong & Mitchell Hartman  Marketplace.org  13 May 2020

'The longer-run economic consequences of pandemics|  Ňscar Jordŕ, Sanjay R. Singh, Alan M. Taylor  VOX CEPR Policy Portal 8 Apr 2020
'Coronavirus meets the Great Influenza Pandemic|  Robert Barro, Jose Ursua, Joanna Weng  VOX CEPR Policy Portal 20 Mar 2020
'COVID-19 and Trade Policy: Why Turning Inward Won’t Work|  Richard Baldwin, Simon Evenett  VOX CEPR Policy Portal 29 Apr 2020
'COVID-induced economic uncertainty and its consequences|  Scott Baker, Nicholas Bloom, Steven Davis, Stephen Terry  VOX CEPR Policy Portal 13 Apr 2020
'How COVID-19 is transforming the world economy|  Kemal Kilic, Dalia Marin  VOX CEPR Policy Portal 10 May 2020
'The economic impact of Covid-19 in Europe and the US|  Sophia Chen, Deniz Igan, Nicola Pierri, Andrea Presbitero  VOX CEPR Policy Portal 11 May 2020
'COVID-19: Europe needs a catastrophe relief plan|  Agnčs Bénassy-Quéré, Ramon Marimon, Jean Pisani-Ferry, Lucrezia Reichlin, Dirk Schoenmaker, Beatrice Weder di Mauro  VOX CEPR Policy Portal 11 Mar 2020
'Economics in the time of COVID-19: A new eBook|  Richard Baldwin, Beatrice Weder di Mauro  VOX CEPR Policy Portal 6 Mar 2020
'Oil price wars in a time of COVID-19| Rabah Arezki, Rachel Yuting Fan  VOX CEPR Policy Portal 10 Mar 2020
'Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes|  Richard Baldwin, Beatrice Weder di Mauro  VOX CEPR Policy Portal 18 Mar 2020
'What the stock market tells us about the consequences of COVID-19|  Stefano Ramelli, Alexander Wagner   VOX CEPR Policy Portal 12 Mar 2020
'A risk-centric perspective on the central banks’ Covid-19 policy response|  Ricardo Caballero, Alp Simsek   VOX CEPR Policy Portal 30 Apr 2020

'Coronavirus: What shape will the recession be V  U  W  L  |  Peter Hoskins  BBC News 10 May 2020
'Coronavirus: Pandemic sends US jobless rate to 14.7% US unemployment BBC News 8 May 2020
'Bank of England warns of sharpest recession on record UK downturn  |  Szu Ping Chan  BBC News 7 May 2020
'Covid-19 has become an 'economic crisis' says chief economist|  Douglas Fraser  BBC News 21 Apr 2020
'COVID-19: Implications for business'  (Full report or here) |  McKinsey  13 May 2020
'The Social and Economic Impact of Covid-19 in the Asia-Pacific Region' (Document) |  United Nations Development Programme  28 Apr 2020
The OECD on COVID-19 |  OECD  2 Apr 2020
Covid-19 statistical resources (BIS, Bank for International Settlements) BIS  2 Apr 2020

Covid-19 transmissions  Nextstrain (Real-time tracking of pathogen evolution)  Beginning   End (12 May 2020)
  'Coronavirus: Are the lockdowns actually working?'  |  Abacaba  Youtube  23 Apr 2020
  'Coronavirus update: Recoveries vs. deaths in each country'  |  Abacaba  Youtube  28 Feb 2020 

A Covid false dilemma? Saving people vs saving the economy  A chart by Luis Huete ( in Spanish)
Spanish study on Covid-19 antibodies (IgG anti SARS-CoV-2, impact on Spanish provinces)   Deaths by Covid-19 in Spain (17 Mar - 17 May 2020)
  'Antibody study shows that 5% of Spaniards have contracted coronavirus'  |  elpais.com  14 May 2020

'The Global Economic Impact of COVID-19|  Nomura    Apr 2020
'Open letter to the EU and European leaders: ‘We need Renaissance bonds to face the health and economic crisis’|  voxeurop   6 Apr 2020
'Flattening the COVID-19 Curve in Developing Countries|  Ricardo Hausmann  Project Syndicate  24 Mar 2020
'Think The COVID Catastrophe Is Expensive? The Climate One Could Cost $1 Quadrillion|  Steve Zwick   17 Apr 2020
COVID is round 1 - climate change comes next  Cartoon (source)   KAL
'The coronavirus spreads to the markets and monetary policy takes urgent action'  ( Monthly report) |  caixabankresearch  16 Apr 2020
'COVID-19: Europe needs a catastrophe relief plan|  Agnčs Bénassy-Quéré et al. VOX CPR Policy Portal  11 Mar 2020 

'The ABCs of the post-COVID economic recovery|   Louise Sheiner & Kadija Yilla  Brookings  4 May 2020 
'Z, V or 'Nike swoosh' – what shape will the COVID-19 recession take?|  Peter Beech  weforum.org  19 May 2020
'Challenges and Opportunities in the Post-COVID-19 World' ( Report) |     weforum.org  19 May 2020 
'Viral recessions: Lack of demand during the coronavirus crisis|  Veronica Guerrieri et al. VOX CPR Policy Portal  6 May 2020 
'Europe's COVID Crossroads|  Bertrand Badré , Mathilde Lemoine Project Syndicate  18 May 2020
'Predicting the supply and demand shocks of the COVID-19 pandemic|  R. Maria del Rio-Chanona et al. Project Syndicate  16 May 2020
'The Great Lockdown: Worst Economic Downturn Since the Great Depression|  Kristalina Georgieva   IMF  23 Mar 2020
'Covid-19 highlights problems of dollar dominance|  Nicky Morris    Mar 2020
'Covid-19 and corporate sector liquidity|  BIS  28 Apr 2020
A Good Life For All Within Planetary Boundaries (The Wellbeing–Consumption Paradox) World database on happiness
Fighting the COVID-19 Sack cartoon: The outbreak and the economy
'Merkel and Macron propose €500bn EU rescue fund|  Daniel Boffey  The Guardian  18 May 2020


In Catalan
'La tempesta perfecta| Joan Josep Queralt elnacional.cat 29 Mar 2020
'La renda bŕsica, una eina per frenar la crisi del coronavirus?| Nació digital 29 Mar 2020
'La caiguda de l'imperi americŕ i la Tercera Guerra Mundial| Jordi Barbeta elnacional.cat 29 Mar 2020
'El govern dels irresponsables| Agustí Colomines elnacional.cat 30 Mar 2020
'El BOE de mitjanit no sap economia'  | Vilaweb 30 Mar 2020
'Espanya és a la ruďna'  | Jordi Galves  elnacional.cat 1 Apr 2020

Covid-19 in Catalonia  | Gencat
Policy proposals by the President of the Government of Catalonia  31 Mar 2020
'Crisi econňmica i Covid-19'  |  Pere Pugčs  elmón.cat  3 Apr 2020
'R.M. Nogués: S'estŕ demostrant que el mite de sotmetre la natura és més fantasiós que mai'  |  Pep Martí  Naciódigital  4 Apr 2020 
'Serŕ aquesta crisi econňmica molt més greu que la del 2008? Parlen els experts'  |  Pep Martí  Naciódigital  5 Apr 2020
'Estem tots en perill'  |  Xavier Montanyŕ  Vilaweb  5 Apr 2020
'La societat del risc global'  |  Lluís Font  Naciódigital  5 Apr 2020

'Resistirŕ el govern Sánchez?'  |  José Antich  elnacional.cat  7 Apr 2020
'Eudald Carbonell: ‘Tenir líders és el pitjor que ens pot passar, i ara es veu’'  |  Andreu Barnils  elnacional.cat  16 Apr 2020
'El coronavirus provoca la demanda més alta d'efectiu en la zona euro en els últims deu anys'  |  elmón.cat  16 Apr 2020
'No és una guerra'  |  Gonzalo Boye  elnacional.cat  17 Apr 2020

'Guy Standing: ‘La renda bŕsica universal seria meravellosament alliberadora’'  |  Andreu Barnils  vilaweb.cat  15 Apr 2020
'Jordi Sunyer: ‘La crisi climŕtica serŕ més greu que aquesta pandčmia’'  |  Oriol Bäbler  vilaweb.cat  15 Apr 2020
'Yan Lianke: ‘La Xina no és tan forta com es pensa’|  vilaweb.cat 20 Apr 2020
'Noam Chomsky: ‘Els científics ja sabien que vindrien més pandčmies i no s’hi ha fet res’|  Cristina Magdaleno  vilaweb.cat 21 Apr 2020
'Covid-19: un canvi d’čpoca i geopolític|  Manuel Manonelles  vilaweb.cat 14 Apr 2020

'Esperaven un miracle?|  Jordi Maluquer de Motes  elnacional.cat  23 Apr 2020
'Periodistes i científics: la utopia de l’objectivitat|  Xavier Ginesta  elmón.cat  24 Apr 2020
'La Generació C|  José Manuel Garayoa  elnacional.cat  26 Apr 2020
'José Mujica: ‘S’ha tornat a demostrar que l’ňrgan humŕ més sensible no és el cor sinó la butxaca’|  Raul Martínez  vilaweb.cat  26 Apr 2020
'Ja són 694.000 els catalans afectats per 94.500 ERTO|   ACN   elmón.cat  27 Apr 2020
'La crisi de la covid-19 provoca un augment de les persones inactives sense precedents|   elmón.cat  28 Apr 2020
'Antoni Abad: ‘Les mesures econňmiques de l’estat espanyol són ridícules i irracionals comparades amb les europees''  |   Josep Rexach Fumanya  vilaweb.cat  27 Apr 2020
'Oriol Quintana: «Aquesta crisi no portarŕ canvis de fons, només farŕ més eficaç el sistema»|   Pep Martí  naciódigital.cat  25 Apr 2020
'Adelaida Sarukhan: «Per prevenir nous virus hem d'aturar la desforestació i la invasió d'hŕbitats»|   Pep Martí  naciódigital.cat  26 Apr 2020
'Així evoluciona el coronavirus a Catalunya, dia a dia|   naciódigital.cat  7 May 2020  7 May 2020

'La renda bŕsica, el repartiment del treball i el capital social'  Part 1  Part 2  Part 3  |  Lluís Torrens i Mčlich  larepublica.cat  30 Jul - 2 Dec 2019
'Carme Teixidó: ‘Entre els autňnoms hi ha molta desesperació’'  Andreu Barnils  vilaweb.cat  28 Apr 2020
'Caiguda histňrica del PIB espanyol pel coronavirus: s'enfonsa un 5,2% trimestral|  elnacional.cat  29 Apr 2020 
Covid-19 crisis management in Spain  |  Jordi Galves  larepublica.cat  29 Apr 2020
'L’hispanovirus Hispavid-20|  Joan Rovira  elmon.cat  29 Apr 2020
'Capital París' |  Tian Riba  elnacional.cat  30 Apr 2020
'El coronavirus pot fer caure l'economia catalana fins a un 8,8%' |  Carlota Serra  elnacional.cat  30 Apr 2020
'Treball i lleure post-COVID-19|  Pere Pugčs  elmón.cat  29 Apr 2020

'Hem oblidat els vincles histňrics tan forts entre els ‘experts científics’ i l’autoritarisme' |  Thomas Harrington  vilaweb.cat  24 Apr 2020
'Jeremy Rikin: 'Estem amenaçats d'extinció i la gent ni ho sap'' |  Juan M. Zafra  elnacional.cat  3 May 2020
'Martínez Alier: ‘El PIB és un invent metafísic per a disciplinar la gent’' |  Xavier Montanyŕ  vilaweb.cat  3 May 2020
'L’čxit cubŕ amb la Covid-19' |  Andreu Barnils  vilaweb.cat  3 May 2020
'Només el 35% dels comerços catalans aixeca la persiana el dia de reobertura' |  Carlota Serra  elnacional.cat  4 May 2020

'Joan Martínez Alier: ‘El PIB és un invent metafísic per a disciplinar la gent’' |  Xavier Montanyŕ    vilaweb.cat  3 May 2020
Avanç del PIB trimestral T1/2020     Press release  |  Idescat  7 May 2020   Macro aggregates  Indicators
Informació estadística per al seguiment de l'impacte de la COVID-19   Covid-19 in Catalonia (24 Feb - 06 May 2020)  Cases  Deaths  Idescat 
'Nińo Becerra: ​'L'Espanya postvirus tindrŕ unes xifres que forçaran el rescat'' |  Carlota Serra  elnacional.cat  6 May 2020
'Manuel Delgado: ‘L’única manera de resoldre aquesta situació és obeint’' |  Andreu Barnils  vilaweb.cat  7 May 2020
'Així serŕ el món després del coronavirus, segons Michel Houellebecq' |  Pep Antoni Roig  elnacional.cat  5 May 2020
'El Constitucional alemany tomba el programa de compra de deute del BCE' |  Europa Press  elnacional.cat  5 May 2020
'El coronavirus s'endú 213 vides més en 24h a Espanya, a les portes de la fase 1' |  elnacional.cat  7 May 2020  Spain  Cases  Deaths
'Els paďsos liderats per dones han gestionat millor la crisi del Covid-19' |  Cčlia Forment i Bori  elnacional.cat  9 May 2020

'Angela Merkel, rotunda: "L'Estat-nació no té futur"' |  Lluís Bou  elnacional.cat  20 May 2020  ( Merkel's  statement (source) English translation)
'Un estudi conclou que el 76% del pic de la pandčmia a l’estat espanyol prové dels trajectes amb origen i destinació a Madrid' |   vilaweb.cat  17 May 2020


In Spanish
'Coronavirus: la Naturaleza no negocia| Xavier Ferrŕs 13 Mar 2020
'Lo que la historia nos enseńa sobre las consecuencias económicas de grandes epidemias|  Marina Estévez Torreblanca eldiario.es 15 Mar 2020
'Por un abordaje humano de la crisis del coronavirus| Carlos Sánchez Mato / Yayo Herrero ctxt.es 16 Mar 2020
'La otra curva del coronavirus: żestá Espańa preparada para una nueva crisis económica?|  Analía Plaza eldiario.es 17 Mar 2020
'Cuatro escenarios para el impacto económico del coronavirus|  Jose María Rotellar  Expansión 17 Mar 2020 

'Muchos avales y poco gasto: el impacto de las medidas económicas sobre el coronavirus|  Miguel Carrión eldiario.es 19 Mar 2020
'FMI: 'La recesión por el coronavirus será al menos tan grave como la crisis financiera mundial'|  Rodrigo Ponce de León eldiario.es 23 Mar 2020
'Contra la narrativa centroeuropea derechista| Daniel Bernabé Público.es 28 Mar 2020
'La crisis del coronavirus destruyó 900.000 empleos en la última quincena de marzo| Laura Olías eldiario.es 2 Apr 2020  Social Security affiliation (Spain)  1  2
'El confinamiento se alargará y la vuelta al trabajo la tendremos que hacer de forma escalonada| eldiario.es 2 Apr 2020
'El batacazo del empleo en la crisis del COVID-19 evidencia de nuevo el problema de gran temporalidad laboral en Espańa|  L Olías R Sánchez  eldiario.es 2 Apr 2020
'D. Sassoli: Este virus nos dice que si no damos una respuesta europea, los fenómenos globales aplastarán a nuestros países|  Andrés Gil  eldiario.es 2 Apr 2020
COVID-19 in US  1 Apr 2020 (el diario.es)
COVID-19 in Spain  |  Government of Spain  Spain 6 Apr 2020 
'Para la Unión Europea, el coronavirus puede ser mortal|  Jennifer Rankin  eldiario.es 4 Apr 2020
'El coronavirus es solo la primera crisis. Estas son las cuatro que la seguirán|  Fareed Zakaria 6 Apr 2020

'El Papa recomienda que se instaure una renta básica universal|  Carlos Esteban infovaticana  13 Apr 2020
'Kate Raworth - La 'economía del donut'|  Belén Kayser  eldiario.es  16 Apr 2020  (Kate Raworth and doughnut economics)
'Piketty: "No podemos funcionar en esta crisis con el veto permanente de países como Alemania"|  Andrés Gil  eldiario.es  29 Apr 2020 
'Geopolítica después de la pandemia|  José Enrique de Ayala  eldiario.es  25 Apr 2020

'El coronavirus hunde el PIB europeo con una caída del 3,8%|  Andrés Gil  eldiario.es 30 Apr 2020
'El PIB sufre un desplome histórico del 5,2%|  B Amigot  Expansion  Cover page  30 Apr 2020
'Espańa se suma a la histórica caída de la economía mundial' (El PIB espańol se ha contraído un 5,2% en el primer trimestre de 2020) | Marina Estévez Torreblanca  eldiario.es 30 Apr 2020
Stability Programme of Spain 2019-2022  |  hacienda.gob.es ( Update  Sent to European Commission1 May 2020
'El Gobierno prevé que el PIB se hunda un histórico 9,2%, el paro se dispare al 19%'  |  Expansion  Macroeconomic scenario 2020-21  1 May 2020

  Sostenibilidad: modelos para una sociedad con futuro Telos 113 (Fundación Telefónica)
'Eudald Carbonell: 'El capitalismo es un sistema caduco'|  Neus Tomŕs  eldiario.es  30 Apr 2020
'Consecuencias económicas de la pandemia|  Antonio González  economistasfrentealacrisis.com  30 Apr 2020
  'Lucas Chancel: "La falta de solidaridad de los países del norte puede significar el fin de la Unión Europea'|  Marina Estévez Torreblanca  eldiario.es  2 May 2020

'José María Ezquiaga: "La ciudad pos-COVID será la ciudad posautomóvil"|  Sofía Pérez Mendoza  eldiario.es  6 May 2020
'8 lecciones desde Asia: esto es lo que hay que exigir a los gobiernos para contener el virus|   Devi Sridhar -  eldiario.es  6 May 2020
'Las previsiones de la UE sitúan a Espańa entre los países con mayor descalabro económico por la crisis del coronavirus|  Andrés Gil  eldiario.es  6 May 2020
'Borrell: "El coronavirus ha desequilibrado el mundo, hay un desorden multipolar dominado por la rivalidad EEUU-China"|  Andrés Gil  eldiario.es  7 May 2020
'Desprotegidos: La desigualdad se propaga con el coronavirus|  eldiario.es & OXFAM Intermón

'żSe puede atender a 120 adolescentes a distancia? El confinamiento da razones a los docentes para que se bajen las ratios|   Daniel Sánchez Caballero  eldiario.es  1 May 2020
'Falta de medios, clases online que son un desastre y evaluación draconiana: la situación de los universitarios|  Víctor Rodríguez  eldiario.es  11 May 2020
'Las élites nos han fallado: es la hora de construir una república europea|   Lorenzo Marsili / Ulrike Guérot  eldiario.es  16 May 2020
'Una paradoja para una pandemia|  Sara Rueda Fernández  eldiario.es  18 May 2020
'La responsabilidad es nuestra: correlación entre mortalidad del Covid-19 y movilidad|  Naukas  15 May 2020


In French
'Covid-19 : fin de partie ?!| Jean-Dominique Michel 18 Mar 2020
'Je ne crois pas aux déclarations du genre « rien ne sera plus jamais comme avant » - Michel Houellebecq' |  Augustin Trapenard  4 May 2020


In Italian
'Pier Paolo Pasolini (1922-1975) sulla societŕ dei consumi| Youtube  (how exogenous to the economy really is the COVID-19 pandemic?)
 
 



 
 


Contents   

  A summary 
 
  0. Preliminaries

  1. Orthodox model of money creation

          European Central Bank  Eurozone monetary aggregates   

  2. The competitive liquidity market model 

           Nasdaq 1971-2020 | 2000-2020 | 2008-2020 | 2018-2020 | 2019-2020  
  
       S&P 500 1927-2020 | 2008-2020 | 2019-2020 | Oct 2019 - Mar 2020   
           IBEX 35 1993-2020 | 2015-2020 | 2019-2020   Nikkei 225 1965-2020 | 2016-2020   
           Dow Jones Industrial 1985-2020 | 2009-2020 | 2018-2020   
 
  3. The competitive currency market model 

  
       USD-EUR 1999-2020 | 2016-2020  GBP-EUR 1999-2020 | 2016-2020   
          JPY-EUR 1999-2020 | 2016-2020   CNY-EUR 2005-2020 | 2016-2020 | 2019-2020 
          USD-BTC 2014-2020 | 2018-2020    

  4. GDP, inflation rate, sectoral identity, savings identity 

  5. The aggregate sypply, aggregate demand model 

  6. Real interest rate, Fisher equation, arbitrage and speculation 

  7. Unemployment and business cycle (selected sections are the fundamental ones for the final exam

  8. Macroeconomic policy (selected sections are the fundamental ones for the final exam   



Problem sets
  
  Problem set 1  |  Money   

  Problem set 2  |  Interest rate
 

  Problem set 3  |  Exchange rate

  Problem set 4  |  GDP, inflation rate
 

  Problem set 5  |  Macroeconomic policy



Links

  Visual capitalist     
  Tradingeconomics   
  European Central Bank  (Macroeconomic statistics) 
  The Spanish economy   
  The economy (free online textbook) 
  Heterodox economics newsletter  
  Maddison Project Database 2018     
  Our world in data     
  Gapminder  

'How the economic machine works' (Ray Dalio)    

'Coronavirus: 8 charts on how it has shaken economies' (BBC news, 6 Mar 2020) 
'Old economy' vs 'New economy | Nicole Matos 11 Aug 2013 
'La generació T ens ha arruďnat' (in Catalan)  | Josep Sala i Culell 4 Nov 2013 

EJAtlas - Global Atlas of Environmental Justice   |   EJAtlas 7 May 2020 

  'Economics in the time of COVID-19'  Centre for Economic Policy Research  
  European Central Bank Annual Report 2019  (source)

 
Evaluation 

1st call

35% of the final mark: mid-term activities and mid-term exam 
25% of the final mark: end-of-term exam (Thursday 21 May 2020)
40% of the final mark: final exam (Thursday 28 May 2020, 18:00)
    It is necessary to pass the final exam to pass the course
   

  Exam 1 (Topic 1)  |  5 March 2020  


  Mid-term exam (mostly, on topics 2, 3 and 5): Thursday 14 May 2020 11:00-13:00    Voluntary 
       The brave: Anna, Bernat, Ivan, Gemma, Júlia, Ivette, Paula  
  Answers to the mid-term exam 


  End-of-term exam: Thursday 21 May 2020 11:00-13:00     Recommended 


  Final exam: Thursday 28 May 2020 18:00-20:00      Mandatory
  

The mark for the 1st call will take into account, in a fair and flexible way all the exams (final,  end-of-term and mid-term), class attendance (up to the 12th of March) and any other items showing the efforts made to study the topic.


Unless otherwise explicitly stated, exams will be held online. A few minutes before the start of the exam, a message containing a link to download the exam will be sent to your URV student email account (not to a personal email account). Write down on paper your answers. Do not copy the statements. Use different sheets for different answers. Identify clearly the question you answer. Scan or make a picture of each sheet. Email your answers (preferably as a pdf document) to aqa@urv.cat before the end of the exam. A bonus is given for rapidness. If you experience any trouble or have any doubt while taking the exam, send an email explaining your troubles or doubts to aqa@urv.cat.


(
To improve the final mark, students can deliver their solutions to any subset of the questions in the eight exams from the 2018-19 academic year. The exams are available here. For the multiple choice questions provide a justification of the answer and explain as well why the wrong options are wrong. Solutions can be sent by email to aqa@urv.cat before the date of the first final exam. The document containing the solutions need not include the statements: just indicate the date of the exam and the question number.)
 


2nd call

100% of the mark: final exam (Wednesday 17 June 2020, 18:00) 


Message from the dean's office on evaluation (in Catalan)
 
Acuerdo de REACU ante la situación de excepción provocada por el COVID-19 |  REACU 3 Apr 2020

Reflexiones  sobre  criterios  generales para  la adaptación del sistema universitario espańol ante la pandemia del Covid-19, durante el curso 2019-2020 |  Ministry of Universities  4 Apr 2020


'Evaluaciones online y clases rotatorias: el ministerio avanza la adaptación de las universidades a la era coronavirus'  (in Spanish) |  Daniel Sánchez Caballero  eldiario.es   23 Abr 2020

Instructions for online evaluation |  URV  19 May 2020



Spanish macroeconomic scenario 2020-2023  [before the COVID-19 crisis]

Macroeconomic forecast 2020-2023 for Spain by the Spanish government
  lamoncloa.gob.es (in Spanish) | 11 Feb 2020

  Macroeconomic scenario 2020-2023  (in Spanish)
  Fiscal policy goals 2020-2023  (in Spanish)
  
Spain, Autonomous Communities, public debt over GDP, 2019  (in Spanish) | lasprovincias.es  31 Mar 2020
US debt  |  US debt clock  2 Apr 2020



Last update: 17 June 2020 · 18:00