Aims

The aim of the course is to give a wide-ranging survey of modern macroeconomics, so that the students are able to discern the fundamental elements of macroeconomic issues and of their formalisation.

Main themes

The course can start by introducing the empirical issues raised by growth and cycle theories. Next, it presents the concepts used for analysis (preferences, technology, equilibrium) and the necessary dynamic methods. This can be done within the framework of a model with infinitely living agents or within the framework of overlap-ping generations. Finally, a great part of the course should be devoted to show how these basic elements can be used and extended to deal with several issues, like the study of the sources of growth (endogenous growth the-ory), dynamical models of real business cycles under uncertainty, and the analysis of the impact of intergenera-tional transfers (pensions, debt, education, bequests, etc.

Other information (prerequisite, evaluation (assessment methods), course materials recommended readings, ...)

Prerequisites : Economics and mathematical tools at the level of an undergraduate program in economics.

Evaluation : Written or oral exam, closed book.

Support : Romer 'Advanced Macroeconomics' is an example of a reference textbook.

Other credits in programs