Welcome to Modern Macroeconomics!

Data: Gapminder | Design: empet

This is the website of an intermediate macroeconomics course taught in several Programs at ISCTE-IUL. We believe that basic computational skills should be now at the core of any economist toolbox. Therefore, we introduced a little flavor of computation by extensively using Pluto notebooks and the Julia programming language. Currently, it is offered to students taking a major in Economics, Management, and Finance and Accounting.


The course is structured in twelve weeks of classes covering the following topics:

Week Topic
1 Introduction to Julia & Pluto
2 Introduction to Macroeconomics
3 Measuring Macroeconomic Data
4 The IS Curve
5 Monetary Policy and Aggregate Demand
6 The Central Bank Balance Sheet & Monetary Policy Tools
7 Aggregate Supply and the Phillips Curve
8 The Aggregate Demand & Supply Model
9 Macroeconomic Policy: Aggregate Demand & Supply Analysis
10 The Zero Lower Bound & Macroeconomic Policy
11 Fiscal Policy & the Government Budget
12 Rounding up topics & controversies


  • Frederic Mishkin (2014). Macroeconomics: Policy and Practice, 2nd Edition, Pearson, Addison-Wesley.
  • Stephen G. Cecchetti and Kermit L. Schoenholtz (2017). Money, Banking, and Financial Markets, 5th Edition, McGraw-Hill.


Option A

  • Attendance of at least 75% of the classes
  • Midterm test (covering the topics from week 1 to week 6): 50%
  • Endterm test (covering all the topics, but with more emphasis on the materials of weeks 7 to 12): 50%
  • The grade in any of these tests cannot be lower than 8 out of 20 points

Option B

  • One Final Exam covering all the topics: 100%

Re-sitting Exam

There will be a Re-sitting Exam accounting for 100% of the grade and covering all the topics for those who fail the course.