In this course, students are encouraged to immerse themselves in the role of policymakers, tasked with evaluating and addressing the macroeconomic challenges that countries face in our interconnected, globalized world. The course places a strong emphasis on monetary and financial issues. The conceptual framework for analysis is based on "The Money View" by Perry Mehrling, which provides a foundational understanding of the intricacies of the monetary and financial system, including technical aspects such as payment systems, often referred to as the "plumbing" of the financial world.
The lecture explores the connections between financial variables and real economic variables through in-depth case studies of significant events such as the Global Financial Crisis and the COVID-19 pandemic. These case studies facilitate the evaluation of various policy responses, including fiscal, monetary, and both macroprudential and microprudential measures.
Additionally, the course delves into current debates and topics of interest, such as the dynamics and challenges of the Euro, the concept of safe assets, and the role of shadow banking. This comprehensive approach aims to equip students with the analytical tools and technical knowledge necessary to understand and influence the complex landscape of global macroeconomic policy
