Macroeconomics

Teacher(s)

De Callatay Etienne; Mariani Fabio;

Language

French

Prerequisites

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.

Learning outcomes

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.

Bibliography

Livre de référence: 
Blanchard, O. et D. Cohen (2017, 2020): Macroéconomie (7e, 8e édition), Pearson Education France.

Faculty or entity

ESPO