Long-Term Macroeconomic Analysis

FIE421 Long-Term Macroeconomic Analysis

  • Topics

    Topics

    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.

  • Learning outcome

    Learning outcome

    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

  • Teaching

    Teaching

    Plenary lectures, student group work and guest lectures.

  • Required prerequisites

    Required prerequisites

    Basic knowledge in macroeconomics, finance and quantitative methods from the bachelor program.

  • Requirements for course approval

    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.

  • Assessment

    Assessment

    Four hours written school exam

  • Grading Scale

    Grading Scale

    Grading scale A-F.

  • Computer tools

    Computer tools

    Ordinary tools suffice (MS Office etc.)

  • Semester

    Semester

    Spring.

  • Literature

    Literature

    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.

Overview

ECTS Credits
7.5
Teaching language
English.
Semester
Spring

Course responsible

Håkon Tretvoll,  Lassi Ahlvik, Department of Economics