The aim of this course is to help the students bridge the gap between the theoretical macroeconomics literature and real-world data and policies. After completion of this course, the students:

• Will be familiar with the key issues in the modern macroeconomics literature
• Will have developed an understanding of the controversies surrounding policy choices and of how policies and institutions interact at the macroeconomic level
• Will be able to recognize the main global economic problems
• Will be able to understand the key economic-policy issues in the European Union
• Will be able to interpret and evaluate the results of the corresponding empirical literature

Dynamics in aggregate demand & supply, employment and unemployment. Inflation & rational expectations. Time inconsistency in public decision-making. Growth policies. Globalization, currency markets, financial crises. The public sector in the global economy. Macroeconomic policy-games. International macroeconomic interdependence & policy coordination. European economic-policy issues. Applications with real-world data.

Lectures (3 hours per week)

(a) Written exam at the end of the semester (65%)

(b) Project (applications with real-world data) 35%

Use of IT in teaching, and in communication with the students (e-class)