European Macroeconomics - Learning and Teaching Package
Exploring Economics, 2021
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Learning and Teaching Package for the Course "European Macroeconomics"
Accompanying textbook: Fundamentals of Economics. Introduction into the Science of Markets (in German)
- A critical introduction for students of economics
- A multiparadigmatic textbook, including neoclassical, Austrian and Keynesian economics
- A focus on the roots of financial crises & the recent effects of digitization on the financial system
! The lecture is a new version of the content of this book, presenting economic theories & empirics through their specific understanding of the economy !
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:
- 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.
Unit 1 - Introduction to the course
a) Targets of Macroeconomic Policy and the Performance of the Euro Area
b) The debate on the economic loss function
Unit 2 - The mechanics of the two core macroeconomic models
a) The (neo-)classical model
b) The Keynesian model
Unit 3 - The financial system and banks in the two models
Unit 4 - Unemployment and stabilization policies
b) stabilization policies
Unit 5 - Fiscal policy
Unit 6 - Inflation
Unit 7 - Monetary policy of the ECB - in theoretical perspective
Unit 8 - Monetary policy of the ECB - in institutional perspective i.
Unit 9 - Monetary policy of the ECB - in institutional perspective ii.
Unit 10 - Fiscal policy in the Euro area: coordinating policies of 19 countries