The seminar is for thesis-writing PhD students focusing on macroeconomic issues. It is the second course of a two-course sequence. The course reviews review recent developments in macroeconomics, with emphasis on open economy questions, in order to provide support for the students’ research. The first part of the course consists of lectures. The second part consists of presentations and discussions of papers from the reading list (with the option to propose a paper not on the list that you find worth presenting). Each presentation lasts 30 minutes and goes over the main points of the paper. The discussion lasts 10 minutes with a critical review of the paper, pointing alternative arguments and avenues for further research. Each student will make one presentation and one discussion (depending on the number of class attendees, the number of presentations can be adjusted). Preferences should be indicated by the end of the third week, and I will then put together the schedule ensuring an even coverage of topics. In addition, each student will write a short review at the end of the course on a topic of her/his choice. The review should be a concise (5-6 pages) discussion of the recent advances in a topic, identifying what has been learnt and what are the remaining challenges. You will need a working knowledge of macroeconomic at the level of Obstfeld and Rogoff’s Foundations in International Economics.