ØASØK3401 Macroeconomic Policy Course description

In macroeconomics, students try to understand the relationships between aggregate economic variables such as inflation, unemployment, income and production and why they vary. In this course, students will learn how economic policy such as monetary and fiscal policy can influence the macroeconomic situation. The course builds on Macroeconomics I.

Language of instruction is Norwegian.

None

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student has in-depth knowledge of

• models that can be used to analyse economic policy
• how cyclical fluctuations arise and how they can be counteracted through policy
• how institutions can influence policies
• financial crises
• open economy, monetary unions

Skills

The student is capable of

• explaining important relationships between macroeconomic variables
• using models to analyse macroeconomic issues
• analysing how macroeconomic policy can influence economic variables such as activity and inflation
• assessing current economic policy

General competence

The student can

• communicate about macroeconomic issues, analyzes and conclusions of monetary and financial policy both with specialists and the general public
• apply knowledge to help stabilize cyclical fluctuations

• Economic activity and inflation
• Monetary policy
• Fiscal policy
• Open economies, exchange rates
• Cyclical fluctuations
• Institutions
• Financial markets

Plenary lectures.

The course is coordinated with ØASØK4000 Macroeconomic Policy.

The following coursework requirement must have been approved for the student to take the exam:

• Coursework requirement 1: A two-hour classroom test

The purpose of the coursework requirement is to promote the student's progression and development.

The work requirement must be approved in order for the student to be able to sit for the exam. If the work requirement is not approved, the student is given the opportunity to take a postponed test once within a specified deadline.

The exam in the course is a supervised exam of 4 hours.

The following aids are permitted:

• Calculator (see regulations for the use of calculators in the programme description)
• One dictionary (either first language-English/English-first language or English/English)

Grade scale A-F

The exam papers are assessed by one internal and one external examiner.

At least 25% of the exam papers will be assessed by two examiners. The grades awarded for the papers assessed by two examiners form the basis for determining the level for all the exam papers.

Fredrik Wulfsberg

Students who have the subject ØASØK4000 Macroeconomic Policy are not allowed to take this course.