Macroeconomics Pathway

Choose to follow the Macroeconomics Pathway, to deepen your knowledge of Macroeconomics with courses in Monetary Economics (morning session) and International Finance (afternoon session).

Or mix and match, choosing different morning or afternoon sessions from our other pathways: Applied or Econometrics.

Monetary Economics

This course provides a comprehensive overview of the key concepts related to monetary policy and central banking and their significance in understanding the economy, including the Monetary Transmission Mechanism, the New Keynesian Model, Financial Frictions, Central Bank Design, and Central Bank Communication.

Topics covered:

The Monetary Transmission Mechanism
The New Keynesian Model
Financial Frictions
Central Bank Design
Central Bank Communication

International Finance

This course provides a comprehensive analysis of the challenges faced by policymakers in dealing with international financial shocks, and the evidence on the dilemma vs. trilemma debate. It covers a range of topics including a model for international financial shock transmission, the Euro Area's current account imbalances and debt crisis, and the impact of capital flows on inequality.

Topics Covered:

Evidence on the Dilemma vs. Trilemma debate
A model for the international transmission of financial shocks
How should policy deal with international financial shocks?
Business cycles in advanced and emerging market economies
Models of sovereign default (including coding a quantitative model)
Heterogeneous households, sudden stops in capital flows and exchange rates (including solving a model with heterogeneous agents)
Capital flows and income inequality

Macroeconomics Pathway