On this page you will find all the necessary information regarding my teaching activities such as course outlines, dates, literature, lecture notes etc.
University of Economics, Vienna . Autumn/winter term 2022-23
Special Topics in Economic Policy
The macroeconomics of the Euro Area. Past experiences, current trends
Thursdays, 14:30 -16:30 Room TC.3.09
The course will provide an overview of macroeconomic developments in the EU since the inception of the euro, the (changing) settings of macroeconomic policy designs and governance mechanisms, and its analytical underpinnings. Topics and issues covered will include:
General issues (October 20, 27; November 3,10,17)
The Maastricht-Treaty and the early years of EMU
The “orthodox” economic policy paradigm at the turn of the century
Analytics: the new Keynesian DSGE model and the "divine coincidence"
Bubbles, intra-area capital flows, economic convergence, and divergence
The financial crisis 2008 and its fall-out
Intellectual and institutional governance failure and repair
The main economic challenges at the current juncture
EU enlargement and catching-up December 1
Income inequality in the EU December 1
Greece and the Troika December 15
Brexit December 15
The productivity paradox December 22
The EU in the global economy December 22
The secular stagnation hypothesis January, 12
Fiscal and monetary governance reconsidered January 12
The macro-policy response to the Covid-pandemic January 19
The return of inflation January 19
The general issues will be covered by the instructor in a lecture format with Q&A; homework questions will be posed at the end of each lecture. Special topics will be dealt with in presentations (30 minutes max) and discussion by students’ teams; two topics per session.
Students will learn about the main macroeconomic developments in the EU over the past 25 years, and gain knowledge and a broad analytic understanding of the evolving patterns of macroeconomic policy settings, governance mechanism and institutional design at the Community level. Students will practise literature search, exercise teamwork, and improve presentation techniques and discussion proficiency.
Students must not miss more than two sessions, attendance at the introductory session (October 13) is mandatory for students’ teams work assignment.
Students´ special topic paper (40%)
Students´ presentation (35%)
Active participation in class (25%)
Special topic papers due no later than February 17, 2023.
Students are invited to search/consult the relevant pages on the websites of the European Commission, the European Central Bank and the European Stability Mechanism. Further reading suggestions will be provided in class.
Course material is provided at www.wu.learn.at or upon request.