Olivier Loisel’s website Macroeconomics 1

Research papers
Supplementary material
Policy papers

On financial economics
On macroeconomics
On monetary economics

Curriculum vitae
Contact information

20-hour master-level course taught in English at ENSAE Paris

This course introduces the fundamental concepts of macroeconomic models with microeconomic foundations. It addresses two main themes, the theories of growth and the effects of fiscal policy, through continuous-time models with a representative agent or overlapping generations. It pays a particular attention to normative questions concerning the Pareto efficiency of the market equilibrium and the role of economic policies.

General introduction

Part I: Exogenous growth theories
Chapter 1: The growth model with an exogenous saving rate (Solow-Swan)
Chapter 2: The growth model with an endogenous saving rate (Cass-Koopmans-Ramsey)
Chapter 3: The DICE model (Nordhaus)

Part II: Endogenous growth theories
Chapter 4: The growth model with learning by doing (Romer, 1986)
Chapter 5: The growth model with a variety of goods (Romer, 1990)

Part III: Effects of fiscal policy
Chapter 6: Fiscal policy in the representative-agent model (Cass-Koopmans-Ramsey)
Chapter 7: Fiscal policy in the overlapping-generations model (Weil)

General conclusion

Main references
Barro, R.J., and Sala-i-Martin, X., 2004, “Economic Growth,” second edition, MIT Press
Heijdra, B.J., and Van der Ploeg, F., 2002, “Foundations of Modern Macroeconomics,” Oxford University Press
Romer, D., 2011, “Advanced Macroeconomics,” fourth edition, McGraw-Hill

Complete references

Last exams
2023 exam
2022 exam
2021 exam