European Macroeconomics

Information on the course

This is a new online course at bachelor level. It presents an introduction into macroeconomics with a specific focus on the euro area. The theoretical part provides a critical presentation of the two key macroeconomic models: the (neo)classical approach and the Keynesian approach. This allows a comparative analysis of important macroeconomic topics:

• unemployment
• inflation
• government debt and Modern Monetary Theory
• banks and financial crises. 

The policy-oriented part discusses the monetary policy of the ECB and the specific challenges for fiscal policy in the euro area. The course also presents other euro area specific topics: Optimum currency area, euro crises, Next Generation EU and Green New Deal. 

Lecture Plan

• Lecture 1 -  Introduction to the course
  • Targets of Macroeconomic Policy and the Performance of the Euro Area
  • The debate on the economic loss function
• Lecture 2 -  The mechanics of the two core macroeconomic models
  • The (neo-)classical model
  • The Keynesian model
• Lecture 3 - The financial system and banks in the two models
• Lecture 4 - Unemployment and stabilization policies
  • unemployment
  • stabilization policies
• Lecture 5 - Fiscal policy
• Lecture 6 - Inflation
• Lecture 7 - Monetary policy of the ECB - in theoretical perspective
• Lecture 8 - Monetary policy of the ECB - in institutional perspective i.
• Lecture 9 - Monetary policy of the ECB - in institutional perspective ii.
• Lecture 10 - Fiscal policy in the Euro area: coordinating policies of 19 countries
• Lecture 11 - The euro crisis - learnings from the different economic model

Supported by:
  

This course is part of the Plural Certificate Project and is offered regularily by the German Network for Pluralist Economics as a course with ECTS.