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KEBU 2035A - Understanding the world economy

Type d'enseignement : Lecture alone

Semester : Spring 2017-2018

Number of hours : 24

Language of tuition : English

Pre-requisite

The focus of the course will be on policy oriented questions and not as theoretical and model oriented as a standard macroeconomics course in a research oriented master. However, students are expected to handle very basic algebra.

Course Description

Macroeconomic events are a fundamental source of changes in the business environment, markets, and society. The purpose of this course is to give you a better understanding of the macro-economy, to familiarise you with the workings of the global economy and the main factors that determine the incomes of nations and their fluctuations. We will consider a range of questions such as: why are some countries growing faster than others; how does technology and institutions affect the economy; why do business cycles occur; what are the determinants of exchange rates and inflation; what is driving unemployment; what are the principles and motivation underlying monetary and fiscal policy. Sessions 1 to 5 cover the long-run while 6 to 12 cover the short/medium-run. Throughout, theoretical concepts are backed and illustrated by real-world examples from a corporate and policy perspective. Please find additional information regarding course details on the link: http://econ.sciences-po.fr/staff/nicolas-coeurdacier

Teachers

COEURDACIER, Nicolas (Associate Professor in Economics, Department of Economics, Sciences Po)

Pedagogical format

Classroom participation is essential. You are encouraged to contribute with insights from your own experiences. Classroom participation will enhance your ability to think critically and to organize your thoughts in a clear and insightful manner.

Course validation

Continuous assessment grade based on a group homework (40%) and a final examination (Multiple choice questions, exercises and short essays) (60%).

Workload

Lecture (24h) Credits: 4 Homework: by groups of 4. In an essay format, groups are expected to address a policy question which deals with a current issue in macroeconomics using policy and academic articles (some suggestions will be provided in class but students can come up with their own question).

Required reading

  • Macroeconomics, S. Williamson, 4th edition
  • Macroeconnomics, Charles. I. Jones, 2nd edition