Macroeconomics

About

The macroeconomics sequence in the PSE summer school introduces students to the frontier of research on a variety of topics. We cover both short-term macro analysis in closed and open economies and medium-term issues such as bubbles, unemployment, inequalities and fiscal policies.

The PSE summer school macroeconomics program introduces participants to cutting-edge research on the topics listed below, and familiarizes them with the relevant methods needed to analyze them (econometric analysis, dynamic modelling). The objective of the course is to equip the participants with the background and tools that are needed to both contribute to these dynamic fields in terms of research, as well as to perform policy design and evaluation.

Structure :

- Heterogeneous agent models – Florin Bilbiie
- Inequality and macroeconomics – Romain Rancière
- Dynamic fiscal policy – Axelle Ferrière, Francesco Pappada
- Unemployment in macroeconomics – Jean-Olivier Hairault
Bubbles – Gilles Saint-Paul

Course leader

rogramme Supervisor: Gilles Saint-Paul is a professor at the Paris School of Economics (Paris Sciences Lettres) and holds a visiting position at New York University in Abu Dhabi. ,Webpage: https://www.parisschoolofeconomics.eu/en/saint-paul-gilles/

Target group

Prerequisites:
Microeconomics and Macroeconomics at intermediate level is highly recommended.

How will professionals benefit from the programme:
Professionals can get an edge by keeping in touch with research. This involves not only awareness of recent developments, but also being able to critically evaluate this research, whose findings are all too often highlighted in a positive light in popular media, despite methodological shortcomings. Participants in the macro sequence will be exposed to the architecture of modern research and will be able to analyze modelling assumptions and discuss their relevance. This is a critical skill for any decision maker who wants to make the best out of modern research.

How will students benefit from the programme:
Students will learn or consolidate essential skills in light of the most recent literature. The sequence is particularly useful for students enrolled in a Ph.D. program with less than comprehensive coursework requirement. MA students will get a fresh exposure to macroeconomics as it is produced by leaders in the field and taught at an advanced level.

Course aim

The aim of the programme is to provide the essential tool box of macroeconomics. Emphasis is put on introducing tools and developing deep understanding. All courses review core, standard models that are useful for understanding crises and recessions, and the role of policy therein. We then introduce recent research at the frontier.

Fee info