- Enseignant éditeur: Ninou Caroline
Chemin ROF:
/École d'économie de la Sorbonne/Master 2 Recherche Financial economics/semestre 3/UE1 Fundamental/International Macroeconomics
Chemin ROFid:
/02/UP1-PROG-02-MRB50A-125/UP1-PROG-ELP-B5RAS325/UP1-C-ELP-B5ERA125/UP1-C-ELP-B5RC1715
Code Apogée: B5RC1715
Composante: École d'économie de la Sorbonne
Semestre: 3
Niveau: M2
Niveau LMDA: Masters
Niveau année: 5
Composition: Cours magistral
Diplôme: Master 2 Recherche Financial economics
Domaine ROF: [Sciences économiques]
Type ROF: [M2]
Nature ROF: [5]
Cycle ROF: [2]
Rythme ROF: [Initiale]
Langue: Français
Mention: Monnaie, banque, finance, assurance
Spécialité: Financial economics
Approbateur proposé Id: 369834
Approbateur effectif Id: 369834
Date validation: Monday, 14 September 2026, 3:44 PM
Url fixe: 02-M2-international-macroeconomics
Nombre d'ECTS: 6
Volume horaire CM: 36
Volume horaire TD: 0
Code APOGEE: B5RC1715
Intitulé matière: International Macroeconomics
Objectifs pédagogiques:
By the end of the course, you should be able to :
•understand how monetary policy is transmitted to the real economy;
•analyse the interaction between inflation, output and interest rates;
•understand the role of expectations in modern monetary models;
•derive and interpret the main equations of a New Keynesian DSGE model;
•discuss how monetary policy should be conducted in closed and open economies.
Plan du cours:
Chapter 1 : A Classical Monetary Model (RBC)
Chapter 2 : The basic New Keynesian Model
Chapter 3 : Monetary policy design in the basic New Keynesian Model
Chapter 4 : Monetary policy in the open economy
Modalités d'évaluation:
Written test with exercises and course questions
Bibliographie:
•Woodford, 2003. Interest and Prices- Foundations of a Theory of Monetary Policy, Princeton University Press.
• Galí, 2015. Monetary policy, inflation and the business cycle: an introduction to the New Keynesian framework, Princeton University Press. Second Edition.
•Walsh, 2017. Monetary theory and policy, MIT Press. Fourth Edition
•Gertler, Gali, and Clarida, 1999. The science of monetary policy: a New Keynesian perspective, Journal of Economic Literature.
•Smets and Wouters, 2003. An estimated Dynamic Stochastic General Equilibrium model for the Euro area, Journal of the European Economic Association.
•Christiano, Eichenbaum, and Evans, 2005. Nominal rigidities and the dynamic effects of a shock to monetary policy, Journal of Political Economy.
•Smets and Wouters, 2007. Shocks and frictions in US business cycles: a Bayesian DSGE approach, American Economic Review.
Contacts: Caroline Ninou : Caroline.Ninou@univ-paris1.fr
