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2023/2024  BA-BPOLO1290U  Macroeconomics

English Title
Macroeconomics

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
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/MSc i International Business and Politics, BSc
Course coordinator
  • Katja Mann - Department of Economics (ECON)
Main academic disciplines
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 07-06-2023

Relevant links
Learning objectives
  • Explain basic macroeconomic terminology (e.g. "growth", "recession", "natural unemployment" etc.) in a comprehensive way.
  • Describe and explain the assumptions and mechanisms of the main macroeconomic models (e.g. the IS-LM model, the IS-LM-PC model, the Solow growth model, etc.). Illustrate these models graphically and solve them algebraically.
  • Describe how GDP is determined in the short run, the medium run and the long run. Explain how GDP is affected by shocks.
  • Describe the main determinants of other important macroeconomic variables such as inflation, unemployment, real wage, interest rate etc. Explain how these macroeconomic variables are affected by shocks.
  • Perform policy experiments (e.g., changes in government spending or changes in money supply). Interpret the mechanisms verbally and graphically, and solve algebraically.
Examination
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 Spring
Aids Limited aids, see the list below:
The student is allowed to bring
  • USB key for uploading of notes, books and compendiums in a non-executable format (no applications, application fragments, IT tools etc.)
  • An approved calculator. Only the models HP10bll+ or Texas BA ll Plus are allowed (both models are non-programmable, financial calculators).
  • In Paper format: Books (including translation dictionaries), compendiums and notes
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.
Course content, structure and pedagogical approach

The aim of this course is to provide students with an introduction to macroeconomics. The course focuses on the behavior of the economy in the short-run, medium-run, and long-run, specifically looking at the goods market, the financial market and the labor market. The course is designed to help students understand how these markets operate, how they interact with each other, and how they are impacted by shocks and macroeconomic policies. Students also learn to apply the theories to the real world and think critically about recent macroeconomic developments.

 

In relation to Nordic Nine

This course provides students with knowledge about the economic environment in which businesses operate, e.g. related to inflation, economic growth and unemployment (NN1). Students reflect on societal challenges such as technological change and inequality and learn to apply economic thinking to address these challenges (NN4). More generally, the course encourages thinking critically about the usefulness of economic theories for solving real-world problems (NN6). Students also learn about intergenerational conflicts e.g. related to taxation and government debt, and how these challenge the prosperity of present and future generations (NN7).
Description of the teaching methods
The course will mainly consist of general lectures which will present and explain
macroeconomic concepts and models. Each mechanism presented in class will be embodied in a simple analytical framework to facilitate understanding the underlying logic. Moreover, graphs will be used extensively to build intuition. Real-world applications of the models will be studied interactively.

In addition to general lectures, tutorial sessions will be devoted to solving exercises.
Feedback during the teaching period
Throughout the course, there will be several opportunities for feedback: Multiple-choice quizzes and discussion forums on Canvas, extensive QnA sessions in class, peer-reviewed exercises and a mock exam, where students have the possibility to present and get feedback on their answers.

Students furthermore have the opportunity to present and discuss their answers to analytical exercises during the tutorial sessions.

In addition, regular office hours will be offered, which the students are encouraged to attend.
Student workload
Preparation time (readings, group work etc.) 100 hours
Lectures / class exercises / “homework cafés” / workshops etc. 60 hours
Exam (incl. preparation for the exam and actual exam period) 54 hours
Expected literature

Blanchard O., Macroeconomics (8th Edition), Pearson Prentice Hall.

There is a cheaper version of this book available for purchase for Bsc IBP students.

Macroeconomics, BSc. International Business and Politics
Compiled by Katja Mann, ISBN 978-1-80006-546-8

 

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

Last updated on 07-06-2023