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Macroeconomics IV

Macroeconomics IV

En pratique :

Volume horaire de cours : 24
Volume horaire global de TD : 12
Langue principale : Anglais

Description du contenu de l'enseignement

While unemployment seems to be a purely cyclical phenomenon in the US, several European countries exhibit some hysteresis effect that is unemployment has become a long-lasting phenomenon and exhibits a steady growth since 70’s. This course explores theoretical explanations of the unemployment issue through the Keynesian and classics opposition. The potential trade-off between inflation and unemployment (the Philips curve) is widely discussed referring to the most recent development in macroeconomics. Different macroeconomic policies supposed to reduce the unemployment rate are analyzed using the AS/AD model with flexible prices. The discretion vs rules debate is investigated in the last chapter of the course.

  • Olivier Blanchard, Macroeconomics, Pearson, International Edition, Fifth Edition