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2026/2027  BA-BINBO1127U  Macroeconomics

English Title
Macroeconomics

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory (also offered as elective)
Level Bachelor
Duration One Quarter
Start time of the course Fourth Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for Global Relations
Programme Bachelor of Science in International Business
Course coordinator
  • Annaïg Morin - Department of Economics (ECON)
Main academic disciplines
  • Economics
Teaching methods
  • Blended learning
Last updated on 30-06-2026

Relevant links
Learning objectives
After ending the course, the students should be able to:
  • 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 in closed and open economy, the IS-LM-PC model). Illustrate these models graphically and solve them algebraically.
  • Describe how GDP is determined in the short and medium 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.
  • Explain the Phillips curve and discuss the relation between unemployment, output, and inflation.
  • Perform policy experiments (e.g., changes in government spendings or changes in money supply). Interpret the mechanisms verbally and graphically, and solve algebraically.
  • Explain how these policies are impacted by openness to trade and financial flows.
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 Summer and 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

This course provides a rigorous introduction to macroeconomic analysis. It explores how output and interest rates are determined, how goods and financial markets interact, the relationship between unemployment and inflation, and the role of fiscal and monetary policy in stabilizing the economy. The course also addresses central international macroeconomic issues, including exchange rate regimes and open-economy dynamics.

 

A key objective is to bridge theory and real-world application. The course offers a structured framework for examining questions such as: Why do economies experience booms and busts? What triggered the global financial crisis of 2008–09? Why did inflation surge in 2021–2022? And to what extent can governments and central banks stabilize economic activity? Students will use macroeconomic models to analyze real-world developments and contemporary policy debates, including inflation targeting in the Eurozone, public debt in the European Union, financial crises, and Denmark’s fixed exchange rate regime.

 

By the end of the course, students will have developed a solid understanding of economic fluctuations, recessions, inflation, and the impact of policy interventions on output, employment, and prices.
Research-based teaching
CBS’ programmes and teaching are research-based. The following types of research-based knowledge and research-like activities are included in this course:
Research-based knowledge
  • Classic and basic theory
  • Models
Research-like activities
  • Analysis
  • Discussion, critical reflection, modelling
Description of the teaching methods
The course primarily consists of lectures introducing and explaining key macroeconomic concepts and models. Each mechanism discussed in class is presented within a simple analytical framework to clarify the underlying logic. Graphical analysis is used extensively to develop intuition and strengthen understanding.

In addition to the lectures, tutorial sessions are dedicated to solving exercises and applying the models in practice.
Feedback during the teaching period
Students will receive:
- General feedback through the discussion of exercise solutions during lectures and tutorial sessions, as well as through quizzes.
- General feedback on the mock exam through the publication and review of model solutions.
- Specific feedback via the Q&A forum on Canvas and during the Q&A session held in the final lecture.
- Specific feedback during office hours, which will be held throughout the teaching weeks.

Feedback will focus on students’ understanding and application of macroeconomic concepts and methods.
Student workload
Lecture hours 42 hours
Exercise classes 12 hours
Preparation for lectures 42 hours
Preparation for exercise classes 12 hours
Preparation for exam 98 hours
Expected literature

Blanchard O., Macroeconomics (9th Edition, Global edition), 

 

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

Last updated on 30-06-2026