The objective of this course is threefold. First, to offer a unifying modern approach to macroeconomics. Second, to cover in depth some key macroeconomic issues (such as business cycles). And third, to acquaint the students with the some of the modeling techniques used in macroeconomic research. The course will be based on the textbook “Macroeconomics”, by Robert J. Barro, 1997, 5th edition, MIT Press (German version: Robert J. Barro und Vittorio Grilli (1996), Makroökonomie – Europäische Perspektive, Oldenbourg). This is an excellent book and we will follow it very closely. We will cover all the chapters except for those pertaining to the international economy. The emphasis will be on mastering economic intuition, with the technical aspects being discussed mostly in the exercise sessions.

Syllabus