9 CFU (Academic Year 2023-2024 - I semester) (Laurea Magitrale in Economics)

Prof. Francesco Nucci

Classes have started on Monday the 18th of September 2023 and the class timetable is the following:

Monday, 14-16
Tuesday, 12-14
Thursday, 12-14

The room for the lectures is Room 8A in the faculty building (floor - 1)

The class code for the Classroom platform (Google suite) is the following: ed7qdtr

Programme of the course of Macroeconomics

Syllabus 2022-2023 - Macroeconomics

The course introduces to the study of macroeconomics at a more advanced level than in undergraduate courses. The syllabus of the course is attached below as a pdf file. 

The perspective taken in the course is both theoretical, with the development of formal models and the discussion of their main predictions, and empirical, with a 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.

A relevant part of the course is 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 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 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 consider the Government budget constraints and the links between consumption decisions and fiscal policy. 

A relevant part of the course focuses on short-run economic fluctuations, analyzing what the business cycle’s stylized facts are, with the well known succession of expansions and recessions, and examining the main macroeconomic models of output determination and business cycle. The DSGE models are covered during the course.

Adopted texts

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


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

Office hours

Office hours of prof. Francesco Nucci are on Wednesday from 11 to 13 or by appointment through e-mail. Office hours are held at 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 (

The syllabus of the course for the academic year 2023-2024 is attached to this site 

Calendar of the exams and their organization

The calendar of the exams throughout the academic years 2023-2024 and 2022-2023 is available on the Infostud system