Developed countries are immersed in the worst crisis since World War II. How are governments responding? Could they do more? These are the questions that will be tackled in this course. The course begins with a review of some basic macroeconomic concepts to lay the groundwork for the policy framework. It then analyzes how fiscal policy works and what the effects of todayÂ´s outsized deficits and debts could be on national economies. It then moves to monetary policy and explores its drawbacks and the recourse to other approaches, such as quantitative easing. Finally, the course looks at the other policies open to governments to address a crisis, and the debate over how they have been used today.