Macroeconomic Policy

lpols1211  2020-2021  Louvain-la-Neuve

Macroeconomic Policy
Due to the COVID-19 crisis, the information below is subject to change, in particular that concerning the teaching mode (presential, distance or in a comodal or hybrid format).
5 credits
30.0 h + 10.0 h
Q2
Language
French
Prerequisites

The prerequisite(s) for this Teaching Unit (Unité d’enseignement – UE) for the programmes/courses that offer this Teaching Unit are specified at the end of this sheet.
Main themes
The study of issues in Macroeconomics will build on basic concepts from economic theory (supply, demand and market equilibrium). It will be important for students to be able to move from these basic concepts to analyse concrete topical issues such as revenue, employment, world trade, the financial markets and the movement of capital, the causes of recessions and elements favouring growth.
Aims

At the end of this learning unit, the student is able to :

1 This course aims to give students the foundations they need to understand the evolution of "macroeconomic" variables such as production, employment, inflation, competition, etc., the objective being to enable them to analyse the evolution observed, the role of institutions and public authorities and the advantages and the disadvantages of a range of economic policies.
 
Content
The course will presents key macroeconomic variables before to deal with goods, financial and labour markets. Monetary and Fiscal policies will then be analysed through models (IS-LM for the short term and IS/LM/PC for the medium term). The link between unemployment and inflation will be discussed before that which prevails between financial markets and economic policies through expectations. Then, features of opened economies, domestic economy competitiveness, exchange rate policy and macroeconomic interdependence will be treated.
Teaching methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

The course adopts an inductive approach. Economic events or facts, as reported in newspapers, will be shortly discussed in order to introduce the chapters dealing with the related theoretical models.
Evaluation methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.



ONGOING EVALUATION : A compulsory written (on paper) mid-term test, composed of a series of "TRUE" or "FALSE" items to be justified by a three or four line paragraph, will partially count (a quarter of the total) towards the final mark (20pts).
COVID-19 warning: In case of Covid alert and depending on its level, the written test could be hold online through a proper computer software provided to teachers by university authorities. More details should be announced in due time if necessary.
FIRST EXAMINATION SESSION: A written (on paper) exam of 3 hours will be composed of a series of "TRUE" or "FALSE" items to be justified by a three or four line paragraph, a piece of newspapers economic text to be explained by the mean of an appropriate analytical tool, and an exercise which will be similar to those solved during exercise sessions. It will partially count (three quarters of the total) towards the final mark (20 pts)
COVID-19 warning: In case of Covid alert and depending on its level, the written exam could be hold online through a proper computer software provided to teachers by university authorities. More details should be announced in due time if necessary.
SECOND EXAMINATION SESSION: The same features than the first examination session but the exam will count for the whole mark of 20 except the case when a successful student would like to keep his test mark.
Bibliography


Olivier Blanchard et Daniel Cohen, "Macroéconomie", 7e édition, 2017, Ed. Pearson.
Teaching materials
  • Manuel : "Macroéconomie", 7e édition, d'Olivier Blanchard et Daniel Cohen. 2017 (Ed. Pearson)
  • Les diapositives du cours ex cathedra sur moodle
  • Portefeuille d'articles de presse sur moodle.
Faculty or entity


Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Sigle
Credits
Prerequisites
Aims
Bachelor in Sociology and Anthropology

Minor in Population and Development Studies

Bachelor in Political Sciences: General

Bachelor in Human and Social Sciences