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2019/2020  BA-BBLCO1243U  Macroeconomics

English Title

Course information

Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Bachelor
Duration One Semester
Start time of the course Spring
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for BSc and MSc in Business, Language and Culture, BSc
Course coordinator
  • Dario Pozzoli - Department of Economics (ECON)
Main academic disciplines
  • Economics
Teaching methods
  • Blended learning
Last updated on 24-03-2020

Relevant links

Learning objectives
  • Explain basic macroeconomic terminology (e.g. “GDP”, "growth", "recession", "natural unemployment", "trade balance deficit", “exchange rates” etc.) in a comprehensive way.
  • Describe and calculate how output, unemployment, interest rates and real wages are determined in the short and medium run
  • Describe and calculate the equilibrium in the goods, financial and labor markets both in the short and medium run.
  • Describe the role of interest rates, how it is created and controlled.
  • Describe and explain the effects of fiscal and monetary policy within the main macroeconomic models (e.g. the IS/LM model, etc.).
  • Illustrate diagrammatically these models, perform policy experiments (like increasing government spending or changing the interest rates) and interpret verbally what happens when moving from one equilibrium to another.
Exam ECTS 7,5
Examination form Home assignment - written product
Individual or group exam Individual exam
Size of written product Please see text below
Students have 4 hours to write.
Assignment type Written assignment
Duration Written product to be submitted on specified date and time.
Grading scale 7-point grading scale
Examiner(s) Internal examiner and external examiner
Exam period Summer
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content, structure and pedagogical approach

Macroeconomics introduces students to economic issues and mainstream theories related to the entire national economy as well as the world economy. The course introduces the system of national income accounts and national statistics and its use in terms of measuring the overall material standard of living, price levels, inflation, exchange rates, trade balance etc. Students will learn how to look at how these entities are determined in the short and medium run, and then look at the notion of interest rates and how they are controlled by the Central Bank.

Students will be asked to consider the situation where prices and wages are stable, how the result may cause overheating or recessions, and how fiscal policy (government expenditure and taxes) and monetary policy (Central Bank regulation of the interest rates) can be used to alleviate this situation. Another subject is the causes of unemployment and the phenomenon itself and how it relates to the movement of prices and wages. The focus will then shift to open economies where goods, people, and capital are traded with other countries, and how the nature of macroeconomic policy changes in an open economy.

Description of the teaching methods
Lectures and tutorial exercises. Lectures focus on presenting theory and insights. Tutorials focus on applying these to concrete exercises.
Feedback during the teaching period
Student feedback will occur regularly throughout the course, e.g. via exercise classes (TA sessions), office hours and in-class problem solving (one drive assignments and quiz sessions). Students are encouraged to make use of those to enhance their learning experience, of course in addition to regular participation and two-way communication in lectures. The lecturer will also strive to be readily available for a one-to-one dialogue in both lecture breaks and following each lecture session.
Student workload
Lectures 24 hours
TA sessions 12 hours
Preparation before lectures 80 hours
Exam preparation 90 hours
Total 206 hours
Expected literature

Blanchard, Giavazzi & Amighini  (2017) Macroeconomics: A European Perspective, Third Edition.

Last updated on 24-03-2020