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2023/2024  KAN-CPOLO1901U  Advanced Macroeconomics

English Title
Advanced Macroeconomics

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
Study board
Study Board for BSc/MSc i International Business and Politics, MSc
Course coordinator
  • Pontus Rendahl - Department of Economics (ECON)
Main academic disciplines
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 07-06-2023

Relevant links

Learning objectives
  • Show a mature understanding of the tension between macroeconomic variables in the short run
  • Display a deep understanding of the goal conflicts of stabilizing economic activity vs. inflation
  • Explain and apply the theories of economic growth
  • Explain the effects of policies and shocks on the economy
  • Outline the existing evidence of business cycles and economic growth
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 Summer
Aids Limited aids, see the list below:
The student is allowed to bring
  • Any calculator
  • 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 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 focusses on business cycles, economic policy, and growth. Business cycle fluctuations and the associated policy responses is a key concern of governments and central banks over the short- to medium run. Fostering economic growth, on the other hand, is a major objective over the long run. This course will study the consequences and appropriate policy responses to economic downturns, and develop an understanding of the tensions between different policy objectives; stabilizing output on the one hand, and inflation on the other. Moreover, we will analyzes the sources of economic growth, and its main determinants.


In relation to Nordic Nine

Advanced Macroeconomics provides students with knowledge about the economic climate in which businesses operate (NN1), in particular with respect to macroeconomic quantities such as inflation, economic growth and unemployment. Students reflect on societal challenges such as technological change, joblessness, and learn to apply entrepreneurial knowledge to address these challenges (NN4). More generally, the course encourages critical thinking about the guidance of economic theories for solving real-world problems (NN6). Students also learn about intertemporal trade-offs -- e.g. such as the tension between forgone present consumption vs. productive investments -- and how these challenge the prosperity of present and future generations (NN7).

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
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.
Student workload
Lectures/ class exercises / “homework café”/ workshops etc. 33 hours
Preparation time (readings, group work, etc.) 169 hours
Exam 4 hours
Expected literature

* Lecture slides available on canvas

* The lecture notes on Macroeconomic by Karl Whelan: https:/​/​www.karlwhelan.com/​Macro2/​Whelan-Lecture-Notes.pdf

Last updated on 07-06-2023