lecge1212  2019-2020  Louvain-la-Neuve

Note from June 29, 2020
Although we do not yet know how long the social distancing related to the Covid-19 pandemic will last, and regardless of the changes that had to be made in the evaluation of the June 2020 session in relation to what is provided for in this learning unit description, new learnig unit evaluation methods may still be adopted by the teachers; details of these methods have been - or will be - communicated to the students by the teachers, as soon as possible.
5 credits
45.0 h + 15.0 h
De Callatay Etienne; Latzer Hélène; Mariani Fabio;

The prerequisite(s) for this Teaching Unit (Unité d’enseignement – UE) for the programmes/courses that offer this Teaching Unit are specified at the end of this sheet.
Main themes
The first part of the course is a detailed study of short-term macroeconomic models. It first of all analyses the determining factors of consumption and investment behaviour and looks to provide answers to the following questions: How can the existence of fluctuations in activity, employment and inflation be explained? What are the causes and consequences of foreign and budgetary deficits? What economic policies are available for dealing with dysfunctional social phenomena such as unemployment, and how effective are they, in particular for economies which are wide open to the rest of the world? The second part of the course examines endogenous price and wage setting and seeks to understand the mechanisms which explain the appearance and persistence of macroeconomic stability with high unemployment, such as can be observed today in a number of industrialised economies. Although the first part of the course introduces students to a certain number of theoretically new subjects, it also goes over some of the models normally studied within the Macroeconomics programme in first and second year. However they are presented in a much more formal and systematic way in this course, seeking to equip students with a real mastery of these basic tools of macroeconomic analysis.

At the end of this learning unit, the student is able to :

1 This Macroeconomics course equips students with the basic instruments they need to analyse short and medium term macroeconomic problems in an industrialised market economy. In particular the objective is to enable students to understand the macroeconomic discourse of institutions such as the central banks, the IMF, the OECD and evaluate it critically.

The contribution of this Teaching Unit to the development and command of the skills and learning outcomes of the programme(s) can be accessed at the end of this sheet, in the section entitled “Programmes/courses offering this Teaching Unit”.
Livre de texte

· Blanchard, O. et D. Cohen (2013, 2017): Macroéconomie (6e, 7e édition), Pearson Education France.
Faculty or entity

Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Minor in Economics

Minor in Economics (open)

Additionnal module in Geography

Bachelor : Business Engineering

Bachelor in Economics and Management

Bachelor in Philosophy, Politics and Economics

Master [120] in Geography : General