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Programme d'approfondissement - ECO_52661_EP : Macroéconomie II

Domaine > Economie.

Descriptif

This course is a graduate level introduction to macroeconomics, with a special focus on business cycle issues. The
level is rather advanced, but no prior knowledge in the field is assumed. 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 within a common framework that emphasizes the importance of
microfoundations, rational expectations, and general equilibrium.

There is no textbook that covers all the material of the course. Useful textbooks nevertheless include:
 Blanchard, O.J. and Fisher, S. (1989), Lectures on Macroeconomics, Cambridge, MA: MIT Press
 Gali, J. (2015), Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian
Framework, 2nd Edition, Princeton, NJ: Princeton University Press
 Ljungqvist, L. and Sargent, T.J. (2018), Recursive Macroeconomic Theory, 4th Edition, Cambridge, MA: MIT
Press
 Miao, J. (2020), Economic Dynamics in Discrete Time, 2nd Edition, Cambridge, MA: MIT Press
 Romer, D. (2018), Advanced Macroeconomics, 5th Edition, New-York, NY: McGraw-Hill
 Walsh, C.E. (2017), Monetary Theory and Policy, 4th Edition, Cambridge, MA: MIT Press

Objectifs pédagogiques

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.

49.5 heures en présentiel

effectifs minimal / maximal:

/72

Diplôme(s) concerné(s)

Parcours de rattachement

Pour les étudiants du diplôme Titre d’Ingénieur diplômé de l’École polytechnique

ECO 431 (Microéconomie, 2A) ou ECO 550 (Microeconomics, 3A)

Format des notes

Numérique sur 20

Littérale/grade réduit

Pour les étudiants du diplôme Titre d’Ingénieur diplômé de l’École polytechnique

Vos modalités d'acquisition :

● Sans document

written final exam (closed book, no calculator)

Le rattrapage est autorisé (Note de rattrapage conservée)
    L'UE est acquise si note finale transposée >= C
    • Crédits ECTS acquis : 5 ECTS

    La note obtenue rentre dans le calcul de votre GPA.

    Pour les étudiants du diplôme Programmes d'échange internationaux

    Vos modalités d'acquisition :

    written final exam (closed book, no calculator)

    Le rattrapage est autorisé (Note de rattrapage conservée)
      L'UE est acquise si note finale transposée >= C
      • Crédits ECTS acquis : 5 ECTS

      Pour les étudiants du diplôme M1 MiE - Master en Economie

      Vos modalités d'acquisition :

      written final exam (closed book, no calculator)

      Le rattrapage est autorisé (Note de rattrapage conservée)
        L'UE est acquise si Note finale >= 10
        • Crédits ECTS acquis : 8 ECTS

        Programme détaillé

        The course consists of 18 two-hour lectures covering 9 topics, each followed by a problem class of 90 minutes.
        Students are expected to complete the weekly problem sets which are an integral part of the course.
        Lecture 1: Traditional Macroeconomics: The IS-LM AD-AS Model
        Lecture 2: Consumption
        Lecture 3: Investment, The Ramsey Model
        Lecture 4: The Determination of the Price Level
        Lecture 5: Real Business Cycle Theory
        Lecture 6: The New Keynesian Framework
        Lecture 7: Asset Pricing, The Aiyagari Model
        Lecture 8: Search Models of the Labor Market
        Lecture 9: The Great Recession and Secular Stagnation

        Mots clés

        Cycle économique, politique monaitaire et fiscale, chômage, Actifs financiers, Dépression
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