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OAEA 2085 - International Macroeconomics

Type d'enseignement : Lecture alone

Semester : Autumn 2017-2018

Number of hours : 24

Language of tuition : English

Pre-requisite

Undergraduate courses in macroeconomics.

Course Description

The course tackles the main issues in international finance: financial globalization, exchange rates and capital flows, economic policies in open economies and international financial crises. The focus of the course will be on policy oriented questions. In particular, we will enlighten macroeconomic events such as global imbalances, the recent financial crisis, the euro debt crisis, the fiscal adjustment of most developed countries with some macroeconomic theory as well as empirical evidence. The objective of the course is to present to students empirical and theoretical analysis that will help them analyze current issues related to macroeconomic policies in open economies, financial globalization and financial crises. The focus of the course will be on policy oriented questions. Although the course will not be as theoretical and model oriented as a standard international macroeconomics course in a master program in economics, the students are expected to have a basic understanding of the standard tools in macroeconomics. Students with no background in economics are strongly recommended to master an introductory textbook in macroeconomics.

Please find here the Website of the course:

http://econ.sciences-po.fr/philippe-martin/international-macroeconomics-psia

Teachers

MARTIN, Philippe (Professor)

Pedagogical format

Twelve weekly lectures of 2 hours.

Course validation

Grades are based on a group homework (40%) and a final examination (60%). Homework: by groups of 3 or 4. To be handed back in class the week of lecture 8. Find a policy question (some examples provided in class) which deals with an issue in international macroeconomics and finance. Using policy and academic articles, provide a critical answer to the question. Your are expected to define precisely the question and provide an answer weighting the pros and cons in a (maximum) 5-page document (max. 3,000 words). Providing data to justify your conclusions would be appreciated.

Workload

Readings for each classes ; one group homework (essay) ; preparation for the final exam.

Required reading

Textbook: Krugman, Paul R. and Maurice Obstfeld (K&O), International Economics: Theory and Policy, Addison-Wesley ed., 8th edition