International Macroeconomics (MSB111)

Facts about economic aggregates and macroeconomic models. Particular attention is given to:

• Economic growth and business cycles
• Monetary policy
• The current account of the balance of payments
• Employment and unemployment
• Exchange rates
• Economic effects of government budgets
• Financial crises

Throughout the course, continuous reference will be made to historical and current macroeconomic phenomena, from both a global perspective and with a special focus on Norway.

Upon completion of the course, the student should be able to:

Knowledge:

Upon completion of the course, the student will have knowledge of

• basic macroeconomic models of economic growth, business cycle fluctuations, employment and unemployment, inflation, budget deficits, national debt, and international macroeconomics involving exchange rate policy.

Skills:

Upon completion of the course, the student will be able to

• describe the above-mentioned models and derive their implications;
• apply basic macroeconomic models to phenomena such as economic growth, current accounts, employment,
• exchange rates, business cycle fluctuations, monetary policy, and budget deficits;
• analyze international aspects of macroeconomic policy and understand the role of international economic institutions;
• use various simplified models to analyse different problems;
• evaluate the feasibility of the assumptions behind different models, as well as their limitations, and create new ones;
• analyze whether the implications of a model are more or less factually accurate;
• assess the feasibility of macroeconomic arguments in the public debate;
• create and communicate new potential solutions to contemporary macroeconomic challenges.

Fagperson(er)

Study Program Director:

Course coordinator:

In this course, students will learn through a combination of traditional lectures, exercises, seminars, student

presentations, and individual study.

Assessment: The course is examined on the basis of a written examination, written assignments, and student presentations.