SE-204 Macroeconomics

The course is connected to the following study programs

• Bachelor's Programme in Mathematics and Economy
• Bachelor's Programme in Business Administration
• Master's Programme in Business Administration (5 years)

Teaching language

Norwegian

Recommended prerequisites

SE-104 Introduction to Economic Thought and Ethics or equivalent.

For single course students, this course (or equivalent) is required for admission.

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:

• National accounts.

• Other macro data sources.

• The business cycle.

• Production and income in the short run.

• Analysis of changes in demand (Keynes model).

• IS-PK-RR model

• Phillips curve.

Learning outcomes

Upon successful completion of this course the student should be able to demonstrate:

• Insights in central macroeconomic objectives and concepts.

• Describe central macroeconomic relationships.

• Find relevant macroeconomic data and indicators.

• Analyze macroeconomic questions through graphs and equations of macroeconomic models.

• Understand how demand shifts impact production through multiplier effects (theory).

• Analyze how financial and monetary policies can influence output and employment in open economies with flexible exchange rate.

• Understand how financial and monetary policies may reduce business cycles.

• Account for how small open economies may be influenced by international shocks.

• Describe the relation between unemployment and inflation.

• Be aware of fundamental conflicts of interest and conflicting objectives in economic policies.

• Be informed about the most important Norwegian and international institutions that influence macroeconomic functioning.

Examination requirements

Approved compulsory assignments. 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 person responsible for the course, 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

Offered as Single Standing Module

Yes. Subject to availability or capacity.

Admission Requirement if given as Single Standing Module

SE-104 Introduction to Economic Thought and Ethics or equivalent.

Assessment methods and criteria

4 hour written examination with letter grade.

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-106 – Economics	2.5