- Deepening of (open economy) macroeconomic models for the short- and medium-run
- Deepening the understanding of macroeconomic stabilisation policy in open economies
- Relating macroeconomic theories to stylised facts and empirics

This course elaborates the macroeconomic topics and theories that have been discussed in the first year. The central question always concerns the coordination between the goods market, the labour market and financial markets in a closed economy framework. Coordination failures play a central role in explaining macroeconomic fluctuations, providing roles for fiscal and monetary policy. The courses starts with a new Keynesian view of macroeconomics, developing theories and models for the short- and medium-run. In the second half we also address criticism to the new Keynesian view and introduce some alternatives. Using recent OECD Economic Outlooks, macroeconomic theory is applied to a wide variety of recent macroeconomic problems and policy dilemmas.

Intermediate Macroeconomics, t.b.a.

Knowledge and understanding of first year microeconomics and macroeconomics, like
* Perloff, J.M. (2018), Microeconomics, 8th global edition, Pearson Education
* Blanchard O. (2020), Macroeconomics, Global Edition, 8th edition, Pearson Education

An advanced level of English