Contemporary Macroeconomic Issues
Objectives
Understanding macroeconomic mechanisms ; Analyzing economic policies ; Understanding the importance of measurement in economics ; Being able to find relevant data to study concrete macroeconomic issues ; Adapting models to phenomena observed in reality.rnInterpreting the link between data, models, and observed realities.
Course outline
This involves studying a series of contemporary problems using empirical and theoretical models. Indeed, economic theory is useful for interpreting events (the "reality" does not always appear directly) but at the same time these events will allow us to see what is the "right theory" to understand them. The course consists of a theoretical and formal presentation of the main models which will then be mainly used in the context of case studies of the main contemporary macroeconomic problems such as the Great Recession or the CoVid-19 crisis but also older ones such as the oil shocks, the Great Depression or the Great Inflation or finally in a more historically transversal way such as the persistence of unemployment in Europe. This course should allow an understanding of the major macroeconomic questions through the use of both theoretical and empirical tools.
Prerequisites
Introductory economics course for 1A M and S