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2014/2015  KAN-COECO1070U  Macroeconomics - The Global Economy

English Title
Macroeconomics - The Global Economy

Course information

Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Semester
Course period Spring
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 50
Study board
Study Board for MSc in Advanced Economics and Finance
Course coordinator
  • Mauricio Prado - Department of Economics (ECON)
Main academic disciplines
  • Economics, macro economics and managerial economics
Last updated on 17-02-2015
Learning objectives
Students are required to:
  • explain and analyze the determinants of consumption, savings, and investment
  • explain the different models of economic growth
  • explain the determinants of business cycle fluctuations
  • use the models presented in the course to explain the effects of monetary and fiscal policies and shocks on the economy
Course prerequisites
This is a mandatory course for the elite MSc in Advanced Economics and Finance. It is assumed that students have knowledge similar to the entry requirements for the MSc in Advanced Economics and Finance. For spring courses knowledge similar to the content of the 1st-semester courses is assumed as well. The courses have 45 confrontation hours (lectures and exercises), and there is a high level of interaction between lecturer and students, and in general a high work load.

To sign up send a 1-page motivational letter, a 1-page CV, and a grade transcript to oecon.eco@cbs.dk no later than XXXXXXXX. Please also remember to sign up through the online registration.
Prerequisites for registering for the exam
Number of mandatory activities: 3
Compulsory assignments (assessed approved/not approved)
In order to qualify for the final exam, students must hand in and get approved 3 (out of 4) problem sets.
Macroeconomics - The Global Economy:
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 May/June
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.
Description of the exam procedure

No calculators allowed.

Course content and structure

The aim of the course is to explore the fundamentals of macroeconomics and study the determinants of consumption, savings, and investment. The course studies business cycles and economic growth, and finally analyzes the impact of shocks and economic policies (e.g. monetary and fiscal) on the economy.


  • Consumption
  • Investment
  • Neoclassical Growth Model: the Ramsey model
  • Overlapping Generations model: the Diamond model
  • Dynamic Stochastic General Equilibrium models: RBC and Calibration
  • Endogenous growth
  • Monetary Policy
Teaching methods
Lectures and exercise classes. These class activities will involve derivation and analysis of models and problem-solving exercises.
Expected literature
  • David Romer (2012) Advanced Macroeconomics, McGraw-Hill Irwin. Chapters 1, 2, 5, 6, 7, 8, 9, 11. ISBN 978-0-073-51137-5
  • Maurice Obstfeld and Kenneth Rogoff (1996) Foundations of International Macroeconomics, MIT Press. Chapters 1, 2, 3, 7, 8, 9, 10. ISBN 978-0-262-15047-7
  • Further recommended readings and journal articles will be posted on Learn.
Last updated on 17-02-2015