Economic Policy: Winter 2012 Syllabus
Syllabus (same as below, downloadable PDF)
2010/2011 archive (398 slides): Lessons 1 to 5 / Lessons 6 to 9
Assignment of group presentations
1.CONCEPTS AND LIMITS OF ECONOMIC POLICY (14/1/2012)
Structure of the course and assignment of group presentations
Lecture [download Lesson 1 slides].
2. MONETARY POLICY (21/1/2012)
Lecture [download Lesson 2 slides].
Article reading:
Richard Clarida, Jordi Galí and Mark Gertler (1999), "The Science of Monetary policy: A New Keynesian Perspective,” Journal of Economic Literature, Vol. 37, pp. 1661-1707.
Policy presentation: “Non-conventional monetary policies in the US and in the Eurozone" [download memo].
3. FISCAL POLICY (28/1/2012)
Lecture [download Lesson 3 slides].
Article reading: Olivier Blanchard and Roberto Perrotti (2002), “An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output,” Quarterly Journal of Economics, Vol. 117, No. 4, pp. 1329-1368.
Policy presentation: “Sovereign default” [download memo].
4.INTERNATIONAL FINANCIAL INTEGRATION AND FOREIGN-EXCHANGE POLICY (4/2/2012)
Lecture [download slides].
Articles reading: Olivier Blanchard, Francesco Giavazzi, and Filipa Sa (2005), "International Investors, the US Current Account, and the Dollar," Brookings Papers on Economic Activity, Vol. 2005, No.1, pp. 1-49.
Policy presentation: "Why doesn’t capital flow to emerging-market economies?" [download memo].
5. GROWTH POLICIES (11/2/2012)
Lecture [download Lesson 5 slides].
Article reading: Philippe Aghion and Peter Howitt (1992), “A Model of Growth Through Creative Destruction”, Econometrica, Vol. 60, No. 2., pp. 323-351.
Policy presentation: “Potential output and the crisis” [download memo]
Watch this fascinating BBC short in 4 minutes on how 200 countries have grown over the last 200 years.
6. TAX POLICIES (18/2/2012)
Lecture [download Lesson 6 slides].
Article reading: Georges Zodrow and Peter Mieszkowski (1986), “Pigou, Tiebout, Property Taxation, and the Underprovision of Local Public Goods,” Journal of Urban Economics, Vol. 19, No. 3, pp. 356-370.
Advised reading: Signe Krogstrup (2004), “A synthesis of recent developments in the theory of capital tax competition”, The Graduate Institute of International Studies, Geneva.
Policy presentation: “Options to finance social protection” [download memo].
7. JOBS POLICIES (10/3/2012)
Lecture [download Lesson 7 slides]
Article reading: Olivier Blanchard and Francesco Giavazzi (2002), “Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets,” Quarterly Journal of Economics, Vol. 118, n°3, pp. 879-907.
Policy presentation: “Labor contract and employment protection in France” [download memo].
8. FINANCIAL STABILITY (17/3/2012)
Lecture [download Lesson 8 slides]
Article reading: Bengt Holmstrom and Jean Tirole (1998), “Private and Public Supply of Liquidity,” Journal of Political Economy, Vol. 196, No. 1, pp. 1-40.
Policy presentation: "Dealing with systemically-important financial institutions" [download memo].
9. ENVIRONMENT POLICIES (24/3/2012)
Lecture [download Lesson 9 slides]
Article reading: Brian Copeland and Scott Taylor (2003), “Trade, Growth and the Environment,” Journal of Economic Literature, Vol. 42, No. 1, pp. 7-71.
Policy presentation: “Limiting carbon dioxyde emissions: markets versus taxes” [download memo].
