Macroeconomics, 1st semester 2015
Lecturer: David Duhamel
David.duhamel@sciencespo.fr
Course Overview
Macroeconomics is about the performance of economies and of economic policies implementing by
government in order to reach desirable economic outcome. The issues traditionally addressed by
macroeconomics are the following: what determines a nation’s long-run economic growth? What
causes a nation’s economic activity to fluctuate? What causes unemployment? What causes prices to
rise? How does being part of a global economic system affect nations’ economies? Can government
policies be used to improve a nation’s economic performance?
While presenting some answers, the course will be structured along three time periods: the short,
the medium and the long run. There will also be a special focus on the world economy global stage.
Blanchard and Johnson, 2013, Macroeconomics, Pearson, 6th edition (global edition) is the favored
textbook for the course.
Students are also strongly encouraged to regularly check out the following blogs or sites
http://gregmankiw.blogspot.com/
http://topics.nytimes.com/top/opinion/editorialsandoped/oped/columnists/paulkrugman/index.htm
l
http://economistsview.typepad.com/economistsview/
http://Gapminder.org
http://new2econ.wordpress.com/
Learning outcomes
By the end of the course students should master the basics of IS-LM model and of the AS-AD model.
They should understand the assumption underlying the efficiency of fiscal policy and monetary policy
and their limits, in particular for an open economy in a globalized word. The students should
understand the issues at stake when debating the business cycles and the ability of economic policies
implemented by governments to successfully reduced economic fluctuations. Finally students should
master the basics of the Solow model of economic growth and of the endogenous economic growth.
Course assessment
Grades from the conferences
Final exam
2/3
1/3
Schedule
Lecture 1: Macroeconomics: The Big Picture
Lecture 2: The Goods market.
Lecture 3: Financial markets
Lecture 4: The Market Equilibrium in the short run: The IS-LM Model
Lecture 5: Budgetary and Fiscal Policies
Lecture 6: Monetary Policies
Lecture 7: The AS-AD Model
Lecture 8: Structural Policies and the Phillips Curve
Lecture 9: Business Cycles and Economic Policies in a globalized world
Lecture 10: Growth
Lecture 11: Development