Descriptif

This course is a graduate level introduction to modern macroeconomics. The first lecture reviews the traditional IS-LM AD-AS model, which is insightful but suffers from weak foundations. The rest of the course is dedicated to the more rigorous approach to macroeconomics that has been adopted since the 1970s. Students are initially taught standard techniques to solve dynamic optimization problems. These techniques are then applied to address a wide number of issues, including the analysis of the business cycle, within a common framework that emphasizes the importance of microfoundations, rational expectations, and general equilibrium.

By the end of the course students should have a clear view of the current state of macroeconomics, they should be able to read a large share of the recent academic literature in the field and they should be equipped with a consistent framework and methodology to think about macroeconomic issues and on which to rely to address macroeconomic policy questions.

1. Traditional Macroeconomics: The IS-LM AD-AS Model

2. Consumption

3. Investment, The Ramsey Model

4. Money

5. Real Business Cycle Theory

6. The New Keynesian Framework

7. Asset Pricing

8. International Macroeconomics

9. Unemployment

10. The Great Recession

Course taught in English

Langue du cours : Anglais

Credits ECTS : 6