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2021/2022  BA-BEBUO1022U  Macroeconomics and European Economic Integration

English Title
Macroeconomics and European Economic Integration

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory (also offered as elective)
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 in European Business
Course coordinator
  • Annaïg Morin - Department of Economics (ECON)
Main academic disciplines
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 14-12-2021

Relevant links
Learning objectives
After ending the course, the students should be able to:
  • Present the IS-LM and IS-LM-PC theoretical frameworks and explain how output and the interest rate are determined in the short and medium-run.
  • Describe the conduct of fiscal and monetary policies in closed economy and explain how these policies are impacted by openness to trade and financial flows.
  • Explain the Phillips curve and discuss the relation between unemployment and inflation.
  • Understand the concept of common currency area and describe its benefits and costs, both theoretically and in the case of the Eurozone.
  • Understand the current macroeconomic policy debates in the European Union.
Course prerequisites
No prerequisites in economics are required.

The technical level required by the course is modest but basic math will be used in this class. More precisely, we will make extensive use of elementary algebra (elementary algebra builds on and extends arithmetic by introducing letters called variables to represent general -non-specified- numbers).
Examination
Macroeconomics and European Economic Integration:
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-point grading scale
Examiner(s) Internal examiner and external examiner
Exam period Summer
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
The student will have access to
  • basic IT application package
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, structure and pedagogical approach

This course offers an introduction to macroeconomic analysis. This includes the theory of output and interest rate determination; the relationship between goods and financial markets; the relationship between employment and inflation; the role of fiscal and monetary policy; and, not least, international economic relations. The course has a distinctively European focus, as it relates macroeconomic analysis to issues relevant to the European economy, such as (i) the costs and benefits of the European Monetary Union, (ii) the key monetary policy arrangements and inflation targeting in the Eurozone , (iii) the conduct of fiscal policy and the debates over government debts in the EU

Description of the teaching methods
The course mainly consists of general lectures that will present and explain macroeconomic concepts and models. Each mechanism presented in class will be embodied in a simple analytical framework to facilitate the understanding of the underlying logic. Moreover, graphs will be used extensively to build intuition.

Case studies, individual problem solving, and polling sessions will take place during the general lectures. We will also bring real-life problems to the classroom by discussing and analyzing newspaper articles presenting macroeconomic issues.

In addition to general lectures, tutorial sessions will be devoted to solving exercises.
Feedback during the teaching period
Student feedback will occur regularly throughout the course, e.g. via in-class problem solving, in-class quizzes, and office hours. The last lecture before the final examination will be dedicated to a Q&A session and to solving a mock exam given to the students a month in advance.
Student workload
Preparation 154 hours
Exam 4 hours
Classes 36 hours
Tutorial sessions 12 hours
Further Information

This course will be offered for the first time in spring 2022

Expected literature

Blanchard O., A. Amighini, and F. Giavazzi, Macroeconomics - A European Perspective (4th Edition) , 2021, Pearson Prentice Hall.

Last updated on 14-12-2021