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2016/2017  BA-BPOLO1290U  Macroeconomics

English Title
Macroeconomics

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Bachelor
Duration One Quarter
Start time of the course Third Quarter
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
Last updated on 21-09-2016
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors:
  • Explain basic macroeconomic terminology (e.g. "growth", "recession", "natural unemployment", "trade balance deficit", etc.) in a comprehensive way.
  • Describe and explain the assumptions and mechanisms of the main macroeconomic models (e.g. the Keynesian model, the IS/LM model, the AD/AS model, the Solow growth model, etc.). Illustrate these models graphically and solve them algebraically.
  • Describe how GDP is determined in the short run, the medium run and the long run. Explain how GDP is affected by shocks.
  • Describe the main determinants of other important macroeconomic variables such as inflation, unemployment, real wage, interest rate, exchange rate, etc. Explain how these macroeconomic variables are affected by shocks.
  • Perform policy experiments (e.g., changes in government spending or changes in money supply). Interpret the mechanisms verbally and graphically, and solve algebraically.
Examination
Macroeconomics:
Exam ECTS 7,5
Examination form Written sit-in exam
Individual or group exam Individual exam
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Spring
Aids allowed to bring to the exam Limited aids, see the list below:
  • Approved calculators: HP 10bII+ and Texas BA II Plus
  • Dictionaries (only some, see specification below)
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 aids allowed other than basic language dictionaries (e.g. from mother tongue to English and vice versa and English/English.Financial dictionaries are not allowed) and approved calculators:
Hewlett-Packard: HP10BII+,
Texas Instruments: Texas BAII Plus
Course content and structure

The aim of this course is to provide students with an introduction to macroeconomis. The course focuses on the behavior of the economy in the short-run, middle-run, and long-run, specifically looking at the goods market, the financial market and the labor market. The course is designed to help students understand how these markets operate, how they interact with each other, and how they are impacted by shocks and macroeconomic policies. The key mechanisms will first be explained in a context of closed economy and the analysis will then be extended to include trade and financial openness.
Teaching methods
The course will mainly consist of general lectures which will present and explain
macroeconomic concepts and models. Each mechanism presented in class will be embodied in a simple analytical framework to facilitate understanding the underlying logic. Moreover, graphs will be used extensively to build intuition.

In addition to general lectures, tutorial sessions will be devoted to solving exercises.
Student workload
Preparation time (readings, group work etc.) 100 hours
Lectures / class exercises / “homework cafés” / workshops etc. 54 hours
Exam (incl. preparation for the exam and actual exam period) 54 hours
Expected literature

Blanchard, O. and Johnson, D., Macroeconomics (6th Edition), 2013, Pearson Prentice Hall.
Last updated on 21-09-2016