ECUE Advanced macroeconomics

Code de l'ECUE : IMEK208

Ce cours appartient à UE Advanced macroeconomics (3 ECTS) qui contient 1 ECUE

Structure

EUR ELMI

Domaine disciplinaire

Sciences économiques

Lieu d'enseignement

Campus Saint Jean d'Angély

Niveau du cours

Master 1

Semestre

Semestre pair

Langue

Anglais

PRESENTATION

The aim of this course is to provide students an overview the evolution of the macroeconomic analysis with a special focus on business cycle theories and to present the foundations of the main theoretical approaches to business cycle analysis nowadays. The course is divided into two parts. The first one (taught by Prof. Dal Pont Legrand) will provide a critical account of the various schools of macroeconomic thought from Keynes and the Classics until recent times. The second part will instead be devoted to presenting the building blocks of Dynamic Stochastic General Equilibrium (DSGE) models that constitute the mainstream approach to business cycles and policy analysis. It will also discuss the limitations of such an approach as well as provide the basic elements of an alternative approach, notably Agent-based Macroeconomics.

Responsable(s) du cours

Présentiel

24h de cours magistral

PREREQUIS

Avant le début du cours, je dois ...

The course requires knowledge of the basic concepts of a. mathematical analysis (the notion of a function with one and many variables, limit and derivative of a function, maximum and minimum of a function under constraints, etc.) b. linear algebra (vector and matrix concepts and their manipulation) c. statistics and econometrics (linear regression, hypothesis testing, etc.). d. knowledge of microeconomics and macroeconomics

OBJECTIFS

A la fin de ce cours, je devrais être capable de...

Have a critical understanding of the evolution of macroeconomic analysis. Have knowledge of the main building blocks of the models currently used in macroeconomic and policy analysis

CONTENU

Chapitre 1 - The evolution of Macroeconomic Thought, from Keynes and the Classics to modern time

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Chapter 2: the building blocks of DSGE – The permanent income model of consumption

a) The stylized facts of consumption.

b) The Keynesian consumption function and its empirical predictions

c) The basic Permanent Income Model of consumption

d) Implications of the Permanent Income Model

e) Bringing the Permanent Income Model to data
Chapter 3: the building blocks of DSGE – The “q” theory of investment

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Chapter 4: A DSGE model for a closed economy

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An alternative approach to business cycles analysis: Agent-Based Macroeconomics

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Important

Ce syllabus n’a aucune valeur contractuelle. Son contenu est susceptible d’évoluer en cours d’année : soyez attentifs aux dernières modifications.