European Macroeconomics - Learning and Teaching Package

European Macroeconomics - Learning and Teaching Package
Peter Bofinger
Exploring Economics, 2021
Level: advanced
Perspectives: Austrian Economics, Neoclassical Economics, Post-Keynesian Economics
Topic: Crisis, green new deal, growth, introductory courses, labour, macroeconomics, mainstream critique, markets, money & debt, philosophy of science, teaching material
Format: Lecture


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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)

Go to book


  • 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:

  • 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. 

Organisational matters

This course will be made available on the Network for Pluralism in Economics YouTube channel on a regular basis.

You Tube channel

The course is based on an online course offered at the University of Würzburg. The tutorial will not be made available on YouTube.

  • Lecture: every Tuesday, 2-4 pm (s.t.) (CET)
  • Tutorials: every Monday, 4-6 pm (c.t.) (CET)

Course duration: 20th of April - 13th of July, 2021

Register for the Course

Communication: we offer a Telegram chat for the people taking the course to exchange thoughts and ideas. We will provide some rules for communication in the group. Please only join, if you are taking the course (here).

Exams: we will offer an exam end of July / August. The exam will either be based on multiple choice questions or in an essay format. The certificate of performance worth 3 ECTS is granted by the Network for Pluralism in Econmics and runs under the category of 'accrediation' in the higher education regulation. More info on accreditation here.


 Course structure


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

 YouTube video of unit 1

 Slides of unit 1



Unit 2 -  The mechanics of the two core macroeconomic models

a) The (neo-)classical model

b) The Keynesian model

 YouTube video of unit 2

 Slides of unit 2



Unit 3 - The financial system and banks in the two models

 YouTube video of unit 3

 Slides of unit 3



Unit 4 - Unemployment and stabilization policies

a) unemployment

b) stabilization policies

 YouTube video of unit 4

 Slides of unit 4



Unit 5 - Fiscal policy

 YouTube video of unit 5

 Slides of unit 5



Unit 6 - Monetary policy of the ECB i.

 YouTube video of unit 6

 Slides of unit 6



Unit 7 - Monetary policy of the ECB ii . climate & the zero-lower bound

 YouTube video of unit 7

 Slides of unit 7



Unit 8 - Coordinating fiscal policies in 19 countries of the EMU

 YouTube video of unit 8

 Slides of unit 8



Unit 9 - Specific European Monetary Union topics: optimal currency area

 YouTube video of unit 9

 Slides of unit 9



Unit 10 - Specific European Monetary Union topics: Next Generation EU & Green Deal

 YouTube video of unit 10

 Slides of unit 10


This project is brought to you by the Network for Pluralist Economics (Netzwerk Plurale Ökonomik e.V.).  It is committed to diversity and independence and is dependent on donations from people like you. Regular or one-off donations would be greatly appreciated.