SE-204 Macroeconomics
- ECTS Credits:
- 7.5
- Responsible department:
- School of Business and Law
- Course Leader:
- Gorm Jacobsen
- Lecture Semester:
- Spring
- Teaching language:
- Norwegian.
- Duration:
- 1 term
The course is connected to the following study programs
- Bachelor's Programme in Business Administration
Teaching language
Norwegian.Recommended prerequisites
SE-104 Introduction to Economic Thought and Ethics or equivalent.
Course contents
This course explores central macroeconomic concepts and analysis of macroeconomic problems, particularly analysis of the effects on production and employment as a result of changes in monetary and fiscal policies or international shocks.
Topics include:
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National accounts.
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Other macro data sources.
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Factors that influence international growth in the long run.
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The business cycle.
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Production and income in the short run.
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Analysis of changes in demand (Keynes model).
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IS-LM model and the Fleming-Mundell model with flexible exchange rate.
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Phillips curve.
Learning outcomes
Upon successful completion of this course the student should be able to demonstrate:
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Insights in central macroeconomic objectives and concepts.
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Describe central macroeconomic relationships.
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Find relevant macroeconomic data and indicators.
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Analyze macroeconomic questions through graphs and equations of macroeconomic models.
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Understand how demand shifts impact production through multiplier effects (theory).
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Analyze how financial and monetary policies can influence output and employment in open economies with flexible exchange rate.
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Understand how financial and monetary policies may reduce business cycles.
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Account for how small open economies may be influenced by international shocks.
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Describe the relation between unemployment and inflation.
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Be aware of fundamental conflicts of interest and conflicting objectives in economic policies.
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Be informed about the most important Norwegian and international institutions that influence macroeconomic functioning.
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Account for central drivers for international economic growth.
Examination requirements
Approved compulsory assignments. Each student needs to pass 2 digital tests. Further information will be given in Canvas at the start of the semester.
Teaching methods
Lectures and team work 5 hours per week. Guest lecture about financial markets, financial and debt crises in an international perspective. Expected student workload is about 200 hours
Evaluation
The study programme manager, in consultation with the student representative, decides the method of evaluation and whether the courses will have a midterm- or end of term evaluation, see also the Quality System, section 4.1. Information about evaluation method for the course will be posted on Canvas.
Admission for external candidates
No
N/A
No
Offered as Single Standing Module
Yes. Subject to availability or capacity.Assessment methods and criteria
4-hour written exam with letter grades.
Reduction of Credits
This course’s contents overlap with the following courses. A reduction of credits will occur if one of these courses is taken in addition:
Course | Reduction of Credits |
---|---|
SE-204 – Macroeconomics | 7.5 |
SE-2400 – Macroeconomics | 6 |
SE-2400 – Macroeconomics | 6 |
SE-2400 – Macroeconomics | 6 |
SE-2400 – Macroeconomics | 6 |
SE-205 – Macroeconomics | 5 |
SE-202 – Macroeconomics | 5 |
SE-106 – Economics | 2.5 |