English   Danish

2015/2016  KAN-CCMVI2028U  Macroeconomics and Global Issues

English Title
Macroeconomics and Global Issues

Course information
Language English
Course ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration Summer
Start time of the course Summer
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 80
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Course instructor: Dr. Juliana Kozak Rogo
    Sven Bislev - MSC
Main academic disciplines
  • Globalization and international business
  • Economics
Last updated on 10/08/2017
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors:
  • Follow discussions about global issues in the intelligent business news, and to apply critical reasoning to such discussions.
  • Describe the elements of long-term and short-run performance of a country and their impact on product and financial markets.
  • Understand the business cycle behavior in economic activity and how it transmits to the labor, financial and product market.
  • Understand the role of monetary and fiscal policy in small and large economies.
  • Relate economy-wide matters to business plans and decisions and engage in debate about these matters
Course prerequisites
No Prerequisites.
Prerequisites for registering for the exam
Number of mandatory activities: 1
Compulsory assignments (assessed approved/not approved)
The examination is mandatory. A feedback activitity defined by the course instructor will take place app. half-way through the course.
A preliminary assignment, to be completed before arrival, is offered to fulfil the 7.5 ECTS.
Examination
Macroeconomics and global issues:
Exam ECTS 7.5
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 Summer, Ordinary exam: 1-5 August 2016
Retake exam: Within two months from the ordinary exam.
Aids allowed to bring to the exam Open book: all written and electronic aids, including internet access
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.
4 hour written sit-in exam with a new exam question
Course content and structure

The performance of a firm is related to the macroeconomic environment in which it operates. In this course we will use economic theory to understand how institutions and markets relate to the performance of a country. We will develop a set of tools that can be used to discuss, evaluate and predict the performance of different economies in terms of the macroeconomic background and recent experiences.

 

The course focuses on important aspects of macroeconomics to understand how the economy responds to different fiscal and monetary policies and how such policies transmit to the product and financial markets.

In this course students will be introduced to:

 

  • key components of output (GDP),
  • the determination of unemployment (and employment),
  • interest rates,
  • inflation,
  • growth and development

 

Students will discuss economic crisis faced by countries in the past and more recently the 2001 and 2008 recessions in light of the macroeconomic theories covered in the class.

 

There will be both a Preliminary Assignment and a Feedback Activity. The Preliminary Assignment in Class 1 will involve students in reading several articles on current global issues and answering several discussion questions. The Feedback Activity in Class 6 will consist of ...

Class

Topic

Class 1

Preliminary Assignment

Class 2

The Measurement and Structure of the National Economy

Class 3

Inflation and Unemployment

Class 4

Monetary Policy

Class 5

Business Cycle. IS-LM, AD-AS Model

Class 6

Feedback Activity

Class 7

Crisis, Debt, Default

Class 8

The European Crisis and the Euro

Class 9

Solow Model of Economic Growth

Class 10

Global Growth Prospects

Class 11

Comprehensive Review
Teaching methods
The course will rely on multiple teaching approaches including lectures, case discussions, practice problems, data analysis, exercises and readings. All sessions are interactive.
Further Information

Preliminary Assignment: To help students get maximum value from ISUP courses, instructors provide a reading or a small number of readings or video clips to be read or viewed before the start of classes with a related task scheduled for class 1 in order to 'jump-start' the learning process.

 

The timetable is available on http://
Expected literature

Macroeconomics and the Financial System," by Mankiw and Ball, Worth Publishers, ISBN 978-1-4292-5367-3. Free and Open Resources. Available at: http://bcs.worthpublishers.com/mankiw7/#t_517719.

 

Abel, A., Bernake, B. and Croushore D. Macroeconomics, 8/E. ISBN: 0132992280.

Various other resources will also be utilized, including newspaper clippings and research articles which focus on various issues related to Macroeconomics and current affairs. Examples of these resources are given below.

 

The New IS-LM Model: Language, Logic, and Limits, Economic Quarterly, Federal Reserve Bank of Richmond, Summer 2000 Read Sections 1 and 2, pp 45-54.

 

The perils of falling inflation, The Economist, November 2013

 

In the danger zone, The Economist, January 2014.11.04

 

"Eurozone convergence, divergence, and then what?" by Francis Warnock Harvard Business School #UV5691 on Study.Net

 

World Economic Outlook, Chapter 1, April 2014 International Monetary Fund.

 

Europe in turmoil: five years of economic crisis. The Guardian. Retrieved from: http://www.theguardian.com/business/2014/oct/17/europe-in-turmoil-five-years-of-economic-crisis.

 

How Did Economists Get It So Wrong? Paul Krugman. The New York Times. Sep. 2009. Retrieved from: http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html?pagewanted=all&_r=0.
Last updated on 10/08/2017