International Macroeconomics (MSB111)

The course aims to provide deeper insights into macroeconomic theory and its application to current macroeconomic policy problems.

The main topics are economic growth, determination of employment, monetary and fiscal policy in a small open economy, exchange rate determination, the causes and effects of government budget deficits and external imbalances.

Course description for study year 2024-2025. Please note that changes may occur.


Course code




Credits (ECTS)


Semester tution start


Number of semesters


Exam semester


Language of instruction



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:


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.


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



Form of assessment Weight Duration Marks Aid
Written exam 1/1 4 Hours Letter grades Dictionary

Coursework requirements

Written assignments, Group presentation

Course teacher(s)

Course coordinator:

Anders Åkerman

Study Program Director:

Yuko Onozaka

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.

Overlapping courses

Course Reduction (SP)
Macroeconomics (MØA111_1) 10

Open for

Industrial Economics - Master of Science Degree Programme Master of Science in Accounting and Auditing Business Administration - Master of Science
Exchange programmes at UIS Business School

Course assessment

There must be an early dialogue between the course supervisor, the student union representative and the students. The purpose is feedback from the students for changes and adjustments in the course for the current semester.In addition, a digital subject evaluation must be carried out at least every three years. Its purpose is to gather the students experiences with the course.


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