TrainingsDE 2ème/3ème cycleDESU Magistère Ingénieur EconomisteCoursesInternational macroeconomics

DESU Magistère Ingénieur EconomisteUE International macroeconomics


The objective of this course is to present the issues related to the integration of economies. Starting with fiscal externalities, it addresses the issue of coordination of tax and public spending policies, then looks at public debt issues and sovereign debt crisis. It presents the current account as an optimal allocation of resources between countries, which allows to analyze the rise of global imbalances.

Course overview

Ch. I : Fiscal policy in open economy

Ch. II : Sovereign debt crisis

Ch. III : Intertemporal approach of the current account (capital flows, global imbalances, original sin, value effects)

Professional skills

Understand mechanisms of public debt dynamics, the interdependency between integrated economies and capital flows.

Language used

Main language used by this course: Anglais et Français.


  • B.J. Heijdra and F. Van der Ploeg, Foundations of Modern Macroeconomics, Oxford, 2002
  • M. Obstfeld et K. Rogoff, Foundations of International macroeconomics, MIT Press, 2000.

Recommended prerequisites

Undergraduate macro.

Structure and organisation

2-hour written exam.