DECO 23A00 - Intermediate Macroeconomics

The main goal of the course is to provide foundations to several short- and medium-run macroeconomic topics already met in the core-econ course of the 1st year. The course will introduce the foundations of the 3-equation models that constitute the workhorse of several macroeconomic analyses. It will then apply this model to shed light on current economic policy issues, including the emergence and the management of financial and real crises, the impact of fiscal and monetary policies, the stability of economic and monetary unions. The course is organized in 4 sessions. Each session includes 2 lectures and 1 tutorial. The tutorial will be devoted to the correction of homeworks and to the revision of the material covered in the previous lectures.

Mauro NAPOLETANO

Séminaire

English

Autumn 2021-2022

50% of total score: preparation of a short essay on the course topics (1/2) plus oral presentation (1/2) 40% of total score: homework average grade 10% of total score: participation to class discussions, behavior in class, late arrival to classes, etc. Further details about the course evaluation will be provided at the beginning of the course

Session 1: the demand-side Week 1: The permanent income model of consumption and the multiplier Week 2: The investment function and the IS curve Week 3: Tutorial Session 2: the supply-side Week 4: The WS-PS model, the Phillips curve Week 5: The 3-equations model and macroeconomic policy Week 6: Tutorial Session 3: Expectations, financial markets and the macroeconomy Week 7: The role of expectations Week 8: Money, financial markets and the macroeconomy Week 9: Tutorial Session 4: Fiscal policy, public debt and the open economy Week 10: Fiscal policy and public debt dynamics Week 11: Open economy issues Week 12: Tutorial (presentations of group essays)