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2021/2022  KAN-CCMVV2001U  Advanced Macroeconomics

English Title
Advanced Macroeconomics

Course information
Language English
Course ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Mauricio Prado - Department of Economics (ECON)
Main academic disciplines
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 15-02-2021

Relevant links
Learning objectives
  • explain the fundamentals of growth and productivity.
  • explain the determinants of production, consumption, savings and investment.
  • explain the effects of policies and shocks on the economy.
Course prerequisites
To be able to follow the course, students are advised that some background knowledge of mathematics and economics is helpful. The key mathematical requirements are knowledge of methods of optimization subject to constraints and basic ideas of probability and statistics. In terms of economics, the course assumes understanding of intermediate micro- and macroeconomics.
This course is closed for enrolment of AEF students.
Examination
Advanced Macroeconomics:
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) One internal examiner
Exam period Winter
Aids Open book: all written and electronic aids, including internet access
Read more here about which exam aids the students are allowed to bring and will be given access to : Exam aids and 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

The aim of the course is to provide students with an understanding of the macroeconomic environment of businesses. Such understanding is essential for key employees in both financial and non-financial institutions, corporations, and the government. The course focuses on growth and productivity. Growth is a huge problem for the world economy these days, and productivity is a major challenge to the developed and developing economies. The course will also study the determinants of production, consumption, saving and investment. Their interplay with growth and productivity is at the core of both short term and long term economic policies in the US and in the EU.

 

Topics
• Introduction to Macroeconomics, Romer (2019), introduction and chapter 1
• Consumption, Romer (2019) chapter 8
• Investment, Romer (2019) chapter 9
• Economic Growth: Solow, Ramsey and OLG models, Romer (2019) chapters 1 and 2
• Real Business Cycle model, Romer (2019) chapter 5
• Nominal Rigidities, Romer (2019) chapters 6 and 7
• Lucas information model, Romer (2019) chapter 6
• Monetary Policy, Romer (2019) chapter 7 and 12

 
Description of the teaching methods
The course is composed of 11 three-hour sessions. These class activities will involve lectures and problem-solving exercises.
Feedback during the teaching period
Student feedback will occur regularly throughout the course, e.g. via office hours and in-class problem solving (exercise classes). 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
Preparation / exam 170 hours
Classes (lectures and exercises) 33 hours
Further Information

 

This course is closed for enrollment of AEF students.
Expected literature

Romer, David (2019) Advanced Macroeconomics, McGraw-Hill, 5th edition. Chapters 1, 2, 5, 6, 7, 8,
9 and 12. ISBN 978-1-26-018521-8

 

Further recommended readings and articles will be posted in Learn.
Last updated on 15-02-2021