This course provides a problem-oriented introduction to European economic policy from a macroeconomic perspective by considering the relevance of the current economic crisis in the context of the Coronavirus pandemic. The students will be familiarized with a set of important debates in economic policy. In this context, the course will deal with relevant academic debates (in theory and empirics) and their impact on recent policy discussions. The students will improve their understanding of the goals, instruments and institutions that are relevant for European economic policy.

The focus will be on

· the goals and instruments of monetary and fiscal policy,

· possibilities for stabilization policy,

· public finance and financial markets,

· current European problems in the areas of monetary and fiscal policy.

After completing this course, students will be able to discuss and critically reflect on the role of monetary and fiscal policy in a European context. They will be able to understand and assess different viewpoints on European economic policy. Based on economic theory and empirical evidence, students are able to analyze current problems of European economic policy and to participate in policy debates.

You are allowed to miss a maximum of two classes.

The course leader will provide an introduction to the relevant topics. Based on academic literature, the students will discuss important topics in the area of monetary and fiscal policy. The students are also expected to write a short term paper (max. 10 pages), in which they should use and analyze macroeconomic data.

· Test (60%)

· Term paper (40%)

· Participation

heimberger@wiiw.ac.at