Course description

Title of the Teaching Unit

Macro Economics

Code of the Teaching Unit

12UEC52

Academic year

2026 - 2027

Cycle

Number of credits

Number of hours

Quarter

Weighting

Site

Anjou

Teaching language

English

Teacher in charge

ROMAN Philippe

Objectives and contribution to the program

Why Macroeconomics?
• The main objective of the course is to extend and deepen knowledge and understanding of economic theories and facts, in a pluralistic and critical way, and to acquire tools in macroeconomic analysis.
• The course contributes to developing critical thinking abilities and enhancing analytical/conceptual rigour when looking at contemporary socio-economic issues.
• To help you read and understand the economic news
• To help you grasp the likely effects of economic policies and macroeconomic shocks

General objectives of the course – students are expected to…
• Understand and master the main macroeconomic indicators (GDP, investment, consumption etc.) and their uses.

• Be able to describe and analyse short-term and medium-term macroeconomic ups and downs (fluctuations/business cycles and economic shocks).

• Be able to correctly read and interpret macroeconomic graphs, tables and texts.

• Get a good knowledge of the main macro issues in contemporary industrialised countries and the policies that can be implemented to address them.

• Understand and be able to explain the ways monetary and fiscal policies can be run, their respective functions and limitations.

• Describe in a critical and theoretically informed way the likely consequences of macroeconomic shocks and policies on key macroeconomic variables.

The course also contributes to the development of the following skills:

• Exercise a critical mind and be able to reflexively address the complex and systemic economic challenges of our time.

• Imagine and design desirable economic futures.

• Understand the importance of various macroeconomic factors, supported by reliable data, to make informed decisions.

• Express oneself clearly in English using the appropriate vocabulary.

Prerequisites and corequisites

Content

The course content is broadly structured as follows:

Introduction to the field of macroeconomics, including the central topics it explores and the typical questions it seeks to answer.

Overview of the main macroeconomic indicators—such as real and nominal GDP, investment, consumption, and the inflation rate—explaining how they are calculated, their intended purposes, as well as their scope and limitations.

Outlook of the principal dimensions of economic inequality, the methodologies employed to quantify them, and their implications for macroeconomic performance.

Description, modelling and interpretation of macroeconomic fluctuations (business cycles), including recession, depression, stagflation etc.

Introduction to the main macroeconomic labour issues, its key indicators (e.g. unemployment, participation rate), types of unemployment (frictional, structural, cyclical), and theoretical approaches to understanding labour market performance.

Overview of macroeconomic policy instruments—monetary and fiscal—with their rationale, implementation, and modelling of their effects on the economy.

Elaboration of a macroeconomic framework to model the consequences of shocks and macro policies on selected performance criteria of the macroeconomy.

International aspects of macroeconomic performance and policy are addressed in as much depth as time permits.

Teaching methods

Lectures are delivered in class, with the possibility of online sessions if necessary. The course is designed to foster active student participation through interactive tools (e.g. Wooclap quizzes), Q&A, exercises, and moments of critical reflection.

Assessment method

The final grade is based on a 2h exam held at the end of the semester (summative assessment).

Summative assessment (final exam)
The final assessment consists of a written, closed-book 2h exam held on campus. No external materials or calculators are permitted. No digital devices are allowed. The exam includes multiple-choice and open-ended questions, with no ‘negative points’ for incorrect answers in the multiple-choice section.
The August/September session follows the same rules.

Formative assessment (non graded continuous learning and training)
Frequent Wooclap quizzes are used to help students engage with and better understand key concepts, facts, and theories.
The course encourages active participation through in-class discussions and collaborative research and interpretation of online data and information, fostering critical thinking and analytical skills.

References

Course material is provided during the course, and available on Moodle.
A few useful websites:
• Core-Econ (free online textbook)
• Exploring Economics
• cepr.org/voxeu
• ineteconomics.org