This course focuses on a core competency “Analyzing the economic situation of a country and the international situation”. It attempts to approach concrete economic situations and offer diagnoses using the identified tools of macroeconomics. Therefore, it aims to demonstrate, in practical situations, how economic policies can influence the macroeconomic framework. In this sense, the tools of macroeconomic analysis are tested against the real world experiences and challenges of stabilization policies and regulatory measures, thus allowing students to measure both their effectiveness and limitations. Three types of policies are analyzed: fiscal, monetary and exchange rate policies. Given that globalization signals the erosion of the monetary and fiscal autonomy of States, these policies are addressed in relation to coordination problems between countries. Supervised work sessions complement course elements with an analysis of concrete situations rich in teaching. Fiscal policies and the twin deficits problem are examined by using the US as a case study. Since their appearance in the early 1980s with Reagan’s presidency, twin deficits have been the major economic problem of the United States. This issue is traced up until the eve of the 2007-2008 crisis and analyzed as a major cause of global demand imbalances. Then, the problems of coordination of budgetary policies are reworked from the case of the European Union. The analysis focuses on the interconnections between various policies within the Union and their impact on growth and the European sovereign debt crisis. Finally, monetary policies, both conventional and unconventional, are discussed from the Japanese case and the most recent policies of the Fed. The course concludes with an analysis of the mixed US policy and its effects on global economic prospects.

Temps présentiel : 35 heures

Charge de travail étudiant : 20 heures

Méthode(s) d'évaluation : Examen final