Macroeconomics 2

Number of Credits: 7 credits

Hours: 30 hours of Lectures, 30 hours of Tutorials including exam, and 20 hours of flipped Classrooms with tutor support.

General Presentation: This course is the second one in a sequence of courses that aim to cover macroeconomics at the Graduate level. This course is dedicated to short-term macroeconomics: the determination of production and employment in an open economy; business cycles and stabilization policies, open macroeconomics, the dynamics of inflation and unemployment, the neoclassical synthesis, new Keynesian economics, imperfect competition in macroeconomics.

Course Content:

• aggregate demand and supply,
• open macroeconomics,
• exchange rates and the balance of payments,
• the dynamics of inflation and unemployment,
• stabilization policies,
• static models with imperfectly competitive product market,
• market power on product and labor markets, and underemployment,
• fiscal policy and public spendings under imperfect competition,
• monetary policy, neutrality, and nominal rigidities,
• coordination failures,
• some macro-dynamic implications of imperfect competition

Books: Romer, D (2005): Advanced Macroeconomics. New York: Mc Graw-Hill. Third Edition.

Blanchard, O. et S. Fisher (1989): Lectures on Macroeconomics. Cambridge: MIT Press.

Blanchard O. J. (2005): Macroeconomics. Prentice-Hall. Fourth Edition.

Prerequisites: Macroeconomics 1