Advanced Macroeconomics

The aim of this course is to provide students with an introductory survey of some selected major aspects of modern macroeconomic theory. The course will enable students to better their knowledge and understanding of macroeconomics and of macroeconomic policy.

By the end of the course, students will be equipped with analytical tools for improving their knowledge and understanding of some major real-world macroeconomic issues (for example: why delegating monetary policy to an independent central bank? Should government fiscal policy be constrained by rules? Which factors can trigger bank runs or sovereign debt crises? how can government policy help to avoid them? What are the macroeconomic and welfare effects of different social security systems? Can government use fiscal policies to affect economic growth?) Students should know as well how to use economic analysis to make informed judgements about macroeconomic issues. Seminar presentations (on a voluntary basis) will enable students both to test their understanding and ability to communicate knowledge of the relevant topics and to discuss real-world macroeconomic issues with their pairs.