Introductionstudents

Introductionstudents - going on) and a clear normative side...

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Macroeconomics, an Advanced Introduction Facts, Theories and Tools Xavier Ragot Banque de France and PSE september, 2010 ragot@pse.ens.fr Introduction
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The course is taught with Gilles Saint Paul. ragot@pse.ens.fr Introduction
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What is Macroeconomics About ? 1 Macroeconomics is now much simpler to teach : Nice Macroeconomic shock : 2 3 Financial crash (Subprime Crisis), Increase in Unemployment; 4 Active Monetary and Fiscal Policy : Old Keynesian Style ? 5 Increasing Unemployment 6 To understand these phenomena we have to consider the interaction of various mechanisms. ragot@pse.ens.fr Introduction
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1 Macroeconomics is when all interactions are taken into account ) Partial equilibrium is not enough. 2 To do this, we will consider aggregate variables : 3 Macroeconomics has a positive side (understanding what is
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Unformatted text preview: going on) and a clear normative side : Help economic policy of the State (Fiscal policy), Central Banks (Monetary Policy) or International Institution ragot@pse.ens.fr Introduction Of course, various theories are under debate. Neo-classical, Neo-keynesian. Technical tools are required : Dynamic Optimization. All this will be discussed according to key topics. ragot@pse.ens.fr Introduction Plan of the Course 1 Key Macroeconomic Variables 2 The Keynesian World 3 The Consumption/Saving Decision 4 What does Monetary Policy Do ? ragot@pse.ens.fr Introduction Email : ragot@pse.ens.fr Exercise Class : Eric Monnet eric.monnet@gmail.com Textbooks: Blanchard Olivier., Macroeconomics, MIT Press (Blancahrd, Cohen, MacroØconomie in French). Romer David, Advanced Macroeconomics. (MacroØconomie AvancØe, McGraw Hill ) ragot@pse.ens.fr Introduction...
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Introductionstudents - going on) and a clear normative side...

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