Face-to-face , second term, 45 hours of theory and 30 hours of exercises.

Second term
Monday from 13:30 to 15:00 at 43 Botanique 5
Thursday from 10:45 to 12:15 at 43 Botanique 5

English

The aim of this course is to provide a conceptual framework for the analysis of macroeconomic questions. In combination with recent factual knowledge about global growth and economic activity, this conceptual framework should allow the student to grasp and critically analyze macroeconomic phenomena and problems in their various dimensions.
Upon completion of this course, the student will be able to:
• define and distinguish between the main macroeconomic variables;
• describe and explain the existing relationships and interactions between those macroeconomic variables;
• use graphical and algebraic models that clarify these relationships;
• analyze the effects of macroeconomic shocks;
• describe the various macroeconomic policy instruments and discuss their effects.

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1. The main macroeconomic variables and the National Accounts
2. Measuring aggregate prices and their evolution through time
3. The monetary system
4. The financial markets
5. The market for goods and services and the determinants of the aggregate demand
6. The IS-LM model
7. The labor market and the determinants of the aggregate supply
8. The medium-run macroeconomic equilibrium: the AD-AS model

1. Plenary lectures:
During the plenary lectures, the professor presents the concepts and mechanisms associated to the different models.
The lectures follow the course outline presented above.

2. Exercise sessions (TA sessions):
Exercise sessions are carried out in small groups and aim at checking knowledge acquisition as well as applying the theoretical concepts presented in class to solve exercises and case studies. Students should review the corresponding lectures before the session to draw full benefit from them. Those exercise sessions will also be partly devoted to the preparation of home assignments in which students are expected to manipulate macroeconomic data, read selected articles relating to macroeconomic topics and write reports.

The final grade consists of two parts:
• home assignments;
• written final exam (3h).

These two parts are weighted as follows in the final grade:
• 75 % for the written exam and 25% for the home assignments if the score obtained at the written exam is at least 50%;
• 85 % for the written exam and 15% for the home assignments if the score obtained at the written exam is less than 50%.
The grade of the home assignments is automatically reported to the next session unless the student explicitly asks for representing them.

The reference book for this course is Blanchard, Macroeconomics, Pearson, 6th Edition or former ones (the 7th and 8th Edition do not follow the same structure any more). The course will cover the first 8 chapter of the reference book.