Macroeconomic Analysis · 2025/26
 
Master in Technology and Engineering Management (2017)



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 (September 2025 - January 2026)
Tuesday 7:40 - 11:00
Wednesday 
7:40 - 9:00
Friday
  7:40 - 9:00

Online · 22 September - 6 November 2025
Monday & Thursday 18:00-19:30


Timetable    
September
22
25 29



 


October
2
6
9
13
16
20
23 27 30 
November
3 6




















This page ended on 27 October 2025

 
 


Contents 
  
 
1. Introduction to macroeconomic analysis  (DRAFT)      
1.1. Orthodox and heterodox approaches to macroeconomics: role of private and public sectors
1.2. Macroeconomic approach to economic analysis: fallacy of composition and other fallacies
1.3. Three main players: finance, government, business

2. Finance I: domestic money   (DRAFT)        
2.1. Basic forms of money and the Central Bank 
2.2. Financial assets and interest rates 
2.3. Monetary policy 
  A model of money creation  

3. Finance II: foreign money   (ROUGH DRAFT) 
3.1. Exchange rates, arbitrage and speculation 
3.2. Interest rate parities and other parities 
|  Voluntary reading: Big Mac Index 
3.3. The open economy trilemma 

4. Finance III: international monetary system   (ROUGH DRAFT  
4.1. Dollar hegemony, Bretton Woods I, Bretton Woods II  
4.2. The Triffin dilemma and other financial trilemmas  
4.3. Monetary unions, the monetary union trilemma and Padoa-Schioppa inconsistent quartet

5. Government   (ROUGH DRAFT)   
5.1. The sectoral balances identity  
|    A simple model of GDP determination 
5.2. Fiscal policy and fiscal rules  
5.3. Links between fiscal and monetary policies


6. Business   (ROUGH DRAFT) 
6.1. Globalization, deglobalization and Rodrik's trilemma  |    A simple globalization model  
6.2. Kaldor's growth laws  
6.3. North-South divide, global inequality, Kuznets waves, global imbalances  
6.4. Industrial policy, international trade and development

  Nobel Prize in Economics 2025  |  Joel Mokyr | Philippe Aghion y Peter Howitt 
  'Welfare cuts are fuelling far right rise, warns UN expert' 

Assessment
 

 50%  Answers to the exercises in the problem sets 
Answers must be delivered in pdf to
aqa@urv.cat before 14:00 on 13/11/2025        
 
50%  Essay on three books · Pick one book from each of the three lists below   
The essay must be delivered in pdf to aqa@urv.cat before 14:00 on 13/11/2025 
  Instructions for preparing and writing the essay  
  List 1 of books   
  List 2 of books   
  List 3 of books    

Students will be informed of their final marks by email on Thursday 13/11/2025 
That same day, from 15:00 to 19:00, requests to review the grading will be attended  



Problem sets   |   Problem sets include instructions
 
  Problem set 1 
  Problem set 2    
  Problem set 3  
    


Planning 
 
You owe this course 75 hours of work   
You are expected to distribute the 75 hours approximately as follows  

1/3 (around 25 hours) to study the lecture notes (see the Contents section on the left)
1/3 (around 25 hours) to solve the exercises in the problem sets (see just above)   
1/3 (around 25 hours) to read the three books and write the essay    


Last update: 27 October 2025 · 01:45
This page ended on 27 October 2025