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2017/2018  KAN-COECO1070U  Macroeconomics - The Global Economy

English Title
Macroeconomics - The Global Economy

Course information

Language English
Course ECTS 7.5 ECTS
Type Mandatory offered as elective
Level Full Degree Master
Duration One Semester
Start time of the course 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
  • David Jinkins - Department of Economics (ECON)
Main academic disciplines
  • Economics
Last updated on 28-09-2017

Relevant links

Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors: 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 12 December 2017. 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.
The problem sets are done in groups of 3 students.

If a student - due to documented illness or failed attempts - does not pass 3 out of 4 exercise preparations, the student will be given a final chance to retake this part of the course by handing in a new exercise preparation prior to the final exam.
Macroeconomics - The Global Economy:
Exam ECTS 7,5
Examination form Written sit-in exam on CBS' computers
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 Summer
Aids Closed book: no aids
However, 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), and the student is allowed to bring simple writing and drawing utensils (non-digital). PLEASE NOTE: Students are not allowed to communicate with others during the exam.
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




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.
Feedback during the teaching period
We try to offer feedback in response to your questions and work whenever feasible although please appreciate that there are often time constraints. Please feel free to take full advantage of the ‘office hours’ offered by full-time staff members, although these can never be a substitute for participation in lectures and classes. We also encourage you to ask questions or make comments in class and form self-study groups to secure peer feedback on your work. There will be several home assignments in the course. Feedback will be given in class after home assignments have been graded.
Student workload
Teaching 45 hours
Preparation 142 hours
Exam/Home Assignments 19 hours
Expected literature
  • David Romer (2012) Advanced Macroeconomics, McGraw-Hill Irwin. Chapters 1, 2, 3, 5, 6, 7, 8, 9, 11. ISBN 978-0-073-51137-5
  • Further recommended readings and journal articles will be posted on Learn.
Last updated on 28-09-2017