Macroeconomics (MSB111)

Content

Facts about economic aggregates and macroeconomic models. Particular attention is given to:

• Economic growth and business cycles
• Monetary policy
• The current account of the balance of payments
• Employment and unemployment
• Exchange rates
• Economic effects of government budgets
• Financial crises

Throughout the course, continuous reference will be made to historical and current macroeconomic phenomena, from both a global perspective and with a special focus on Norway.

Learning outcome

Upon completion of the course, the student should be able to:

Knowledge:

Upon completion of the course, the student will have knowledge of

• basic macroeconomic models of economic growth, business cycle fluctuations, employment and

unemployment, inflation, budget deficits, national debt, and international macroeconomics involving exchange rate policy.

Skills:

Upon completion of the course, the student will be able to

• describe the above-mentioned models and derive their implications;

• apply basic macroeconomic models to phenomena such as economic growth, current accounts, employment,

exchange rates, business cycle fluctuations, monetary policy, and budget deficits;

• analyze international aspects of macroeconomic policy and understand the role of international economic

institutions;

• use various simplified models to analyse different problems;

• evaluate the feasibility of the assumptions behind different models, as well as their limitations, and create new

ones;

• analyze whether the implications of a model are more or less factually accurate;

• assess the feasibility of macroeconomic arguments in the public debate;

• create and communicate new potential solutions to contemporary macroeconomic challenges.

Required prerequisite knowledge

Exam

Coursework requirements

Course teacher(s)

Course coordinator:

Study Program Director:

Method of work

In this course, students will learn through a combination of traditional lectures, exercises, seminars, student

presentations, and individual study.

Assessment: The course is examined on the basis of a written examination, written assignments, and student presentations.

Open for

Course assessment

Literature