European Macroeconomics - Learning and Teaching Package

Peter Bofinger
Exploring Economics, 2021
Level: advanced
Perspectives: Austrian Economics, Neoclassical Economics, Post-Keynesian Economics
Topic: Crisis, growth, introductory courses, labour, macroeconomics, mainstream critique, markets, money & debt, philosophy of science, Teaching
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. 


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

Nous soutenir

Ce projet est le fruit du travail des membres du réseau international pour le pluralisme en économie, dans la sphère germanophone (Netzwerk Plurale Ökonomik e.V.) et dans la sphère francophone (Rethinking Economics Switzerland / Rethinking Economics Belgium / PEPS-Économie France). Nous sommes fortement attachés à notre indépendance et à notre diversité et vos dons permettent de le rester !