TrainingsMasterEconomicsCoursesMacroeconomics II

Master EconomicsUE Macroeconomics II

Content

Learn the basic models with microeconomic foundations used in modern macroeconomics. Be able to do dynamic analysis. Understand the concept of dynamic efficiency and the role of public expenditures.

Course outline :

1. Introduction with reminders on the Solow model

2. The Ramsey model

2.1. The framework

2.2. Existence and features of the steady state

2.3. Dynamic analysis

2.4. Extension : public spending

3. The overlapping generations model

3.1. The model with capital

3.2. Intertemporal equilibrium, steady states and dynamics

3.3. Optimality

3.4. Extensions : public spending ; rational bubbles

Professional skills

  • Dynamic optimisation
  • Dynamic analysis
  • Analysis of optimality
  • Existence of equilibrium
  • Understand the crowding-out effect

Languages used

Main languages used by this course:

  • Français
  • Anglais

Bibliography

  • Azariadis, C. (1993), Intertemporal Macroeconomics. Blackwell, Cambridge, UK. Part1 & 2
  • De la Croix, D. and P. Michel (2002), A Theory of Economic Growth, Dynamics and Policy in Overlapping Generations. Cambridge University Press. Part 1 & 2
  • Hairault, J.-O. (2000), Analyse Macroéconomique. La Découverte. Chap 16, 18& 19
  • Romer, D. (2012), Advanced Macroeconomics. Mc Graw Hill, 4th edition, Chap 1 & 2.

Structure and organisation

6 teaching weeks, 2x2h courses per week.

Volume of teachings

  • Lectures: 24 hours