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 Lecture notes
 Presentation
Main ideas | Compendium of ideas
1a. Main macroeconomic variables | big slides | small slides
GDP, inflation rate, unemployment rate
1b. The real side: macro identities | big slides | small slides
investment = private saving + government saving + foreign saving
1c. The financial side | big slides | small slides
money, financial assets, interest rates, money multiplier
That thing called financial crisis
2a. The loan market model | big slides | small slides
open market operations, demand for loans, supply of loans,
equilibrium (nominal) interest rate, real interest rate, Fisher effect
2b. The currency market model | big slides | small slides
foreign exchange rate, demand for €, supply of €, arbitrage,
impossible trinity, real exchange rate, purchasing power parity
2c. The AS-AD model | big slides | small slides
aggregate supply, aggregate demand, macroeconomic equilibrium,
business cycle, Phillips curve, Okun's law
The multiplier effect in action
3. Macroeconomic policy | big slides | small slides
monetary policy, European Central Bank, quantity equation,
Taylor's rule, classical dichotomy, fiscal policy, Goodhart's law
Bibliography
 B. Bernanke & R. Frank (2007): Principles of Macroeconomics 3/e
C.I. Jones (2010): Macroeconomics (Economic Crisis Update)
The lectures from his Macroeconomics course are available here.
Some books can be previsualized in Google Books, for instance:
N.G. Mankiw (2009): Principles of Macroeconomics 5/e
Slides from the textbook Economics by P. Krugman and R. Wells
 Most recommended
G.R. Evans: The loanable funds model
G.R. Evans: The aggregate supply-aggregate demand model
W. Vickrey: 15 fatal fallacies of financial fundamentalism
The Spanish Economy
Problem sets
Problem set 1 | GDP, inflation rate, unemployment rate
Problem set 2 | Real side and financial side
Problem set 3 | The loan market
Problem set 4 | The currency market, foreign exchange rate
Problem set 5 | The AS-AD model
Problem set 6 | Monetary policy, fiscal policy
Data and graphs
 GDP, third quarter 2010, Spain | GDP Spain (1995-2010)
Taken from INE
Current Account, Spain (1980-2015)
Taken from World Economic Outlook October 2010
France, Italy, Kazakhstan, Poland, Spain (1980-2015)
Taken from World Economic Outlook October 2010
The G7: real GDP growth and inflation rate (1980-2015)
Taken from World Economic Outlook October 2010
Germany, France, Italy, Spain (1820-2008)
Taken from The World Economy: Historical Statistics
Interest rates, Spain (1990-2010)
Taken from INEbase
Charts for the Eurozone
Taken from ECB Monthly Bulletin, February 2011
Dow Jones (1928-2011) and IBEX-35 (1992-2011)
Taken from Yahoo Finance and IBEX-35.com
Euribor (1997-2011)
Taken from European Banking Federation
Euro vs Yen (01/03/11-21/03/11)
Taken from European Central Bank
Spain: GDP growth of autonomous communities (25/03/11)
Interest rates of central banks
€-coin : real time indicator of the euro area economy
Taken from CEPR
The Phillips curve and Okun's law: some graphs
Phillips curve, Spain (1976III-2010IV)
Taken from INEbase
ECB Statistical Warehouse Quick View
Fun
Most powerful people in the world (2010)
Most dangerous pseudoscience
The Ferengi rules of acquisition
Macro statistics to forecast presidential elections
Recovery
US National Debt Clock
String theory (can you see some resemblance to macro theory?)
The rules for students (attributed to Bill Gates)
See also here
Are you a bonobo or a chimpazee? (20/05/11)
World POPclock
According to the International Programs Center, U.S. Census
Bureau, the total population of the World, projected to the 21st of
May, 2011, at 09:40 UTC (EST+5) is 6,919,775,688.
Erlich (27/05/11)
Españistán (YouTube)
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Continuous assessment and exams
1st examination period
20% (of the final mark) : best two results
of three mid-term exams 1st 2nd 3rd
5% : XVII Economics Symposium
15% : assignment
1. Consists of the description, comment,
and analysis of some piece of news, like
"Rising interest rates?" below.
2. The student chooses the article, which
should preferably be in English.
3. The analysis must resort to models (in
which case graphical depictions should be
included) or results from the course.
4. Length: maximum 6-7 pages.
5. Give in a copy in paper or send a PDF
file to aqa@urv.cat not later than 19/05/11.
60% : final exam 31/05/11 12:00 P1 P2
Surprise exam
Another surprise exam
2nd examination period
100% of the overall mark : final exam (like 20/06/11 12:00 Part 1 Part 2
Marks
From the surprise exam (10/03/11)
From the 1st mid-term exam (14/04/11)
Revised version: 15/04/11 · Thanks to
Konstancja for pointing out errors
From the 2nd mid-term exam (12/05/11)
From the 3rd mid-term exam (19/05/11)
From the final exam (31/05/11)
Final mark (1st examination period)
Final mark (2nd examination period)
Web sites
The World Economy · Historial Statistics
Penn World Table · Version 6.3
World Economic Outlook 2010 Database
European Central Bank · Statistics
Indexmundi
Trading Economics
The World Factbook (CIA)
Inflation Data
INE · Spanish National Accounts
INE · Surveyed Spanish unemployment
INE · Spanish Consumer Price Index
Idescat (Catalonian official statistics)
Resources for Economists on the Internet
Dismal Scientist (Economics made clear)
The Economist (not all contents free)
Economagic (not all data free)
Course material on International Economics
Sloman Economics News Site
Merriam-Webster (on-line dictionary)
Collins revers (on-line translation)
Readings
E. Maskin on economic theory and the crisis
ECB Monthly Bulletin February 2011
Rethinking macroeconomic policies
Impact of Basel 3 on GDP
Io servo chi mi paga
Pricing Spanish T-bills
Rising interest rates? 24/02/11
Madoff: "Everyone was greedy"
(article in Spanish, 01/03/11)
Ponzi scheme · Spanish mini-Madoff
Capital flight (07/03/11)
Factoring (07/03/11)
CPI (12/03/11)
BOJ pumps money 13/03 14/03 15/03/11
Bank for International Settlements (13/03/11)
BIS site
Quakeconomics 15/03/11 20/03/11
Evolution of the yen (& 17/03/11)
Increasing inflation (17/03/11)
ECB: second thoughts (17/03/11)
The Fifth Horseman of the Apocalypse:
speculators (17/03/11)
How will disaster affect Japan's economy?
(20/03/11)
Should the ECB raise rates? (11/03/11)
CAREC Report
Adoption of policy rules (26/03/11)
Rising inflation (30/03/11)
On Goodhart's law · More · More · And more
"The most important book ever written"
The seven deadly innocent frauds
Iceland (03/04/11)
Implementation of monetary policy (ECB)
Speech by the governor of the Spanish CB
"Estamos mal, pero vamos bien" (07/04/11)
Government budget in the US (08/04/11)
A booming economy (15/04/11)
Five millions (Le Monde, 29/04/11)
La mort de BL fait grimper le dollar (02/05/11)
Save the west (guardian.co.uk, 02/02/09)
Draconian rescue (05/05/11)
Greece again (09/05/11)
The private debt problem (12/05/11)
Krugman on austerity (22/05/11)
Perfect storm (26/05/11)
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