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2020/2021  MA-MMBAO1090U  Macroeconomics and Financial Markets

English Title
Macroeconomics and Financial Markets

Course information
Language English
Course ECTS 3 ECTS
Type Mandatory
Level Part Time Master
Duration One Semester
Start time of the course Spring
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for Master of Business Administration
Course coordinator
  • Jesper Rangvid - Department of Finance (FI)
Main academic disciplines
  • Finance
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 24-06-2020

Relevant links
Learning objectives
Participants completing this course are expected to be able to understand and explain a number of economic phenomena, such as:
  • Explain fundamental economic behavior in the goods, financial and labour markets.
  • Discuss macroeconomic (fiscal policy, monetary policy, financial stability policy) responses to macroeconomic fluctuations and how such responses affect firms and households.
  • The relationship between firms’ strategic decisions, such as investment and financing decisions, and financial markets and institutions.
Examination
Macroeconomics and Financial Markets:
Exam ECTS 3
Examination form Home assignment - written product
Individual or group exam Individual exam
Size of written product Max. 15 pages
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 second internal examiner
Exam period Winter and Summer
Make-up exam/re-exam
Same examination form as the ordinary exam
A written case assignment based on a case or a subject chosen by the
teacher. The assignment must be formulated and given to the students at least nine days prior to the expiration of the deadline. It should be 10 pages long and submitted to CBS Digital Exam. The exam is held internally, and the assignment is put forward and assessed by the relevant faculty.

The make-up/re-examination will be held as an oral examination 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.
Course content, structure and pedagogical approach

This course offers a broad introduction to some key issues in current economic and financial debates, namely (a) macroeconomic policy in an era of low interest rates, high debt ratios and low productivity growth, (b) monetary policy and why interest rates are low, and (c) fundamental changes in financing opportunities for firms.

Most modern economies suffer from high debt ratios (public and private) and productivity slowdown. In addition, bank lending to private firms has fallen significantly, in particular since the financial crisis. Against that, the aim of this course is to enable the participants to better understand, first, the background to these problems; second, how they may be mitigated through economic policy; third, why interest rates are as low as they are; fourth, why banks behave as they do towards private firms.

Throughout the course, modern analytical tools will be used to address these issues. Intuition and real-world applications are prioritized over formal models and technical details. The reading material is based on textbook chapters, articles from international journals and reports from respected policy institutions and think tanks. All sessions will comprise elements of both lectures and discussion, in plenum as well as in groups. 

The aim of the lectures is to provide the participants with an overview of the subjects, by highlighting key issues. In order to benefit fully from this course, preparation is vital. Since it is impossible to cover all topics in the lectures, a good amount of follow-up homework is also expected. Finally, to add further perspectives, participants are recommended to read supplementary material from newspapers, magazines etc.   
Description of the teaching methods
The course is structure in 8 sessions and diverse teaching methods using lectures, cases, readings, and discussions. The class meetings are interactive and require ongoing engagement of the students.
The module includes a module abroad to a relevant financial hub combining lectures by CBS faculty with visits to financial and other companies.
Feedback during the teaching period
The feedback
Feedback is given to the student together with the grade when written and oral exams have been evaluated.

The evaluation
At the evaluation unit at CBS’s Economic & Analysis department we ask you to evaluate the overall course. In other words if there has been exercise classes and lectures the evaluation should include both. We evaluate every course and faculty to secure and strengthen the professional level of the offered course.
Student workload
Lecture 32 hours
Preparation + Exam 50,5 hours
Module abroad 40 hours
Expected literature

Syllabus will be available, well in time, before the first session
Last updated on 24-06-2020