FIE421 Long-Term Macroeconomic Analysis
In Norway as well as any other economy in today's globalized world, important issues that take center stage in the economic policy debate include economic growth and national wealth, the interaction between macroeconomic developments and the financial markets, social security and intergenerational redistribution. This course deals with these issues and provides both analytical skills and applied insights necessary for the understanding and analysis of the macroeconomic developments in the years to come.
Knowledge - upon successful completion of the course students
- can demonstrate knowledge of long-term developments and challenges in the Norwegian and other developed economies
- can demonstrate knowledge of how discounting affects the costs and benefits of dealing with long-term challenges such as climate change
- can demonstrate an understanding of the management of natural resources over an extended time period
- can demonstrate knowledge of the link between natural resource management and the long-term management of the overall national wealth
Skills - upon succesful completion of the course students
- can apply intertemporal macroeconomic models to analyze the long-term developments in an economy
- can discuss growth models and analyze the drivers of economic growth
- can analyze the tradeoffs involved in the intergenerational redistribution of tax-burdens and welfare
- can understand and discuss the recent academic literature related to the course
General competence - upon succesful completion of the course students
- can communicate the key issues concerning long-term economic developments
- can discuss whether current economic policy is suited to deal with long-term challenges
Plenary lectures, student group work and guest lectures.
Basic knowledge in macroeconomics, finance and quantitative methods from the bachelor program.
Requirements for course approval
One individual written assignment and one case-assignment to be solved by groups. Students must pass both of these to obtain course approval.
Four hours written school exam
Grading scale A-F.
Ordinary tools suffice (MS Office etc.)
A selection of journal articles, chapters from textbooks and research reports.
The main textbook for the course is Foundations of International Macroeconomics, by M. Obstfeld and K. Rogoff, The MIT Press, 1996.
- ECTS Credits
- Teaching language
Håkon Tretvoll, Lassi Ahlvik, Department of Economics