Macroeconomic Analysis


The aim of this course is to motivate the students with the use of simple analytical tools to interpret and discuss current macroeconomic challenges, in a worldwide perspective.

General characterization





Responsible teacher

António Miguel Amoedo Lebre de Freitas


Weekly - Available soon

Total - Available soon

Teaching language




The course will draw on different books and papers, depending on the topic. A references that contain most of the material is:

  • [SUW] Schmitt-Grohé, Uribe, M., Woodford, M, 2015. International Macroeconomics.

  • For specific topics we will also use:

  • [SL] Sachs, J., Larrain, F., Macroeconomics in the global economy. Prentice Hall, 1993.
  • [W] Williamson, S., Macroeconomics. Pearson, 5th edition.
  • [PM] Montiel, P. 2003. Macroeconomics in Emerging Markets. Cambridge.
  • [CV] Végh, 2015. Open Economy Macroeconomics in Developing Countries, MIT Press.
  • Some articles for discussion will be selected from the IMF publication Finance and Development, available in, from (, the Project Syndicate, Paul Krugman and others.

    Teaching method

    The teaching includes reviews of models already introduced in undergraduate macro, as well as the introduction of other (simple) tools. The course consists in formal lectures, where the theoretical material is presented, take-home exercises, and a written assignment focusing on the topics addressed  in the course.

    Evaluation method

    One take-home problem-set to be delivered by the end of week 2 (10%); a mid-term assessment (30%); final exam (30%); discussion of a case study in class and delivery of a written report no later than Dec 2 (30%).

    Subject matter

    ?    Schools of thought.
    ?    Savings, Investment and the Current Account in the well-functioning economy.
    ?    Money, banking, and financial Market Frictions.
    ?    Sticky prices.
    ?    Fiscal aspects of exchange rate regimes.
    ?    Capital Flows and the real exchange rate.
    ?    Sovereign debt crisis.


    Programs where the course is taught: