TEACHERS
- Courses in French: Thomas SEEGMULLER - thomas.seegmuller@univ-amu.fr
- Courses in English: Arnaud DESEAU - arnaud.deseau@univ-amu.fr
CONTENT
Learn the basic models with microeconomic foundations used in modern macroeconomics. Be able to do dynamic analysis. Understand the concept of dynamic efficiency and the role of public expenditures.
Course outline:
1. Introduction with reminders on the Solow model
2. The Ramsey model
2.1. The framework
2.2. Existence and features of the steady state
2.3. Dynamic analysis
2.4. Extension: public spending
3. The overlapping generations model
3.1. The model with capital
3.2. Intertemporal equilibrium, steady states, and dynamics
3.3. Optimality
3.4. Extensions: public spending; rational bubbles
PROFESSIONAL SKILLS
• Dynamic optimization
• Dynamic analysis
• Analysis of optimality
• Existence of equilibrium
• Understand the crowding-out effect
BIBLIOGRAPHY AND TEXTBOOKS
• Azariadis, C. (1993), Intertemporal Macroeconomics. Blackwell, Cambridge, UK. Part 1 & 2.
• De la Croix, D. and P. Michel (2002), A Theory of Economic Growth, Dynamics and Policy in Overlapping Generations. Cambridge University Press. Part 1 & 2.
• Hairault, J.-O. (2000), Analyse Macroéconomique. La Découverte. Chap 16, 18&19.
• Romer, D. (2012), Advanced Macroeconomics. Mc Graw Hill, 4th edition, Chap 1 & 2.
ORGANIZATION
6 teaching weeks, 2x2h courses per week.
- Courses in French: Thomas SEEGMULLER - thomas.seegmuller@univ-amu.fr
- Courses in English: Arnaud DESEAU - arnaud.deseau@univ-amu.fr
CONTENT
Learn the basic models with microeconomic foundations used in modern macroeconomics. Be able to do dynamic analysis. Understand the concept of dynamic efficiency and the role of public expenditures.
Course outline:
1. Introduction with reminders on the Solow model
2. The Ramsey model
2.1. The framework
2.2. Existence and features of the steady state
2.3. Dynamic analysis
2.4. Extension: public spending
3. The overlapping generations model
3.1. The model with capital
3.2. Intertemporal equilibrium, steady states, and dynamics
3.3. Optimality
3.4. Extensions: public spending; rational bubbles
PROFESSIONAL SKILLS
• Dynamic optimization
• Dynamic analysis
• Analysis of optimality
• Existence of equilibrium
• Understand the crowding-out effect
BIBLIOGRAPHY AND TEXTBOOKS
• Azariadis, C. (1993), Intertemporal Macroeconomics. Blackwell, Cambridge, UK. Part 1 & 2.
• De la Croix, D. and P. Michel (2002), A Theory of Economic Growth, Dynamics and Policy in Overlapping Generations. Cambridge University Press. Part 1 & 2.
• Hairault, J.-O. (2000), Analyse Macroéconomique. La Découverte. Chap 16, 18&19.
• Romer, D. (2012), Advanced Macroeconomics. Mc Graw Hill, 4th edition, Chap 1 & 2.
ORGANIZATION
6 teaching weeks, 2x2h courses per week.
- Enseignant: Arnaud DESEAU