| Learning objectives |
To achieve the grade 12, students should meet the
following learning objectives with no or only minor mistakes or
errors: Course aim: The purpose of the course is to give students
an understanding of (i) movements in the economy over the business
cycle, (ii) macroeconomic stabilisation policy (monetary and
fiscal) in closed and open economies, and (iii) basic aspects of
financial markets and expectations.
- Explain basic macroeconomic terminology (e.g.
"growth", "recession", "natural
unemployment", "trade balance deficit" etc.) in a
comprehensive way
- Describe how real GDP is determined in the short and medium
run.
- Describe the main determinants of other important macroeconomic
variables such as inflation, unemployment, real wage, interest
rate, exchange rate etc.
- Perform simple algebraic calculations related to developments
in the main macroeconomic variables
- Describe and explain the assumptions and relations of the main
macroeconomic models (e.g. IS/LM).
- Illustrate diagrammatically these models, perform policy
experiments (like increasing government spending 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 (national
income, interest rate, consumption, investment
etc.)
|
| Course prerequisites |
| English language skills equal to B2 level (CEFR)
and math skill equal to Danish level B are recommended. |
| Examination |
|
Macroeconomics:
|
| Exam
ECTS |
7,5 |
| Examination form |
Written sit-in exam on CBS'
computers |
| Individual or group exam |
Individual exam |
| Assignment type |
Written assignment |
| Duration |
2 hours |
| Grading scale |
7-step scale |
| Examiner(s) |
Internal examiner and external examiner |
| Exam period |
Spring |
| Aids |
Limited aids, see the list below:
The student is allowed to bring - Non-programmable, financial calculators: HP10bll+ or Texas BA
II Plus
- Language dictionaries in paper format
At all written
sit-in exams the student has access to the basic IT application
package (Microsoft Office (minus Excel), digital pen and paper,
7-zip file manager, Adobe Acrobat, Texlive, VLC player, Windows
Media Player). PLEASE NOTE: Students are not allowed to communicate
with others during the exam :
Read more about exam aids and IT application
packages here |
| 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 |
|
This course offers a general introduction to macroeconomics. We
ask questions such as, ‘What determines production, unemployment
and inflation in the short and medium run?’ To answer this, we
develop an analytical framework based on equilibrium conditions in
three markets: the goods market, the financial market and the
labour market. This framework is also used to analyze questions
like, ‘What is the scope for a government to stabilise the economy
using fiscal and monetary policy?’ Moreover, issues related to the
open economy are addressed, such as capital mobility, exchange
rates, balance of payments etc.
The following issues are addressed in the course:
• Demand for goods
• Demand for money
• Labour market
• Inflation and unemployment
• Fiscal and monetary policy
• The open economy
• Financial markets and expectations
|
| Teaching methods |
| Lectures & workshops |
| Feedback during the teaching period |
| Office hours. More information will be available
by the start of the semester. |
| Student workload |
| Classes |
30 hours |
| Workshop/ Excercises |
15 hours |
| Preparation for class(including exam) |
183 hours |
| Exam |
2 hours |
|
| Expected literature |
-
Macroeconomics. A European Perspective”,
Blanchard, Amighini and Giavazzi (Third Edition)
Please note, minor changes may occur. The teacher will
upload the final reading list to LEARN two weeks before the course
starts.
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