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2023/2024  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
Max. participants 50
Study board
Study Board for cand.merc. and GMA (CM)
Course coordinator
  • Mauricio Prado - Department of Economics (ECON)
Main academic disciplines
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 15-02-2023

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.
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
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 the course is to provide students with an understanding of the macroeconomic environment of businesses in the 21st century. 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 and their interplay with Fiscal and Monetary policies.  The course will also study the determinants of production, consumption, savings and investment.


• 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


In relation to Nordic Nine principles the course provides a theoretical framework so students can understand, analyze, and communicate macroeconomic issues. And we want our students to be able to participate in interdisplinary work processes to make informed decisions about the business environment. All of this relates to the Value principle that:


“you are critical when thinking and constructive when collaborating”


Second, by the very nature of macroeconomic data and macroeconomic modelling, the course relates to the Knowledge principle that:


“you are analytical with data and curious about ambiguity”


Finally, macroeconomic theories taught in this course aim at maximizing welfare to the current and future generations and that directly relates to the Action principle that:


“you produce prosperity and protect the prosperity of next generations”.




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 169 hours
Classes (lectures and exercises) 33 hours
Exam 4 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 15-02-2023