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2013/2014  KAN-CM_N77  Understanding the Macroeconomic Environment

English Title
Understanding the Macroeconomic Environment

Course information

Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Semester
Course period Autumn
Changes in course schedule may occur
Tuesday 09:50-12:25, week 36-41, 43-48
Time Table Please see course schedule at e-Campus
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Mauricio Prado - Department of Economics (ECON)
Administration: Ida Lyngby - il.eco@cbs.dk
Main academic disciplines
  • Economics, macro economics and managerial economics
Last updated on 13-09-2013
Learning objectives
Students are required to:
  • explain the fundamentals of growth and productivity.
  • explain the determinants of production, consumption, savings and investment.
  • explain the effects of policies and shocks on the economy.
Course prerequisites
To be able to follow the course, students are advised that some background knowledge of mathematics and economics is helpful. The key mathematical requirements are knowledge of methods of optimization subject to constraints and basic ideas of probability and statistics. In terms of economics, the course assumes
understanding of intermediate micro- and macroeconomics.
4-hour written exam:
Examination form Written sit-in exam
Individual or group exam Individual
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Winter Term and December/January
Aids allowed to bring to the exam Limited aids, see the list below and the exam plan/guidelines for further information:
  • Books and compendia brought by the examinee
  • Notes brought by the examinee
  • Allowed dictionaries
Make-up exam/re-exam
Same examination form as the ordinary exam
If the number of registered candidates for the make-up examination/re-take examination warrants that it may most appropriately be held as an oral examination, the programme office will inform the students that the make-up examination/re-take examination will be held as an oral examination instead.
Description of the exam procedure

The exam must be hand written (pen and paper)

Course content and structure

 The aim of the course is to provide students with an understanding of the macroeconomic environment of businesses. Such understanding is essential for key employees in both nancial and non- nancial institutions, corporations, and the government. The course focuses on growth and productivity. Growth is a huge problem for the world economy these days, and productivity is a major challenge to the developed and developing economies. The course will also study the determinants of production, consumption, saving and investment.
Their interplay with growth and productivity is at the core of both short term and long term economic policies in the US and in the EU (and there are different views on this on each side of the Atlantic).

Teaching methods
The course is composed of 12 three-hour sessions. These class activities will involve lectures and problem-solving exercises. There will be sessions with practitioners (e.g. chief economist of a major bank, economist from the ministry of Finance or the central bank).
Further Information

The elective is a progressional course for students from the AEF concentration.

Expected literature

Romer, David (2012) Advanced Macroeconomics, McGraw-Hill, 4th edition. Chapters 1, 2, 5, 6, 8, and 9. ISBN 978-0-07-351137-5

Further recommended readings and articles will be posted in Learn


Last updated on 13-09-2013