Descriptif

Prerequisite:ECO202
This course builds on the Intermediate
macroeconomics course (ECO202) and
will cover both the short run (business
cycles, crises, and stabilization policies)
and the long run (the determinants of
long-run economic growth). To be more
specific, the course will cover the following
topics:
Part I: Business cycles and stabilization
policies (7 lectures)
❯ The New Keynesian model of aggregate
demand and supply
❯ The propagation of business
cycle shocks
❯ C onventional monetary and
fiscal policies
❯ The liquidity trap and unconventional
policies
Part II: Economic Growth (7 lectures)
❯ Growth facts and Solow reminder
❯ Immediate causes of economic development:
human capital, physical capital,
and technology
❯ The deep causes of economic development:
geography, institutions, and
culture
❯ Innovation and economic growth
❯ Economic growth and the environment
Textbooks:
❯ Edouard Challe, Macroeconomic Fluctuations
and Policies, MIT Press, 2019
❯ Charles I. Jones and Dietrich Vollrath,
Introduction to Economic Growth, W.W.
Norton, 2013
❯ David Romer, Advanced Macroeconomics,
McGraw Hill, 2019 (5th ed.)
A complementary reading list of policy
and accessible research papers will be provided
in due time.