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2023/2024  KAN-COECO1070U  Macroeconomics - The Global Economy

English Title
Macroeconomics - The Global Economy

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory (also offered as elective)
Level Full Degree Master
Duration One Semester
Start time of the course Spring
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 50
Study board
Study Board for MSc in Advanced Economics and Finance
Course coordinator
  • David Jinkins - Department of Economics (ECON)
Main academic disciplines
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 25-01-2023

Relevant links
Learning objectives
Students are required to:
  • Explain the assumptions and key parameters of the macroeconomic models covered in the course.
  • explain the intuition from models of economic growth and business cycle fluctuations from the course
  • use the models presented in the course to explain the effects of monetary and fiscal policies and shocks on the economy
  • Apply models from the course to analyze societal challenges
Course prerequisites
This is a mandatory course for the MSc in Advanced Economics and Finance. It is assumed that students have knowledge similar to the entry requirements for the MSc in Advanced Economics and Finance. For spring courses knowledge similar to the content of the 1st-semester courses is assumed as well. The courses have 45 confrontation hours (lectures and exercises), and there is a high level of interaction between lecturer and students, and in general a high work load.

To sign up send a 1-page motivational letter, a 1-page CV, and a grade transcript to ily.stu@cbs.dk before the registration deadline for elective courses. You may find the registration deadlines on my.cbs.dk ( https:/​/​studentcbs.sharepoint.com/​graduate/​pages/​registration-for-electives.aspx ).

Please also remember to sign up through the online registration.
Prerequisites for registering for the exam (activities during the teaching period)
Number of compulsory activities which must be approved (see section 13 of the Programme Regulations): 3
Compulsory home assignments
In order to qualify for the final exam, students must hand in and get approved 3 (out of 4) problem sets.
The problem sets are done in groups of 2-4 students.

If a student - due to documented illness or failed attempts - does not pass 3 out of 4 exercise preparations, the student will be given a final chance to retake this part of the course by handing in a new exercise preparation prior to the final exam.
Examination
Macroeconomics - The Global Economy:
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 Summer
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
  • Advanced 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 explore the fundamental models and methods used in macroeconomics. The course studies business cycles and economic growth, and analyzes the impact of shocks and economic policies (e.g. monetary and fiscal) on the economy.

Topics

  • Neoclassical Growth Model: the Ramsey model
  • Overlapping Generations model: the Diamond model
  • Dynamic Stochastic General Equilibrium models: RBC and Calibration
  • Endogenous growth
  • Monetary Policy
  • Macroeconomic models of climate change (IAM-DICE)
Description of the teaching methods
Lectures and exercise classes. These class activities will involve derivation and analysis of models and problem-solving exercises.
Feedback during the teaching period
We try to offer feedback in response to your questions and work whenever feasible although please appreciate that there are often time constraints. Please feel free to take full advantage of the ‘office hours’ offered by full-time staff members, although these can never be a substitute for participation in lectures and classes. We also encourage you to ask questions or make comments in class and form self-study groups to secure peer feedback on your work. There will be several home assignments in the course. Feedback will be given in class after home assignments have been graded.
Student workload
Teaching 45 hours
Preparation 142 hours
Exam/Home Assignments 19 hours
Expected literature
  • David Romer (2012) Advanced Macroeconomics, McGraw-Hill Irwin. ISBN 978-0-073-51137-5
  • Further readings and journal articles will be posted on Learn.
Last updated on 25-01-2023