Master in Economics | Models and Methods of Quantitative Economics » Study programme » First Year » Macroeconomics 2
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Quantitative Economics Master - QEM:


 Macroeconomics 2



Number of Credits: 7 credits


Hours: 4 hours per week, about 60 hours total including tests


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