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2023/2024  BA-BISHO3004U  Macroeconomics and Trade

English Title
Macroeconomics and Trade

Course information

Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Bachelor
Duration One Quarter
Start time of the course Second Quarter, Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 70
Study board
Study Board for BSc in International Shipping and Trade
Course coordinator
  • Annaïg Morin - Department of Economics (ECON)
Main academic disciplines
  • Globalisation and international business
Teaching methods
  • Blended learning
Last updated on 14-02-2023

Relevant links

Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors:
  • Present the core theoretical frameworks in macroeconomics and explain how output, the interest rate, and inflation are determined in the short and medium-run, both in closed and open economies.
  • Describe the conduct of fiscal, monetary and trade policies. Explain how fiscal and monetary policies are impacted by openness to trade and financial flows.
  • Identify the core theories and models of international trade and apply them to study global trade flows.
  • Analyze how macroeconomics and international trade drivers influence shipping markets from a shipping operator's perspective.
Macroeconomics and Trade:
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 Limited aids, see the list below:
The student is allowed to bring
  • An approved calculator. Only the models HP10bll+ or Texas BA ll Plus are allowed (both models are non-programmable, financial calculators).
  • 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
The number of registered candidates for the make-up examination/re-take examination may warrant that it most appropriately be held as an oral examination. The programme office will inform the students if the make-up examination/re-take examination instead is held as an oral examination including a second examiner or external examiner.
Description of the exam procedure




Course content, structure and pedagogical approach

This course offers an introduction to macroeconomic analysis and international trade. This includes the theory of output, employment and inflation determination in open economies; the role of fiscal, monetary and trade policy; and the economic impact of international economic relations. The course has a global focus, as it relates macroeconomic analysis to issues relevant to interconnected economies trading financial assets as well as intermediate and final goods.


The lectures on the structure and dynamics of international trade models will provide the backbone for class discussions on the trade flows of goods and on how economic and political changes alter these flows.

Description of the teaching methods
The course mainly consists of general lectures that will present and explain macroeconomic and trade 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 and international trade 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
Lectures 42 hours
Preparation for lectures 60 hours
Exercise classes (including preparation) 60 hours
Preparation for exam 40 hours
Expected literature
  • Blanchard O.,  Macroeconomics  (8th Edition, Global edition)
  • Krugman PR, M. Obstfeld, and MJ Melitz , International Trade: Theory and Policy (11th edition , Global Edition).

  • Please note that minor changes may occur. The teacher will upload the final reading list to Canvas two weeks before the course starts.

Last updated on 14-02-2023