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2014/2015  BA-BPOLO1290U  Macroeconomics

English Title

Course information

Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Bachelor
Duration One Semester
Course period Spring
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for BSc/MSc i International Business and Politics, BSc
Course coordinator
  • Annaïg Morin - Department of Economics (ECON)
Main academic disciplines
  • Economics, macro economics and managerial economics
Last updated on 02-07-2014
Learning objectives
  • Explain basic macroeconomic terminology (e.g. "growth", "recession", "natural unemployment", "hyper inflation", "trade balance deficit" etc.) in a comprehensive way.
  • Describe how real GDP is determined in the short run, the medium run and the long run.
  • Describe the main determinants of other important macroeconomic variables such as inflation, unemployment, real wage, interest rate, exchange rate etc.
  • Perform simple algebraically calculations related to developments in the main macroeconomic variables.
  • Describe and explain the assumptions and relations of the main macroeconomic models (e.g. the classical model for the economy in the long run, the IS/LM model, the Solow growth model, the AD/AS model, etc.).
  • Illustrate diagrammatically these models, perform policy experiments (like increasing Government Purchases or changing the Money Supply) and interpret verbally what happens when moving from one equilibrium to another.
  • Solve algebraically simple macroeconomic models in order to determine the value of the variables in equilibrium and changes in the variables (national income, interest rate, consumption, investment, etc.).
Exam ECTS 7,5
Examination form Written sit-in exam
Individual or group exam Individual
No aids allowed other than basic language dictionaries (e.g. from mother tongue to English and vice versa and English/English) and non-programmable calculators.
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Spring Term
Aids allowed to bring to the exam Closed Book: no aids
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.
Course content and structure
The course is an introduction to Macroeconomics, the branch of economics that studies the behaviour of the economy as a whole. Key concepts are total production and income, (un)employment, inflation, the rate of interest, the trade balance, exchange rates, and the like. The aim is to be able to explain the determinants of economic developments, both in the long run and in the short run, and to explore the scope that may exist for Government and central bank policy to keep the economy on a stable course
Teaching methods
Lectures and Exercises.
Expected literature
N. Gregory Mankiw & Mark Taylor. Macroeconomics. European Edition. Worth Publishers ISBN: 978-0-7167-7369-6 (Chapters 1-14 and 19: 462 pages)
Last updated on 02-07-2014