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European Macroeconomics - Learning and Teaching Package

Peter Bofinger
Exploring Economics, 2021
Level: advanced
Perspectives: Austrian Economics, Neoclassical Economics, Post-Keynesian Economics
Topic: (De-)growth, Crises, Labour & Care, Macroeconomics, Microeconomics & Markets, Money & Debt, Reflection of Economics
Format: Teaching Package


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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. 


Supported by:




 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 - Inflation

 YouTube video of unit 6

 Slides of unit 6



Unit 7 - Monetary policy of the ECB - in theoretical perspective

 YouTube video of unit 7

 Slides of unit 7



Unit 8 - Monetary policy of the ECB - in institutional perspective i.

 YouTube video of unit 8

 Slides of unit 8



Unit 9 - Monetary policy of the ECB - in institutional perspective ii.

 YouTube video of unit 9

 Slides of unit 9



Unit 10 - Fiscal policy in the Euro area: coordinating policies of 19 countries

 YouTube video of unit 10

 Slides of unit 10



Unit 11 - The euro crisis - learnings from the different economic models

 YouTube video of unit 11

 Slides of unit 11

Go to: European Macroeconomics - Learning and Teaching Package

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Este proyecto es presentado por la Network for Pluralist Economics (Netzwerk Plurale Ökonomik e.V.) y socios internacionales.  Está comprometida con la diversidad y la independencia y depende de las donaciones de personas como tú. Donaciones regulares o puntuales serán muy apreciadas!