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| Language |
English |
| Course ECTS |
7.5 ECTS |
| Type |
Elective |
| Level |
Bachelor |
| Duration |
Summer |
| Start time of the course |
Summer |
| Timetable |
Course schedule will be posted at
calendar.cbs.dk |
| Max. participants |
120 |
| Study board |
Study Board for BSc in Economics and Business
Administration
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| Course
coordinator |
- Sven Bislev - Department of Management, Society and
Communication (MSC)
|
| For academic
questions related to the course, please contact instructor Miguel
Suarez, Ph.D., Vienna University of Economics and Business,
msv.acc@cbs.dk |
| Main academic
disciplines |
|
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| Teaching
methods |
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|
Last updated on
27/04/2021
|
| Learning objectives |
To achieve the grade 12, students should meet the
following learning objectives with no or only minor mistakes or
errors:
- Fully explain the basic concepts, models, theories and tools
used in this macroeconomics course and use them to analyze economic
decisions by individuals and by firms.
- Explain how and what we measure economics aggregates. Explain
why economics focuses on economic growth and develop models that
help us to understand what factors aid in economics growth. Explain
why we care about growth and how knowledge of personal finance and
stock markets can lead to growth in aggregate and individual
wealth.
- Predict the typical general effects of the business cycle on
inflation and unemployment. Display clear knowledge of the correct
countercyclical monetary and fiscal policies in an economic
contraction and an economic expansion.
- Articulate and explain the origins, workings, and potential
problems in monetary systems.
- Analyze economic outcomes in terms of their effects on
aggregate income and income distribution.
|
| Course prerequisites |
| None |
| Examination |
|
Principles of
Macroeconomics:
|
| Exam
ECTS |
7.5 |
| Examination form |
Home assignment - written product |
| Individual or group exam |
Individual exam |
| Size of written product |
Please see text below |
|
4 hour home assignment. No requirement for
maximum number of pages. |
| Assignment type |
Written assignment |
| Duration |
Written product to be submitted on specified date
and time. |
| Grading scale |
7-point grading scale |
| Examiner(s) |
One internal examiner |
| Exam period |
Summer, Ordinary exam: 4-hour home assignment in
the period of 26–30 July 2021
Retake exam: 4-hour home assignment in the period of 20 – 24
September 2021
3rd attempt (2nd retake) exam: 72-hour home assignment – 22 – 25
November 2021 – for all ISUP courses simultaneously
Exam schedules available on
https://www.cbs.dk/uddannelse/international-summer-university-programme-isup/courses-and-exams |
| Make-up exam/re-exam |
Same examination form as the ordinary exam
Retake exam: 4-hour home assignment,
new exam question
Exam form for 3rd attempt (2nd retake): 72-hour home assignment,
max. 10 pages.
|
|
| Course content, structure and pedagogical
approach |
|
Course content:
This course will provide an overview of macroeconomic issues:
the determination of output, employment, unemployment, interest
rates, and inflation. Monetary and fiscal policies are discussed,
as are public debt and international economic issues. It introduces
basic models of macroeconomics and illustrates principles with the
experience of the United States and other economies.
Course structure:
Preliminary assignment: Please read the first two chapters
in the textbook and prepare to discuss them in class
Class 1: - A Tour of the World (Chapter 1) - Basic
Definitions (Chapter 2)
Class 2: - The Goods Market (Chapter 3) - Financial Markets I
(Chapter 4)
Class 3: - Goods and Financial Markets: The IS-LM Model (Chapter 5)
- Financial Markets II (Chapter 6)
Class 4: - Openness in Goods and Financial Markets (Chapter 17) -
The Goods Market in the Open Economy (Chapter 18)
Class 5: - Output, the Interest Rate and the Exchange Rate (Chapter
19) - Exchange Rate Regimes (Chapter 20)
Class 6: Exercises
Feedback activity: The optional mid-term assignment will be a
take-home examination covering course materials up to that point
and will be similar to the final examination. It will be posted on
Canvas at the end of the second week- after Class 4, and discussed
in Class 6. This midterm is best viewed as learning opportunity for
students. I encourage you, and you have my explicit permission, to
work with a classmate or small team. Ideally, you will learn from
one another.
Class 7: - The Labor Market (Chapter 7) - The Phillips Curve, the
Natural Rate of Unemployment and Inflation (Chapter 8)
Class 8: - The Facts of Growth (Chapter 10) - Saving, Capital
Accumulation and Output (Chapter 11)
Class 9: - Technological Progress and Growth (Chapter 12) -
Technological Progress and Unemployment (Chapter 13)
Class 10: - Financial Markets and Expectations (Chapters 14 and
15)
Class 11: - Review
|
| Description of the teaching methods |
| This year all courses are taught digitally over
the Internet. Instructors will apply direct/live teaching through a
link (like Skype, Team, Zoom). In some courses, pre-recorded
material will also be used. |
| Feedback during the teaching period |
| Feedback activity: The optional mid-term
assignment will be a take-home examination covering course
materials up to that point and will be similar to the final
examination. It will be posted on Canvas at the end of the second
week- after Class 4, and discussed in Class 6. This midterm is best
viewed as learning opportunity for students. I encourage you, and
you have my explicit permission, to work with a classmate or small
team. Ideally, you will learn from one another. |
| Student workload |
| Preliminary assignment |
20 hours |
| Classroom attendance |
33 hours |
| Preparation |
126 hours |
| Feedback activity |
7 hours |
| Examination |
20 hours |
|
| Further Information |
|
Preliminary Assignment: To help students get
maximum value from ISUP courses, instructors provide a reading or a
small number of readings or video clips to be read or viewed before
the start of classes with a related task scheduled for class 1 in
order to 'jump-start' the learning process.
Course timetable is available on
https://www.cbs.dk/uddannelse/international-summer-university-programme-isup/courses-and-exams
We reserve the right to cancel the course if we do not get
enough applications. This will be communicated on
https://www.cbs.dk/uddannelse/international-summer-university-programme-isup/courses-and-exams
in March 2021.
|
| Expected literature |
|
Mandatory readings:
Macroeconomics, Global Edition, 7th Edition Olivier Blanchard
©2018, Pearson
ISBN-13: 9781292160504
|
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