Macroéconomie II
- Teacher(s): P.St-Amour
- English title: Macroeconomics II
- Course given in: French
- ECTS Credits: 6 credits
- Schedule: Autumn Semester 2021-2022, 4.0h. course (weekly average)
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sessions
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course website
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Related programmes:
Bachelor of Science (BSc) in Economics
Bachelor (BSc) in Economic Sciences -
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ObjectivesMacro II is an advanced Macro course being taught in French, and offered to 3rd-year students in both Economics and in Management specializations. Other students (e.g. Mobility, qualifying year MSc, other faculties) are also admissible with professor's consent. Students are expected to have a solid grasp of Microeconomic and Mathematical Economics techniques, including optimization, partial and general equilibriums. Macro II draws parallels between the Centralized (Social planner) and Decentralized (competitive equilibrium) Economies allocations. We insist on the diffrences between the two that are induced by various distortions (fiscal, price control and rigidities, ...), as well as on the various fiscal and monetary policy tolls that can be used to alleviate these differences. The main analytical framework is the dynamic general equilibrium, and the main tool is dynamic optimization which will be introduced early on. We emphasize the Micro foundations underlying the Macro models, as well as the Econometric analysis of the various empirical regularities that these models must be able to reproduce. Contents1- Centralized economy (Wickens 2)
2- Economic growth (Wickens 3; Romer 1-3; Sørensen/W-J 5-9)
3- Decentralized economy (Wickens 4; Romer 8, 9; Sørensen/W-J 14-15)
4- Government expenditures and public finance (Wickens 5, 6; Romer 12)
5- Open economy (Wickens 7; Romer 4)
6- Introduction monetary economy (Wickens 8)
7- Monetary policy (Romer 11; Wickens 14)
8- Nominal rigidities* (Wickens 9; Romer 5-7; Sørensen/W-J 16-17)
9- Unemployment* (Wickens 10; Romer 10; Sørensen/W-J 10-12)
10- Nominal exchange rates* (Wickens 13)
*: If time permits References
EvaluationFirst attempt
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