This is the page of L3–Macro course

Toulouse School of Economics


I taught this course with Thomas Chaney, Patrick Fève and George Lukyanov. Thomas taught the first 6 weeks (semester 1). I  then taught 6 weeks during semester 1.  Then George taught the first 3 weeks of semester 2 and Patrick  the last 9 weeks of semester 2.



Tentative schedule (summary with problem sets deadlines) (updated 01/12/2014)

This is a tentative schedule. I’ll do my best to stick to it. It is nevertheless very likely that I will not have time to do the lecture on centrally planned economies.

Lecture 5 : (Very) Long Run Growth
  • session 1: sections 1 to 4 : The Big Picture, The Malthusian Regime, The Industrial Revolution, The Great Divergence (no class notes for Nov 3)
  • session 2: section 5 : Demographics and the simple functioning of the Malthusian regime (class notes, Nov 4)
  • session 3: section 6 : A (quite) simple mathematical model of life expectancy (class notes, Nov 10)
  • sessions 4 & 5: section 7:  A simple model of the (very) long economic history (class notes, Nov 13class notes Nov 17)
Lecture 6 : Sustainability – Easter Island Economics
  • session 6: section 1 : A Short Story of Easter Island (no class notes on Nov 18)
  • sessions 7 & 8: sections 2 & 3 : A Model for the dynamics of Easter Island, Applying the Model to Easter Island (class notes Nov 21class notes Nov 24 (please note that I made a mistake in the graph of the population dynamics. The graph is corrected on the class notes))
Lecture 7 : Hyperinflation
  • session 9: and 10 section 1 : Long Run Facts, Hyperinflation in the Weimar Republic, Hyperinflation in Zimbabwe 2008-2009 (no class notes on Nov 25) (no class notes on Nov 27)
  • session 11: section 2 : Modeling hyperinflation and the role of expectations  (class notes Dec 1)
Lecture 8 : Income and Wealth Inequalities
  • session 12: section 1,2 and 3 : Income distribution in history of economic thought, Kuznets’ facts, Piketty’s facts (no class notes on Dec 2)
  • The rest of that lecture will be taught next semester


Important: Those slides are designed to be used in class, not to be read without attending the class. They might contain typos. Only what I say / write in class is relevant for the exam. 

Problem sets

The rules set by Thomas Chaney apply (check here if you have a doubt)


  • First term session 1: ExamSolution
  • Second term session 2 … not yet!



I taught the the last 6 weeks of first semester and the first 3 weeks of the second semester of the L3 macro course at TSE


not this year


Problem sets


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