(a course taught in english)

(6 CFU; Academic Year 2021-2022)

Prof. Francesco Nucci

The lectures of Macroeconomics by Professor Francesco Nucci start on Monday the 27th of October 2021. Lectures are given in blended mode with the instructor always in presence and students both in presence and in remote mode (with turnation)

The class timetable is the following:

MONDAY, 2 - 4 p.m. (Room 8A)

THURSDAY, 9 - 11 a.m. (Room 8A)

The platform used is Zoom and the link for accessing the class in remote mode is available at the following link: 

For a description of the tools for off-campus and online teaching see the floowing link:

The prodigit software for reserving a seat in the class is available at

The instructor has created a virtual class with the platform Classroom in order to share teaching material and directly communicate with students

Programme of the course of Macroeconomics

The course introduces to the study of macroeconomics at an advanced level. The syllabus of the course is attached below as a pdf file. The perspective taken in the course will be both theoretical, with the development of formal models and the discussion of their main predictions, and empirical, with focus on the stylized facts and on what the data say with regard to each model’s findings.
A significant portion of the course deals with economic growth and long-run dynamics in the economy. We also focus on short-run economic fluctuations, analyzing first what the business cycle’s stylized facts are, with the well known succession of expansions and recessions, and examining the main macro models.
A relevant part of the course will be devoted to consumption and saving decisions and to firm’s investment choice. The baseline models that we consider are based on the optimal intertemporal decision on the part of households and firms. In particular, as far as consumption and saving are concerned, we will focus on the permanent-income hypothesis and on the subsequent evolution of that theory with the introduction of financial constraints and the consideration of precautionary saving. As for investment, we will consider the q theory but also focus on the firm’s ability to have access to external finance in the process of investment decision. 
We also focus on the Government budget constraints and links between consumption decisions and fiscal policy 

Adopted texts

Advanced Macroeconomics, David Romer (2019), McGraw-Hill, 5th Edition


A backgroung in macroeconomics and in microeconomics at an intermediate level is required

Office hours

Office hours of prof. Francesco Nucci are on wednesday from 11 to 13 in his office in the faculty building (5th floor, office 512). Students who prefer to meet the professor in remote mode have the opportunity to do so using the Meet platform. In that case, for having the Meet link, the student should contact the instructor by email at

To download the syllabus of the course for the academic year 2021-2022, please click below 

Calendar of the exams and their organization: the calendar of the exams throughout the academic year 2020-2021 is available on the system Infostud